You may have various reasons to strike off your company, such as the directors’ unwillingness to conduct the business, declining sales, unprofitable business or disputes between shareholders. In such a case, you will have to deregister your company from the Register of Companies. We, at Jaanik, know that it is a time-consuming and stressful task to strike off your company registered with ACRA, as it involves a lot of documentation and fulfillment of tax compliance criteria. Our professionals are here to make your job easier so that you may focus on other important tasks.
Criteria for Striking Off
To strike off your company, you are required to meet the following conditions set by ACRA:
- Your business should neither have tax liabilities with IRAS or outstanding debts with any government agency
- Your company has closed trading and business activities
- Your company has closed their bank accounts
- Your business should neither have current nor contingent assets or liabilities
- Your business should not be into any legal proceedings in or out of Singapore
- The striking off is approved with written consent from all shareholders and directors
- Your company should not have any outstanding charges in the Register of Charges
- If your company is GST registered, you should cancel the GST status with IRAS
- The officers in your company should have no outstanding ACRA summonses
The strike-off documents vary according to the transactions of your company. However, in general, the ACRA will need the following documents for striking off:
- Application for strike off
- Declaration of strike-off
- Clearance of taxes
- Waiver of Form C, if needed
Application for Strike Off
You may get your company secretary, director or filing agent to make an online application via BizFile+ using SingPass or CorpPass for striking off your company.
In case, your application is not approved by the ACRA, it will be sent back to you to make the required changes. Fret not. We will work with you in understanding the reasons and make the necessary changes. Then we may resubmit it again to the ACRA for consideration.
Process of Striking off a Company
You will need to submit an application for strike off to ACRA. The following table details the stages in the striking off application.
|After Approval||After the striking off application has been approved, the ACRA will send a notice to the company’s registered office address and also the residential addresses of the company’s secretary, directors and shareholders.|
|Notice of Strike Off||A period of 1 month will be given for anyone to raise objections or challenge the application.|
|Publication in Government Gazette||After one month has elapsed, a notification will be made in the government gazette of the intention to strike off. A time period of 60 days will be given to anyone to challenge the strike off.|
|Final Gazette Notification||After the elapse of 60 days, if no one objects, the ACRA will strike the company’s name off the register. The date of strike-off will also be mentioned and the final strike-off will be notified in the government gazette.|
Objections to Striking Off
If there are any objections to the striking off in the application period, the ACRA will inform you of the same. Your application will be withheld and you will be given a time of 2 months to resolve the issue. In the case, you are:
- able to overcome the objection and resolve the matter, the objector should lodge a “Clearance of an Objection to Striking Off” to continue the process.
- unable to overcome the objection, the application will lapse. You can submit a new application only after the issues addressed in the objection have been resolved.
Withdrawing the Strike off Application
Note that you may also withdraw your application for striking off your company through BizFile+. This withdrawal application should be made before your company’s name is struck-off in the register. After the withdrawal of the strike-off application, the registrar will notify your company and post a notice of withdrawal on ACRA’s website.
Striking off a company can be daunting and Jaanik will guide you to sail through the entire process. Whether you seek to close your dormant company or cease your business operations, we will work with you all the way and ease your complexities. Contact us NOW for assistance in your company strike off.
Should you have any queries, send an email to us at email@example.com