Each country has its own legal procedure to formally close down a business. As a business owner, you may informally choose to halt all business activities and/or stop renewing your company annually. It is not a good way as your company does still exist, and you are still responsible for fulfilling your company statutory obligations and future liabilities. In addition, failing to comply with local regulation to maintain your company such as filing annual return, tax, accounting or auditing… would make you liable for potential government penalties and conviction.
Procedures and timeframes to legally dissolve a business differ from country to country, and need to be prepared properly before going through the process. Our company dissolution and restoration service can help you to deregister your business following a well-organized step-by-step guide, which can be executed easily, and complies with all local regulation. In case you want your business back, we can also support to reinstate your company.
Undertake business due diligence to make sure everything is in order and no obligations are pending before entering into application process for deregistration.
Prepare minutes of meeting of board of directors regarding company dissolution and necessary documents.
Apply for deregistration with the Company Registry and notify tax authority to acquire written consent to dissolution.
Follow up with the deregistration process and advise on subsequent steps on closing associated bank account.
| Services | Fee in USD |
|---|---|
| Company dissolution | |
| - In Hong Kong or Singapore | 1,500 |
| - In other jurisdictions | 1,300 |
| Company restoration | |
| - Within 6 months after company struck off | From 1,050 |
| - 6 months after company struck off | From 1,550 |
**Exclude government deregistration fee and penalties (if any).
We essentially require no documents from you if we are your registered company secretary. In case we are not your registered agent, a company transfer to us as well as following documents would be necessary:
Find your answer to company dissolution and restoration service with frequently asked questions:
Conditions for dissolving a company varies for each country, but you should ensure your company meets certain common requirements as follows:
The timeframe depends on each local regulation and complexity of your case. It would typically take from 2-6 months or longer.
Striking off is a statutory power of Company Registry to remove the name of a defunct company off the Companies Register. A company cannot apply for striking off.
Winding up is a part of a company dissolution. It involves liquidating and offsetting company’s assets to its liabilities for the purpose of disseminating remaining assets to its shareholders.
You can reinstate your deregistered company by applying for restoration by court order or by administrative restoration. You can also set up a whole new company with the same name or if no longer available, with a slightly different name.
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