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Applying for A Hong Kong Company Restoration
How Do You Restore a Business That Has Already Been Dissolved?
A company that has been dissolved can apply for their company to be restored via a Hong Kong company restoration application. In Hong Kong, a company can be dissolved in two ways. The first is by company deregistration and the second by striking off by the Hong Kong Registrar of Companies. These two dissolutions fall under the jurisdiction of the Hong Kong Companies Ordinance.
Restoration of a Deregistered Company
To restore a company dissolved by deregistration, you would need to apply for a Hong Kong company restoration with the Court of First Instance. The application is pursuant to the Companies Ordinance Section 756.
An applicant should seek professional advice before commencing with the application. The process may involve legal proceedings and may require a lawyer.
Restoration of a Strike-off Company
If your Hong Kong company has been dissolved by being struck off the Registrar, you can still apply for a Hong Kong company restoration. The application will be done by court order or administrative restoration.
An administrative restoration is a new procedure by the Registrar of Companies. This process will restore your company to the Companies Registrar.
Applications can be submitted via the Court of First Instance. This is pursuant to section 765. This calls under the new Companies Ordinance. It is advised that you seek professional help for the application procedure.
Conditions of the Hong Kong Company Restoration
To restore a formerly dissolved company, applications should be made by someone who was a director or member of the company before. Applications should be submitted within 20 years after the date the company was dissolved.
Applications won’t be approved unless the conditions below are met:
- Your company was operating when its name was struck off the Hong Kong Companies Registry
- If your company has immovable property in Hong Kong that is vested in the Government (bona vacantia).
- Applicant has successfully delivered the necessary documents to the Registrar.
- Applicant has reimbursed or paid any cost the Government incurred. The costs relate to any liabilities or expenses in dealing with the property during the dissolution period or in connection with the application proceedings.
The applicant must pay HK$2,700 as part of the administrative fees to restore the company. Cheques should be made payable to the “Companies Registry”.
Need Professional Advice? We’re Here to Help
At 3E Accounting, we’re the experts on all things related to company incorporation and more. We offer professional guidance and insightful expert advice to lead you in the best possible direction. Should you need advice regarding your company restoration, our team is happy to assist. Contact us today to find out what your next step should be.
