- Two routes close a Singapore company: voluntary striking off for a clean, debt-free company, and winding up or liquidation when assets or debts remain.
- ACRA charges no fee to apply for striking off, but the company must owe nothing, own nothing, and have every filing and tax matter settled first.
- Striking off runs at least three to four months through the gazette process, while winding up is longer and needs a licensed liquidator.
Deciding to close a company in Singapore comes down to one question: does the business still owe money or hold assets? If it does not, voluntary striking off is the faster, cheaper route. If it does, winding up (also called liquidation) is the formal process the law requires. Either way, tax clearance and final filings must be settled before the company can leave ACRA’s register. Because the declarations sit with a company officer, many owners lean on a corporate secretary to lodge the closure correctly. This guide covers both routes, who qualifies, the steps and timelines, and what you must tidy up first.
Closing a Singapore company at a glance
Question | Short answer |
The two routes | Voluntary striking off (deregistration) or winding up (liquidation). |
Which fits me? | No assets, no debts, filings current: strike off. Assets or debts to deal with: wind up. |
ACRA fee | Striking off application is free on Bizfile. Winding up carries liquidator and court costs. |
Timeline | Striking off takes at least three to four months. Winding up is longer and case-dependent. |
Settle first | Tax clearance with IRAS, final accounts, outstanding filings, and closing the bank account. |
Reversible? | A struck-off company can be restored within six years by a Court Order. |
How do you close a company in Singapore?
There are two main ways to close a Singapore company: voluntary striking off, available to a simple company with no assets, liabilities or outstanding filings, and winding up (liquidation), used when the company has assets or liabilities to deal with. Either way, tax clearance and final filings must be settled first.
Striking off is deregistration: a company officer asks ACRA to remove the company’s name from the register under section 344A of the Companies Act, and once the process finishes, the company is dissolved. Winding up is a formal, supervised wind down that converts assets to cash, pays creditors in order, and only then dissolves the company. Most dormant or ceased Pte Ltd companies with a flat balance sheet take the striking off route, which is what applying to ACRA to strike off is designed for.
Striking off vs winding up: Which route applies to you?
The right route depends on your company’s assets, debts and solvency, not on preference. Striking off suits a company that has genuinely wrapped up: nothing owned, nothing owed, no live disputes. Winding up is the honest answer whenever real assets need distributing, or debts need settling, whether the company is solvent or insolvent. The table below sets the two side by side.
|
Aspect |
Voluntary striking off |
Winding up (liquidation) |
|
When it applies |
Dormant or ceased company with no assets and no liabilities. |
Company still holds assets or owes debts, solvent or insolvent. |
|
Eligibility |
Strict: owns nothing, owes nothing, filings current, no live proceedings. |
Broader: available where debts or assets remain to be dealt with. |
|
Cost |
ACRA application is free; main cost is tidying filings and any adviser fee. |
Higher: licensed liquidator fees plus any court costs. |
|
Time |
At least three to four months through the gazette process. |
Longer and case dependent, often many months. |
|
Complexity |
Low: an online application on Bizfile, no supporting documents needed. |
High: liquidator appointment, statutory meetings and notifications. |
|
Best for |
Small, dormant or non-trading Pte Ltd companies. |
Companies with creditors, assets or shareholder disputes. |
Are you eligible to strike off?
You can strike off only if the company owns nothing and owes nothing. ACRA approves a striking off application when it is satisfied the company is not carrying on business and meets every criterion. In practice, the balance sheet must be flat, and there can be no loose ends with any government agency.
ACRA’s striking off criteria are that the company:
- Has stopped trading, or never started business since incorporation.
- Has no unpaid debts or unresolved issues with any government agency, including IRAS, the CPF Board and MOM.
- Has no loans (charges) sitting in the charge register.
- Is not involved in any legal proceedings in Singapore or overseas.
- Is not subject to any ongoing or pending regulatory or disciplinary action.
- Owns nothing and owes nothing, with no property, debts or potential future claims.
- Has the agreement of all, or a majority, of its directors to the striking off.
You do not need to prepare supporting documents to apply, but you should confirm the company has no outstanding tax credits, since any credits transfer to the Insolvency and Public Trustee’s Office once the company is dissolved. Before you file, it also helps to have the final accounts in order so the declaration is accurate. The full criteria are on ACRA’s striking off page.
What are the steps and timeline for striking off?
Striking off follows a fixed statutory path, and once ACRA approves the application, the process takes at least three months. A director, the company secretary, or an appointed corporate service provider files the application. The steps run as follows:
- Confirm the company meets every striking off criterion, since a false declaration can trigger an investigation.
- Log in to Bizfile with Corppass and submit the free “Apply to strike off business entity” application.
- Where there are other position holders, all or most directors endorse the application within 14 days, or it lapses.
- ACRA reviews the application and, if it is in order, sends a striking off letter to the registered office and to officers’ residential addresses.
