Company striking off is referring to remove a local company from ACRA’s registry after it has been incorporated. A format application through ACRA will require. ACRA may approve the application if it has reasonable cause to believe that the company is not carrying on business and the company is able to satisfy the following criteria for striking off. If a company has assets and liabilities when request for striking off, it must submit documentary evidence to show that the assets have been disposed off, and that the liabilities have been settled or waived.
Below are the pre-requisites for company strike off:
• The company has no longer in business, or not in business since it has incorporated
• It must not have any outstanding penalties and debts to ACRA or any Government organisations, as well as no officers has any outstanding summonses with ACRA.
• It do not own any assets or liabilities
• 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 is not and will not be involved in any court proceedings, whether in or outside Singapore
• The company has no outstanding debts owed to any other government agency, no outstanding tax owning to the Inland Revenue Authority of Singapore (IRAS) and no outstanding employers’ CPF contributions owing to the Central Provident Fund Board (CPFB)
• It do not have any outstanding mortgages
• Written consent obtained from all the shareholders
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