060000Extraction of crude petroleum and natural gas
原油及天然氣的開採
Why 6 digits?
HSIC subclasses are 6 digits. The first four match the international ISIC class; Hong Kong adds a two-digit local suffix for finer detail, especially across its import and export trade, so a code steps from a 4-digit class straight to a 6-digit subclass. More on the HSIC structure.
This activity involves the extraction of crude petroleum and natural gas from underground reservoirs. It includes the processes of drilling and operating wells to bring these fossil fuels to the surface for further processing and distribution.
This classification includes
- extraction of crude petroleum
- extraction of natural gas
Classified elsewhere
These activities look similar but belong under different codes.
- oil and gas exploration
- petroleum refining
Licences and approvals
What this activity needs to operate
No sector-specific licence applies to this activity. It can be set up as a standard Hong Kong company without extra regulatory approvals. Premises-based or product-based permits can still apply case by case; Emerhub confirms the exact position during scoping.
Offshore profits claim feasibility
LowThe extraction of crude petroleum and natural gas is typically tied to specific locations and requires local infrastructure. Contracts are often negotiated and executed within Hong Kong, making it difficult to qualify for offshore non-taxable treatment.
Business registration wording
Suggested business nature for this activity
English
EXTRACTION OF CRUDE PETROLEUM AND NATURAL GAS
45/60 characters
Chinese 中文
原油及天然氣的開採
9/30 characters
Standard compliance
Compliance every Hong Kong company shares
Beyond anything specific to this activity, every Hong Kong company handles two-tiered profits tax, the annual return (Form NAR1) within 42 days of its incorporation anniversary, audited accounts, MPF enrolment for staff, and a company secretary. Emerhub runs all of it on your behalf.
See the full Hong Kong compliance calendarFrequently asked questions
What licenses are required for extraction?
You need to obtain a mining license and possibly other environmental permits depending on the scale and location of operations.
How is tax applied to profits from extraction?
Profits from extraction activities are subject to Hong Kong profits tax, as they are considered local operations.
Can I operate without a physical presence in HK?
A physical presence is generally required for extraction activities, as they involve local resources and infrastructure.
Incorporate in Hong Kong
Starting a extraction of crude petroleum and natural gas business in Hong Kong?
Emerhub incorporates your company, registers the business nature above with the IRD, files every licence application, and runs your company secretary and compliance calendar. You provide the documents; Emerhub handles every government interaction.
Start incorporation with Emerhub