A company does not close when its business stops. It remains on the register kept by the Accounting and Corporate Regulatory Authority (ACRA), and its directors remain responsible for its annual returns, tax filings and other obligations until it is formally closed.
Singapore offers two routes. Striking off suits a company with nothing left to settle. Winding up applies where the company still holds assets or owes money. This guide explains both, based on current guidance from ACRA and IRAS.
The short version
A company that has stopped trading, owns nothing and owes nothing can usually be struck off. The application is made to ACRA on Bizfile at no cost and, for applications made from 20 October 2026, takes at least two months after approval.
A company with assets, debts or potential claims must be wound up by a liquidator, which takes longer and costs more. Under either route, the company’s tax affairs must be settled first.
At a glance
| Striking off | Winding up | |
|---|---|---|
| Suitable for | Companies with no assets and no liabilities | Companies with assets to distribute or debts to pay |
| Handled by | The company, through ACRA | A liquidator |
| Cost | No ACRA fee (fees apply to corporate secretarial provider) | Liquidator’s fees, and court costs where the court is involved |
| Minimum time | Two months from ACRA’s approval | Usually several months |
Before either route
IRAS expects the final tax return to be filed and any tax paid, within 30 days of the assessment, before a company applies to strike off. Most straightforward assessments are completed within about two months.
A GST-registered company must also cancel its registration and file a final GST return. All CPF contributions should be paid, final accounts and annual returns brought up to date, and the bank account closed last. The company’s records should be kept for at least five years.
Striking off
Who qualifies
ACRA will approve an application only where the company:
- has ceased trading, or never began operating;
- has no assets and no liabilities, including amounts owed to IRAS, the CPF Board or other government agencies;
- has no charges registered against it;
- is not involved in legal proceedings or regulatory action; and
- is supported by all, or most, of its directors.
The process
- The company or a corporate secretarial provider apply on Bizfile. Other directors, where required, must endorse the application within 14 days.
- On approval, ACRA publishes a notice in the Government Gazette, and interested parties have 60 days to object.
- If no objection is made, a final notice is published and the company is struck off.
After striking off
A struck-off company can be restored to the register by court order within six years, usually where a creditor brings a claim. Striking off also does not release directors from liabilities incurred while the company existed, so each condition should be checked carefully before applying.
Winding up
The process is governed by the Insolvency, Restructuring and Dissolution Act 2018. A liquidator realises the company’s assets, pays its creditors in the order set by law and returns any surplus to the shareholders before the company is dissolved. It takes one of four forms:
- Members’ voluntary winding up, for a solvent company whose directors declare that it can settle all its debts within 12 months.
- Creditors’ voluntary winding up, for a company that cannot pay its debts, with the creditors taking part in appointing the liquidator.
- Compulsory winding up, ordered by the court, usually on an unpaid creditor’s application.
- Simplified winding up, a quicker, out-of-court route for companies with total liabilities of up to S$2 million.
Keeping the company dormant
A company that may be used again need not be closed. It can remain dormant, but it must continue to meet its ACRA and IRAS filing obligations each year.
Frequently asked questions
Can a company with money in the bank be struck off? No. It must have no assets, so the funds must be dealt with properly first, or the company wound up instead.
Does striking off cost anything? ACRA charges no fee. The costs lie in bringing the accounts and tax filings up to date and fees apply to the corporate secretarial provider handling the strike off process.
Can a struck-off company be revived? Yes, by court order within six years.
Can the application be withdrawn? Yes, at any time before the company is struck off.
Closing the company properly
A company closed with care leaves nothing for anyone to pursue later. HC Consultancy can review your company’s position, bring its filings up to date and manage the striking-off application. Get in touch to discuss closing your company.
