In order to qualify for a company strike off, your company must meet the following requirements as outlined by ACRA:
- The company has not commenced business since incorporation or has ceased trading.
- 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 majority of the shareholder(s) has/have provided written consent to the striking off application.
- All the director(s) agree and consent to the striking off application.
- The company has submitted the last set of audited accounts (only for a public company limited by guarantee) OR the latest unaudited balance sheet (for all other companies).
- The company has no outstanding tax liabilities with Inland Revenue Authority of Singapore (IRAS).
- The company has no outstanding employers’ Central Provident Fund (CPF) contributions owing to the CPF Board.
- The company has no outstanding debts owed to any other government agency.
- There are no outstanding charges in the charge register.
- The company is not involved in any legal proceedings (within or outside Singapore).
- If the company has submitted its last audited accounts, the accounts should have no assets and liabilities. However, if the accounts show that the company has assets and liabilities, the applicant must submit documentary evidence to show that the assets have been disposed off and that the liabilities have been settled or waived.
As outlined, there is a very comprehensive set of requirements to strike off a company. We here at CorpServe Asia can ensure that you meet all these conditions, including disposing off assets and liabilities etc.