Our Services » Company Closure / Striking Off Services

Closing a company in Singapore involves navigating complex legal and regulatory requirements. At Covenant Professional Services Pte. Ltd., we specialize in providing comprehensive company closure services, ensuring a seamless and compliant process. This page provide information about how to deregister a company in Singapore and closing a company in Singapore.

OUR COMPANY CLOSURE SERVICES

We offer expert assistance in two primary methods of company closure:

• Striking Off: Ideal for companies that have ceased operations and have no outstanding liabilities. We manage the application process with the Accounting and Corporate Regulatory Authority (ACRA) to remove your company from the official register.

• Voluntary Liquidation: Suitable for solvent companies seeking a formal wind-up. Our team oversees the liquidation process, including asset distribution and creditor settlements, in compliance with Singapore’s legal framework.

WHAT ARE THE CRITERIA IN STRIKING OFF A COMPANY ?

You may wish to close the company for various reasons. One available option is to strike off the name of the company from the register of Accounting and Corporate Regulatory Authority (“ACRA”).

A director of the company may apply to ACRA to strike off the company’s 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:

1. The company has not commenced business since incorporation or has ceased trading. 
2. 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. 
3. The majority of the shareholders have provided written consent to the striking off application. 
4. All the directors have agreed and consent to the striking off application.  
5. The company has submitted the last set of audited accounts (for a public company limited by guarantee) OR the latest unaudited balance sheet (for all other companies). 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.
6. The company has no outstanding tax liabilities with Inland Revenue Authority of Singapore (IRAS). 
7. The company has no outstanding employers’ Central Provident Fund (CPF) contributions owed to the CPF Board. 
8. The company has no outstanding debts owed to any other government agency. 
9. There are no outstanding charges in the charge register. 
10. The company is not involved in any legal proceedings (within or outside Singapore).
11. The company does not have any ongoing or pending regulatory action or disciplinary proceedings.

HOW LONG WILL THE ENTIRE STRIKING OFF PROCESS TAKE ?

Once the application is approved, ACRA may send a striking off notice to the company’s registered office address, its officers (such as directors, company secretary and shareholders) at their address in their records.

• After 30 days from the approval of the striking off application, 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 whole process will take around 4 months if there are no objection against a striking off application

• Any interested person can submit an objection against a striking off application. No fee needs to be paid for this objection. If ACRA receives any objection, ACRA will inform the company of the objection. The company is given 2 months to resolve the matter. If the company is unable to resolve the matter within 2 months, the striking off application will lapse. The company can only submit a new application after the objection has been cleared.

CAN A STRIKE OFF APPLICATION BE WITHDRAWN ?

A company may apply for withdrawal of the striking off application via BizFile website (www.bizfile.gov.sg).

CAN A COMPANY BE RESTORED AFTER BEING STRUCK OFF FROM THE REGISTER ?

Yes, a company can be restored within 6 years after struck off from the register of ACRA by a Court Order. 

There is no filing fee to be paid for the application to ACRA.

WHY CHOOSE US?

• Expert Guidance: Our professionals possess in-depth knowledge of Singapore’s corporate regulations, ensuring your company closure adheres to all legal requirements.

• Tailored Solutions: We understand that each business is unique. Our services are customized to meet your specific needs, providing a personalized approach to company closure.

• Comprehensive Support: From initial consultation to final deregistration, we manage every aspect of the closure process, allowing you to focus on your future endeavors.

WHAT IS THE CONSEQUENCE FOR A DIRECTOR?

Under section 155A of the Companies Act, it states that a director who has at least 3 of his companies struck off by ACRA, within a period of 5 years, will be disqualified from acting as director, or to take part in the management of any company for a period of 5 years commencing after the third company is officially struck off from the register of ACRA.

Contact Us

Navigating the complexities of closing a company in Singapore can be challenging. Let Covenant Professional Services Pte. Ltd. be your trusted partner in ensuring a smooth and compliant closure. Contact us today to discuss your company closure needs and take the first step towards a seamless transition, please contact us by filling the form below.