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Hong Kong Company Deregistration

Update Date:2018-11-14 16:04:23 Source:Tannet (Malaysia) Sdn Bhd Views:326

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The Necessity of Deregistration of Hong Kong Companies

According to the relevant laws of Hong Kong, Hong Kong companies must conduct annual return after one year of registration. If they are not processed within the time limit, they will accumulate a cumulative fine. If they have been ignored the annual return, they will receive a government subpoena. At the same time, the Hong Kong government will force a winding-up and deregistration. The company will have to pay the annual return fee and the accumulated fine. The company’s directors will also be blacklisted and their personal reputation will be impaired. It has a negative impact on its business in Hong Kong. Therefore, when Hong Kong companies are no longer running, timely deregistration is the right, safe and legal choice.


Hong Kong Company Deregistration Procedures

After a Hong Kong company has been operated for a period of time, if the company wants to suspend their business, the company must apply for deregistration procedures in accordance with the requirements of laws and regulations of Hong Kong companies.


1. The applicant applies to the Hong Kong Inland Revenue Department for “Notice of non-objection.”

2.  Cancellation of bank accounts;

3. Submit the notices and documents to the Hong Kong Companies Registry for application of company deregistration;

4. The application will be gazette in The Hong Kong Companies Registry (if no written objection was received); the Hong Kong Company was officially deregistrated.


Conditions for Non-Objection Notice

The Commissioner of Inland Revenue will issue a Notice of no objection under the following circumstances:

1. The company has never operated or has ceased to operate;

2. The company will not start / re-opened;

3. The company has sold all inventories, properties and securities;

4. The company has no unpaid taxes including profits tax, property tax, stamp duty, business registration fee and fines and court fees related to such taxes;

5. The company has no responsibilities that have not been completed under the Inland Revenue Ordinance, including the return of the tax return that has been issued by the Inland Revenue Department, and the written notice to the Secretary for the company that it is taxable for any year of assessment but has not received the tax return for the relevant year;

6. The company has not yet responded to any inquiries issued by the Inland Revenue Department;

7. The company's assessment has no outstanding objections or appeals.


Remarks: If the company does not meet any of the above conditions, it will not be issued a notice of no objection.



Time required for Hong Kong Company Deregistration

About half a year to one year (the application will be published twice in the Gazette. After the publication of the first gazette notice, there will be a three-month deadline for objection. If the Registrar has not received any objection during that period, the second gazette notice will be published, at which time the company will be dissolved. The applicant will be notified after the cancellation of the registration process and the dissolution of the company.


Required Information for Hong Kong Company Deregistration

1. An original Hong Kong company registration certificate;

2. An original Business Registration Certificate;

3. An original copy of the company's charter (English version);

4. A small round Company Stamp;

5. Companies that are less than one year old need to provide statutory documents, and companies that have completed one year must provide an annual return;

6. The identity certificate and contact information of the company's shareholders and directors;

7. A signature version of the directors and shareholders;

8. Audit Report.



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