You may apply to strike off your company’s name off the Companies Register of ACRA, if it is no longer carrying on business.
Our striking off a local company package includes all documentation preparation to submit the application, drafting of shareholder’s consent letter with regards to the striking off application and the striking off application fees to ACRA.
Requirements for Striking Off a Local Company
- The company has ceased business operations or has not started any business operations since incorporation
- The company has obtained written consent from the majority of the shareholders regarding the strike off
- There are no outstanding tax liabilities to IRAS
- Cancellation of GST status with IRAS (if the company is GST registered)
- There are no debts owed to any Government agencies
- There are no outstanding charges in the company’s charge register
- There are no on-going court proceedings involving the company
- There are no current or contingent assets and liabilities
- There are no outstanding summonses by ACRA on any of the officers of the company
- Submission of Statement of Financial Position (Balance Sheet) as at the date of cessation of business
- Closure of all bank accounts of the company
If the company has assets and liabilities in the books, it will be required to submit documentary proofs to show that all assets and liabilities of the company have been cleared off. If the company has been dormant since incorporation, the company will need to submit a letter stating that the company had:
- There are no business transactions since incorporation
- Not opened any bank account, or the bank account has been closed
The whole process to strike off a local company will take approximately 5 months, provided that there are no objection raised by concern parties over the striking off application.
Should there be any objection raised by any concern parties, you will be informed to resolve the outstanding matter within 2 months from the date of the objection raised.
If you have successfully resolve the matter within 2 months, ACRA will proceed on with the striking off application. If not, the striking off application will lapse and you will need to submit a new application for striking off a local company once the matter has been resolved.
Should you need us to review your circumstances / situation before submitting a striking off application, please feel free to contact us via call or email.