When a company has run its course — whether the business venture didn’t take off, operations have wound down, or shareholders simply want a clean exit — striking off is often the fastest and most cost-effective way to close the chapter. Under Singapore’s Companies Act 1967, a dormant or ceased company can apply directly to the Accounting and Corporate Regulatory Authority (ACRA) for voluntary striking off, without the cost and formality of a full winding-up process.
This guide walks directors and business owners through everything they need to know: whether your company qualifies, how to prepare, the step-by-step process via BizFile+, what IRAS requires, and the key risks to watch out for.
Strike Off vs Winding Up: Understanding the Difference
Many directors use “strike off” and “winding up” interchangeably, but they are distinct legal processes.
A voluntary strike off is an administrative process available to companies that are inactive and debt-free. ACRA removes the company from its register after a statutory notice period. It is faster, cheaper, and suitable for solvent companies that have simply ceased operations.
Winding up (also called liquidation) is a more formal legal process overseen by a liquidator, used when a company has assets to distribute, outstanding debts, or ongoing legal obligations. For a Creditors’ Voluntary Liquidation (CVL) or a court-ordered winding up, you will need to engage a licensed insolvency practitioner.
If your company has ceased all business, has no outstanding debts, and simply needs to be closed, a voluntary strike off via ACRA is almost certainly the right route.
Eligibility Criteria: Does Your Company Qualify?
ACRA will only approve a voluntary striking off application if the company satisfies all of the following conditions:
- Ceased trading or never commenced business — the company has stopped all business activities, or was incorporated but never traded.
- No outstanding debts to government agencies — this includes IRAS (corporate income tax, GST), CPF Board, and all other statutory bodies. Any outstanding amounts must be settled before you apply.
- No outstanding charges in the charge register — if the company has granted a fixed or floating charge (e.g. a bank mortgage over property, or a debenture over assets) that has not been discharged, you cannot apply.
- No ongoing or pending legal proceedings — inside or outside Singapore. This includes pending litigation, arbitration, and any court proceedings to which the company is a party.
- No ongoing or pending regulatory or disciplinary proceedings — including MAS, MOM, IRAS, or other regulatory investigations.
- No existing assets or liabilities — the company must have cleared all assets (including bank accounts) and settled all liabilities (including staff salaries, CPF contributions, and supplier invoices). Contingent assets and liabilities must also have been addressed.
- Director authorisation — all or a majority of the directors must authorise the application.
Important: If the company has an outstanding tax credit (i.e. IRAS owes the company a refund), you should claim it before applying. Upon dissolution, any unclaimed tax credit is paid over to the Insolvency & Public Trustee’s Office (IPTO) and can only be recovered by shareholders through a separate application to IPTO, which typically charges a processing fee.
Before You Apply: Pre-Application Checklist
Preparing properly before submitting the application will save time and prevent your application from lapsing. Work through this checklist:
Step 1 — Obtain IRAS Tax Clearance
Contact IRAS to confirm there is no outstanding corporate income tax, and no outstanding GST (if your company was GST-registered). IRAS will send ACRA a notification if there are outstanding amounts, and ACRA will put your application on hold until these are resolved. If the company was GST-registered, it must also apply to cancel its GST registration before or at the time of the strike off application.
Step 2 — Settle CPF Contributions
If the company employed staff, ensure all outstanding CPF contributions (including any interest on arrears) have been paid to the CPF Board. Unpaid CPF is a liability that disqualifies the company from striking off.
Step 3 — Close All Bank Accounts and Distribute Remaining Funds
A company cannot have assets at the date of application. Close all corporate bank accounts, distribute any remaining cash to shareholders by way of a final dividend or return of capital (subject to solvency requirements), and ensure the bank confirms the accounts are closed.
Step 4 — Discharge All Charges
File a Satisfaction of Charge (Form 19) on BizFile+ for any outstanding registered charges. Obtain confirmation from lenders that security has been released.
Step 5 — Update BizFile+ Records
Update the company’s registered office address and contact email address on BizFile+. ACRA will send the striking off letter to the registered address, and any errors can cause delays or missed communications.
Step 6 — Obtain Director Authorisation
A majority of directors must authorise the person submitting the application (the applicant). If a corporate service provider (CSP) is submitting on behalf of the company, the CSP must confirm that a majority of directors have consented.
How to Apply for Strike Off via BizFile+
The application is made entirely online through BizFile+ using Singpass or Corppass. There is no filing fee for a voluntary strike off application.
- Log in to BizFile+ with your Singpass or Corppass credentials.
- Navigate to “Apply to strike off business entity” under the eServices menu.
- Complete the online form — you will be required to make a statutory declaration confirming the company meets the eligibility criteria.
- Submit the application. No supporting documents are required at this stage.
- The application will lapse if not endorsed by all/majority of directors within 14 days. Each director will receive a notification and must log in to BizFile+ to endorse the application.
If you are engaging a corporate secretarial service provider such as Raffles Corporate Services, the CSP can submit and manage the application on your behalf.
