Striking off

Striking Off Your Company: A Simplified Guide

If you’re considering striking off your company due to reasons like declining sales, unprofitability, director disagreements, or other factors, deregistering your company from ACRA can be a complex and time-consuming process. At Global Business 360, we specialize in streamlining this process to alleviate your stress and let you focus on what matters most.

Key Criteria for Striking Off

To successfully strike off your company, you need to meet the following ACRA requirements:

  1. No Outstanding Tax Liabilities: Ensure there are no tax liabilities with IRAS or outstanding debts with any government agency.
  2. Closed Business Activities: Your company must have ceased all trading and business operations.
  3. Bank Accounts Closed: All company bank accounts should be closed.
  4. No Assets or Liabilities: Your business should have no current or contingent assets or liabilities.
  5. No Legal Proceedings: Ensure there are no ongoing legal proceedings involving your company, whether in Singapore or elsewhere.
  6. Shareholder and Director Consent: Obtain written consent from all shareholders and directors.
  7. No Outstanding Charges: Your company must not have any outstanding charges in the Register of Charges.
  8. GST Status: If GST-registered, you must cancel the GST status with IRAS.
  9. No ACRA Summonses: Ensure that company officers have no outstanding ACRA summonses.

Required Documentation

The documents needed for the striking off process can vary based on your company’s specific situation. Generally, you will need to provide:

  • Application for Strike Off
  • Declaration of Strike-Off
  • Clearance of Taxes
  • Waiver of Form C (if applicable)

Application Process

You can apply for striking off your company online through BizFile+ using SingPass or CorpPass. The application can be submitted by your company secretary, director, or filing agent.

If your application is not immediately approved, ACRA will return it with details on necessary changes. Don’t worry—our team at Global Business 360 will help you understand the feedback, make the required adjustments, and resubmit your application to ACRA for approval.

At Global Business 360, we handle the intricacies of this process to ensure a smooth and efficient strike-off, allowing you to concentrate on other important tasks. Reach out to us to get started or for any assistance you may need!

Process of Striking Off a Company

If you’re looking to strike off your company, here’s a step-by-step overview of the process:

  1. Submit Application for Strike Off
  • Start by submitting your application for strike off to ACRA. This application can be filed online through BizFile+ by your company secretary, director, or filing agent.
  1. ACRA Approval
  • Once ACRA approves your application, they will issue a notice to the company’s registered office address, as well as to the residential addresses of the company’s secretary, directors, and shareholders.
  1. Notice of Strike Off
  • A notice period of 1 month is given during which anyone can raise objections or challenge the strike off application.
  1. Publication in Government Gazette
  • After the initial one-month period, ACRA will publish a notification in the Government Gazette regarding the intention to strike off the company. This notification allows a further 60-day period for anyone to file objections.
  1. Final Gazette Notification
  • If no objections are received within the 60-day period, ACRA will proceed with striking off the company’s name from the register. The final strike-off will be officially recorded in the Government Gazette, including the date of strike-off.

This process ensures that all stakeholders have the opportunity to voice any concerns before the company is formally struck off. If you need assistance with any stage of this process, Global Business 360 is here to help you navigate through it smoothly.

Handling Objections and Withdrawing Your Strike-Off Application

Objections to Striking Off

If objections to your strike-off application arise during the notice period, ACRA will inform you directly. Your application will be paused, and you will have 2 months to address the objections. Here’s what you need to know:

  • Overcoming the Objection: If you successfully resolve the issues raised by the objection, the objector must submit a “Clearance of an Objection to Striking Off.” Once this is done, your application can proceed.
  • Unable to Resolve: If you cannot address the objection, your application will lapse. You may only submit a new application after resolving the issues highlighted in the objection.

Withdrawing the Strike-Off Application

If you decide to withdraw your strike-off application before your company’s name is removed from the register, you can do so through BizFile+. After submitting the withdrawal request, ACRA will notify your company and post a notice of the withdrawal on their website.

Striking off a company can be a complex process, but Global Business 360 is here to help you through every step. Whether you’re closing a dormant company or ceasing business operations, we provide comprehensive support to simplify the process. Contact us today for expert assistance with your company strike-off!

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