A Hong Kong limited company can be dissolved in two ways provided that it can settle all its outstanding liabilities :
Requirements for deregistration
- all members of the company agree to the deregistration of the company;
- the company has never commenced operation, or has already ceased business for more than 3 months;
- the company will not start/resume business in the future;
- the company has no assets and has disposed of all trading stock, landed property and securities, if any;
- the company has no outstanding liabilities which include Profits Tax, Property Tax, Stamp Duty, Business Registration fee, fines and penalties in connection thereof and court fees;
- the company has no outstanding obligations under the Inland Revenue Ordinance. These include submission of return(s) which has (have) been issued by the Inland Revenue Department, liability to notify the Commissioner of Inland Revenue in writing that the company is chargeable to tax for any year of assessment in which a return has not been received;
- there are no unanswered enquiries from the Inland Revenue Department;
- there are no unsettled objections or appeals in respect of assessments already raised;
- all the annual returns have been filed.
Our fee for deregistration of a Hong Kong limited company is HK$2,500 (including disbursements of about HK$900). This process will take about several months to complete, and any creditor of the company can re-open the company for any outstanding debts.
Our fee for liquidation of a Hong Kong limited company with minimal assets is HK$22,000 (including disbursements of about HK$12,000). This process will take about one year and the company cannot be re-opened after dissolution.