Need Help to Strike Off Your Company in Singapore?
Closing a Singapore company can be intricate and time-consuming.
Given
the legal and statutory complexities associated with the company's
strike-off, it is strongly advised to enlist professional services for
assistance.
Company Strike Off
For Company that has ceased doing business, and intend to close down immediately.
$488
Before you can strike-off the company,
- All company assets have been disposed or sold off
- No outstanding payables to any creditors or Government Authorities
- No outstanding Annual Return Filing with ACRA
- No outstanding Tax Filing with IRAS
- You have finalised and “zero-rised” your Management Accounts for strike off purposes
FAQ
All Singapore companies applying to strike its name off the
register must gain approval from the ACRA. For an approval, a
list of criteria must be met.
These conditions include:
The company has ceased business operations.
The company has
closed all its bank account(s).
The company is not
currently (or will be) involved in any form of court proceedings
in or out of Singapore.
The company has no assets and
liabilities.
The company is not indebted (i.e. outstanding
penalties or offers of compositions) to the ACRA or other
government agencies.
The company has no outstanding tax
liabilities due to (or tax refund from) the Inland Revenue
Authority of Singapore (IRAS).
The company has no
outstanding fix (or floating) charge in the Register of Charges
(e.g. mortgages etc.).
All company’s officers have no
outstanding ACRA summonses.
The company has cancelled its
GST status with IRAS (if it is GST registered).
The company
has consent in writing to the striking off from all directors
and shareholders.
Other work the company should perform
before strike-off:
Up-to-date bookkeeping to the date of cessation, including
disposal of assets and liabilities.
Up-to-date tax filing
and payment to IRAS for all relevant years of
assessment.
Company resolutions and/or documentation to
validate its strike-off application.
ProSec can assist you
fully, should you require assistance on any of the requirements
listed above.
All strike-off applications must be submitted to the ACRA. The entire process will take at least 4 months.
Upon approval from the ACRA:
- All relevant persons and body will be informed. A Striking Off Notice will be sent within 14 days of the receipt of application to the company’s registered office address, its directors at their residential addresses and the IRAS.
- There will be a one month period (as stated in the notice) for anyone to raise objections to the application.
- Upon expiry of the one month period, a notification of the strike-off intention will be made in the Government Gazette. For 60 days, any interested person can raise an objection to the application.
- After 60 days from the first Government Gazette notification, if there is no objection, ACRA will strike the company’s name off the register and publish a notification in the Gazette stating the struck-off (also known as the Final Gazette Notification).
If any objections were submitted during the application period, the company will be informed through ACRA.
The application will be withheld and the company will be given 2 months to resolve the matter:
- If the matter is resolved, the objector must lodge a “Clearance of an Objection to Striking Off” and the process will continue.
- If the company is unable to resolve the matter, the application will lapse. A new application can only be submitted after the objection has been cleared.