Short answer: ACRA charges nothing to apply for striking off, so a strike-off mainly costs the final accounts, tax returns and the time needed to clear them. A members’ voluntary winding up costs more: S$20 ACRA filings for the liquidator’s appointment, accounts and final return, Gazette and newspaper advertising, and the liquidator’s fees, all paid from the company’s assets.
The real difference between the two exit routes is the cost to close a company in Singapore and how long the company keeps costing money before it is dissolved. This article sets out the official fees, the cost drivers on each route, the time to dissolution and the costs that appear late. For the step-by-step process, follow the links to our separate guides.
Key facts at a glance
- ACRA’s “Apply to strike off business entity” eService is free, and withdrawing an application is also free.
- In a members’ voluntary winding up (MVL), the declaration of solvency and the notice of resolution are free to file; appointing a liquidator costs S$20, and each liquidator’s account and the final meeting return cost S$20 each.
- A strike-off takes at least three months after ACRA approval; an MVL company is dissolved three months after the liquidator lodges the final meeting return (section 180(6), Insolvency, Restructuring and Dissolution Act 2018 (IRDA)).
- IRAS does not issue tax clearance letters for strike-off or liquidation; tax returns must be filed and all tax paid first.
- Tax refunds owed to a dissolved company go to the Insolvency Office, which charges a fee to process a shareholder’s claim.
- Books and papers must be kept for at least 5 years after dissolution.
- From 20 October 2026, ACRA will publish striking-off Gazette notices sooner, as early as the same day the notice is sent for a voluntary strike-off.
Raffles Corporate Services works with a panel of experienced Singapore law firms who offer cost-effective and efficient legal service and advice. This article is general information only and is not legal advice.
What is the cost to close a company in Singapore?
Government fees are low on both routes; most of the cost is professional work on final accounts, tax returns and, for a winding up, a licensed liquidator. Striking off is cheaper because ACRA charges nothing and no liquidator is needed.
A members’ voluntary winding up (MVL) is the formal closure of a solvent company by a liquidator, who realises the assets and pays the surplus to shareholders. Striking off is the Registrar’s removal of the company’s name from the register. Our guide on choosing between striking off and winding up explains which companies qualify for each route.
| Cost item | Striking off | Members’ voluntary winding up |
|---|---|---|
| ACRA application or opening filings | Free | Declaration of solvency S$0; notice of resolution free; appointment of liquidator S$20 |
| Ongoing ACRA filings | None | S$20 for each liquidator’s account of receipts and payments |
| Closing ACRA filing | None (ACRA publishes the Gazette notices) | S$20 for the return relating to the final meeting |
| Liquidator’s remuneration | Not applicable | Fixed by the company in general meeting (section 164, IRDA) |
| Advertising | None | Final meeting notice in the Gazette and at least one English local daily newspaper (section 180(2), IRDA) |
| Final accounts and tax returns | Returns up to the cessation date | Financial statements and tax computations up to the liquidation date, then declarations of receipts and payments |
What does ACRA charge to strike off a company?
Nothing. ACRA lists the fee for its striking off application as free, and the application needs no supporting documents. Approval is immediate, or within 14 days if directors must endorse it.
The free filing is only the last step. The company must first have stopped trading, cleared all debts and government matters, and own nothing and owe nothing. Getting there is where the money goes: collecting receivables, paying final bills and filing outstanding returns. Our walkthrough of how to apply to strike off a Singapore company covers the filing itself, and the free Striking Off Eligibility Checker shows what is blocking an application before you pay anyone.
What does a members’ voluntary winding up cost in official fees?
