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Table of Contents
Striking off a company in Singapore means settling outstanding tax obligations with IRAS, confirming there are no pending legal proceedings, filing a strike off application with ACRA, and waiting for the company to be removed from the register.
Understanding how to strike off a company in Singapore starts with knowing that striking off only works for solvent companies with no outstanding liabilities, disputes, or assets. It isn’t the same as winding up, and choosing the wrong route can create legal complications.
Before you file anything, though, it’s worth asking whether the company is really finished, or just quiet for now.
Key Takeaways
- Striking off is a simplified way to close a company in Singapore, but it’s only available to companies that meet ACRA’s eligibility criteria.
- The company must have stopped trading, hold no assets, carry no outstanding liabilities, and have no pending legal proceedings.
- IRAS has to confirm there are no outstanding tax matters before ACRA will proceed with the application.
- A 60-day objection window follows ACRA’s Gazette notice, giving creditors and other parties a chance to raise concerns before the company is struck off.
- If there’s a chance you’ll need the company again, dormancy is worth weighing first, it’s reversible, and much lower-risk than closing for good.
What does it mean to strike off a company in Singapore?
Striking off is a voluntary, administrative process that removes a company from ACRA’s register, though it isn’t the only way to close a business in Singapore. Only companies meeting a specific set of legal and financial conditions can use it.
Business owners sometimes confuse striking off with winding up. Both end with the company ceasing to exist, but they follow different procedures, involve different costs, and suit different situations.
Under the Companies Act, ACRA has the legal authority to strike off a company from its register once the company meets the criteria set out for striking off(1).
Knowing this distinction upfront helps directors choose the right closure route and avoid unnecessary delays or legal exposure.
Striking off vs. winding up
Striking off is the simpler, lower-cost route, built for a company that has truly stopped trading and has nothing left to settle. Winding up, by contrast, requires appointing a liquidator and applies when a company has debts or disputes it cannot resolve informally.
Striking off isn’t suitable for an insolvent company. Attempting to strike off a company with unresolved liabilities can expose directors to personal liability.
Tips
Who can apply for a strike off
Only a director or an authorised representative can submit the application, filed through ACRA’s Bizfile portal. The company needs to have been inactive for the recent period and meet every eligibility condition before the application goes in.
Criteria for striking off a company in Singapore
Meeting ACRA’s eligibility criteria takes more than good intentions. Directors must confirm every condition before applying, since a single missed condition results in the application being rejected or objected to.
ACRA has a defined set of conditions that must be satisfied before a strike off application will be approved. Some relate to the company’s legal status, others to its financial position and tax standing.
According to ACRA’s official guidance, a company may be struck off the register if it is not carrying on business, has no outstanding liabilities, holds no assets, and has no pending legal proceedings or registered charges against it(2).
Directors should run through this checklist before submitting the application, not after.
Legal and operational conditions
These conditions cover the company’s operations and legal standing, separate from the tax requirement covered next. To qualify, the company must:
- Have ceased business, or never commenced it
- Carry no registered charges, such as mortgages or other security interests
- Hold no assets, including property or bank balances
- Face no pending legal proceedings, in or outside Singapore
Tax and financial conditions
IRAS must confirm there are no outstanding tax matters before ACRA will proceed with the strike off. This means all corporate income tax returns need to be filed, and any outstanding tax liabilities settled, before the application goes in.
Companies are required to clear every outstanding tax matter with IRAS ahead of applying to ACRA; otherwise, IRAS will object, and the process will take considerably longer to clear(3).
How to strike off a company in Singapore: Step by step
Striking off a company in Singapore involves confirming eligibility, settling tax matters with IRAS, submitting the application through Bizfile, and waiting for ACRA to complete the removal process.
The process is administrative, but it demands real preparation. Submitting before every condition is met results in objections or rejection, which delays the closure timeline.
