To lawfully and duly liquidate a company in China could be arduous and generally may take months to complete. Below are the general processes to liquidate a company in China:
- making decision on the dissolution and on the establishment of a Liquidation Committee and prepare an internal plan for liquidation;
- liquidating the assets;
- filing a pre-liquidation record with local company registry;
- making public announcement on the liquidation and informing the known creditors;
- filing a record with local agency of the Ministry of Commerce;
- terminating the employment contracts with employees, if any;
- tax clearance and deregistration;
- deregistration with the local company registry, i.e. the local State Administration for Market Regulation;
- deregistering with other departments;
- bank account closure;
- submitting and deregistering company stamps.