In recent years, more and more enterprises choose to set up companies in Hong Kong, mainly because the Hong Kong company registration process is simple, without the need for substantive examination; Hong Kong has few types of taxes and low tax rates; Mature business environment; The legal system is sound. However, not all enterprises are suitable for the registration of companies in Hong Kong .Then，what should I do to cancel a Hong Kong registered company ?
Hong Kong company cancellation process
The cancellation time: 4-6 months.
Cancellation of application documents:
1) 'End of Business Notice';
2) 'Request for Issuance of No Objection to Cancellation of Company Registration Notice';
3) Private company withdraws registration application;
4) 'Zero' employee declaration;
5) Non-operational business statement or audit report (if the company has operations).
Hong Kong company cancellation procedures:
1. The applicant applies to the tax bureau (no objection to the cancellation notice);
2. The tax authority issues a (no objection to the cancellation notice);
3. The company must submit the application cancellation and related fees to the company registration office.;
4. The Hong Kong Companies Registry has revoked registration in the Gazette.
What happens if a Hong Kong registered company is not deregistered?
Hong Kong companies registered after one year must go through the annual audit, if the delay will incur cumulative fines. If they fail to do so, they will receive a summons from the court. At the same time, the Hong Kong government will force the liquidation to be cancelled. The company will have to pay the annual audit fee and accumulated fines. Therefore, when the Hong Kong company is no longer in use, timely cancellation is the correct, safe and legal choice.
For more information about the advantages of ‘What should I do to cancel a Hong Kong registered company?’, please visit JV Consultants Limited (http://www.jvchk.com).