Liquidation of a company in Hong Kong from 950 $

Direct service from a licensed registrar saves up to 40% of your budget and ensures full compliance with the requirements of the Hong Kong Companies Ordinance in the liquidation of a business.

License from the Hong Kong Companies Registry TCPS №TC007080

Full support of the company in the process of liquidation in order to comply with the legislation

100% compliance with all requirements of the law and support of the victorious end process.

There are 2 ways to voluntarily liquidate a company in Hong Kong

Liquidation

— cancellation of company registration (removal of the company from the register)

Members’ voluntary winding up

— voluntary liquidation by the company’s participants

Deregistration of a company in Hong Kong (removal of a company from the register, registration, liquidation)

It is the most widely used way to liquidate a company. This method is possible if the company has never started its activity or stopped it more than 3 months ago and the company has no outstanding obligations.

Before filing an application for registration (liquidation) of a company with the Hong Kong Registration Authority (in accordance with section 750 of the Companies Ordinance), it is possible if the following conditions are met:

all participants of the company agree to the implementation of the process of deregistration (liquidation);
the company either did not start commercial activity, or ceased such activity at least 3 months before filing an application for deregistration (liquidation);
the Hong Kong company has no outstanding obligations;
The Hong Kong company is not involved in litigation;
the company does not have real estate in Hong Kong;
the company is a holding company and none of the assets (namely real estate) of its subsidiaries is located in Hong Kong;
Deregistration is not opposed by the Hong Kong Inland Revenue Department (a company applying for deregistration (liquidation) is required to prepare and submit a tax return to the Hong Kong Inland Revenue Department with an appendix of audited financial statements before it ceases commercial activity. This is necessary as part of the implementation of Hong Kong law and also to receive a notice of no objection. The company’s final financial statements should reflect that the company has no outstanding obligations and is ready to initiate the deregistration/liquidation procedure in Hong Kong).

The registration (liquidation) process in Hong Kong, on average, takes a period of 8 months or more (depending on the specific situation and the workload/speed of processing each specific case by the Hong Kong government authorities).

Important: Until the moment of official deregistration (liquidation), a company in Hong Kong is obliged to comply with all the norms of the current legislation on companies in Hong Kong, including filing annual declarations and notifications, accounting and auditing, holding meetings of directors and participants.

After registration (liquidation) and despite this fact, the obligations of the company, if any, as well as of each director, officer and participant of the company must be fulfilled.

The property (movable and immovable), as well as the rights owned or held in trust by the Hong Kong Company immediately before its deregistration (liquidation), will be considered as having no owner and will pass into the possession of the Hong Kong Government. Therefore, it is important to take care of the correct transfer of the company’s assets before the liquidation of the company.

The procedure of deregistration (liquidation) of a company in Hong Kong consists of the following stages:

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The cost of company deregistration:

Preparation of the company’s liquidation report

from 950 $

The cost of the registration process support service is

from 1800 $

Structure of documents on deregistration (liquidation) of a company in Hong Kong:

Confirmation of the request for deregistration (liquidation) of the company in Hong Kong

Confirmation of deregistration (liquidation) of the company in Hong Kong

Form of request for no objection from Hong Kong Revenue Authority to liquidation

No Objection Letter IRD Hong Kong – No Objection Letter from Hong Kong Revenue Authority to the Liquidation

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Voluntary liquidation by the company’s participants

The purpose of voluntary liquidation by the campaign participants in Hong Kong is to complete the company’s activities and liquidate the legal entity. Voluntary liquidation of the company is possible when the company is able to fully repay its obligations within the statutory period.

The approximate period is from 8 to 14 months

Stages of the company’s voluntary liquidation process:

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01

Preparation by the directors of the company of an Opinion on the solvency of the company in accordance with Section 233 (1) of the Resolution on Companies (Liquidation and Other provisions). The report should also contain a report on the assets and liabilities of the company as of the last reporting date. The Report must be prepared on the basis of up-to-date financial statements prepared no later than 3 months prior to the preparation of the Report, and contain actual estimated evidence that the company is able to repay all its obligations within 12 months from the date of adoption of the resolution on voluntary liquidation of the company.

02

Holding a meeting of the Board of Directors. The issue under consideration is a proposal for voluntary liquidation. If the Conclusion on the company’s obligations proves that the company is able to fulfil all obligations within the prescribed period, the Directors decide to convene a general meeting of shareholders (GM) of the company to consider the issue (decision) on voluntary liquidation.