Step 1: Run through the eligibility checklist one more time
Treat this as a final sweep through everything covered under Criteria for Striking Off above, nothing new, just confirmation. It’s also the point to review bank accounts, outstanding invoices, leases, contracts, and any registered security interests, since these need resolving before the application is filed, not after.
Step 2: File all outstanding tax returns and obtain IRAS clearance
All corporate income tax returns need to be filed with IRAS up to the date business ceased. IRAS is notified automatically once the strike off application is submitted, but outstanding tax matters must be cleared beforehand to avoid an IRAS objection partway through the process.
Step 3: Submit the strike off application via Bizfile
The application is filed online through ACRA’s Bizfile portal, by a director or an authorised representative. It requires confirmation of every eligibility condition, the date business ceased, and a formal declaration by the director.
There’s typically no ACRA filing fee, though it’s worth confirming the current fee schedule on Bizfile before submitting.
Step 4: ACRA sends notice to the company and relevant parties
Once the application is received, ACRA notifies the company’s registered address, along with IRAS, the CPF Board, and other relevant government agencies. These agencies then have a window to raise any objections before the process moves forward.
Step 5: ACRA publishes a Gazette notice and waits for objections
ACRA publishes the intended strike off in the Government Gazette and opens a 60-day window for creditors, members, or other interested parties to object. If no objections come in, ACRA proceeds to strike the company off the register.
Step 6: Company is struck off and directors receive confirmation
Once the objection period passes without issue, ACRA strikes the company off the register and issues a confirmation notice. The company ceases to exist as a legal entity from this point, and directors should retain company records for the required period even after closure.
Common reasons ACRA rejects a strike off application
Missing tax clearance or leaving liabilities undisclosed causes most rejections, and nearly all of them are avoidable with proper preparation.
ACRA or a government agency can object to an application during the notice period. Knowing the common reasons in advance helps directors resolve issues before they submit, rather than after a rejection arrives. A rejected application doesn’t permanently block a future strike off, but it does add time and cost to the process.
Outstanding tax matters with IRAS
An IRAS objection is one of the most common reasons a strike off gets delayed or rejected, usually tracing back to unfiled tax returns, outstanding assessments, or unresolved GST matters.
Unresolved liabilities or legal proceedings
Any known creditor, legal counterparty, or party with a registered charge can object during the Gazette notice period. Directors are legally obligated to disclose liabilities accurately in their declaration, and providing false information in a strike off application is a serious offence.
Active bank accounts or remaining assets
A company with an active bank account or any remaining assets doesn’t meet the eligibility conditions. Directors should close every business bank account and distribute or transfer any remaining assets before applying.
What directors should do to avoid an involuntary strike off
Staying ahead of an involuntary strike off comes down to a short list of habits:
- Keep annual returns and other statutory filings up to date, even while the company is inactive
- Respond within the specified period if a notice arrives and the company isn’t meant to close, objecting and bringing filings current
- Act quickly if the company has already been struck off involuntarily; restoration involves considerably more time and cost than maintaining compliance from the start
Post-closure checklist after striking off
Wrapping up doesn’t end the moment the company is struck off; a few practical tasks still remain:
- Retain all company records, including financial statements, director resolutions, contracts, and tax filings, for at least five years after the strike off date
- Cancel any remaining business licences, permits, or registrations held under the company name
- Notify banks, suppliers, and customers that the company has closed
- Transfer or allow to lapse any intellectual property, such as trademarks or domain names, held under the company
One more thing worth knowing: a struck-off company can come back onto the register within six years if there’s a valid reason to restore it(4). It’s possible, but it’s not something to lean on, getting the closure right the first time beats undoing it later.
Still not sure whether to close? BBCIncorp can help
Closure shouldn’t be the default move, it’s the last one, once every other option has been ruled out. Before you commit to a strike off, ask whether the business has actually run its course, or whether it just needs some time off the radar.
