Avoiding audit costs for a dormant Hong Kong company – use our free downloadable form.
Annual Audit is a must for a Hong Kong company, even if you have had no transactions. That’s an annoying cost (and time hassle!) when your Company isn’t doing anything ie is dormant. It’s best practice to make your Company dormant and then you can avoid the audit requirement. This is a simple process and we are always surprised that more people don’t take advantage of it.
It’s not just the Audit requirement you can remove. Whilst you need to submit the annual return for the year in which the Company becomes dormant, you don’t for future years. You will need to keep paying the annual business registration fee, so don’t forget to do that.
You need to make sure you can say “no” to the below:
- Have you any accounting transactions? An accounting transaction is anything but a payment the company is required to make under the Ordinance.
You should ask your Company Secretary to prepare this and have all shareholders sign it. They will then file it for you with the registry. Alternatively if you’d like to do this yourself then please drop your email in the box below and we will email you a template for you to fill in and do yourself if you want.
As always if you need help then please contact us and we can be your Company Secretary and do it for you; as part of the annual retainer fee with no extra charges. We will do everything for you in one package, changes of director, addresses etc etc. Our fixed fees make sure you don’t get surprises.