HK Company Wind Up/Cancellation/De-registration

HK Company Deregistration

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A Hong Kong private company may make an application to the Companies Registry for deregistration in Hong Kong if :
All the members of the company agree to deregistration;
The company has never commenced business or operation, or has ceased to carry on business or ceased operation for more than 3 months immediately before the application;
The company has no outstanding liabilities;
The company is not a party to any legal proceedings;
It has no immovable property situate in Hong Kong;
If the company is a holding company, none of its subsidiary’s assets consist of any immovable property situate in Hong Kong; and
The application is accompanied by a written notice from the Commissioner of HKIRD that he has no objection to the company being deregistered (the "Notice of No Objection")
Tannet assists clients to prepare all the relevant documents in relation to deregistration in Hong Kong and to attend filings of all required documents with the HKIRD and the Companies Registry.

Liquidation
Only a limited company, which is formed and registered under the Companies Ordinance, can be wound up. The term “winding-up” (or “wound-up”) bears a similar meaning of “liquidation”. It generally means that all the assets of the company would be realised (sold off and converted to cash) through a legal process in order to repay its debts. Winding-up would bring a company to an end

Members Voluntary Liquidation ("MVL")
When a Hong Kong company is solvent (solvent company defined as a company which can settle all of its debts in full) may also be dissolved by MVL.
Key Procedures:
Before commencing the liquidation, the company should attempt to settle all of its outstanding liabilities and minimize its asset holding in order to expedite the liquidation process.
To convene and hold a meeting to authorize the issue of a certificate of solvency and the convening of an Extraordinary General Meeting ("EGM") to consider the passing of a resolution for liquidation. If the Certificate of Solvency is not filed, the liquidation will automatically become a creditors' voluntary liquidation
Obtain consent of proposed liquidator to his appointment
Certain flings and advertising with Companies Registry and Gazette under requirement

Creditor’s Voluntary Liquidation ("CVL")
Preceding a CVL would be a situation either the company cannot pay its debts as they fall due or it has more liabilities than assets. In some circumstance, a provisional liquidator would be appointed for assets protection to the company until the meeting of creditors at which the liquidator is appointed.

Contact
If you wish to obtain more information or assistance, please contact us through the following and talk to our professionals:
Email: 2355725085@qq.com
Tel: +86-755-82148419
Wechat:13823131503