Closing & Striking Off

Common questions about closing & striking off in Singapore, answered by the team at E&H Corporate Services.

How do I close or deregister a Singapore company?A dormant company with no assets or liabilities can apply to ACRA to be struck off; a company with assets and liabilities must go through winding up. There are two main routes to close a Singapore company. Strike off: suitable for a company that has ceased business, has no assets or liabilities, no pending legal proceedings and has settled its taxes; the directors apply to ACRA to deregister, and after ACRA reviews and gazettes the application, if there is no objection the company is struck off within a few months — the cheapest and most common route. Winding up (liquidation): suitable for a company with assets and liabilities to be dealt with or a more complex situation; it can be a members' voluntary, creditors' voluntary or court winding up, requiring a liquidator to realise assets, settle debts and distribute the surplus — a longer, costlier process. Either way, before closing, complete all outstanding ACRA/IRAS filings, settle taxes and close bank accounts. The corporate secretary can help prepare the resolutions and filing documents.Who in the company may apply to strike it off?The directors of the company and the company secretary can apply. You may appoint us as your agent to submit an online application to strike off your company. Book an online application with us, and we’ll happily advise you on the necessary requirement and information required to strike off your company.How can the company apply to strike off?The application can be filed online through the ACRA BizFile website.What is the process for striking off a company?Striking off involves submitting an application to ACRA, settling all outstanding fees and taxes, and obtaining clearance from IRAS. The process typically takes 3–6 months.How long does striking off take?3–6 months. The timeline depends on how quickly you settle all outstanding obligations and obtain clearance from IRAS.What are the costs of striking off?ACRA fees apply for striking off. Additional costs may include final tax filings, audit fees, and outstanding penalties.What is the difference between striking off and winding up?Striking off is for solvent companies that have ceased operations. Winding up (liquidation) is for companies with outstanding debts or disputes.Can a struck-off company be restored?Yes, within 6 years. Restoration requires a court order or ACRA application and settling all outstanding fees and penalties.What happens to the assets of a struck-off company?Assets vest in the Official Receiver as bona vacantia. They can be reclaimed by the company if it is restored.What are the director liabilities after striking off?Directors remain personally liable for any offences committed before striking off. This includes tax offences, fraud, and director duties.Can I strike off a company with outstanding taxes?No. IRAS clearance is required before striking off. All outstanding tax filings and payments must be settled.What is a private voluntary liquidation?Private voluntary liquidation is a formal winding-up process for companies that are unable to pay debts. It requires a liquidator to be appointed.What happens if the striking-off application is NOT approved?If the application is not approved, most likely it was because some requirements are not complied with. ACRA will return the application for you to make any necessary changes. Upon ensuring all requirements have been complied with, you may resubmit the application.What does it mean when a company is in liquidation?Liquidation (or winding up) is the formal process of closing a company — a liquidator is appointed to sell assets, settle debts, and distribute any surplus to shareholders before the company is dissolved. It can be voluntary (members' or creditors') or court-ordered.

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