If your Hong Kong company does not operate, it is necessary to handle the cancellation procedure in time. The cancellation time of Hong Kong company is generally9-12(Due to the epidemic, the company's cancellation time may be extended). Then let's share the relevant matters that need to be paid attention to in the cancellation process of Hong Kong companies.

In the process of cancellation, a Hong Kong company needs to pay attention to whether the company is in arrears to the government or unfinished matters, such as (annual report, business registration certificate fees, taxes, government fines, etc.), and whether it owes foreign debt, etc.

If your Hong Kong company has a bank account and is an active Hong Kong company, you also need to submit [financial statements with the latest three months] and [Auditor's report of the latest year] to the Inland Revenue Department. If your company has no bank account and is an inactive company, Financial statements and auditors' reports are not required.

After your Hong Kong company has received the Notice of No Objection to Cancellation issued by the Inland Revenue Department, you can submit the Application for Company Cancellation to the Companies Registry, and after notice in the Gazette (for a period of time3~5). If there is any objection during the period of publication, the company will not be able to withdraw. Otherwise, after the publication is completed, the Government will issue an official letter formally notifying the Government that the withdrawal procedure has been completed. After receiving the revocation receipt, it is officially cancelled on behalf of the Hong Kong company.

Therefore, the non-operation of the Hong Kong company needs to be timely cancelled, so as to avoid the delay of annual inspection or audit will bring other costs to the company, which increases the cost intangibly.

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