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HK company closure advice

Hello all

I have a HK company with no debt or assets, does this need to be closed through the correct channels or can I just let renewals lapse? Director is a nominee company.

Thanks in advance
It's important to note that without proper closure procedures, it may result in negative consequences. For example, the company may be subject to penalties and fines for not filing annual returns, taxes, and other legal requirements, and then it will be much more complicated to close it.
 
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Having had several companies in HK (and since wound them all down), I would recommend doing it properly. Yes, I know it's a complete ball-ache, but best to do it right.
It is always recommended to do things properly, in the end it's the choice you make depending on your personal risk appetite. We did it on advice of our HK auditor, and they know what they are doing. If you are not a Hong Kong resident there is little to nothing that can happen.
 

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