- Company officers have 30 days from that letter to object; ACRA then publishes the First Gazette Notification.
- A 60-day waiting period runs for interested parties to object. If none succeed, ACRA publishes the Final Gazette Notification and the company is struck off on the stated date.
Delays almost always come from outstanding tax filings, a live bank account, or unresolved CPF contributions, so tidying these before you apply keeps the three to four month estimate realistic. If circumstances change, you can withdraw the application at any time before the Final Gazette Notification.
Do not close the company's bank account until every outstanding matter is settled, and keep the company's books and records for at least five years after dissolution. Sleek's corporate secretary team can time these steps so nothing stalls the gazette process.
How does winding up work?
Winding up is the formal route for a company that has debts to settle or assets to distribute. It appoints a liquidator to convert assets to cash, pay creditors in the order the law sets, distribute any surplus, and then dissolve the company. Winding up is governed by the Companies Act 1967 and the Insolvency, Restructuring and Dissolution Act 2018 (IRDA), and ACRA now recognises four routes:
- Members’ voluntary winding up: chosen when the directors can declare the company will pay its debts in full within 12 months.
- Simplified Winding Up Programme (SWUP): a simplified creditors’ process for a micro company (revenue under S$1 million) or small company (revenue under S$10 million) that cannot pay its debts.
- Creditors’ voluntary winding up: used when the directors accept the company cannot continue because of its debts.
- Court-ordered compulsory winding up: ordered by the Court, for example when the company cannot pay its debts, often on a creditor’s application.
Each route requires a liquidator (or provisional liquidator) and a series of statutory notifications lodged with ACRA, so the timeline is longer and the cost higher than striking off. The four routes and the forms involved are set out on ACRA’s winding up page.
What must you settle before you close?
Whichever route you take, a short list of loose ends must be closed off first, and tax is usually the one that holds people up. Work through these before you file:
- Tax clearance with IRAS. Bring corporate tax up to date and clear any balance; settling tax before you close is what most often delays a strike off.
- GST deregistration, if the company is registered, along with any final GST return.
- CPF contributions for any employees, fully paid up with no outstanding amounts.
- Final accounts prepared to the date the company ceased business, so the declarations are accurate.
- Outstanding annual returns and other ACRA filings brought current.
- The company bank account, closed only after every other matter is settled.
Getting the accounting tidy is the single biggest factor in a clean, on-time closure, and it is worth confirming there are no future claims that could reopen the company later.
Should you keep the company dormant instead?
If there is any chance you will trade again, keeping the company dormant can be a better move than closing it outright. A dormant company stays on the register and keeps its name, incorporation date and track record, but files reduced returns while it is inactive. That preserves the option to restart quickly without incorporating from scratch.
The trade-off is ongoing compliance: even a dormant Pte Ltd must meet ACRA and IRAS obligations, so there is still an annual cost. Weigh that against the finality of closure, and if the pause looks temporary, keeping it dormant instead of closing is often the more flexible choice.
How Sleek helps you close your company correctly
Closing a company cleanly is mostly about sequence: settle tax and filings, prepare the final accounts, then lodge the right application in the right order. Sleek handles that end-to-end, from closing off the books to bringing filings up to date first, and lodging the striking off or coordinating a liquidator so nothing stalls the process. If you are not sure which route fits, a specialist can qualify your company in one conversation.
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FAQs on how to close a company in Singapore
What is the difference between striking off and winding up?
Striking off is a simple deregistration for a company with no assets, no debts and no live proceedings, and it removes the company from ACRA’s register under section 344A of the Companies Act. Winding up is a formal, liquidator-led process used when assets must be distributed, or debts settled, and it can apply whether the company is solvent or insolvent.
How long does striking off take?
ACRA states the process takes at least three months after it approves the application, and in practice most cases run three to four months. That covers the review, a 30-day officer objection window, the First Gazette Notification, a 60-day objection period, and the Final Gazette Notification. Outstanding tax or filings are the usual cause of longer timelines.
Can I reopen a company after it has been struck off?
Yes, within limits. A struck-off company can be restored by obtaining a Court Order, and you can apply for restoration within six years of the strike-off. Once ACRA processes the Court Order filed on Bizfile, the company’s status returns to “Live”. Restoration is more involved than the original strike off, so keeping the company dormant is usually simpler if you expect to trade again.
How much does it cost to close a company in Singapore?
The ACRA striking off application itself is free on Bizfile. The real cost is tidying up: final accounts, tax clearance and any adviser fee to lodge it correctly. Winding up costs more because it requires a licensed liquidator, and court-ordered winding up adds legal costs on top.
Can I strike off a company with outstanding annual returns?
Yes, provided every striking off criterion is met. ACRA confirms you may apply even with outstanding annual returns as long as there is no court summons, and the company otherwise qualifies. Monitor the application through to the Final Gazette Notification, because if the strike off fails, the company stays “Live” and its full compliance obligations continue.
