Close Down Your Hong Kong CompanyThrough Deregistering a Company
Hong Kong Company Strike Off Packages
- Service fees
- Government fees
- Service fees
- Government fees
Notes: The above fee includes our service fee in the application for the company deregistration, the government fees of the company deregistration and our disbursements. Fees incurred by auditing and tax compliance, business registration and the annual return are not covered.
4 Easy Steps to Closing Down Your Hong Kong Company
We put together all the required information and documents and have they all taken care of within one working day so there’s no delay.
The client prints out all of the forms, signs them in the necessary places and sends them back to us for submission.
We submit all of the documents and fees on your behalf to the government departments and take care of the whole process.
It can take a while for the deregistration to complete with the average deregistration taking six months.
Reasons for Closing Down a Hong Kong Company
Do you need to close down your Hong Kong company? There are a number of reasons that people may choose to close down their company. The main reasons are that you don’t have enough business to continue running your company, or the business is not generating profits anymore. When you need to close down a Hong Kong business you need to legally deregister the company instead of just abandoning it.
There are two ways of closing down a company – by company deregistration and winding up. Company deregistration is an inexpensive procedure of closing down defunct solvent companies and most companies in Hong Kong are closed down by this procedure.
Conditions for Deregistering a Hong Kong Company
When you close down your company you need to follow a set procedure so that you can be sure your company is eligible to be deregistered and to ensure that the deregistration process goes through properly. Failing to properly deregister your company could have serious consequences.
Below are the conditions for closing down a Hong Kong company through company deregistration.
Conditions for a Hong Kong company to make an application for deregistration
|(a) all the members of the company agree to the deregistration;|
|(b) the company has never commenced business or operation, or has ceased business for more than three months immediately prior to the deregistration application;|
|(c) the company has no outstanding liabilities;|
|(d) the company will not start / resume business in the future;|
|(e) the company is not a party to any legal proceedings;|
|(f) the company has disposed of all trading stock, landed property and securities, if any;|
|(g) if the company is a holding company, none of its subsidiary’s assets consist of any immovable property situate in Hong Kong;|
|(h) the company has no outstanding tax liabilities which include Profits Tax, Property Tax, Stamp Duty, Business Registration fee, fines and penalties in connection thereof and court fees;|
|(i) the company has no outstanding obligations under the Inland Revenue Ordinance. These include submission of return(s) which has(have) been issued by the Inland Revenue Department, liability to notify the Commissioner of Inland Revenue in writing that the company is chargeable to tax for any year of assessment in which a return has not been received;|
|(j) there are no unanswered enquiries from the Inland Revenue Department;|
|(k) there are no unsettled objections or appeals in respect of assessments already raised.|
When you’re ready to close your business in Hong Kong, no matter the reason that it’s being closed, you need to go through with the proper procedure. Hiring us to take care of the company deregistration for you takes away the stress of having to do it yourself and gives you back the time you would have spent going through the process.
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