How to deregister your Chinese Subsidiary?
When a Foreign Invested Enterprise decides to discontinue its operations in China, the company must complete an essential, yet time-consuming deregistration process. Due to, among others, strict annual compliance regulations and the implementation of the Corporate Social Credit System, it is essential to follow the proper procedures to liquidate a Chinese company. Failure to properly deregister your Chinese operations can result in serious negative consequences for the company’s registered personnel and the future ability of the company to do business with China.
Depending on the size of your Chinese operations and the time the company operated in the Chinese market, the process to liquidate your Chinese subsidiary can be complicated and lengthy. Due to the amount of authorities with which the company has to deregister and a generally non-cooperative position of the tax authorities to avoid the loss of tax revenue, the full liquidation process can easily take at least 1 year.
To provide further insights into the procedures to liquidate a company in China, we have prepared an extensive white paper which among others discusses:
Reasons to liquidate a company in China;
Important considerations before liquidating a Chinese company;
A step-by-step process overview of a company liquidation;
Main differences between company liquidation and bankruptcy.
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