Company De-Registration / Strike-Off
 
The Accounting and Corporate Regulatory Authority (ACRA) is empowered by the Singapore Companies Act to strike-off a Company off its Register if it finds sound reasons that prove that the Company is no longer in operation.
 
Causes behind striking off a Singapore Company The ACRA will check the following conditions before striking a company off the Register.

• ● The Company has ceased its operations or has not commenced business activities since the date of incorporation.
• ● The Company has no assets and liabilities.
• ● There are no outstanding penalties or offers of composition fines owing to ACRA.
• ● The Company is not involved or threatened with legal proceedings within or outside Singapore.
• ● There is no outstanding summon from the ACRA in the name of any Company Officer.
• ● The majority of the shareholder(s) has/have provided written consent to the striking off application. All the director(s) agree and consent to the striking off application.
• ● 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 the Inland Revenue Authority of Singapore (IRAS).
• ● The company has no outstanding employers’ Central Provident Fund (CPF) contributions owing to the CPF Board.
• ● There are no outstanding charges of the Company in the charge register.

Once ACRA approves an application, the following process takes place:

• ● The ACRA sends out a “Striking-Off Notice” to the company at its registered office address, the company directors at their residential address, and IRAS.
• ● The notice is sent within 2 weeks of receiving the application. ACRA provides a one-month period after the notice is sent for anyone to raise an objection.
• ● Once the one-month notice period expires, the ACRA will publish the name of the company in the Government Gazette. This is known as the First Gazette Notification and a
  3-month period is given for anyone to raize an objection to the striking-off application.
• ● Subsequently, after a 3-month period from the First Gazette Notification, if there is no objection, ACRA will publish the name of the Company in the Government Gazette and the name of the Company will be struck off the Register. The date that the Company is struck off will be stated.
• ● Overall, it takes at least 5 months for this entire process.

In case like to maintain the Company without doing any business, please note that Company still need to fulfill the statutory obligations of filing your Annual Returns to ACRA , regardless of whether the Company is active or not. Company may also need to inform IRAS of your business cessation so that Company would not need to file for taxes for periods where the Company is dormant, otherwise, Company will still be obliged to file for taxes every year