Malaysia Hotline: +603- 2141 8908
There
are two paths to winding up a company in Hong Kong – voluntary winding up or
compulsory winding up.
Voluntary winding up
Voluntary
winding up of a Hong Kong company can be initiated either by members
(shareholders) or creditors.
The
voluntary winding up of a company begins by a special resolution being passed
for the company to be voluntarily wound up and publishing this information in
the Gazette within 14 days. The winding up is said to begin on the date on
which the resolution is passed.
Members’
Voluntary Winding Up
A
members voluntary winding up of a company can be carried out if the directors
believe that the company will be able to pay its debts, in full, within 12
months after the commencement of the winding up.
Creditors’
Voluntary Winding Up
If
the company cannot make a Declaration of Solvency, a creditors’ voluntary
winding up will have to be executed. Soon after the meeting at which the
resolution for a voluntary winding up is made, a creditors’ meeting should be
convened.
Compulsory Winding Up
The
most common circumstances under which a Hong Kong Court can order a compulsory
winding up of a company in Hong Kong are:
-
The company is unable to pay a debt of HKD 10,000 or above
-
The court is of the opinion that it is just and equitable that the company
should be wound up
-
The company has by special resolution resolved that the company be wound up by
the court
Contact us
If you have further queries, please contact Tannet
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
24 hours Hong Kong hotline：86-755- 36990589;
Email: mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my