Guangzhou Company Deregistration
For company deregistration, a company must file an application with related government department. Owners should follow all the other steps to proper company dissolution.
Guangzhou Company Deregistration- When Will Company Deregistration Happen
According to China’s new company law, a company may have to be dissolved when one of the following conditions is met:
The business operation term as agreed in the company’s Articles of Association becomes expired or other condition for dissolution as agreed in the Articles of Association for dissolution occurs;
Resolution of dissolution is made by the meeting of shareholders;
The company is merged or separated and the company will not exist any more;
The business license is revoked by government, or the company is ordered to be closed or cancelled;
There is serious difficulty in company’s operation and management and the shareholder’s interest may suffer great loss if the company continues to operate. Shareholders who holding ten percent or above voting right may file to the court for dissolution if negotiation among shareholders fails.
Guangzhou Company Deregistration - Procedures of Company Deregistration
The whole procedure of company deregistration can be extremely complicated. For a corporation to be considered properly dissolved, the following steps are required:
Formal corporate action (liquidation procedure)
Filing with the appropriate government department
Statutory notice to creditors
Processing of all creditor claims
Sale and distribution of all remaining assets
Cancelation of invoice, business license, and other registered information
Note: Before we file the application for deregistration, you should close the corporate bank account and also make sure that there is no outstanding accounts receivable.
Guangzhou Company Deregistration - Time Cycle of Company Deregistration
Normally, an officially process of company deregistration in a whole will take around 6 months.
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