Restoration of a Hong Kong Company
The restoration of Hong Kong companies requires the payment of all outstanding license fees, penalties, and the government restoration fee.
Do you want to restore your company that has been struck off? Startupr can help you to restore your Hong Kong company. The restoration of Hong Kong companies requires the payment of all outstanding license fees, penalties, and the government restoration fee.
The company which is dissolved by striking off can be applied for the Restoration of Hong Kong Company by two methods, either by administrative restoration or by court order. Both methods work as per the circumstances surrounding dissolution.
Administrative Restoration of Hong Kong Company
Hong Kong has introduced the new Companies Ordinance, which states that a new procedure – “administrative restoration”. It is a simple way to restore the Hong Kong company did not follow the Ordinance and accumulate a certain amount of outstanding, which has been dissolved by the striking off under the order from the Registrar of Companies.
For this procedure, business owners will not need for recourse to the Court of First Instance as per the old Ordinance’s requirement. The companies which have been dissolved by way of deregistration or winding up couldn’t apply for administrative restoration.
The company which was dissolved by striking off should apply for administrative restoration within 20 years of the date of dissolution. The applicant can be a director, creditor or shareholder of the company. to apply for the restoration of Hong Kong company, you have to understand the following conditions.
- The company should be carrying business operations when it was struck off.
- The company should have all records up to date at the Companies Registry through the payment of all outstanding penalty fees, filing fees, and documentation.
- The companies who have any immovable property in Hong Kong which has been vested in the government as bona vacantia, the government has confirmed that it has no objection to the restoration.
As soon as the company applied for the administrative restoration procedure, and submit the relevant documents, it takes about 2 to 3 months to restore a dissolved company.
How can Startupr help you?
When the company has been struck off, neither the company nor any directors or shareholders may carry on any business or in any way deal with the assets or affairs of the company. In order to restore the company in good standing, a Company Secretary and a Registered Address must be needed. Here Startupr provides the registered address and company secretary services to you. For more information, contact us now!