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.
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).