COMPANY STRIKE OFF
ACRA will strike a company off the register only if the company meets the following conditions:
- The company:
- has ceased operation
- is not and will not be involved in any court proceedings in or outside Singapore
- has no assets and liabilities*
- has no outstanding penalties or offers of composition due to ACRA and is not indebted to other government departments
- has no outstanding tax liabilities to the Inland Revenue Authority of Singapore (IRAS)
- 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 registered, kindly cancel it before the Company is submitted for strike off
Process of Striking-off a Company
The process of striking off a company in Singapore typically involves the following steps:
- Company directors’ resolution: The company’s directors must pass a resolution to strike off the company and approve the application for striking off.
- Clearance of outstanding obligations: The company must ensure that all outstanding obligations, such as tax filings, annual returns, and other statutory requirements, are fully complied with and settled.
- Closing of company’s bank account: The company’s bank account must be closed, and any remaining funds transferred to the shareholders or dealt with as per the directors’ resolution.
- Application for striking off: The company must submit an application for striking off to ACRA, which includes the completed Form C-S/ C, along with relevant documents, such as the company’s financial statements, tax clearance letter, and declaration of solvency.
- Notification to stakeholders: The company must inform its shareholders, creditors, and employees of the intention to strike off the company and provide them with an opportunity to object within 30 days.
- Approval and striking off: If ACRA approves the application, the company will be struck off from the Register of Companies, and the company will be dissolved. ACRA will issue a striking off notice in the Government Gazette, and the company’s status will be updated to “Struck off” on ACRA’s website.
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