Closing a Hong Kong Company
A Hong Kong limited company can be dissolved either by deregistration or liquidation.
Deregistration is quicker, cheaper and easier for closing a company, but there are a few requirement for the deregistration application.
Deregistration of a Hong Kong Limited Company
A private company or a company limited by guarantee or a director or member of the company can apply for the deregistration of the company
Until the company is deregistered and dissolved, the company is still required to observe its statutory obligations under the Companies Ordinance. There included the delivery of annual returns, notices of change of address of registered office, change of company secretary and director and their particulars for registration, etc.
Application for deregistration requirements:
Remarks
1. The above quotation do not included any penalty from the government’s department, the court representation fees, the audit and accounting fees
2. During the application of deregistration, the government department will send notification/ letters to the company in regards. Hence we strongly suggest to use our registered address and company secretary service during the application for deregistration.
LIQUIDATION
If your company do not fulfill the requirement for the application of the deregistration, you may have to choose liquidation to close the company.
Winding-up by the court
According to the Company Ordinance, Limited Company can be ordered winding-up by the Court. The common reason for this type of winding-up is its inability to pay its debits.
Voluntary winding-up
Members' voluntary winding-up: The Company is winding-up by the members. The company should able to pay-off its creditors when wound-up.
Creditors' voluntary winding-up: When directors of the company do not believe that it will be able to pay-off the debt. The creditor(s) can liquidate the company.
The fee for liquidation of a Hong Kong limited company is based on the company’s situation such as assets, liability, completed audit report etc. You may kindly contact us for more information and quotation
A Hong Kong limited company can be dissolved either by deregistration or liquidation.
Deregistration is quicker, cheaper and easier for closing a company, but there are a few requirement for the deregistration application.
Deregistration of a Hong Kong Limited Company
A private company or a company limited by guarantee or a director or member of the company can apply for the deregistration of the company
Until the company is deregistered and dissolved, the company is still required to observe its statutory obligations under the Companies Ordinance. There included the delivery of annual returns, notices of change of address of registered office, change of company secretary and director and their particulars for registration, etc.
Application for deregistration requirements:
- All the members of the company agree to the deregistration
- The company has not commenced operation or business or has not been in operation or carried on business during the 3 months immediately before the application
- The company has no outstanding liabilities
- The company is not a party to any legal proceedings
- The company’s assets do not consist of any immovable property situate in Hong Kong
- The company has obtained a “notice of no objection to a company being deregistered” (Notice of no objection) from the commissioner of Inland Revenue.
- If the company has commenced any business, the company shall has completed the required accounting and auditing. Tax issue (including profit tax / employer tax return) shall be completed and agreed by the Inland Revenue.
| Our service charges | US$450 |
| Fee for application for strike off | US$55 |
| Fee for application of Notice from IRD | US$35 |
| Total | US$540 |
| Processing time | Around 9 months |
| Services includes: | |
| (1) Preparation of minutes and other documents for application of deregistration (2) Apply to IRD for Notice of No Objection (3) Application for deregistration |
|
Remarks
1. The above quotation do not included any penalty from the government’s department, the court representation fees, the audit and accounting fees
2. During the application of deregistration, the government department will send notification/ letters to the company in regards. Hence we strongly suggest to use our registered address and company secretary service during the application for deregistration.
LIQUIDATION
If your company do not fulfill the requirement for the application of the deregistration, you may have to choose liquidation to close the company.
Winding-up by the court
According to the Company Ordinance, Limited Company can be ordered winding-up by the Court. The common reason for this type of winding-up is its inability to pay its debits.
Voluntary winding-up
Members' voluntary winding-up: The Company is winding-up by the members. The company should able to pay-off its creditors when wound-up.
Creditors' voluntary winding-up: When directors of the company do not believe that it will be able to pay-off the debt. The creditor(s) can liquidate the company.
The fee for liquidation of a Hong Kong limited company is based on the company’s situation such as assets, liability, completed audit report etc. You may kindly contact us for more information and quotation
