Other Info:
  • Why Hong Kong? → Hong Kong is one of the most competitive economies in the Asia-Pacific… Know More
  • Can foreigner open a company in Hong Kong? → Yes. Hong Kong allows 100% ownership to foreigners who can be both shareholder… Know More
  • What are the basic requirements to set up a company in Hong Kong? → A chosen company name… Know More

Deregistration and Restoration

If your business plan does not go well, you may consider closing the company with the deregistration process. In Hong Kong, a private company may apply for deregistration when all members agree to the deregistration and when it has no outstanding liabilities or not a party to any legal proceedings. The procedures commence with passing a resolution by all members for deregistration, submitting the application forms with fees to the HK government. Then, a no-objection letter will be obtained from relevant government bodies. The Registrar will then publish a notice of the proposed deregistration in the Gazette unless there is an objection within three months. If no objection is received, the Registrar will deregister it by publishing another notice in the Gazette. Consequently, the company is dissolved on deregistration. From our experience, it usually takes around 6 to 9 months to close a company in Hong Kong.

However, if you regret and wish to restore your company after dissolution, you can restore your company within 20 years after the date of dissolution. The application of company restoration has to be submitted with a statement- that the applicant was the directors or members of the company, and the cost and expenses during the period of dissolution have been paid or reimbursed by the applicant. 


1. How can I close my Hong Kong Company?

You should submit a deregistration application to both Inland Revenue Department and Companies Registry.

2. What is the procedure for the closing down my Hong Kong Company?

You should apply to the Inland Revenue Department to issue a “No Objection Letter” to your deregistration application. Upon receipt, you will need to bring this “No Objection Letter” with a Deregistration form NDR1 to Companies Registry. After three months of notice on Government Gazette, your company shall be deregistered from the Registers of Companies Registry in Hong Kong.

3. Is there a Government fee for de-registration?

Yes, you should pay HK$270 to Inland Revenue Department and HK$420 to Companies Registry.

4. How do I start the de-registration process?

You can proceed the payment in person at the counters of Inland Revenue Department and Companies Registry. In case you submit the de-registration application by post, you should prepare a cheque or bank draft of exact fees and make payable to “The Government of HKSAR”.

5. What is voluntary Company Deregistration?

A voluntary company deregistration can be initiated by a director, shareholder or an authorized person of your company. All shareholders must agree on the deregistration.

6. What are the limitation?

The company must have no disputes, no creditors, no immovable property and no legal proceedings in place. The company is also not a company fall within the definition in section 749 of the Companies Ordinance.

7. If I cannot contact the other shareholders, can I deregister the Hong Kong Company?

No, all members of the company must agree to the deregistration application.

8. Do I need to clear my company tax liability in Hong Kong?

Yes, your company must settle all the tax liabilities including the Profit Tax Return, Employer’s Return and associated tax payment.

9. How long does it take for my company deregistration?

The whole deregistration process is about 6 to 9 months. The Inland Revenue Department usually takes 1 to 2 months to complete your tax assessment. A deregistration notice shall also be published on Gazette for 3 months. If members of public do not object to your deregistration, the company shall be deregistered from the registers of Companies Registry.

10. Can I appoint CheapIncorporation to handle my company deregistration matters?

Yes, we are always happy to help. We can submit your deregistration application on your behalf and communicate proactively with the Inland Revenue Department and c.

11. How much is it for CheapIncorporation to handle my Company Deregistration?

Our professional fee is HK$5,000 inclusive the preparation and submission of all deregistration documents and all Government filing fees. We shall monitor your deregistration on a regular basis to make sure the process is smooth and efficient.

12. Do I still require to keep company secretary and registered address service?

Yes, your company has a statutory duty to keep your company secretary and registered address service until the date of deregistration.

13. Can I authorize CheapIncorporation to sign on my deregistration documents?

Yes, we can help sign on your deregistration documents after the members pass a shareholder resolution with all members agree on the company deregistration.

14. What is a company voluntary winding up?

A company can initiate a winding-up procedure disregard the financial status of the company. 

15. What are the procedures?

The company should call a general meeting and pass a special resolution for the winding-up. The company shall then apply a winding-up order at the Court. Alternatively, you can refer to solution listed in FAQ 16.

16. How can I wind up my company without a court order?
  1. The shareholders shall pass a special resolution for voluntary winding-up.
  2. The company shall put on a notice of the resolution in the Government Gazette within 14 days from the date of the resolution.
  3. The company shall call a meeting of creditors. The notice for the meeting should be advertised in the Government Gazette and in Chinese and English newspapers.
  4. The directors of the company shall make a full statement before the meeting on the position of the company’s affairs, a list of creditors and the estimated amount of their claims. A resolution shall be passed at the meeting for the details of the winding-up matter.
  5. The company shall notify the Companies Registry and Inland Revenue Department for voluntary liquidation in order to clear tax liabilities by submission of a last audited financial statements.
  6. Upon the company affairs has been settled, the members shall produce an account of the winding-up, and call a final meeting of the company and the company’s creditors.

 

17. What are the advantages for voluntary winding up versus company deregistration?

You can have a fair distribution of the company properties and assets in case of any dispute among the shareholders.

18. What is the service fee for voluntary winding up?

Our professional fee starts at HK25,000 depends on the complexity of your case.

19. How long does it take?

The process generally takes around 6 to 10 months.

20. What is the action of Striking off?

The Companies Registry can strike a company off the record if you fail to keep the company in good standing.  

21. Can I restore my strike-off company?

Possible. You may restore your company by way of administrative restoration or a court order. 

22. What is an administrative restoration?

Administrative restoration is a procedure to restore a struck off company to Companies Register by the Companies Registry.

23. Should I lodge the administrative restoration application to Companies Registry and Inland Revenue Department?

You should only apply to the Companies Registry. Once the company is active again, the company registry shall inform the Inland Revenue Department. 

24. What are the limitations?

The company must satisfy the following conditions for the administrative Restoration. 

  1. The company was in operation at the time its name was struck off.
  2. In case the company holds any immovable property in Hong Kong which has become vested in the Government as bona vacantia, the Government issues a no objection to the restoration.
  3. The company must bring up to date the records of the company kept by Companies Registry.
  4. The company must pay or reimburse the Government’s costs, expenses and liabilities in dealing with the property or right during the period of dissolution, or in connection with the proceedings on the application.
25. How long does it take for my company to be restored?

It takes 1 months for the Companies Registry to restore your company on the conditions that your company has submitted all required documents.

26. Do I need to pay for all the outstanding fees after the restoration?

Yes, the company has to settle all outstanding fees includes the Business Registration fees and Annual Return late fees from the date of striking off.

27. Do I need to provide any business proof or reasons for the restoration?

The company may need to provide proof that the company was in operation or carrying on business. The proof is usually in the form of contracts, invoices, transactions records and other operating evidences.

28. If I cannot reach the other shareholders, can I still start the administrative restoration?

No, the Companies Registry will require the written authorizations of all members for making the application of administrative restoration.

29. What will happen to my closed bank account in Hong Kong? Can I restore the bank account as well?

Your company shall apply to the bank for a new bank account. You cannot restore your old bank account numbers.

30. How much is it for CheapIncorporation to handle my administrative restoration?

Our professional fee starts at HK$8500. The final quotation shall depends on the complexity of your case and the numbers of outstanding matters.

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