The Accounting and Corporate Regulatory Authority (ACRA) can strike off a company in Singapore if there is a reasonable cause to believe that the business is not in operation. One valid reason is when a company fails to submit annual returns (ARs) for consecutive years. According to Section 197b of [...]
Striking off a company simply means having it removed from the Singapore Register of Companies. Applying for a company strike off is a cost-effective way to close down a company, but what if it was done without the consent of all the company’s directors? In situations when a Singapore company [...]
When you strike off a company, it simply means that you are removing it from the Register of Companies. Striking off is a cost-effective approach to closing down a business. It has, however, some requirements that need to be met. For more information, see our striking off services. Aside from [...]
In compliance with Singapore policies, business entities must appoint a corporate secretary to fulfil various corporate responsibilities such as coordinating meetings for the company’s directors and shareholders and preparing the minutes of company board meetings. Minutes of Company Meetings Part of the key responsibilities of a company secretary is to [...]
Entrepreneurs who want to close their business in Singapore can either apply to strike off their company through the Accounting and Corporate Regulatory Authority (ACRA) or wind up with the help of a professional liquidator. The business should have a reasonable cause and must be able to satisfy the set [...]
In accounting, the meaning of liquidation is the process of selling off all the company’s assets to generate cash. These funds will be used for paying creditors and other debts. Liquidation is often a possible outcome of bankruptcy, but there are other situations as well. Sometimes, a business can liquidate [...]
In Singapore, all companies registered with the Accounting and Corporate Regulatory Authority (ACRA) are mandated to appoint a corporate secretary within six months from the date of incorporation. The corporate secretary ensures that the company complies with the established legislation and regulations. Additionally, it is the secretary’s responsibility to keep [...]
When starting your business, one of the most crucial decisions to make is selecting a suitable individual as your company secretary in Singapore. There are two ways to go through this process: hiring in-house and outsourcing. The appointment of a company secretary, whether you choose to outsource or hire someone [...]
Foreign entrepreneurs and business owners who do not have connections with any Singaporean, permanent resident, or Entrepass holder typically use a nominee director service provided by firms such as CorpXervices. Using such service is imposed under the Companies Act, Section IXA. The appointment of a nominee director in Singapore goes [...]
In Singapore, a company can either be closed by Court Order or by the decision of its owners. The former may result from a creditor filing a petition for winding up. In this article, we discuss the key details about the liquidation of a Singapore company. Once a company becomes [...]
