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(1)
Corporation may carry out deregistration according to Companies ordinance,
but have to fulfill the following conditions：
- The Company had never commenced business OR
- The Company already cease business for 3 months before applying
deregistration AND
- The Company has no unpaid debts；
- In case there are debts, deregistration is still allowed if：
the debt is waived by creditors / directors / subscribers.
(2)
Before Company carry out deregistration, one must obtain a notice-for-no-objection
for deregistrations from Commissioner of Inland Revenue Department
For obtaining this notice, the Company has to pay all the unpaid
tax or business registration fee. As such, IRD may request the Company
to hand in necessary tax returns, audit reports in order to make
an assessment. On the other hand, when deregistration is in progress,
annual return still have to be filed with Companies Registry unless
the deregistration is successfully completed.
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