Restoration of a company to the register in Hong Kong refers to those cases where a company has been struck off or dissolved, and a due process is required for the administrative or court approach, whichever applies, that would enable such an organization to revive its legal existence and continue its normal running. The steps will depend on why it was removed and if the process is administrative or through the courts. Here is a detailed guide on how to restore a company to the register in Hong Kong:
- Reason for strike-off: In restoring a company to the register in Hong Kong, the first thing needed is to find out the reason why such a company was struck off. Companies may be struck off for non-compliance reasons when they fail to file annual returns or have been voluntarily wound up. It will determine whether this can be done through an administrative process of restoration or by way of a court application.
- Administrative Restoration: You can apply to the Hong Kong Companies Registry for administrative restoration in case your company was struck off due to non-compliance. This normally involves making a restoration application with the requisite forms and fees. In addition, all outstanding filings and any penalties have to be dealt with before such an application is approved.
- Restoration by the Court: This is applied in cases where companies have been voluntarily dissolved, or in cases where this is no administrative route for restoration available. In such a case, a court order will be needed to bring the company back on the register. A petition is filed in court, and the hearing of a court is set up. It is then left to the discretion of the court whether such restoration is in the interest of shareholders or creditors or any other stakeholder.
- Meeting statutory obligations: Whatever the restoration method, all of the statutory obligations in respect of filing overdue returns and the payment of all outstanding fees must have been achieved in order to restore a company to the register. Hence, a company could not be permitted to operate prior to this before it is fully compliant.
- Restoration and Approval: Upon the completion of all procedures to the satisfaction of either the Companies Registry or the court, the company will be restored to the register. In this case, now, the company has full legal standing to continue business as if it had never been dissolved.
This, therefore, will be a clear route for the restoration of a company to the register in Hong Kong and subsequent continuation of business.