Corporate Secretarial
When a company has served its purpose, we close it properly. Strike-off for clean, dormant companies. Members’ voluntary winding up where assets must be distributed. Done right, closure is quiet; done wrong, it follows the directors around.
Before ACRA will strike a company off, it must have ceased business, hold no assets or liabilities, owe no taxes, and have no outstanding filings or charges. In practice the sequence is: settle creditors and employees, obtain tax clearance from IRAS, close the bank account, then apply. ACRA publishes the intention in the Gazette and, if nobody objects, the company is struck off roughly four to six months after application. Where there are assets to distribute to shareholders, strike-off is the wrong tool: a members’ voluntary winding up with a liquidator is the proper route, and trying to shortcut it creates personal risk for directors.
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Around four to six months from application, including ACRA’s gazette periods, provided the company is clean when we apply.
Outstanding taxes, employee obligations and creditor claims. The bank account is normally closed before applying, and final accounts prepared up to cessation.
Strike-off suits dormant companies with nothing left to distribute. If there are assets for shareholders or any complexity, a members’ voluntary winding up is the correct route.
Yes, within six years by court order, which is also why directors should keep the company’s records for five years after closure.
The filings kept falling due, so penalties have likely accrued. We compute the position, regularise the record and then close it properly, which almost always costs less than leaving it.
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Accounting, corporate secretarial, payroll and advisory for Singapore SMEs since 2012.
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Ian & Son refers to the Ian & Son network and/or one or more of its member firms, each of which is a separate legal entity. Contact us to learn more.
