Hong Kong company cancellation can be understood as Hong Kong company dissolution, liquidation and deregistration. Once you have come to the conclusion that you no longer need your Hong Kong company, you can apply to the Hong Kong Companies Registry to deregister it officially. The following are the frequently asked question concerning this matter.
Q: How to deregister a Hong Kong company?
The deregistration process starts with the application for a Notice of No Objection from the tax authority. This is very similar to getting a tax clearance letter from the tax aurthority (Inland Revenue Department). Once the company receive the Notice of No Objection, the company then files the application for deregistration with the Companies Registry together with the original copy of the Notice of No Objection.
In most of the cases, a deregistration application will take around 6-8 months to process. A company is officialy deregistered upon receipt of a confirmation letter from the Companies Registry.
Q: What documents are needed when making the application?
(1) A properly-completed Application Form (IR1263); and
(2) A crossed cheque, draft or cashier order for the application fee.
Your application will be rejected if:
(1) the Application Form is not properly-completed; or
(2) your cheque is not properly-drawn or is dishonored.
Q: Why a Notice of No Objection (NNO) is required?
With effect from 11 November 1999, a Hong Kong incorporated private company which has ceased its operation and is solvent may apply to the Companies Registry under s. 291AA of the Companies Ordinance (Cap. 32) for deregistration. However, the application must be accompanied by a NNO issued by IRD under s. 88B of the Inland Revenue Ordinance (Cap. 112). The nature of the Notice of No Objection is a clearance letter evidencing that the company, as of the date of issue of the letter, does not owe any money, such as outstanding business registration fee or tax or levy, to the Hong Kong Government.
Q5: When to get the result of the application?
Normally, a Notice of No Objection, or a Notice of Objection if there are unsettled tax matters or liabilities, will be issued within 25 working days from the date of receiving the application or the fee, whichever is the later. In practice, If there are any unsettled tax matters or liabilities, the Inland Revenue Department will issue a letter listing all outstanding issues for your settlement. Once those outstanding issues are fully settled, you can request the issue of NNO with paying the fees again.
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