Lowtax Network

Back To Top

Your Lowtax Account

Hong Kong Companies: Dormant Status

Startupr
04 November, 2016

You have registered a company in Hong Kong and now you need to put the business on hold for some reason or postpone your first operations.

If your company has no significant accounting transaction during a financial year, meaning there are no entries in the company's accounting records, you can register it as a dormant company.

Benefits of Dormant Status

The dormant status will allow your inactive company to be retained at a minimum maintenance cost. Once the company obtains the dormant status, it won't be required to comply with all annual obligations. However, the company must still submit an annual return for the year in which it declares itself to be dormant.

Documents

You will have to pass and deliver to the Company Registry in Hong Kong a special resolution declaring that the company will become dormant. You can download Specimens of the special resolutions here. Your company will officially become dormant from the date of delivery of the special resolution to the Registrar or from any later date that is specified in the special resolution.

When you decide to cease the dormant status of your company, you just need to pass and deliver to the Company Registry a special resolution declaring that the company intends to enter into the accounting transactions.

Accounting Transactions

An accounting transaction means any transaction that is required to be entered in the accounting records of a Hong Kong company.



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

 

 

« Go Back to Blogs

Blog Archive

Event Listings

Listings for the leading worldwide conferences and events in accounting, investment, banking and finance, transfer pricing, corporate taxation and more...
See Event Listings »