It takes around 8 months to close down a company in Hong Kong. You are now thinking: “THAT’S LONG, HOW COME?” It is a thorough process, and I will explain you now the different steps!
- Inform your company secretary that you are needing to close down the company
- Your company secretary will inform the Company Registry and Inland Revenue Department of your decision.
- Inland Revenue Department posts out publically if anyone objects this company to close down – to avoid companies that have not settled bills to their suppliers to runaway. This post will be up for 6 months.
- If there is no objection from the public, IRD and Company Registry will then contact the other concerned departments, such as Revenue Department, Tax Department, etc., whether you have any outstanding payment.
- If all your obligations have been duly paid, the Company Registry will then disclose publicly the fact that your company is going to be shut down.
- If everything is in order by then, a letter will be sent to the company registry so that they double confirm the facts.
- After one month double checking, the company registry will send a letter to your registered office to confirm that the company will be definitely closed down!
*Note that if there is any issue during the whole process, you can expect to spend another 8 months waiting for your company to be closed down!
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