The Strike Off Process: What Happens After Your Application Is Approved
Approval of your application is not the same as your company being struck off. Here is what happens after ACRA approves the application:
| Stage | What Happens | Approximate Timeline |
|---|---|---|
| Application Submitted | Directors endorse within 14 days; ACRA reviews the application | Day 0–14 |
| Application Approved | ACRA sends striking off letter to the company, directors, company secretary, shareholders, IRAS, and CPF Board | Approximately 1–4 weeks after endorsement |
| First Gazette Notification | If no objection is received, ACRA publishes the company name in the Government Gazette | Shortly after approval |
| 60-Day Objection Period | Any interested party may lodge an objection via BizFile+ | 60 days from First Gazette |
| Final Gazette Notification | If no objection, ACRA publishes the Final Gazette and the company is struck off the register. The company ceases to exist as a legal entity. | After the 60-day period |
The entire process typically takes at least 3 months from the date of approval.
Objections to Strike Off: What You Need to Know
Any interested party — a creditor, employee, contractor, regulatory authority, or any person with a legitimate interest — may lodge an objection against the striking off application through BizFile+. There is no fee for lodging an objection. Objectors must provide supporting documents (e.g. invoices, court documents, outstanding contracts).
If ACRA approves the objection, it will notify the company. The company is then given 2 months to resolve the matter. If the issue is not resolved within 2 months and the objection is not cleared, the striking off application will lapse and a fresh application cannot be submitted until the objection has been cleared.
After Strike Off: What Directors Must Remember
- Record retention — Directors should retain financial records for at least 5 years after the company is struck off, in case of IRAS audit or any future claim.
- Personal liability — Striking off does not automatically release directors from personal liability if they made false declarations or if liabilities were concealed.
- Bona vacantia — Any assets that were not properly distributed before strike off vest in the Government as bona vacantia (ownerless property). If you discover an asset (e.g. an unclaimed bank balance) after the company is struck off, you will need to apply for restoration of the company to recover it.
Restoring a Struck-Off Company
If a company needs to be restored after being struck off — for example, to deal with bona vacantia assets, pursue or defend a legal claim, or because the striking off was done in error — it can be restored via a Court Order within 6 years of the date of striking off. The Court Order must be lodged on BizFile+ and there is no ACRA filing fee for the lodgement. Once restored, the company is treated as if it had never been struck off and must fulfil all outstanding statutory obligations including filing of Annual Returns.
Strike Off vs Voluntary Winding Up: Which Route Is Right for You?
| Factor | Voluntary Strike Off | Creditors’ Voluntary Winding Up (CVL) |
|---|---|---|
| Company has outstanding debts | Not eligible | Suitable |
| Company has assets to distribute | Must distribute first | Liquidator distributes |
| Cost | Free (no ACRA fee) | Liquidator fees apply (typically S$5,000–S$20,000+) |
| Timeline | 3–6 months | 6–18 months |
| Formal requirements | Minimal | Requires licensed insolvency practitioner |
| Best for | Inactive, debt-free companies | Companies with creditors or complex asset/liability positions |
Frequently Asked Questions
Can I strike off a company that still has employees?
No. All employment contracts must be terminated, all salaries and retrenchment benefits paid, and all outstanding CPF contributions settled before you can apply. MOM’s Employment Act and CPF Act obligations continue to apply right up to the date of application.
What happens if my company was GST-registered?
A GST-registered company must cancel its GST registration with IRAS before or concurrent with the striking off application. IRAS will typically conduct a final GST return audit covering the period from the last filed return to the date of cancellation. Ensure all GST returns are up to date before initiating the strike off.
Can I strike off a company that has a dormant bank account?
No. A dormant bank account with a remaining balance is still an “asset.” You must close all bank accounts and distribute any remaining funds before applying. Obtain a bank closure confirmation letter as evidence.
Is there a filing fee for striking off?
No. ACRA does not charge a fee for a voluntary striking off application submitted via BizFile+. However, if you engage a corporate secretary or CSP to handle the application, their professional fees will apply.
What if ACRA rejects my application?
ACRA may reject the application if the company does not meet the eligibility criteria (e.g. outstanding IRAS debt, unresolved charges). Resolve the outstanding issue and resubmit. ACRA may also initiate its own strike off under Section 344(1) of the Companies Act if it believes the company is inactive and not carrying on business.
How Raffles Corporate Services Can Help
Striking off a company sounds straightforward, but the pre-application preparation — especially clearing IRAS and CPF obligations, discharging charges, and distributing remaining assets correctly — is where most delays occur. Raffles Corporate Services handles the full process for you: reviewing your company’s eligibility, coordinating with IRAS and CPF Board, preparing the BizFile+ application, obtaining director endorsements, and monitoring the Gazette notifications through to final strike off.
For companies that are not eligible for striking off (e.g. those with outstanding debts), we can also refer you to experienced licensed insolvency practitioners for a CVL or court-supervised winding up. See our guides on Creditors’ Voluntary Winding Up and Court-Ordered Winding Up for more information.
To get started, contact us at [email protected] or call/WhatsApp +65 8501 7133.
Also see our Singapore Company Compliance Calendar and Annual Compliance Guide for Singapore Private Companies for a full picture of your obligations while the company is still live.
— The Editorial Team, Raffles Corporate Services