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What should Hong Kong companies pay attention to before cancellation?

Released Date: Nov 17,2021 Article Source: HUANZE

Many enterprises register Hong Kong companies to operate international business. In the process of operation, Hong Kong companies may hold some assets, such as intangible assets such as registered trademarks and patents, or hold immovable property. If there is a registered company in Hong Kong, there will be a cancellation of the company in Hong Kong. If the enterprise changes its profession or does not do international business, it will need to handle the cancellation of the company in Hong Kong.

Many enterprises register Hong Kong companies to operate international business. In the process of operation, Hong Kong companies may hold some assets, such as intangible assets such as registered trademarks and patents, or hold immovable property. If there is a registered company in Hong Kong, there will be a cancellation of the company in Hong Kong. If the enterprise changes its profession or does not do international business, it will need to handle the cancellation of the company in Hong Kong. But the cancellation of Hong Kong company before special attention to deal with the following matters, so as not to trouble in the future.

First, if a Hong Kong company has intangible assets of intellectual property such as trademarks, patents and software Copyrights, it is suggested to transfer or sell them first. After the company is cancelled, these intangible assets will become ownerless assets and cannot be dealt with.

Second, if a Hong Kong company holds real estate under its name, it is suggested that the transfer procedures should be completed first, so as not to become an ownerless asset and cannot be handled.

Third, Hong Kong companies holding other assets, also suggested to do a good job in advance of asset disposal.

The main purpose of properly disposing of various assets under the name of a Hong Kong company, such as transferring them to individual shareholders or reselling them to others, is to prevent these assets from becoming ownerless and unable to be disposed of again after the cancellation of the Hong Kong company. Of course, if the shareholders think the assets are useless, it doesn't matter, then they don't have to deal with it.

What should Hong Kong companies pay attention to before cancellation?

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