How to Strike Off a Company in Singapore: A Complete Guide

What is Striking Off?

Striking off is the process of removing a company from the ACRA register, effectively dissolving it. This is typically used when a company has ceased operations, has no outstanding liabilities, and the shareholders wish to close it down in an orderly manner. It is a simpler and less costly alternative to formal liquidation or winding up.

Eligibility Criteria

To apply for striking off, a company must meet several conditions. It must have ceased trading or has not commenced business since incorporation. It must have no outstanding debts or liabilities (including tax liabilities to IRAS). All statutory filings with ACRA must be up to date, and there must be no pending legal proceedings against the company.

The company must also not have any assets and liabilities. If the company has assets, these must be properly distributed to shareholders before the striking off application can be submitted.

The Striking Off Process

The application to strike off is filed with ACRA by the company's directors. Once submitted, ACRA publishes a notice in the Government Gazette, giving any interested parties an opportunity to object. If no objections are received within the prescribed period (typically three months), ACRA proceeds to strike the company off the register.

The total process typically takes four to six months from the date of application to final striking off.

Tax Clearance

Before applying to strike off, the company should obtain tax clearance from the Inland Revenue Authority of Singapore (IRAS). This involves filing all outstanding tax returns and settling any tax liabilities. IRAS will issue a letter of no objection once all tax matters are resolved.

Let Us Handle the Process

CorpXervices assists companies through the entire striking off process, from assessing eligibility and obtaining tax clearance to preparing the application and liaising with ACRA. Contact us to discuss the most appropriate closure option for your company.