Deregistration

Company deregistration refers to the formal process of declaring the cessation of a business or the end of activities of a corporation (limited company) to government authorities, thereby ending its legal status and obligations. In Hong Kong, the deregistration of a company is a relatively complex and tedious process, requiring the completion of numerous legal and administrative procedures. If the company directors fail to comply with statutory requirements for deregistration, the company and its directors may face legal liabilities and fines.

AC Accounting has provided a one-stop professional service for many years, from company formation to company deregistration, dedicated to serving the small and medium enterprises in Hong Kong, ensuring that business operations are concluded legally and smoothly.

Deregistration Process

Resolution for Deregistration by Directors and ShareholdersThe company needs to convene a general meeting of shareholders and pass a resolution for deregistration. All shareholders must attend the meeting or sign a written resolution, agreeing to the decision to deregister the company.

Settlement of All Debts and Distribution of AssetsOne of the conditions for applying for deregistration is to ensure that the company has settled all of its debts, including business registration fees and taxes, and has made a distribution of the company's assets (if any).

Application for a Letter of No ObjectionObtaining the Letter of No Objection issued by the Inland Revenue Department is an important part of the deregistration application process. The Inland Revenue Department will ensure that the company has settled all its taxes before issuing the Letter of No Objection.

Submit an application to the Companies RegistryAfter receiving the Letter of No Objection from the Inland Revenue Department, clients need to submit the deregistration form (NDR1) to the Companies Registry, along with the government deregistration fee of $420 for processing.

Successful DeregistrationApproximately one month after the application, the Companies Registry will issue an acknowledgment of Confirmation of Deregistration and will publish the notice in the Gazette. If there is no objection within 90 days from the date of the notice, the company will officially complete the deregistration process.

Conditions for Deregistration

No Opposition from ShareholdersThe company must obtain the consent of all shareholders with no opposition to the deregistration application before applying for deregistration.
Business CessationThe company must apply for deregistration within three months after ceasing or ending its business activities.
No Outstanding Financial AffairsThe company must settle and deal with all financial affairs before applying for deregistration, including paying off all debts and liabilities, settling all taxes, and resolving any legal proceedings and tax matters.
Obtained a 'Letter of No Objection' from the IRDA major condition for company deregistration is to apply for and obtain a 'Letter of No Objection' from the Inland Revenue Department, indicating that the company has fulfilled its tax obligations.
Not Involved in Any Legal ProceedingsThe company must settle allNo Opposition from Shareholders Before applying for deregistration, a company must secure the consent of all shareholders and ensure that there is no opposition to the deregistration application.
No Real Estate HoldingsBefore applying for deregistration, a company must liquidate all its assets and ensure that it does not hold any real estate property.

What our clients say?

We are happy to answer any questions regarding company deregistration

Hotline：(852) 3580 1380 / WhatsApp：(852) 6706 0903

WhatsApp Inquiry Apply Now

FAQ About Deregistration

How long does it take to complete company deregistration?

The time required for company deregistration depends on the company’s circumstances and the requirements of the deregistration process. It typically takes between 6 months to 1 year. If the company has unresolved financial, legal, or tax matters, the deregistration process may take longer.

What fees need to be paid for company deregistration?

Deregistering a company requires the payment of various fees, including costs for company liquidation and handling, legal and tax advisory fees, government deregistration fees, etc. The costs depend on the company’s circumstances and the requirements of the deregistration process.

Is it necessary to settle all debts when deregistering a company?

Yes, deregistering a company requires the settlement of all debts and liabilities, including paying all taxes, clearing all debts and liabilities, and resolving any legal proceedings and tax matters.

Do taxes need to be paid after a company is deregistered?

Yes, after a company is deregistered, all due taxes and fees still need to be paid, including liquidation tax, corporate tax, stamp duty, et

Do records need to be retained after a company is deregistered?

是的，根據香港的法律要求，公司需要保留公司記錄和文書至少7年，以便日後需要查詢和證明。

More Professioanl Services

Tax Filing for a Limited Company

The annual financial statements of a Hong Kong limited company must be audited by a Hong Kong practicing accountant. The tax authority requires the limited company to file taxes based on the audited financial statements, along with a profits tax computation.

Tax Filing for unlimited company

The IRD issues tax returns to sole proprietors and partnerships. They are required to timely complete and submit the tax returns, along with the necessary computations, to the IRD. They may also reduce their tax liability through Personal Assessment.

Tax Filing for Individual

The IRD issues personal tax returns to individuals. You are required to declare all your salary income, profits from sole proprietorship business, rental income from wholly-owned properties, and claim deductions and allowances.

Annual Awards

Outstanding Chinese Enterprise of the Year 2023
(一帶一路傑出華人企業)

The Most Valuabble Brand (Asia Pacific) of the Year 2023
(最具價值亞太創業品牌)

Asia’s Most Valuable Services for the Year 2022
(亞太區最有價值服務)

The Most Reputable Professional Accounting Firm for the Year 2022
(最具信譽專業會計公司)

Most Reliable Accounting And Corporate Services of the Year 2021
(最可靠會計及企業服務)

HKMOS Awards
(最優秀服務大獎 2021)

Famous Brands Hong Kong
(香港著名品牌 2021)

_____________________________________

毅思會計 – 以專業貢獻社群，用心服務每位客戶