03

Sending a notice to the company’s shareholders on holding a general meeting of shareholders on the issue of voluntary liquidation of the company. Must be sent at least 14 days before the date of the meeting in accordance with section 571 of the Hong Kong Companies Ordinance. Or the signing by at least 95 percent of the company’s shareholders of the “Consent to a brief Notice” of the meeting.

04

Holding a general meeting of shareholders of the company in Hong Kong on the issue of voluntary liquidation of the company. The General Meeting of shareholders of the company must be held within five weeks from the date of preparation of the Conclusion. At the general meeting, a special decision is made to start the voluntary liquidation process and a liquidator is appointed.

05

The decision on the voluntary liquidation of a Hong Kong company must be submitted to the Hong Kong Companies Registry and published in the Hong Kong Government Gazette within 15 days from the date of the Decision.

06

In addition, in accordance with article 253 of the Companies Ordinance, liquidators are required to publish in the Hong Kong Government Gazette, as well as to send a Notification of their appointment to the Hong Kong Companies Registry (Company Registry) within 15 days after the date of such appointment.

07

Voluntary liquidation of a company begins with the adoption of a special Resolution on the termination of activities. From the moment of appointment of the liquidator, the directors of the company terminate their powers.

08

Receipt by the Liquidator from the Hong Kong Inland Revenue Department of confirmation (“tax clearance”) that the company has no tax arrears.

09

Preparation by the Liquidator of a report showing the distribution of assets and repayment of all liabilities of the liquidated company.

10

Publication in the Hong Kong Government Newspaper of information on the holding of the final shareholders’ Meeting no later than one month.

11

Holding the final meeting of the company’s participants. A special Decision is made at the meeting, within the framework of which the company’s accounting documents must be deposited in the Companies Registry three months after the termination of the company’s activities and the presentation of a report on the balance of accounting accounts prepared by the liquidator.

12

The liquidator must, within one week after the final meeting, send the accounting accounts and the minutes of the final meeting to the Companies Registry. After three months after the registration of the minutes of the last meeting, the company is liquidated.

It is important to note that within 2 years after the company is liquidated, any person who officially declares that he or she has suffered losses in connection with the voluntary liquidation of the company, the company can be restored to resolve the situation. This circulation period can be extended (restored) at the request of the liquidator or other interested person on the basis of a court decision.

The cost of voluntary liquidation of the company:

● Preparation of the company’s liquidation report

from 1 200 $

The cost of the service support of the voluntary liquidation process is

from 2 400 $

Why more than 150 companies have chosen us

Step 1 of 5

License from the Hong Kong Companies Registry

We are a corporate secretary authorized by the Hong Kong Companies Registry (TCPS License No. TC007080) to provide corporate service.

Step 2 of 5

First-hand prices

We provide services directly without intermediaries. This guarantees high-quality service, fair prices and prompt execution during registration and further maintenance of the company.

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We serve clients from more than 30 countries

China, India, UK, France, Spain, Venezuela, USA, Switzerland, Austria, Finland, Germany, Mexico, Australia, Thailand, Cyprus, Vietnam, Bangladesh, UAE, South Korea, Indonesia, Montenegro, Argentina, Chile, Brazil, South Africa, Canada, Kazakhstan, Russia, Ukraine, Moldova, Turkey

Frequently asked questions

How long does the liquidation process take?

On average, this process takes from 8 to 14 months (depending on the situation, it may take longer). But we do all the work. It’s not noticeable to you.

Is it possible to liquidate a company with debts?

Yes, but this is a more complex process. Creditors and members of the company may propose candidates for liquidators. The liquidator performs the duties of distributing the remaining assets of the liquidated company and satisfying the queue of creditors, and is also obliged to check the company’s operations for illegal actions.

Is it possible not to provide all the information during the liquidation of the company?

Providing false or incomplete information may have legal consequences for authorized persons of the company, up to criminal liability. Therefore, it is necessary to provide information in full and reliable form.

Is it possible to leave the company and not liquidate it?

We do not recommend it. As a result, court decisions will be taken against the company to collect fines for repeated violations of Hong Kong law, directors and shareholders will be blacklisted in Hong Kong, and criminal proceedings may be initiated if large amounts of income are concealed. All these consequences are not worth bringing to them. The company needs to be closed in a legal way.

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Vita Liberta Limited

Office room 68, 7/F, Woon Lee Commercial Building, 7-9 Austin Ave, Tsim Sha Tsui, Kowloon, Hong Kong
BRN 71319262
TCSP License No. TC007080