Striking-Off/De-Registration of Singapore Company
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 has no outstanding tax liabilities owing to IRAS and is not indebted to any other Government department.
- The Company has no outstanding charges in the Register of Charges.
- The Company is not involved or threatened with legal proceedings within or outside Sinpgaore.
- There is no outstanding summon from the ACRA in the name of any Company Officer.
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 the 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 OF REJECTION OF APPLICATION
When the application is not approved for some reason such as submission of incomplete documentation or existence of outstanding assets or liabilities, the ACRA returns the application for the applicant to make the essential changes or take appropriate action. In such a case, you can re-submit the application for re-consideration.