A Hong Kong limited company can be dissolved in the following two ways:
A Limited company, which is defunct and solvent, wants to cease its business must officially apply to the Companies Registry to deregister it or strike it off from the Register of Companies. A company is still required to file Annual Returns to the Companies Registry before it is officially deregistered. A penalty will be imposed on the Company and/or the management for failure of submission of Annual Return.
In applying for deregistration, certain declarations should be made by the applicant. Any person who knowingly and recklessly gives information to the Companies Registrar that is false or misleading in a material particular is liable to a fine and to imprisonment. As the deregistration process is more technical and affecting company’s property. A company should seek professional advices before making an application.
Limited companies incorporated in Hong Kong can apply for de-registration, provided that the company to be de-registered meets the following requirements:
|(1)||Hold a board meeting to pass a resolution to strike off the company;|
|(2)||Apply in writing to IRD for a Notice of No Objection for Deregistration of a Defunct Company. It may take up to four weeks to receive the said Notice; Please be reminded that the said Notice will only be issued in the case that the company to be de-registered owes NO money to the Hong Kong Government and NO outstanding tax returns;|
|(3)||Apply in writing to the Companies Registry for de-registration of the company. It may take well up to six months after the filing of application for the Companies Registry to de-register your company.|
Read more about our Hong Kong company deregistration costs and procedures.
Winging-up by the court
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 deb