Strike Off Company in Singapore
Striking-Off a Company (From S$600)
Requirements for Striking-Off a Company
We provide professional services in the closing (or strike off) of local companies, working with the Accounting and Corporate Regulatory Authority (ACRA) and other relevant government agencies.
ACRA will striking off a company off the register only if the company meets the following conditions:
- The company has ceased operation
- The company has no bank account or the bank account is closed
- The company is not and will not be involved in any court proceedings in or outside Singapore
- The company has no assets and liabilities*
- The company has no outstanding penalties or offers of composition due to the ACRA and is not indebted to other government departments
- The company has no outstanding tax liabilities to / tax refund from the Inland Revenue Authority of Singapore (IRAS) **
- The company has no outstanding charges in its charge register (e.g. no mortgages, etc.)
- None of the officers of the company have outstanding ACRA summonses
- If the Company is GST registration, kindly cancel it before the Company is submitting for striking off
* If the Company has liability which is trade in nature and be waived off, it is subject to Company income tax.
Process of Striking-Off a Company
Upon approval of a strike off, a Striking Off Notice will be sent to the company at its registered office address, to its directors at their residential addresses and to the IRAS, within 14 days of the receipt of the strike off application.
A period of one month is given in the Striking Off Notice to anyone that may wish to raise any objection to the application.
After the one month period has expired, a notification of the intention to strike off this company off the register in 60 days’ time will be made in the Government Gazette. Any interested person can still raise an objection to the application during this 60 days period.
After the 60 days have expired, a final notification will be made stating that the company has been struck-off the register. The date that the company is struck-off will also be stated in the final notification.
The entire Company striking off process therefore takes about four months.
Aggrieved persons can appeal to the Court for restoration of the company within 6 years (formerly is 15 years).
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RELATED QUICK FACTS
Financial Statement Preparation:
Directors are required to present accounts that comply with the Accounting Standards and which give a true and fair view of the state of affairs of the company to its shareholders. Our accountants would ensure that your Financial Statement is prepared according to the required Accounting Standards for filing to ACRA (Accounting and Corporate Regulatory Authority). We can also assist you with preparation of AUDITED financial accounts, if required. Check out our Financial Statement Preparation Service.
GST Computation & Submission:
If you are a GST-registered trader, you would need to submit quarterly GST returns to IRAS (Inland Revenue Authority of Singapore). If you need assistance with computations and to avoid missing filing deadlines, check out our GST Computation & Submission Service.