STRIKING OFF COMPANY

Engage Us to Assist You in Your Company De-registration Process

Have you decided that it is time to move on to your next venture and close-up shop in Singapore? If so, we can assist in the process of striking off your company.

Our Company Strike Off Service: $600

In addition, we have a full range of services that offers assistance from setting up to closing your local business. You find out more about our Accounting Services and other Corporate Solutions.

Companies close or wind-up for different reasons; and there are many ways to go about shutting down your company. One of the options available is to strike off the name of the company from the register.

If you are unsure of the criteria and procedure in applying for de-registration of your company, feel free to call us at (+65) 6871 4838. Our professional team of Corporate Solution Executives will be able to advise and guide you through the Company Strike Off process.

Criteria to Strike Off Company

Accounting and Corporate Regulatory Authority (ACRA) may approve the application if it has reasonable cause to believe that the company is not carrying on business and the company is able to satisfy the following criteria for striking off.

Call Us at (+65) 6871 4838

The company :-

  • has ceased operation or trading
  • is not involved or will not be involved in any court/legal proceedings within or outside Singapore
  • has no existing or contingent assets and liabilities that may arise in the future
  • do not have any outstanding debt/payment owe to any government agency such as tax liabilities (IRAS) or Central Provident Fund (CFP) contributions.
  • do not have any outstanding charges in its charge register (e.g. no mortgages)

In addition, for those company with GST registration, the cancellation of the GST status would be required before applying for the de-registration of the company

Audited Accounts and GST Registration Cancellation

If the company has submitted its last audited accounts, the accounts should have no assets and liabilities. However, if the accounts show that the company has assets and liabilities, the applicant must submit documentary evidence to show that the assets have been disposed of and that the liabilities have been settled or waived. If the company is GST registered and is no longer carrying on a business, it will also have to apply for cancellation of GST registration with IRAS as well.

Process of Deregistration of a Company

This happens when you apply to ACRA to strike off your company name from the Register.

1. Strike Off Company Application Approval

After the company de-registration application is approved, ACRA will notify the relevant parties by mailing the striking off letters to the company’s registered office address, its officers (directors and company secretary) at their residential address and to the IRAS and CPFB. This approval and notification process will be completed within 14 days of the receipt of the company strike-off application by ACRA.

2. First Gazette Notification

If there is no objection from any interested parties to the striking-off of the company within one month of the approval, the name of the company will be published by ACRA in the Government Gazette – First Gazette Notification.

3. Final Gazette Notification

If there are no further objections from anyone after 60 days from the First Gazette Notification, the name of the company will be published in the Government Gazette with an addition of the date that the company is struck off – Final Gazette Notification.

The complete process of the Company De-registration is estimated to take at least 4 months.

Outsource the process of Striking off the Company

The process of completing outstanding transactions and shutting down your business in Singapore may be a long and tedious process. Outsourcing this to Margin Wheeler will guarantee a smooth flow and help you to save time, costs and manpower in handling the company strike off process. It is even easier if you are already an existing client for our other Accounting Services as we will already have access to your company’s background, details and information that may be useful in the company de-registration process. Call us today to find out more about Company De-registration Services.