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  • 1 Post By HK_Katherine

Urgent! Transferring Companies and debt

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  1. #1

    Urgent! Transferring Companies and debt

    Hi, I have a friend who is leaving HK, and he said he has opened a company that he hasn't used, and he could transfer the company to my name.

    It is a Limited Company

    However to be sure, can anyone confirm when a company is transferred to someone else what happens to the debt? (Assuming if there are debts)

    Anything else I should beware of, or potential traps and pitfalls?

    Thanks


  2. #2

    Join Date
    Apr 2009
    Location
    Hong Kong
    Posts
    6,076

    Why would you do such a thing? Just open a new company if you want to have one. Then you won't need to worry about someone else's possible debts.


  3. #3

    Join Date
    Dec 2013
    Location
    Hong Kong
    Posts
    12,323

    Debts follow the company. Unless there is a really good reason never buy "used" companies

    Fiona in HKG likes this.

  4. #4

    Join Date
    Sep 2007
    Location
    Yuen Long
    Posts
    1,563

    Also, if you need a company does it have to be a Limited Company with the associated auditing costs...