“Deregistration” is the most convenient way to close your business, the whole process takes 6-9 months.  
The company must be a solvent private company incorporated under the Companies Ordinance and meet the following requirements:-

All the members of the company agree to the deregistration;

The company has never commenced business or operation, or has ceased to carry on business or ceased operation for more than 3 months immediately before the application;
The company has no outstanding liabilities;
The company is not a party to any legal proceedings;
The company’s assets do not consist of any immovable property situate in Hong Kong; and
 If the company is a holding company, none of its subsidiary’s assets consist of any immovable property situate in Hong Kong.

Company intends to go for deregistration shall dispose of all the properties and close the corporate bank accounts. Upon dissolution of the Company by deregistration, all the properties (including credit balances in the Company’s bank account) will be vested in the Government as ownerless property.