Company ongoing maintenance is crucial for running a business after the initial incorporation. It is statutorily required according to the Hong Kong Companies Ordinance, which involves a range of corporate arrangements and legal affairs.
To assist our local and overseas clients in this area, BRIDGES provides a complete blend of Company Maintenance Services on administration and corporate compliance, helping you handle these kinds of distressing but essential functions.
In Hong Kong, all limited companies are required to appoint a company secretary. If the company secretary is an individual, he or she should ordinarily reside in Hong Kong; if the company secretary is a corporate secretary, its registered office or place of business should be in Hong Kong. Now you can let BRIDGES handle all duties of a company secretary at competitive price.
Being appointed as Company Secretary for one anniversary year.
Preparation and filing of Annual Return with the Companies Registry.
Meet the local filing deadline of Annual Return to avoid penalties on late submission.
Maintain company statutory records.
Unlimited complimentary assistance in changing registered office address.
By subscribing our package, we will help your company report required corporate duties to the Companies Registry in accordance with the Hong Kong Companies Ordinance.
The Hong Kong Companies Ordinance requires all limited companies to prepare and submit its Annual Return within 42 days after the anniversary date of incorporation. The Companies Registry will not remind you on this important submission, however, as to be your company secretary, we will remind you to carry out such function on time on an annual basis.
Deregistration is a way to dissolve a limited company. If a company has no outstanding liabilities, and has never commenced business since incorporation or has ceased business over 3 months, it can apply for deregistration.
All members of the company agree to the deregistration.
The company has never commenced business or operation, or has ceased operation for over 3 months immediately before the application.
The company has no outstanding liabilities which include Profit Tax, Property Tax, Stamp Duty, Business Registration fee, fines and penalties in connection thereof and court fees.
It has obtained a written notice of no objections from the Commissioner of Inland Revenue. These include submission of returns which have been issued by the Inland Revenue Department, liability to notify the Commissioner of Inland Revenue in writing that the company is chargeable to tax for any year of assessment in which a return has not been received.
All Annual Returns are required to be filed until the company has been dissolved. Failure to do so will make the company liable to prosecution.
There are no unanswered enquiries from the Inland Revenue Department.
Around 6 - 9 months.
Winding-up by the Court
According to the Companies Ordinance, limited company can be ordered winding-up by the Court. The common reason for this type of winding-up is its inability to pay the debts.
If a company with a debt exceeding HK$5,000 fails to pay it or makes arrangement with creditors which is accepted by them within 3 weeks of receiving their written demand, then it is deemed unable to pay its debts.
There are two types of voluntary winding-up - members' voluntary winding-up and creditors' voluntary winding-up:
Members' voluntary winding-up: The company is winding-up by the members. The company should be able to pay-off its creditors when wound-up.
Creditors' voluntary winding-up: When directors of the company do not believe it will be able to pay-off its debt, the creditors can liquidate the company.
Around 1 year
BRIDGES simplifies our business life by solving our daily operation issues and giving us much more time.
In this video, we discuss what is required to manage and maintain a HK company, letting you know how much should you budget yearly.
BRIDGES provides one-stop services range from company setup to secretarial support for you to start your venture in HK.
You can set up your company in as fast as 2 days, with our all-round assistance and FREE consultation provided.
We have years of experience in helping our start-up business clients handle accountancy and taxation.
Our referred Certified Public Accountant (CPA) will support in preparing your statutory audited financial statements.
Please visit our premier sites to see how they can cater your needs.