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Corporate Service Advisory  | Company strike off - FAQs

1. What are the general conditions and requirements for a company to make an application for deregistration/strike-off ?

The company must meet the following conditions before making an application for deregistration/strike off.

  • All the members of the company agree to the deregistration.
  • The company has not commenced operation or business, or has not been in operation or carried on business during the 3 months immediately before the application.
  • The company has no outstanding liabilities.
  • The company is not a party to any legal proceedings.
  • The company has obtained a Notice to Authority/Company Registry.

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2. Do I need to file all outstanding Annual Returns before delivering the application for deregistration ?

Yes. A company is required to file Annual Returns and observe its obligations under the Companies Ordinance until it has been dissolved. Failure to do so will make the company liable to prosecution.

3. How can I restore a deregistered company?
An application for the restoration can be made to the Court of First Instance or Withdraw. One IBC® Group can help you do it!
4. What are the differences among terms deregistration, striking off and winding up ?

Winding up is the process of settling the accounts and liquidating the assets of a company for the purpose of making distribution of the net assets to members and dissolving the company.

Deregistration is A defunct solvent company, it is a relatively simple, inexpensive and quick procedure for dissolving defunct solvent companies.

As for striking off, the Registrar of Companies may strike the name of a company where the Registrar has reasonable cause to believe that the company is not in operation or carrying on business.The company shall be dissolved when its name is struck off the Companies Register. Striking off is a statutory power conferred on the Registrar, a company cannot apply for striking off.

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5. How long does it take to strike off a company?

Depending on the jurisdiction you are incorporated in and the status of your business, it normally it takes 1-2 months, but it may be 5 months for companies incorporated in Hong Kong, Singapore and the UK

Read more: Strike off company

6. Which document I will get after Strike-off/Dissolve company ?
Provided that your company is solvent properly, you can arrange for voluntary liquidation. It is a formal and complete way of winding-up your company. Upon completion, a Certificate of Dissolution will be issued by the Company Registry.
7. If a offshore (BVI, Seychelles, Belize…) Company was struck off the Register by the Registry of Corporate Affairs due to non-payment of its licence fee, then how long would it take for that company name to be released for re-use ?

A company that is struck-off the Register will be deemed to be dissolved seven years after strike-off. The company name may be reused at any time after the company is dissolved. If the name of the company has been reused in accordance with the Act, the company is restored to the Register with its company number name.

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