Unregister for Deregistration
It refers to the cancellation of the company’s registration from the business registration agency by voluntary or legal procedures. This usually happens when the company is no longer in business, or if the company actively chooses to end its legal entity status. Cancellation of registration may be subject to specific legal procedures and requirements, such as filing an application for dissolution, completing all outstanding financial matters, paying all outstanding amounts, and filing the necessary documents with the relevant authorities.
Striking Off
It is when the business registration authority removes a company from its register so that it is no longer considered a legal entity. This is usually due to a company being considered for failing to comply with legal requirements, failing to meet reporting obligations, or failing to conduct business activities for a long time. The delisting process is usually initiated by the business registration authority and a notice is given to the owner or administrator of the company. If the company is struck off, it will lose its legal entity status and the assets may be considered unclaimed property.
Winding Up
Refers to the procedure of formal termination and dissolution of a company. Winding-up can be voluntary, i.e. the owners or shareholders of the company choose to wind up the company’s activities, or it can be mandatory, such as when the company is unable to pay its debts or is in bankruptcy. Winding-up proceedings are usually supervised by a court or specialized agency to ensure a lawful and fair process. During winding-up, the company’s assets will be sold or liquidated to pay debts and settle the company’s financial affairs.
Companies Registry Deregistration, Striking Off and Winding Up https://www.cr.gov.hk/en/faq/local-company/dereg-striking-off-winding-up.htm
