Hong Kong company de-registration

Since 2003, Healy Consultants Group PLC has been assisting our multinational Clients to de-register their Hong Kong entities and close the associated multi-currency corporate bank accounts. Within six months, Healy Consultants Group PLC will timely and effectively strike-off your Hong Kong LLC.

About Hong Kong company de-registration

  • According to the Hong Kong Companies Registry, a company must meet the following conditions before applying for de-registration:
    • It is not starting any operation or business, or has not been in operation or carried on business in the three months immediately prior to the strike-off application;
    • It has no outstanding liabilities;
    • It is not party to any legal proceedings;
    • Its assets do not consist of any immovable property located in Hong Kong;
    • It is a holding company, with none of its subsidiary’s assets consisting of any immovable properly located in Hong Kong; and
    • It has obtained a ‘Notice of No Objection to a Company being Deregistered’ (‘Notice of No Objection’) from the Commissioner of Inland Revenue;
    • All company members agree to the deregistration.
  • Clients choose to de-register their Hong Kong company to minimise any costs arising over a defunct solvent company, or to transfer their business from the local market;
  • Once the company is de-registered, the entity remains in the Companies Registry in a dormant status, and can be re-activated in later stage, if required. During this period, our Client is free of annual legal, accounting and tax obligations in Hong Kong;
  • Local and international creditors can continue to pursue a de-registered Hong Kong entity;

Steps to strike off a Hong Kong company

On behalf of our multi-national Clients, Healy Consultants Group PLC will be pleased to project manage the de-registration of their Hong Kong entity. Below is a summary of engagement steps:

  1. Our Client settles Healy Consultants Group PLC’s renewal / de-registration invoice and signs our engagement letter;
  2. Our Client accurately and completely discharges their annual Hong Kong legal and compliance, accounting and tax obligations. This includes i) submitting an up-to-date financial statement showing zero assets/liabilities in the balance sheet and ii) applying to the Inland Revenue Department (IRD) for a corporate tax return submission waiver (if eligible);
  3. Healy Consultants Group PLC submits an online application to Companies Registry, including Form NDR1;
  4. Over the following months, Healy Consultants Group PLC’s in-house Legal and Compliance Department communicates with the Hong Kong government, answering any questions and supplying additional information, if required;
  5. Simultaneously, Healy Consultants Group PLC also checks with the Business Registration Office of the IRD to settle outstanding business registration fees (if any);
  6. Within six months, we receive official strike off notice from the Hong Kong Companies Registry;
  7. Within three weeks of approving the strike-off application, and if there is no objection from any party, the Companies Registry publishes the same in the Official Gazette.

Engagement fees

Healy Consultants Group PLC’s one-time fee to complete Hong Kong company de-registration is US$6,075. Refer to embedded PDF file to view an example of a Hong Kong de-registration invoice.

For the six-month de-registration period, i) company secretary and ii) legal registered office address and iii) dormant accounting and tax fees are still applicable.

Conclusion

  • To avoid potential additional accounting and tax burdens from a defunct solvent company, Healy Consultants Group PLC will be pleased to timely assist our international Clients to timely accurately and completely discharge their local annual legal, accounting and tax obligations;
  • Healy Consultants Group PLC will also be happy to assist our international Client who would like to transfer their business to a new jurisdiction to de-register their Hong Kong business.

Contact us

For additional information on our business setup services in Hong Kong, please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi
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