There are two ways to close down a company -- either by winding up or striking off. The requirements and process are different for each mode of closure.  Read more.

Striking off is the most common mode of closure.  However, a company must meet the stringent conditions for a strike-off.  If the conditions are met, the company may apply to The Accounting and Corporate Regulatory Authority (ACRA) to strike off its name from the Register. Approval is at ACRA’s sole discretion.

The process of striking off can be complex and time consuming, especially in ensuring all legal obligations and requirements are met. 

Another common mode of closure is to vide a Members’ Voluntary Winding Up.

Under this arrangement, a company may decide to wind up its affairs voluntarily if the directors believe that the company will be able to pay its debts, in full, within 12 months after the commencement of the winding up. The company will then appoint a liquidator, or provisional liquidator, to wind up its affairs and file the necessary returns with the relevant authorities.

What we offer

At CorpServe, we provide professional advice and assistance to assess which is the best mode of closure for your business, whilst ensuring the company and its stakeholders’ interests are protected. We have the expertise to guide you through the entire closing process–from the beginning to the completion of the closure of your company–with the following services:

Assess effective method of closure

Assess the most effective method of closure

Final set of accounts for closure

Draft final set of accounts for closure

Obtain necessary tax clearance

Obtain necessary tax clearance

Prepare corporate documents

Prepare corporate documents

Submit application to authorities

Submit application to the various authorities, liaison work, etc.