Striking Off a Singapore Company: A Complete Guide for a Clean, Compliant Closure 

When business owners in Singapore decide to stop operations, many believe that leaving the company dormant will eventually solve the problem. However, a dormant company remains legally active under ACRA and IRAS, meaning it must continue fulfilling annual filing and regulatory obligations. Ignoring these responsibilities can result in penalties, compliance breaches, and even director disqualification.

This is why the Striking Off Singapore Company process is the safest and most cost-effective way to formally close a business that no longer carries on operations. At Advantage, we help entrepreneurs achieve a clean and compliant closure through a smooth, guided process.

 Understanding Striking Off and Why It Matters

Striking off is a formal process conducted by ACRA to remove a company from the official Companies Register. Once the company has been struck off, it legally ceases to exist. This method is suitable for businesses that:

• Have stopped trading permanently

• Have no outstanding debts or liabilities

• Have no pending legal issues

• Do not intend to resume operations

Many directors are unaware that keeping a company inactive still requires filing annual returns, maintaining a registered office, and updating corporate records. Without proper closure, these obligations accumulate and can lead to fines or enforcement actions.

Choosing the Striking Off Singapore Company route ensures that your business exits the market cleanly, without lingering compliance risks or financial burdens.

When Striking Off Is the Best Option

Striking off is ideal for companies in situations such as the following:

• Business decline or market exit

• Closure of an e-commerce or home-based business

• Startup projects that did not scale

• Business migration to another structure or country

• Avoiding annual secretarial and compliance fees

• Simplifying corporate structures or removing inactive entities

For many SMEs and small-scale entrepreneurs, striking off is significantly more practical than liquidation. It is faster, more affordable, and suitable for companies with no assets or liabilities.

 Advantage: Hassle-Free Striking Off of Local Companies in Singapore

At Advantage, we specialize in Striking Off Singapore Company services for local entities that have ceased operations. Our package covers:

• Full preparation of documentation

• Drafting of shareholder consent letters

• Reviewing eligibility

• Submission of the strike-off application

• Handling queries from ACRA

• Payment of ACRA’s official striking-off fee

Our goal is to ensure a smooth, compliant, and stress-free closing process, allowing business owners to exit responsibly without administrative headaches.

 Requirements for Striking Off a Local Company (ACRA Criteria)

If you wish to strike off your company, ACRA requires the following conditions to be met:

The company has ceased or never started operations.

The business must not be carrying out any activity.

 Written consent from the majority of shareholders

A formal consent letter is required before applying.

 No outstanding tax liabilities to IRAS

All filings, GST (if applicable), and tax matters must be completed.

 Cancellation of GST registration (if GST-registered)

This must be done before proceeding with the strike-off.

 No debts owed to government agencies

This includes IRAS, the CPF Board, and other statutory bodies.

 No outstanding charges in the company’s charge register

All registered charges must be cleared or satisfied.

 No ongoing court proceedings

The company must not be involved in warnings, litigation, or investigations.

 No current or contingent assets and liabilities

If assets or liabilities exist, documentary proof must show they are cleared.

 No outstanding summonses issued by ACRA to officers

All compliance issues must be resolved.

Submission of a Statement of Financial Position (Balance Sheet)

This must reflect zero assets and zero liabilities at the cessation date.

Closure of all corporate bank accounts

Proof of closure may be required.

If the company has been dormant since incorporation, meeting these requirements becomes much easier, and the process typically moves faster.

 Steps in the Striking-Off Process in Singapore

The complete Striking Off Singapore Company procedure usually takes around 5 months, provided no objections arise.

Step 1: Preparation & Eligibility Check

At Advantage, we review your company’s compliance status, tax filings, financial position, and obligations to confirm eligibility.

Step 2: Documentation & Consent Letter

We prepare

• Shareholder consent letters

• Required supporting documents

• Balance sheet/statements

• Striking-off application forms

All documents are verified before submission.

Step 3: Submission to ACRA

Your application is officially filed, and ACRA begins its review.

Step 4: ACRA Review (Approximately 30 days)

ACRA checks:

• Tax compliance with IRAS

• GST & CPF matters

• Bank account closures

• Company records

Any discrepancies must be resolved immediately.

Step 5: First Gazette Notification

ACRA publishes a notice to invite objections from:

• Creditors

• Government agencies

• Former employees

• Banks

Step 6: 60-Day Observation Period

If no objections are raised within this period, the application moves forward.

Step 7: Final Gazette Notification

After this final publication, the company is officially struck off and ceases to exist as a legal entity.

Handling Objections and Rejections

If objections are raised during the process, you will be notified and given 2 months to resolve the issue. Reasons for objections may include:

• Unsettled tax matters

• Unpaid CPF contributions

• Pending penalties

• Outstanding bank charges

• Incorrect corporate records

If the issue is resolved within the 2-month timeframe, ACRA resumes the striking-off process. Otherwise, the application lapses and must be refiled after resolving all outstanding matters.

At Advantage, our team helps identify and resolve these objections quickly to prevent unnecessary delays or repeat applications.

Why Choose Advantage?

Selecting a knowledgeable corporate service provider significantly improves the success rate of your Striking Off Singapore Company application. With Advantage, you benefit from:

 Professional Compliance Review

We ensure your company meets all statutory requirements before applying.

 Accurate Documentation

All documents are prepared precisely to prevent rejections.

 Liaison with ACRA & IRAS

We handle all communication to streamline the process.

 Fast & Efficient Handling

Our experience helps reduce processing delays.

 Transparent Pricing with No Hidden Fees

Our package includes all documentation and application fees.

 Stress-Free Closure

You can focus on future opportunities while we take care of the full administrative process.

Conclusion

Striking off a company is a responsible step that ensures proper closure and protects business owners from future liabilities. The Striking Off Singapore Company process, when handled correctly, is an efficient and affordable way to dissolve an inactive entity while staying fully compliant with ACRA and IRAS requirements.

At Advantage, we provide a hassle-free, end-to-end solution to help you transition your company smoothly and confidently. Whether your business is dormant, restructuring, or transitioning to new opportunities, our specialists ensure a clean, compliant, and stress-free exit.

If you need us to review your company’s situation before submitting a striking-off application, simply contact us via call or email—we are here to assist you every step of the way.