The so-called compulsory liquidation and cancellation means that the annual review is not carried out on time, the fine is not paid, and the court summons is received, so that the Hong Kong Registry can automatically cancel the company after 2-3 years.
However, if the Hong Kong company is cancelled in this way, it will face a series of adverse consequences. For example, the company's board of directors left a bad record in the Hong Kong government and was blacklisted. In the future, the development of company directors in Hong Kong will be affected.
Therefore, if you want to cancel the Hong Kong company, you still have to go through normal procedures and take the initiative to go through relevant procedures.
I. Conditions for Cancellation of Hong Kong Companies
According to the regulations, if you want to cancel a Hong Kong company, the relevant conditions are as follows:
1. The directors and founding members of the company agree to cancel;
2. The company has never started business, or has stopped business for more than 3 months immediately before the application;
3. The company has no outstanding debts;
The company has been informed in writing by the Commissioner of Inland Revenue that it has no objection to the cancellation of registration.
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