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:
- Our Client settles Healy Consultants Group PLC’s renewal / de-registration invoice and signs our engagement letter;
- 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);
- Healy Consultants Group PLC submits an online application to Companies Registry, including Form NDR1;
- 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;
- Simultaneously, Healy Consultants Group PLC also checks with the Business Registration Office of the IRD to settle outstanding business registration fees (if any);
- Within six months, we receive official strike off notice from the Hong Kong Companies Registry;
- 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.
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.
- 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.