Certain companies may decide to close down for a variety of reasons. These companies may have ceased business and the shareholders and directors may decide that they would like to close down the company. Some other reasons might include unprofitability of business, the retirement of key personnel and disagreements among key members in the company. Whatever the case, there are certain ways and matters which need to be settled before closing down a company.
There are two ways to close down a company:

  1. Winding Up
  2. Striking Off

Winding Up
Winding up is the more formal procedure of the two. It involves the appointment of a liquidator to manage the winding up process. The liquidator will be in charge of liquidating the company’s assets and paying off any creditors. Only after creditors have been repaid can there be any distribution of whatever surplus there may be to the shareholders.
There are two main types of winding up. Voluntary winding up by Members or Winding up by Creditors.
We will touch more on winding up in a separate article as the process is rather complex.

Striking Off
Striking off a company is less formal and is usually the route that most companies take to close down. It involves the company making an application to ACRA to have its name removed off the register of companies. The following criteria must be fulfilled before a company can be struck off the register.

  • There must not be any court proceedings within or outside of Singapore.
  • The company must have ceased all business activities or not have commenced business since incorporation.
  • The company has no existing assets and liabilities as at the date of application and no contingent asset and liabilities that may arise in the future.
  • The company has no outstanding debts owed to the Inland Revenue Authority of Singapore (IRAS), the Central Provident Fund (CPF) Board or any other government agency.
  • The company must not have any outstanding charges in the charge register.
  • The company is not subject to any ongoing or pending regulatory action or disciplinary proceeding.
  • The company (all or the majority of the directors) authorise the applicant to submit the striking off application.

NOTE: Please ensure that there is no outstanding tax credit owing to the company before applying for striking off. When the company is dissolved, any tax credit due to the company will be paid over to the Insolvency and Public Trustee’s Office (IPTO). The shareholders of the defunct company may approach IPTO if they wish to claim the tax credit. Please note that IPTO may impose charges for the processing of the claim. For more information on how to make a claim, please visit ACRA’s current guidance on outstanding tax credits.

Voluntary striking-off process: check the application date

For applications made on or after 20 October 2026, ACRA sends and publishes the First Gazette notice after approval. Officers and interested parties have 60 days from that notice to object. If no objection prevents completion, ACRA publishes the Final Gazette notice and the company is struck off on its stated date and time. The process takes at least two months after approval.

For applications made before 20 October 2026, ACRA describes a preliminary letter-stage 30-day objection period followed by the First Gazette and a 60-day waiting period. The minimum is three months after approval. These are minimum process periods, not a promised completion date.

If ACRA accepts an objection, contact the objector to resolve it. An unresolved objection causes the process to lapse after two months; a fresh application can be made only after the objection is cleared. See ACRA’s current voluntary striking-off guide.

ACRA-initiated striking off is different

For an ACRA-initiated striking-off letter dated on or after 20 October 2026, the letter-stage objection period is 15 days. Do not apply this to every voluntary or Gazette stage. Check ACRA’s enforcement guidance and the actual notice promptly.

For corporate secretarial and accounting support with a company closure, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Legal assistance is provided through advisers from associated law firms.

When in doubt, seek legal advice or consult an experienced ACRA Filing Agent.

Yours Sincerely,
The editorial team at Singapore Secretary Services

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For related records, see our statutory recordkeeping guide, company secretary guide and company records checklist.