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Strike off company

STRIKE OFF COMPANY/ DEREGISTRATION OF COMPANY

Well, it might be possible in some cases, that closing your company can be a more cost-effective decision in place to continuing it. The company striking off system can be more complex in comparison to setting up a new one. Consequently, our company provides you with the right assistance to pass through the complexity and time-consuming process of the striking off of your company. You have the option to engage our company for striking off service, which is designed mainly to help you to take every minor to the major step of the strike-off procedure in an easy way.

With Termatronics, you have the opportunity to focus on more critical matters while we are working hand in hand with all the ACRA and other pertinent government agencies to strike off your company in a legal manner. Our expertise and experience will ease your process of meeting every condition you must meet in accordance with ACRA. The entire process takes up to five months.

CONDITIONS FOR STRIKING OFF

The ACRA will strike a company off the Register only if the company can meet the following conditions:

  • The company has ceased operation;
  • The company is not and will not be involved in any court proceedings, whether in or outside Singapore;
  • The company has no assets and liabilities;
  • The company has no outstanding penalties or offers of masterpiece due to ACRA and not obliged to other government departments;
  • The company has no dues tax burden owing to the Inland Revenue Authority of Singapore (“IRAS”);
  • The company has no outstanding charges in its charge register.
  • There should not be any of the officers of the company have dues ACRA summonses.

WHAT HAPPENS IF THE APPLICATION IS APPROVED?

  • A “striking-off notice” will be sent to the company at its registered office address, its directors at their residential address and IRAS, within 14 days of the receipt of the application;
  • You will be provided a period of 1 month in the “striking-off notice” to anyone that may desire to bring to the fore any objection to the application;
  • After the 1 month period has expired, a notification of the intention to strike this company off the Register after three months it will be made in the Government Gazette. If any person who is interested then one can still raise a protest to the application during this 3 months;
  • After the 3 months have expired, a final notification will be made stating that this company has been struck off the Register. The date that the company is struck off will also be fixed in the concluding notification.
  • The entire striking off process will, therefore, take about 5 months.

WHAT HAPPENS IF THE APPLICATION IS NOT APPROVED?

If the application is not approved, it will be then revisited to the applicant so that the essential changes can be made accordingly. The application can then be re-submitted for our consideration again.

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