Shareholders generally aren’t familiar with related formalities while planning to terminate any company, thus this can result in a breach of laws because of ignorance, and suppose infractions are severe, then they can lead to arrest and impact future exit or entry of HK.
The business deregistration applies to each business in HK. Businesses other than the corporation (for example sole proprietorship and partnership businesses) should make their applications in one month of the business commencement. You can learn more about this application procedure for the new business registration and renewal or cancellation.
Hong Kong Company Registration
All the local limited companies and non-Hong Kong businesses that were incorporated outside HK and have established right place of the business should first get registered with Companies Registry. You can find information about the registration fees and procedure and if you need annual return services HK.
Deregistration of the Company
The private company or local company that is limited by the guarantee that is defunct & solvent might apply to Registry for deregistration.
Company Deregistration Hong Kong
In Section 291 of Companies Ordinance of Laws of HK, the company applying for any deregistration with the Companies Registry should meet following conditions:
- Consent by shareholders;
- Company isn’t party to legal proceedings;
- No outstanding indebtedness, which includes governmental license tax and fee;
If company is the holding company, and none of the subsidiary’s assets comprise of immovable property in Hong Kong