The procedures for insolvency liquidation of Hong Kong companies are as follows:
1、
A Hong Kong company must hold a general meeting of shareholders, and shareholders holding 75% of the shares must agree to the resolution of liquidation.
2. The liquidation resolution shall be approved by the board of directors of the Hong Kong company.
3. Authorize the directors of a Hong Kong company to take charge of liquidation procedures.
4. Submit the relevant documents to the Hong Kong Companies Registry within 3 days after the resolution is passed, otherwise the resolution will be regarded as invalid.
5. Appoint a lawyer or certified public accountant as the provisional liquidator of a Hong Kong company.
6. Published in the Gazette.
7. Convene all creditors to hold the first creditors' meeting within 28 days after the adoption of the resolution.
8. Publish the second Gazette within 7 days after the resolution is passed, and notify all creditors for registration.
9. When all assets of Hong Kong companies are sold, the Hong Kong government will collect administrative fees and give priority to creditors, but stamp duty will be paid when each debt is repaid.
Finally, the liquidator made a statement and submitted it to the Hong Kong government department. The declaration document must specify the amount of assets of the Hong Kong company in detail, regardless of whether the amount sold comes from surplus or not, and submit it to the Hong Kong Companies Registry. If there is no objection, the liquidator can proceed to the next step.
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