HK Company Deregistration

In the context of globalization, Hong Kong, as an international financial center, has attracted a large number of companies to register here. However, with the changes in the market environment and the strategic adjustments of individuals or companies, it is sometimes necessary to cancel or transfer existing Hong Kong companies. This article will introduce in detail the process of Hong Kong company cancellation and the costs that may be involved in company transfer, and introduce how to complete these processes efficiently through NEO.

Hong Kong company cancellation process

When a company decides to cease operations and end its existence in a legal sense, it needs to be cancelled in accordance with the prescribed procedures. Here are the basic steps:

1. Convene a board meeting: Before cancellation, a board meeting must be held to discuss and resolve the company's cancellation.

2. Notify the Company Registry: Submit a cancellation application to the Hong Kong Company Registry and attach the last financial statement. This step requires the company's directors to sign the relevant documents.

3. Clean up the company's accounts: Make sure all debts have been paid, otherwise the cancellation application may be rejected.

4. Announcement cancellation: Publish a notice in the Hong Kong Special Administrative Region Department Gazette announcing that the company will be cancelled. This usually requires notifying the company's creditors at least one month in advance.

5. Formal cancellation: If the cancellation application is approved, the company will be officially cancelled and its files will be transferred to the archives of the Company Registry.

The whole process takes about 6 to 9 months, during which certain department fees and professional service fees (such as accountants, lawyers, etc.) need to be paid. The total cost is usually between 10,000 and 20,000 Hong Kong dollars.

Costs required for Hong Kong company transfer

For shareholders who want to continue to retain the company but want to transfer its ownership to others, company transfer is a good choice. The following are the main cost items:

1. Equity transfer price: This is the amount paid by the buyer to the seller for the company's equity. The specific amount depends on factors such as the company's registered capital and business conditions.

2. Transfer handling fees: including but not limited to legal fees, notarization fees, agency fees, etc. These fees depend on the specific circumstances and usually range from several thousand to tens of thousands of Hong Kong dollars.

3. Department-related fees: such as industrial and commercial registration fees, stamp duties, etc. Among them, stamp duties are calculated based on a certain proportion of the equity transfer price.

Why choose NEO?

NEO has extensive industry experience and a professional team to provide customers with a full range of services:

Personalized solutions: We provide customized solutions for companies of different sizes and industries to ensure that the unique needs of customers are met.

Efficient execution: With a deep industry background and expertise, our team is able to complete tasks quickly without compromising quality, helping customers avoid unnecessary delays.

Full support: From initial consultation to final completion, NEO provides customers with full guidance and support to ensure that every step goes smoothly.

Transparent fees: We promise to be open and transparent in pricing strategies, eliminate any hidden fees, and give customers a clear understanding of every expenditure.

Whether it is deregistering or transferring a Hong Kong company, it is a complex process involving multiple aspects of preparation and expenses. By working with NEO, you can get professional advice and services to ensure that the entire process is both compliant and efficient. If you are considering deregistering or transferring your company, or want to know more details, please feel free to contact our professional advisory team.