Hong Kong company de-registration in 2024

Since 2003, Healy Consultants Group has been assisting our multinational Clients to de-register their Hong Kong entities and close the associated multi-currency corporate bank accounts. Within ten months, Healy Consultants Group 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 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’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 submits an online application to Companies Registry, including Form NDR1;
  4. Over the following months, Healy Consultants Group’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 also checks with the Business Registration Office of the IRD to settle outstanding business registration fees (if any);
  6. Within ten 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’s one-time fee to complete Hong Kong company de-registration is US$2450.

  For the ten month de-registration period, i) company secretary and ii) legal registered office address and iii) dormant accounting and tax fees are still applicable. Based on the above, estimated total deregistration fees to amount to US $4,950.

• Conclusion

  • To avoid potential additional accounting and tax burdens from a defunct solvent company, Healy Consultants Group 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 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.