Striking off Company
A company can submit an application to ACRA for the removal of its name from the Register. ACRA may grant approval if there is reasonable cause to believe that the company is not actively conducting business and if the company meets the stipulated criteria for striking off.
- The company has not initiated business activities since its incorporation or has ceased trading.
- The company possesses no current or future assets and liabilities.
- Written consent from the majority of shareholders has been obtained by the directors.
- For public companies limited by guarantee, the company has submitted the last set of audited accounts; for all other companies, the latest unaudited balance sheet has been provided.
- No outstanding tax liabilities exist with IRAS.
- The company has settled all outstanding employer's CPF contributions owed to the Central Provident Fund Board (CPFB).
- No outstanding debts are owed to any other government agency.
- There are no outstanding charges in the charge register.
- The company is not currently involved in any court proceedings, either within or outside Singapore.
If the company has submitted its latest audited accounts, those accounts should reflect no remaining assets and liabilities. In the event that the accounts indicate the presence of assets and liabilities, the applicant is required to furnish documentary evidence demonstrating the disposal of assets and settlement or waiver of liabilities.
- Upon approval of the application, ACRA will dispatch a striking off letter to the company's registered office address and the residential addresses of its officers (directors and company secretary), as well as to IRAS and CPFB.
- In the absence of objections, ACRA will publish the company's name in the Government Gazette, referred to as the First Gazette Notification.
- Following 60 days from the First Gazette Notification, if no objections arise, ACRA will publish the company's name in the Government Gazette again, and the company will be officially struck off the register, with the specified date indicated. This marks the Final Gazette Notification.
- The entire process is expected to span a minimum of 4 months.
