ProSec assists Singapore companies with strike off readiness checks, outstanding compliance review and practical guidance before closing a company.
Close an inactive Singapore company with practical guidance on readiness, documents, ACRA process and outstanding compliance matters.
A company strike off is usually suitable only where the company is no longer carrying on business, has no unresolved liabilities and can satisfy the relevant conditions. Before applying, directors should review accounting records, tax position, bank accounts, contracts, creditors, shareholders and filing history.
A company should not apply for strike off while it still has unresolved debts, bank balances, unpaid suppliers, shareholder loans, staff obligations or pending claims. These should be settled or properly assessed before closure.
Outstanding annual returns, tax filings, GST matters or correspondence should be reviewed before the application. ACRA closure and IRAS tax matters are connected in practice, even though they are different processes.
Directors should retain accounting records, tax documents, resolutions, bank statements and strike-off correspondence. Old records may be needed later for tax, bank, shareholder or audit questions.
Where the company has disputes, complex debts, litigation, insolvent position or unresolved claims, a simple strike-off route may not be suitable. Professional advice may be needed before deciding the closure path.
Many SMEs and foreign founders decide to close a Singapore company when a project ends, the company remains dormant, costs exceed benefit or the intended bank account or business activity did not proceed. The closure should still be documented carefully. Directors should confirm that the company has stopped business, settled commercial matters and dealt with required filings.
A clean strike-off preparation usually includes checking the company’s latest business profile, bank account status, accounting records, tax filing history, GST status, liabilities, assets and shareholder position. If the company has never traded, the process may be simpler, but directors should still keep evidence supporting the dormant or inactive position.
ProSec’s role is to help directors understand whether strike off appears suitable, what documents should be prepared, and what cleanup may be required before application. Where the company has complicated debts, disputes or insolvency concerns, the matter may need a different route and professional advice before proceeding.
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Strike off is a process where ACRA removes a company from the register if it is no longer carrying on business and meets the relevant criteria. It is usually suitable for inactive companies without outstanding liabilities or unresolved matters.
Strike off may be suitable if the company has ceased business, has no assets or liabilities, no ongoing disputes, no outstanding tax or filing issues and the directors/shareholders are ready to close the company properly.
Generally, strike off is not suitable if the company still has debts or unresolved obligations. If there are debts to settle, a winding up process may need to be considered instead.
Outstanding tax filings or IRAS matters should usually be addressed before applying. A company should check corporate tax, GST and any other tax position before proceeding.
The company should have enough accounting records to support its position, confirm whether there are assets or liabilities, and address any tax filing requirements. Whether full final accounts are needed depends on the company’s facts.
Strike off is not immediate. After application, there may be notices and an objection period. The overall process can take several months, depending on whether objections or outstanding matters arise.
Yes. We can first review the company’s filing status and advise whether overdue annual returns, accounting records or tax filings should be handled before strike off.
Useful information includes the latest ACRA profile, financial year end, business activity status, bank balance, assets and liabilities, tax filing status, GST status and confirmation from directors/shareholders.
Restoration may be possible in certain circumstances, but it is a separate process and should not be relied on as a normal business plan. Directors should check carefully before applying for strike off.
No. Strike off is generally for inactive and debt-free companies. Winding up is a formal process for companies with assets, liabilities or debts to settle.
Send your UEN and latest filing status. We will advise whether strike off or dormant maintenance is more suitable.
