Closing Small Business

Posted by Nellie (180 days ago)

Need advice on procedure to close a small business in HK. Had heard that it costs 1,000's so want to avoid this.

(I am based in Hong Kong)

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Posted by associates (180 days ago)

Have you set up an incorporated company or a sole proprietorship?....if the latter, it is not so complicated or costly: you should simple write (Notification) Inland Revenue Department to cancel the Business Registration Certificate and a separate notification should be made to the Inland Revue regarding Profits Tax indicating that no further tax return will be provide..also send a similar letter along with a nil Employers Return.

Weir & Associates
Solicitors & Notaries
16th Floor Tak Shing House
Theatre Lane
20 Des Voeux Road Central
Central
Hong Kong
Tel : 2526-1767
Fax : 2868-3568
email : weirlaw@hongkonglaw.com
www.HongKongLaw.com/weirlaw

(I am based in Hong Kong)

Posted by ppatio (180 days ago)

If you have a sole proprietorship, all you have to do is send a letter to the IRD.

If you have an incorporated company (a limited liability company) take the easy way out: dump your books 'in the harbour'. It's a local expression: simply dump the whole thing. Eventually the Business Registry - or whatever they are called- will delete your records. You are after all, not your company. The compnay is an independent legal entity.

(I am based in Hong Kong)