Strike Off Company Singapore
A company may apply to the Accounting and Corporate Regulatory Authority (ACRA) to strike its name offÂ the Register pursuant to Section 344 of the Companies Act.
ACRA may approve the application if it has reasonable cause to believe that the company is not continuing its business and the company is able to satisfy the criteria for striking off.
To Strike Off, you need to comply with these requirements:
The records of the company in Accounting & Corporate Regulatory Authority (ACRA) are accurate and up to date.
- The company has no outstanding penalties or offers of composition fine owing to ACRA.
- The company has no outstanding tax liabilities owing to the Inland Revenue Authority of Singapore (IRAS) and is not indebted to any other government department.
- The company has no outstanding charges in the Register of Charges.
- The company is not involved or threatened with legal proceedings within or outside Singapore.
- The director(s) have obtained the written consent of the majority of shareholders to strike the name of the company of the register.
- The company has no contingent assets and liabilities (i.e. assets/liabilities that may arise in the future).
- In the last annual return filed, the auditor has certified that the company has assets and liabilities but to date ALL the assets and liabilities has been cleared, OR the auditor has certified that the company has no assets and liabilities or in respect of a company that has not commenced business since incorporation, to date it has no assets and liabilities. OR The directors/company secretary has certified that the company has assets and liabilities but to date ALL the assets liabilities has been cleared. OR The directors/company secretary has certified that the company has no assets and liabilities, or in respect of a company that has not commenced business since incorporation, has no assets and liabilities to date.
Processing Time: The Strike Off may be completed within 5-7 months from the approval of ACRA and IRAS.
What happens if a Strike Off is approved?
A “striking-off notice” will be sent to the company at its registered office address, its directors at their residential addresses and the IRAS, within 14 days of the receipt of the application.
A period of 1 month is given in the “striking-off notice” to anyone who may wish to raise any objection to application.
After the 1-month period has expired, a notification of the intention to strike the company off the Register 3 months later will be made in the Government Gazette. Any interested person can still raise an objection to the application during these 3 months.
After the 3-month period, 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 striking off process will take about 5 months at the least if no objection or complication arises in the interim.
If you are ready and have decided to strike off a company in Singapore, please provide the following information for our assessment:
- Please confirm that your company has met the requirements listed above.
- Please provide the last set of accounts tabled at last Annual General Meeting (AGM) and (if applicable) relevant documentary evidence on the disposal of assets and/or liabilities.
- When did the company become dormant (no activity/transaction at all)?
Fees from $800 depending on the complexity.