De-register

De-registration De-registration is the simplest way or summary procedures to close down a Hong Kong registered company. However, the following conditions must be satisfied in order to proceed with the process of de-registration.

All members (shareholders) of the company approve to de-register the company;
the company has never commenced business or operation, or the company ceased to carry on business for more than 3 months immediately before the application;
the company has no outstanding liabilities, including taxes;
the company has no tax returns outstanding, unanswered enquires from IRD and unsettled Business Registration fee;
the company has disposed of all trading stock, landed property and securities, if any; and
all annual return due has been filed.

Before the application for de-registration, we will assist the client to obtain the "Letter of No Objection to a Company being Deregistered" from the Hong Kong Inland Revenue Department. During this process, depending on client's trading environment, the Inland Revenue Department may demand the latest Profits Tax Return together with the audited financial statement. In addition, the current year annual return to the HK Company Registry is still necessary to be filed on time. Once the company successfully obtains the Letter of No Objection to a Company being Deregistered, the company can proceed with the application with the Company Registry. The company can also apply for the cancellation of the Business Registration once obtaining the confirmation from the Company Registry. If the Company Registry receive no objection to the de-registration at the end of the 3 months period, the Registrar will deregister the company by publishing a notice in the Gazette declaring it to be deregistered. In case there is any dispute among the shareholders or not all the shareholders agree to de-register the company and the company is still solvent, a formal members' voluntary liquidation will be required.

 

 
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