Company Deregistration / Company Dissolution Service
Company deregistration refers to the formal termination of a company's registration and legal status in Hong Kong through legal procedures. After the deregistration process is completed, the company no longer has legal person status and can no longer conduct any business activities in Hong Kong.
Most common reasons for company deregistration
Here are some common reasons why businesses decide to deregister:
Business restructuring or merger
When a company needs to restructure internally due to business operations, or has decided to merge some or all of its businesses with other companies, making it unnecessary for the original company to continue to exist, it needs to first deregister the original company.
Poor management or losses
When a company incurs long-term losses and finds it difficult to continue operating, shareholders may decide to terminate the business without incurring debt, thus requiring the company to be dissolved.
Shareholders are divided
When shareholders have serious disagreements about the direction of operations and determine that they can no longer continue to cooperate, they will decide to terminate and deregister the company.
Changes in market environment
When the market environment undergoes significant changes and the company's operations become unable to adapt to the market trend, the company decides to deregister.
The company has completed specific projects.
If a company is established for the purpose of carrying out a specific project, and the company no longer has any meaning after the project is completed, its legal status will be cancelled.
Company deregistration process and fees
The following are the procedures and fees involved in deregistering a company:
- If your company is a limited company, when applying for company deregistration, you need to first fill out Form IR1263. After completing the form, send it along with a HK$270 cheque to the Inland Revenue Department to apply for a "Letter of No Objection to Company Deregistration".
- After the Inland Revenue Department issues a "Letter of No Objection to Company Deregistration", the company representative must complete Form NDR1 and pay HK$420 to formally apply to the Companies Registry for company deregistration.
The above is a detailed outline of the company deregistration process and related fees. Note that when deregistering an unlimited company, there is no need to apply for a "Notice of No Objection to Company Deregistration". You only need to fill out Form NDR1 and pay the required fees.
How long does it take to deregister a company?
The process of deregistering a company typically takes 6-9 months. After receiving the application, the Companies Registry will publish a notice in the Gazette recommending the deregistration of the company. If no objection to the deregistration is received within 3 months, the Companies Registry will publish a notice in the Gazette stating that the company will be officially deregistered on another specific date. It is important to note that even until the Companies Registry confirms the company's official deregistration, all financial statements and other reports must still be submitted on time.
Do I need to file taxes when deregistering a company?
Yes, it is necessary. Before applying to deregister a company, the company needs to settle all outstanding tax matters. After receiving the company's application to deregister, the tax bureau will review the company's tax records. If there are any outstanding tax liabilities, such as unsubmitted tax returns or unpaid taxes, the bureau will send a letter to the company to handle them.
賢滙智慧 成就基石
Sage Wisdom, The Foundation of Your Success
賢滙企業服務
- 賢滙企業服務有限公司 (Licence No. TC010441)
- 廣州南沙賢滙企業策劃有限公司
- 賢滙會計
- 梁桂珊執業會計師