Deregistration vs Winding Up
Deregistration and winding up are two different ways a Hong Kong company can be brought to an end — one is a simple administrative route, the other a formal liquidation.
Deregistration is a quick, low-cost route available to a defunct private company (or company limited by guarantee) that is solvent, has ceased business, and obtains all members' agreement plus a Notice of No Objection from the Inland Revenue Department. Winding up is a more formal process — voluntary or by the court — in which a liquidator realises assets and pays creditors before the company is dissolved. A solvent, dormant company usually chooses deregistration; a company with unpaid debts or disputes typically goes through winding up.