Companies that aren’t ready to commit either way can keep the entity dormant instead. The company name, banking relationships, and legal standing all stay in place for a modest annual fee, and the business can be reactivated whenever it’s ready to trade again.
Curious whether that fits your situation? See keeping a Singapore company dormant before anything gets submitted to ACRA.
For those set on closing, BBCIncorp handles the strike off from end to end in Singapore: reviewing eligibility, coordinating with IRAS on tax clearance, filing through Bizfile, liaising with the relevant agencies, and managing the records once it’s done.
Going this route lowers the odds of objections, rejected paperwork, or delays from missing documents, and it costs less than piecing the process together on your own. Explore BBCIncorp’s Singapore company strike off service once you’ve decided closure, not a pause, is the right call.
Conclusion
Getting a company struck off in Singapore isn’t complicated once every condition is met and IRAS has signed off, but it does take real preparation, especially around clearing tax matters before ACRA will move forward.
If you’re still working through how to strike off a company in Singapore, start by confirming eligibility and clearing every outstanding matter first, a single missed condition is enough to stall the whole process.
Talk to our team to get every step right, whether that’s closing the company or exploring the dormant option first.
References:
- (1): Accounting and Corporate Regulatory Authority – Closing a Local Company: https://www.acra.gov.sg/manage/companies/closing-a-local-company/
- (2), (4): Accounting and Corporate Regulatory Authority – Striking Off a Local Company: https://www.acra.gov.sg/manage/companies/closing-a-local-company/striking-off/
- (3): Inland Revenue Authority of Singapore – Companies Applying for Strike Off/ to Cease Registration: https://www.iras.gov.sg/taxes/corporate-income-tax/dormant-companies-or-companies-closing-down/companies-applying-for-strike-off-to-cease-registration
- (5): Accounting and Corporate Regulatory Authority – Striking Off of Companies That Failed to File ARs: https://www.acra.gov.sg/compliance/offences-of-not-holding-agm-or-filing-ars-late-or-not-laying-up-to-date-accounts-at-agm/AGM-and-annual-return-breaches/striking-off-of-companies-that-failed-to-file-ars
Frequently Asked Questions
Can ACRA strike off your company without your application?
Directors don’t always initiate the process themselves. Under Section 344 of the Companies Act, ACRA can strike off a company on its own initiative if it has reasonable cause to believe the company is no longer carrying on business, a power it typically exercises after years of unfiled annual returns or an unreachable registered address.(5)
This can catch directors off guard, especially if the company was meant to be kept dormant for future use. ACRA first sends a notice to the company’s registered address; if there’s no response, a Gazette notice follows and the strike off proceeds from there.
How long does it take to strike off a company in Singapore?
Expect roughly four to six months from submission to final confirmation. The bulk of that time is ACRA’s own timeline: a Gazette notice followed by a 60-day window for objections before the company comes off the register.
Can I strike off a company that still has a bank account?
No. A company with an active bank account or any remaining assets does not meet ACRA’s eligibility conditions. All business bank accounts must be closed, and any funds distributed or transferred, before the application is submitted.
What is the difference between striking off and winding up in Singapore?
Striking off is a simpler, lower-cost administrative process for companies with no debts that have truly wound down operations. Winding up is a formal process involving a liquidator, required when a company has outstanding debts or disputes that can’t be resolved informally.
Can a struck-off company be restored in Singapore?
Yes, restoration is possible within six years, either by court order or, in some cases, directly through ACRA. It’s not a quick or certain process, though, so don’t count on it as a backup plan if you’re still unsure about closing for good.
Do I need to notify IRAS separately before applying to strike off my company?
Yes. Companies must settle all outstanding tax liabilities and file any pending tax returns with IRAS before applying to ACRA. Otherwise, IRAS will object to the application, and the process will take considerably longer to clear.
Disclaimer: While BBCIncorp strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact BBCIncorp’s customer services for advice on your specific cases.
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