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:

  1. Company directors’ resolution: The company’s directors must pass a resolution to strike off the company and approve the application for striking off.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
It is important to note that the striking off process can take several months to complete, and the company must continue to fulfil its obligations during the process. It is advisable to seek professional advice and assistance from a qualified corporate services provider or legal professional to ensure compliance with all legal requirements and a smooth striking off process.

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NEED ASSISTANCE TO STRIKE-OFF A COMPANY?

LIKE TO HAVE YOUR FULL SET FINANCIAL STATEMENTS IN XBRL FORMAT (ACTIVE COMPANY)?

We can assist you with XBRL filing starting from as low as S$400. Preparation of financial highlights starts from S$200 only.

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