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Deregistration of Private company

Startupr
20 May, 2016

If you decided to close your Hong Kong business, you’ll have to de-register the company. However, before you submit the application for de-registration, you must notify the Inland Revenue Department and Companies Registry in Hong Kong.

Who can apply for deregistration?

  • The company
  • The director of the company or a member

Requirements for deregistration

The company can only be de-registered if the following requirements are fulfilled:

  • The business has not been commenced or;
  • the company has ceased to carry on business for more than three months immediately before the de-registration application
  • all company members must agree to the de-registration
  • there are no outstanding liabilities
  • the company isn’t a party to any legal proceedings
  • the company’s assets cannot consist of any immovable property situated in Hong Kong

If the company has any subsidiary, it should be ceased before the deregistration.
If the company has any assets in the name of the company on dissolution, it will be vested in the Government as bona vacanita.

Process of deregistration

First of all, the company must apply for a written notice of no objection from the IRD. Then the company will submit a completed application and a fee of HK$270. Once the certificate of no objection is received from IRD, the company shall submit a signed and completed form “Application for deregistration of private company or company limited by guarantee” along with the filing fee of HK$420.

The Registrat will publish a notice in the Gazzette when the application is approved. If the Registrat doesn’t receive any objection, it will publish a further notice at the end of the 3 months.



About the Author


Startupr

Startupr puts you first. This is why our main focus is Startups with global ambitions. We give you the freedom to build your business while we take care of the tedious, administrative tasks, leaving you to concentrate on your dream for your company. As part of our brilliant service, our back end software will automatically send you reminders of important annual filings, and upload your important document to your online account. startupr.hk

 

 

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