I'm looking for some advice. Two years ago I set up a company hoping to do business but I never ended up getting around to it and have now abandoned the idea, at least for the foreseeable future as it seems too difficult to be profitable at the moment.
The only costs to the business since incorporation have been the business registration fees and company secretarial / registered address costs.
I did not even open a corporate bank account as I had not yet started business and after reading how hard it was, thought I should at least have a good business plan to present to a bank. I have been paying for the company secretarial services / registered address service from my personal bank account.
I ended up just not doing anything with the business, and I did not file for dormancy as I didn't even know about it. I believe my company secretary filed NIL on returns.
I am the sole shareholder.
I've been reading that for de-registration, there will need to be an audit. How can I prepare an audit if I have not opened a company bank account?
I do not believe I even claimed the business registration fee as an expense in the last return.
Truthfully, I have a hope that I can start this business one day (I was hoping to start publishing English-language graphic novels) but that seems out of reach for now as I overestimated how hard it would be to be profitable.
Would the correct course be for de-registration, and if so, how would the audit happen without a bank account?
As another question, would it just be better to file the company as dormant? How long can a company remain dormant?
I will be living HK for the foreseeable future (permanent resident) but I don't know if I'd ever be able to start the business proper. I would like to keep the same company name if I ever did start, but I don't anticipate it being taken up by someone else anyway since it's just my surname which isn't common.