Important things to know before deregistering/ cancellation of Hong Kong company

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Compared with the registration of Hong Kong companies, the process of cancellation of Hong Kong companies will be more complicated. Therefore, it is very important to deal with the problems in advance and grasp the cancellation time. Looking for a professional organization to handle the cancellation for you will save more time and effort. So what should we pay attention to in the cancellation of Hong Kong companies? Here's a brief answer for you today:
 

First of all, please check and confirm the company has handled the following matters before cancellation:

1. Have the company's trademarks, websites and other assets been disposed of?
2. Is the company's bank account closed? If you cancel the account before closing, the account will be frozen by the bank and the money in your account will be transferred directly to the Hong Kong government
3. Before the cancellation of the company, please confirm that the investment projects or related companies in your company's name have been disposed of, so as to avoid the normal operation of the investment projects or related companies caused by the cancellation of the company
4.Does the Hong Kong company have any other subsidiaries? If so, please make sure that it has been handled. Otherwise, the operation of the subsidiary and the possible cancellation will be affected after the parent company's cancellation, and the parent company's information is needed to handle it;

5. Before the cancellation of the company, it is necessary to confirm that the following situations have been completed: all members of the company agree to cancel the registration, and the company has never started or ceased business three months before the cancellation; The company will not commence (RE) business; The company has no outstanding taxes or debts; There are no tax returns to be submitted to the IRD or there are still unanswered government enquiries; There are no outstanding objections or appeals to the company's assessment.
 

Secondly, How early to prepare for the cancellation/ deregistration of Hong Kong company?
It is generally recommended to apply for cancellation of a Hong Kong company three months to six months in advance.
 

How long does it take to deregister the Hong Kong?
It takes a long time for Hong Kong companies to write off, which takes about 6-8 months.


Contact Us
For more detailed information regarding the price for Hong Kong company cancellation/ deregistration, Hong Kong company tax service, Hong Kong company bank account, Hong Kong company annual return, Hong Kong trademark, Hong Kong Barcode, etc., please feel free to contact us via 86-755-82143023 or email to selinawu@citilinkia.com.