Striking Off a Company
Closing a Company
You may wish to close the company for various reasons. There are two ways to close a company. One of the options available is to strike off the name of the company from the register. The other way is to wind up the company.
Criteria to strike off a company
A director may apply to ACRA to strike off the company's name from the ACRA's Register. ACRA may approve the application if there is reasonable cause to believe that the company is not carrying on business, and the company is able to satisfy the following criteria for striking off:
All/Majority of the director(s) authorise the applicant to submit the application for striking off on behalf of the company.
The company has not started to carry on business or begun operation since incorporation or has ceased to carry on business or operate. If it is for the second reason , business cessation date is required.
The company has no outstanding tax liabilities owing to the Inland Revenue Authority of Singapore (IRAS), no outstanding debts owed to Central Provident Fund (CPF) Board and is not indebted to any other Government Agency.
The company is not a part to any ongoing or pending legal proceedings (whether civil or criminal) before a court, whether in Singapore or elsewhere.
The company is not subject to any ongoing or pending regulatory action or disciplinary proceeding.
The company has no existing assets and liabilities as at the date of application or contingent asset and liabilities that may arise in the future.
There are no outstanding charges in the charge register.
If the company is GST registered and is no longer carrying on a business, it has to apply for cancellation of GST registration with IRAS.
Application to strike off a company
The company director, the company secretary or the registered filing agent can submit an application to strike off the company.
Review process for striking off
Once the application is approved, ACRA may send a striking off notice to the company’s registered office address, its officers (such as director, company secretary and shareholder) at their address.
After 30 days from the approval of the striking off application, if there is no objection, ACRA will publish the name of the company in the Government Gazette. This is known as the First Gazette Notification.
After 60 days from the First Gazette Notification, if there is no objection, ACRA will publish the name of the company in the Government Gazette again and the name of the company will be struck off the register. The date that the company is struck off will be stated. This is known as the Final Gazette Notification.
The entire process will take at least 4 months.
There is no filing fee for this transaction.
To find out more information on striking off a company, contact Bestar.