Striking off a local Company

Striking off a local Company

This is the most common way in which a company closes down as it is the cheapest to do so. A private limited company can apply to the regulatory (ACRA) to strike its name off the Register under the Companies Act.

Striking Off a Local Company

Striking Off a Local Company – The regulatory body (ACRA) may approve the application if the company can prove that it is not carrying on business and that the company is able to satisfy the criteria for striking off.

We provide advisory services relating to striking off or de-registration of businesses and limited liability companies.

Below is the criteria for striking off: 

  • The company has not commenced business since incorporation or has ceased trading.
  • The company has no existing assets or liabilities as at the date of application and no contingent assets and liabilities that may arise in the future.
  • The majority of the shareholders(s) has/have provided written consent to the striking off application.
  • All the directors agree and consent to the striking off application.
  • 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).
  • Has no outstanding tax liabilities with IRAS.
  • The company has no outstanding employers’ 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).

Need us to do the final financial report (bookkeeping) before proceed for striking off? Contact us for free consultation now, our accounting expert will assist you.

Pricing

Fees charges are depending on the complexity of the current financial position of the Company that need to strike off.  Contact us for actual quotation.

Striking Off a Local Company
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