The ACRA fees for an MVL are small: S$20 to appoint the liquidator, S$20 for each liquidator’s account, and S$20 for the final meeting return. The real costs are the liquidator’s fees, advertising and the accounting work, all paid from the company’s assets before shareholders receive anything.
| ACRA filing | Fee |
|---|---|
| Declaration of solvency (with statement of affairs) | S$0 |
| Notice of resolution for voluntary winding up | Free |
| Appointment of liquidator or provisional liquidator | S$20 |
| Liquidator’s account of receipts and payments and statement of position (each filing) | S$20 |
| Return by liquidator relating to final meeting | S$20 |
The cost drivers that matter more are set by the IRDA:
- Liquidator’s remuneration. The company in general meeting appoints the liquidator and may fix the liquidator’s pay (section 164(1)); a member, creditor or the liquidator may ask the Court to review it (section 175). ACRA’s filing asks for the liquidator’s Insolvency Practitioner Licence Number.
- Costs come out of the company. All proper winding-up costs, including the liquidator’s remuneration, are paid from the company’s assets (section 183), so they reduce what shareholders receive.
- Advertising. The final meeting must be advertised in the Gazette and at least one English local daily newspaper at least 30 days ahead (section 180(2)).
- Estimated expenses up front. The statement of affairs attached to the declaration of solvency must show the estimated expenses of the winding up (section 163(2)(c)).
For the full MVL sequence, see our guide on closing a solvent company by members’ voluntary winding up.
Do you need final accounts and a tax clearance to close?
You need final tax filings but not a tax clearance letter. IRAS does not issue tax clearance letters for strike-off or for companies in liquidation. Instead, the company’s tax returns must be filed and all tax settled, which you show with the latest Notice of Assessment and Statement of Account from myTax.
For a strike-off, IRAS treats tax as settled when all Corporate Income Tax Returns (Form C-S, Form C-S (Lite) or Form C) are filed up to the date the business stopped, assessments are finalised, any tax and penalties are paid, and GST registration is cancelled. A company filing Form C must also submit financial statements and tax computations, which from 1 August 2026 IRAS accepts only through myTax. If the cessation date falls in a Year of Assessment whose return is not yet available, the company has 21 days to file after applying through IRAS’s waiver service. If IRAS objects to a strike-off because of unpaid or unfiled tax and the objection is not resolved within 2 months, the application lapses and you have to apply again.
In an MVL, the tax work runs longer. Under section 59 of the Income Tax Act 1947, the liquidator is responsible for the company’s tax affairs and must not distribute assets to shareholders without providing for tax. The liquidator files financial statements and tax computations up to the liquidation date, then a Declaration of Receipts and Payments every year if the company has receipts (once every 4 years if it has none), and final financial statements after the final meeting.
For reference, the Raffles Corporate Services packages page lists unaudited financial statements from S$550 for existing clients (from S$650 for others), Form C-S filing from S$350 and Form C filing from S$700.
How long does each route take to reach dissolution?
A strike-off takes at least three months after ACRA approves the application. An MVL usually takes longer, because the liquidator must realise assets, file tax declarations and call a final meeting, and the company is dissolved only three months after the final return is lodged.
Time is a cost in itself: if a strike-off fails, ACRA says the company stays live and must continue to meet its compliance requirements. Our explainer on what ACRA’s striking off Gazette dates mean covers the notices themselves.
| Stage | Striking off | Members’ voluntary winding up |
|---|---|---|
| Before filing | Tax returns filed and tax paid; directors endorse within 14 days | Declaration of solvency made within 5 weeks before the winding-up resolution (section 163(3)) |
| Middle | First Gazette within 30 days of approval, then a 60-day window for objections | Debts paid within the period declared, not more than 12 months (section 163(1)); IRAS declarations yearly or every 4 years |
| Closing | Final Gazette; dissolved when the notice is published (section 344(4), Companies Act 1967) | Final meeting advertised at least 30 days ahead; return lodged within 7 days after the meeting; dissolved 3 months after lodgement (section 180) |
| Delays to budget for | Objections: 2 months to resolve or the application lapses | IRAS generally takes 3 months to review tax matters after the last declaration |
From 20 October 2026, under the second phase of the Corporate and Accounting Laws (Amendment) Act 2025, ACRA says Gazette notices for a voluntary strike-off may be published as early as the same day the notice is sent, and an entity will be dissolved at the date and time the Registrar strikes its name off. Until then, the current timeline applies.
