Company Deregistration

Deregistration is the dissolution of a non-operating but solvent private company or a company limited by guarantee.  Compared to dissolving a company through the winding-up procedure, deregistration is a relatively simple, inexpensive and quick procedure.

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Application requirements:

• All members must agree;
• The company has no outstanding debts;
• The company is not a party to any legal proceedings;
• The company the company has not commenced operation or business, or has not been in operation or carried on business during the 3 months immediately before the application;
• The company has no assets (excluding real estate located in Hong Kong)
  (If the company is a holding company, the assets of all the company's subsidiaries do not include real estate located in Hong Kong);

 

IMPORTANT

• Before the company successfully dissolved, the company must submit an annual return and perform the responsibilities stipulated in the "Companies Ordinance" until the company is officially dissolved, otherwise it may be fined and prosecuted.
• All tax returns must be submitted (e.g. Profits Tax Return, Employers’ Return , etc.);
• All government fees and taxes must be paid;
• If the company still has property (including bank account balances, vehicles and properties, etc.), ensure that it is properly disposed of.  Otherwise, once the company is formally dissolved, all property under its name will be treated as unowned property and be confiscated by the Hong Kong Special Administrative Region Government.