Criteria to Strike Off a Company

Striking off Criteria

1. The company must have ceased trading or not commenced business from the date of incorporation.

2. The company must not have any outstanding tax liabilities with IRAS. ACRA does not require the company to produce a tax clearance letter from IRAS. Please refer to IRAS website for a checklist on things to do before applying for striking off.

3. The company must not be indebted to any other government agency.

4. The company must not have any outstanding charges in the company’s charge register.

5. The company must not be involved in any court proceedings (within or outside Singapore).

6. The director(s) must obtain the written consent of the majority of the shareholders.

7. The company must not have any current/contingent assets and liabilities.

8. The accounts attached must be drawn up till the date of cessation indicated in the application (if any).

9. Company Limited by Guarantee must submit the last set of audited accounts.

Other requirements to fulfill before striking off a company

• Company has been dormant since incorporation
  

The applicant is required to submit a covering letter stating that the company had:-

(a) No business transaction since incorporation
(b) Not opened a bank accounts or the bank account has been closed
(c) Not held an AGM or the first AGM to be held within 18 months from the date of incorporation is not due

• Company has submitted its last audited accounts before 15 May 2003
  

The financial accounts should be unqualified and should have no assets and liabilities.

However, if the accounts are:-

(a) Qualified with no assets and liabilities, applicant is required to submit a letter of undertaking from the respective auditor to remove its qualification.
(b) Unqualified with assets and liabilities, applicant has to submit documentary evidence for the disposal or settlement of assets and liabilities.

• Company has submitted its last unaudited accounts after 15 May 2003

The financial accounts should have no assets and liabilities.

However, if the accounts consist of assets & liabilities, applicant has to submit documentary evidence for the disposal or settlement of assets and liabilities. The accounts have to be certified by the directors.