Hong Kong Company Dissolution
Deregistering a Hong Kong Company
If you no longer require your Hong Kong company and wish it to be struck from the register, we can assist with a Hong Kong company dissolution (deregistration). Our dissolution service strikes the company off from the Hong Kong Company Registry, in accordance with the rules and regulations of the Hong Kong Companies’ Ordinance.
Following the application, it takes 3 to 6 months for the company to dissolve and be struck from the register. Once the company is removed from the Register, it no longer exists as a legal entity and cannot continue trading.
Why have your Hong Kong Company Dissolved?
It is essential to have your company struck off the register through the official deregistering process, as the company will receive penalties if annual returns are not filed. Unlike other major jurisdictions, these penalties can be imposed on directors if not paid.
Other benefits to having your company dissolved through the deregistration process are:
- A simpler process compared to company liquidation which requires winding through the court’s system
- Avoids costs, court fees and expenses of liquidation in Hong Kong
- Maintains the company’s directors and shareholders reputation for future business ventures
Requirements for Hong Kong Company Dissolution
In order for the Hong Kong Company Registry to dissolve your company, certain criteria must be met:
- All shareholders are in agreement to dissolve the company
- The company has not operated in the previous 3 months before applying to the Inland Revenue
- All company fillings need to be up to date for the current year
- The Company has paid its Business Registration for the current year
- The Company has filed an annual return for the current year
- The company has no outstanding fees or liabilities either with the government or creditors
- The company is not involved with any legal proceedings
- The company does not hold any property in Hong Kong
- The company has obtained a notice of no objection from the Inland Revenue Department.
We will obtain the letter of no objection on your behalf, presuming all the other criteria are met. If you are unsure if all the filing requirements have been met, we can perform a company search to assess if the company is prepared for company deregistration.
Information we require from you
In order to apply for a Hong Kong company deregistration, we require the following information/documents from you:
- A copy of the Articles of Associations
- A copy of the Certificate of Incorporation
- A copy of the latest annual return and any filings after the date of the latest annual return;
- A copy of the company’s business registration certificate
- Does the company have any outstanding liabilities
- Have all the shareholders and directors been informed and are in agreement
If any of the information or documents are unavailable, we can obtain these from the company registry on your behalf. Once you supply the above details, we can apply in writing for a letter of no objection from the Inland Revenue Department on your behalf making sure all documents are in order for a successful application. It takes 3 weeks to obtain a letter of no objection.
Using our 20 years experience in the company dissolution space, we offer a one of a kind complete service. We make sure all documentation and information are in order for a successful application including: company accounts, filing requirements, gazette notices and application forms.
Using our service avoids the potentially costly risks of rejection by either the Hong Kong Companies Registry or the Inland Revenue Department. We have assisted hundreds of clients in dissolving their companies.
Once the Company is Dissolved
Once the Hong Kong Companies Registry confirms the dissolution of the company, it can no longer trade and is struck off the register. Any assets remaining in the company’s name will be held by the registry as Bona Vacantia.
Simply complete our contact form with the company’s name and your relationship to the company, and we will provide a fee and timescale estimate.