1. If you want to operate a business in Singapore, you need to register the business with ACRA. On the other hand, when the business subsequently is not doing well, not profitable or there are disputes among the shareholders, then you may consider to close the company. In Singapore, you need to apply to ACRA to strike off the name of the company from the ACRA register of companies.
2. The director, as the authorised officer of the company, is responsible to apply to ACRA to strike off the company. ACRA may approve the application if it has reasonable cause to believe that the company is not carrying on business and the company is able to satisfy the following criteria for striking off.
3. The criteria for striking off are as follows:
- The company has not commenced business since incorporation or has ceased trading.
- The company has no outstanding debts owed to IRAS, CPF Board and any other government agency.
- There are no outstanding charges in the charge register.
- The company is not involved in any legal proceedings (within or outside Singapore).
- The company is not subject to any ongoing or pending regulatory action or disciplinary proceeding.
- The company has no existing assets and liabilities as at the date of application and no contingent asset and liabilities that may arise in the future.
- All/majority of the director(s) agreed to submit the application for striking off to ACRA.
4. ACRA will review the striking off application. Once the application is approved, ACRA may send a striking off notice to the company’s registered office address and its officers – directors, company secretary and shareholders.
5. After 30 days from the approval of the striking off application, if there is no objection, ACRA will publish the name of the company in the Government Gazette. This is known as the First Gazette Notification.
6. After 60 days from the First Gazette Notification, if there is no objection, ACRA will publish the name of the company in the Government Gazette again and the name of the company will be struck off the register. The date that the company is struck off will be stated. This is known as the Final Gazette Notification. The entire process will take at least 4 months.
7. PL Biz Consulting Pte Ltd is an ACRA Registered Filing Agent and Registered Qualified Individual since 2016. Please come and talk to us if you need help to file your company’s striking off application to ACRA. We at PL Biz Consulting Pte Ltd can help you to file your company’s striking off application successfully.