What hidden costs come with closing a company?
The costs that surprise owners are mostly money left behind: refunds, deposits and assets that were never collected before dissolution. Recovering them afterwards costs more than dealing with them first.
- Tax refunds and closed bank accounts. If the bank account is closed while IRAS owes the company a refund, IRAS cannot pay it to a director or shareholder. On dissolution it goes to the Insolvency Office, which charges shareholders to process a claim.
- Deposits and receivables. Rental, utility and supplier deposits are company assets. A company applying to strike off must own nothing, so recover them first.
- Unclaimed money in an MVL. Unclaimed or undistributed money must be paid to the Official Receiver for the Companies Liquidation Account after notice and a 30-day wait (section 197, IRDA).
- Property left in a dissolved company. Outstanding property that was never collected vests in the Official Receiver (section 213, IRDA), who may sell it and take a prescribed commission (section 214). This is often called bona vacantia: property with no owner left to claim it.
- Records. Books and papers must be kept for at least 5 years after dissolution, a duty that also falls on former officers. Download IRAS notices first, because myTax access ends on dissolution.
- Reversing a mistake. A struck-off company can be restored only by Court order within six years (section 344(5), Companies Act 1967), and officers’ and members’ liabilities continue after a strike-off (section 344(4)(a)).
Our checklist of the loose ends to tie up when closing a Singapore company goes through these items one by one, and our guide on recovering company assets after striking off explains what happens if something is missed.
Which route is cheaper for your company?
Striking off is cheaper for a company that has stopped trading, has paid everything and has little or nothing left to distribute. An MVL is worth its higher cost when there are assets, retained profits or contracts that a liquidator needs to deal with in a formal, documented process.
A practical way to compare the two routes:
- List what the company still owns and owes, including tax.
- Count the periods that still need financial statements and tax returns.
- If assets remain after paying everything, compare a liquidator’s quote with what shareholders will receive.
- Add the ACRA fees above, plus advertising for an MVL.
For reference, the Raffles Corporate Services packages page lists striking off of a company from S$300 for existing clients (from S$500 for others) and winding-up support from S$600 for existing clients (from S$800 for others), depending on complexity and the number of filings. A licensed liquidator’s own fees are separate. Our sister site lists the common mistakes and rejection reasons in striking off and MVL, which are the usual source of unplanned cost.
Official sources: ACRA, Striking off a local company; IRAS, Companies applying for strike off; Insolvency, Restructuring and Dissolution Act 2018.
Frequently asked questions
Is it free to strike off a company in Singapore?
The ACRA application is free, and so is withdrawing it. You still pay for whatever it takes to meet the criteria, mainly final accounts, tax returns and settling all debts.
How much are ACRA’s fees for a members’ voluntary winding up?
The declaration of solvency and the notice of resolution are free. Appointing the liquidator costs S$20, and each liquidator’s account and the final meeting return cost S$20 each. The liquidator’s fees and advertising cost far more than these.
Do I need an IRAS tax clearance letter before closing my company?
No. IRAS does not issue one for strike-off or liquidation. You file all returns, pay all tax and keep the latest Notice of Assessment and Statement of Account from myTax as proof.
What happens to money left in a dissolved company?
A tax refund goes to the Insolvency Office, and shareholders pay a processing charge to claim it. Other outstanding property vests in the Official Receiver under section 213 of the IRDA, and unclaimed liquidation money is paid to the Companies Liquidation Account.
Will the 20 October 2026 changes make striking off cheaper?
The ACRA fee is already nil. From 20 October 2026, Gazette notices can be published sooner, but the cost of final accounts and tax filings does not change.
Need help with this? Call, SMS or WhatsApp +65 8501 7133, or email [email protected]. Raffles Corporate Services works with a panel of corporate and employment law firms; this article is general information, not legal advice.
Last reviewed: 11 October 2026. The Editorial Team, Raffles Corporate Services.