Strike Off Company

The Accounting and Corporate Regulatory of Singapore (ACRA) has adopted a systematic process of striking off or winding up a company. This guide will provide an overview of the process of company strike off including the criteria and steps involved in it.

The process of striking off a company in Singapore or getting it deregistered is managed by ACRA (Accounting and Corporate Regulatory Authority) Singapore. As per the Singapore Companies Act, ACRA has the authority to strike off a company from its register provided it meets the following criteria:

Criteria of ACRA to Strike off A Company

• If the company has ceased or discontinued its business operations.
• If the company has no unpaid mortgages or other charges in its books.
• If the company does not have any liabilities and assets.
• If the business house is not involved and will not involve in any court proceedings in or out of Singapore.
• If the business entity does not have any outstanding penalties with ACRA and no tax liabilities with IRAS (Inland Revenue Authority Singapore).
• If the company has obtained the no objection letters from each and every shareholder consenting to the company strike off.

Steps Involved in the Strike off Process

1. Firstly, the company must submit an application of strike off to ACRA.
2. ACRA will take about 7 days to process the application depending upon the case.
3. Once approved, ACRA will send a “Striking off notice” to the company’s registered address, its directors and IRAS.
4. A period of 1 month is given to companies after sending the “striking off notice”, in case anyone wants to lodge an objection.
5. After this period, ACRA will send a notification to the Government Gazette stating them to strike off the company after 3 months.
6. A final notification will be sent to the company after 4 months stating that the company has been struck off the register.

The process of striking off a company is tedious and complex and therefore it is ideal to take the help of a professional service provider. At Singapore Taxation, we take the responsibility of the legal requirements and other procedures that go into the company striking off. We ensure that your proposal of winding up of company operations is accomplished by us in a swift and simple way.

info@taxationservices.com.sg

+65-6536 0036