Malaysia Hotline: +603- 2141 8908
Closing
down a company in Hong Kong involves a certain number of formal steps and the
overall process can take around 6 months to complete as it depending on how the
company is being closed and the complexity of the case.
There is
2 ways of closing down a company:
(1)
De-registration - De-registration is a relatively simple, inexpensive and quick
procedure for dissolving defunct companies who meet certain specific
requirements.
(2)
Winding up - Winding up is the process of appointing a liquidator who will
settle the accounts, pay off the company’s debts (if any), liquidate the assets
of a company and distribute the surplus assets (if any) to members, ensuring
that the company is completely dissolved.
(1) De-registration a Hong Kong
Company: General Requirements
The
company must be a solvent private company incorporated under the Hong Kong
Companies Ordinance, and must meet the following requirements:
• All
the members of the company agree to the de-registration
• The
company has never commenced business or operation, or has ceased to carry on
business or ceased operation for more than 3 months immediately before the
application
• The
company has no outstanding liabilities
• It has
obtained a written notice of no objection from the Commissioner of Inland
Revenue
(2) Winding up a Hong Kong
Company
There
are two ways to winding up a company in Hong Kong - Voluntary winding up &
Compulsory winding up. There difference are shown as below:
1.
Voluntary Winding Up
Voluntary
winding up of a Hong Kong company can be initiated either by members
(shareholders) or creditors. The voluntary winding up of a company begins by a
special resolution being passed for the company to be voluntarily wound up and
publishing this information in the Gazette within 14 days. The winding up is
said to begin on the date on which the resolution is passed.
2.
Compulsory Winding Up.
The most
common circumstances under which a Hong Kong Court can order a compulsory
winding up of a company in Hong Kong are:
I. The
company is unable to pay a debt of HKD 10,000 or above
II. The
court is of the opinion that it is just and equitable that the company should
be wound up
III. The
company has by special resolution resolved that the company be wound up by the
court
Each
case have different situation for de-registration of the company, we required
to review all the documents before consult on this.
Contact
us
If
you have further queries, please contact Tannet
24
hours Malaysia hotline：603-21418908;
24
hours Hong Kong hotline：852-27837818;
24
hours Hong Kong hotline：86-755-
36990589;
Email:
mytannet@gmail.com