Striking off a local company

If you wish to close a company, an application is required to be submitted to ACRA to strike off its name from the Company Register. Before ACRA can approve the application for striking off, the company must satisfy the following criteria:

• It has not commenced business since incorporation or has ceased trading
• It has no assets and liabilities (current/future)
• Its directors have obtained the written consent or approval of the majority of the shareholders
• It has submitted the last set of audited accounts or the latest unaudited balance sheet
• It has no outstanding tax liabilities with IRAS
• It has no outstanding employers’ CPF contributions
• It has no outstanding debts owed to any party
• It has no outstanding charges in the charge register
• It is not involved in any court proceedings within or outside Singapore

Sometimes, we do encounter some business owners who wish to close a company but somehow do not meet one or more of the above-mentioned criteria. Therefore, it is important for you to seek professional advice to assist you with the strike off application.

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