Striking off Company
A company may apply to ACRA to strike off its name from the Register. 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.
- The company has not commenced business since incorporation or has ceased trading.
- The company has no assets and liabilities (current/future).
- The directors have obtained the written consent of the majority of the shareholders.
- 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 IRAS.
- The company has no outstanding employers’ CPF contributions owing to the Central Provident Fund Board (CPFB).
- 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 court proceedings (within or outside Singapore).
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 off and that the liabilities have been settled or waived.
- Once the application is approved, ACRA will send a striking off letter to the company’s registered office address, its officers (directors and company secretary) at their residential address and to IRAS and CPFB.
- If there is no objection, ACRA will publish the name of the company in the Government Gazette. This is known as the First Gazette Notification.
- After 60 days from the First Gazette Notification, if there is no objection, ACRA will publish the name of the company in the Government Gazette again and the name of the company will be struck off the register. The date that the company is struck off will be stated. This is known as the Final Gazette Notification.
- The entire process will take at least 4 months.