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Hong Kong company must do the following things before cancellation

Released Date: Aug 30,2021 Article Source: HUANZE

Under the Hong Kong Companies Ordinance, a company preparing to apply for deregistration of a Hong Kong company must meet the following conditions:

Prepare the application under the Hong Kong Companies OrdinanceCancellation of Hong Kong companyThe company must meet the following conditions:

1.All members of the company agree to deregister;

2.The company has not commenced operation or carried on business or is immediately before the application is made3No operation or business carried on within a month;

3.The company has no outstanding debts;

4.The company is not a party to any legal proceedings;

5.The company's assets do not include real estate in Hong Kong;

6.(If the company is a controlling company) The assets of all subsidiaries of the Company do not include immovable property located in Hong Kong;

7.The company has obtained a Notice of No Objection from the Commissioner of Inland Revenue(Notice of No Objection).

8.To discharge its obligations under the Companies Ordinance until the company is dissolved, all outstanding annual returns and fees must be delivered.

9.The account of the company shall be closed in time, and the bank deposits under the account shall be transferred out or dealt with properly in time to avoid property losses that may be caused by the company's cancellation.

10.Trademarks, patents, Copyrights and other intangible assets (if any) under the company's name shall be transferred out in time or dealt with properly to avoid possible problemsCancellation of Hong Kong companyResulting in property damage.

Hong Kong company must do the following things before cancellation

CycloseThe company is committed to providing domestic and foreign customers with corporate audit, tax declaration, registration, annual inspection, tax planning and other services in Hong Kong, Singapore, Dubai and other regions. Efficient, rigorous, intimate service has been favored by many private enterprises, listed companies and large state-owned enterprises.

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