Company Strike-off Conditions
When the business of a Company has ceased, it is advisable to close the Company as a dormant company is still subjected to statutory obligations of a Company such as annual return filing which will incur costs to the Company.
Striking off a Company typically is a faster and less complicated process compared to a winding up process. The entire strike off process typically takes approximately less than 6 months to be completed.
Our consultants would be able to you to strike off your Company. Striking off a Company will require certain requirements to be met beforehand. Our consultants can advise you accordingly to ensure a smooth process.
|Fees For Striking Off||S$320|
ACRA will striking off a Company off the register only if the Company meets the following conditions:
- The Company has not commenced business since incorporation or has ceased trading.
- The Company has no existing assets and liabilities as at the date of application and no contingent asset and liabilities that may arise in the future.
- The majority of the shareholder(s) has/have provided written consent to the striking off application.
- All the director(s) agree and consent to the striking off application.
- The Company has submitted the last set of audited accounts (only for a public company limited by guarantee) OR the latest unaudited balance sheet (for all other companies).
- The Company has no outstanding tax liabilities with Inland Revenue Authority of Singapore (IRAS).
- The Company has no outstanding employers’ Central Provident Fund (CPF) contributions owing to the CPF Board.
- The Company has no outstanding debts owed to any other government agency.
- There are no outstanding charges in the charge register.
- The Company is not involved in any legal proceedings (within or outside Singapore).