In short: a Hong Kong company you no longer need should be closed formally. Otherwise reporting, audit and secretary obligations continue, and penalties build up. For debt-free companies that have stopped operating, deregistration is usually the right route.
Ways to close
- Deregistration — for companies that have ceased business and have no debts or assets. Requires consent from the Inland Revenue Department (IRD).
- Voluntary winding-up — when the company has assets or liabilities. Carried out by a liquidator.
How we close your company
- Review. We check filings, taxes, accounts and liabilities.
- Preparation. We help file any overdue returns and close accounts.
- IRD consent. We request a notice of no objection from the IRD.
- Application. We file the deregistration application with the Companies Registry.
- Completion. After a notice is published in the Government Gazette, the company is removed from the register.
What we need from you
- Company documents and account details.
- Information on assets and liabilities.
- The directors' and shareholders' agreement to close.
Price
Closing a Hong Kong company — on request. The price depends on the state of filings and the route chosen.
FAQ
Can I just stop paying the secretary and filing returns?
No. The company's obligations remain and penalties accumulate. Closing it formally is the better route.
When is winding-up needed instead of deregistration?
When the company has assets or debts, or does not meet the conditions for deregistration.
Do I need to travel to Hong Kong?
No, the process is handled remotely.