In order to deregister a private limited company in Hong Kong, it must fulfill the following conditions:

• The company has never conducted any business, or ceased operation or has ceased to carry on business for at least three months, at the time when the application for deregistration.
• The company has no outstanding debt.

If the company has outstanding debts, it can apply for deregistration unless it’s corporate debt:

• undertaken by its parent or affiliated companies, or the company’s founding member, director or shareholder who make commitment and settled ; or
• its creditors are willing to give up or waive the company’s debt and the implementation of the waiver of debt covenants.