Strike Off / Closing of Company

STRIKE OFF/ CLOSING COMPANY SINGAPORE
Why Strike Off ?
 
The easier way and cost effective way to close down a company is by way of Strike Off but you MUST meet the requirements below.
 
What are the Requirements ?
 
To Strike Off, you need to comply with these requirements:
 
  • The records of the company in Accounting & Corporate Regulatory Authority (ACRA) are accurate and up to date.
  • The company has no outstanding penalties or offers of composition fine owing to ACRA.
  • The company has no outstanding tax liabilities owing to Inland Revenue Authority of Singapore (IRAS) and is not indebted to any other government department.
  • The company has no outstanding charges in the Register of Charges.
  • The company is not involved or threatened with legal proceedings within or outside Singapore.
  • The director(s) have obtained the written consent of the majority of shareholders to strike the name of the company of the register.
  • The company has no contingent assets and liabilities (i.e. assets/liabilities that may arise in the future).
  • In the last annual return filed,
 
  • The auditor has certified that the company has assets and liabilities but to date ALL the assets and liabilities has been cleared. OR
  • The auditor has certified that the company has no assets and liabilities or in respect of a company that has not commenced business since incorporation, to date it has no assets and liabilities. OR
  • The directors/company secretary has certified that the company has assets and liabilities but to date ALL the assets liabilities has been cleared. OR
  • The directors/company secretary has certified that the company has no assets and liabilities or in respect of a company that has not commenced business since incorporation, to date it has no assets and liabilities.
 
What is the Processing Time ?
 
The Strike Off may be completed within 5-7 months from the approval of ACRA and IRAS.
 
ARE YOU READY to strike off company in Singapore ?
 
Please provide the following information for our assessment:
 
  • Please confirm that your company met the requirements as listed above.
  • Please provide the last set of accounts tabled at last Annual General Meeting (AGM) and (if applicable) relevant documentary evidence on disposal of assets and/or liabilities
  • When did the company become dormant (no activity/transaction at all)?
 
Please provide us the information required and we shall contact you for further advice.
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