China Company Deregistration
Company may be deregistered when shareholders decide to terminate the company, due to difficult business operation or financial crisis which cannot be dissolved.
In China, the procedure for company deregistration is rather complicated, particularly in face of mainland customs and tax departments.
Uws China taxation Group is familiar with every sector of company deregistration, so we can assist enterprise in completing the procedure of deregistration successfully and free client from worry of disturbance in the rear, by virtue of our experience of processing company deregistration in various industries.
Main Procedures of Company Deregistration Include:
- Engagement of certified public accountant to audit company’s accounts
- Establishment of liquidating group
- Issuance of notice and announcement of application for creditors’ rights by liquidating group
- Tax clearance
- Recognition by relevant governmental departments
- Distribution of properties
Sequence of Distribution of Properties:
- Payment of liquidating costs
- Payment of employees’ wages, social insurance cost
- Full payment of tax
- Liquidation of debt
- Distribution to shareholders
After completing liquidation of company, the liquidating group needs to prepare liquidation report which, after confirmation by meeting of shareholders or China Court, will be declared with administration for industry and commerce and administration of taxation, in application for deregistration.