According to the Companies Ordinance and the Taxation Ordinance of the Hong Kong Government, if a Hong Kong limited company ceases to operate, it needs to go through the cancellation procedure according to law. Cancellation time of Hong Kong Company: The company in Hong Kong shall start from the date of application for cancellation8-12A month.
If your Hong Kong company is no longer in operation and fails to make annual audit and tax return on time, then you will be punished by the Companies Registry and the tax Bureau.
fineWill be subject to fines by the Companies Registry and Inland Revenue Department (based on the overdue date)
SueThose who fail to settle the fine within the time limit will be prosecuted to court
Be blacklistedIf the lawsuit is not handled by the court, the Hong Kong company will be forcibly revoked and the investor will be blacklisted.
If the Hong Kong company wants to cancel, it is suggested to cancel as soon as possible, because in the process of cancellation, if the Hong Kong company is up to the time of annual inspection, it needs to complete the annual inspection before continuing the cancellation process of the Hong Kong company. Applying for cancellation as soon as possible before the annual inspection of the next year can also save part of the annual inspection costs.
1: If the customer has a bank account, remind the customer to cancel the bank account before cancellation to prevent the loss of funds
2: Confirm customer requirements in time and start the cancellation procedure as soon as possible to avoid other costs
3We will prepare a full set of documents to save time and worry
If you have any questions about overseas companies, please leave your email to us and we will contact you within 24 hours.
