Strike Off Company Services Fees @ SGD $385 only
Closing a Company in Singapore
$385 nett one time flat fee (inclusive of all government filing fees)
Above Strike off Package are Inclusive of:
- Preparation of ALL documentations needed by ACRA for Company Strike Off
- Apply and File for Striking Off with ACRA (inclusive of all government filing fees)
- Handling of inquires from ACRA and IRAS on your behalf
- Closely follow up with you till the company is striked off
Except for the following to be prepared by the Accountant:
- Final Tax Clearance for Striking Off Company – Add on @ $200 only
- Final Set of Tax Computation, supporting Tax Schedules and Form C/C-S – Add on @ $400 only
- Final Set of Accounts for Striking Off – Add on @ $400 only
- Bookkeeping & Accounting – Add on @ $100 only per 25 transactions
- Resolution and Letter for DBS Bank Closure – Add on @ $50 only
- De-Registration of GST – Add on @ $300 only
- Being Named Company Secretary (Till struck off) – Add on @ $300 only
- Providing with Registered Office Address (Till struck off) – Add on @ $150 only
- Provision of Nominee Director Services (Till struck off) – Add on @ From $1250 onwards + $1,500 Refundable Security Deposit
Singapore Company Striking Off Service offered by J Accounting
In Singapore, professional accounting firms such as J Accounting Service offer the services of closing and striking off companies. This in addition to other areas of services provided such as accounting services, bookkeeping and auditing, among others. They make the process of striking off easier for your company as J Accounting provides you with a one size fits all approach.
Also, did you know that your company needs to make an application to ACRA, upon which the strike off may be approved if the company is believed not to be carrying on business? Your company should also satisfy the criteria of striking off. With J Accounting Services, you can have the peace of mind where the application for striking off can be made on your behalf by professional firm like J Accounting.
Company Closing And Company Strike Off In Singapore
It comes a time when the life of a company comes to end. How this happens depends on the type of company and the circumstances leading to the closure. Once a company is to be closed, its name needs to be removed from the books of the registrar, commonly, this is what is known as strike off.
There are many benefits of a company striking off. If a company is inactive, it is better for it to be struck off than to be ignored. If ignored, it is still legally liable to file annual tax returns and to submit accounts to IRAS. Failure to submit attracts penalties.
Strike off is cheaper and fast and therefore a better option for the company. Despite that, not all companies are eligible for strike off. Some companies especially the ones that are insolvent should be wound up and not strike off.
Requirements for a company to strike off
The company to be striked off has to met all the following conditions:
- The company has stopped all business transactions. It should not be continuing in business if it wants to be closed or struck off.
- There are no legal suits and court matters in relation to the company. It should have settled all the cases if it has any in the courts.
- The company has no assets and liabilities when applying for strike off. All the liabilities should have settled and the assets disposed off.
- The company should have cleared with the Inland Revenue Authority of Singapore (“IRAS”), Accounting and Corporate Regulatory Authority of Singapore (“ACRA”) and other government agencies in terms of dues and fines. All the taxes should have been cleared.
- Director(s) of the company and the secretary should not have pending summons with the ACRA.
- The company should ensure that the Bizfile records are current and updated.
- The shareholders of the company should have given the go ahead to the striking off of the company.
- The company should have cancelled the business licenses and closed off its bank accounts.
If even one of the above requirements has not been met, the company cannot strike off. Its only option is to be wound up or liquidated.
Upon striking off, ACRA will send a strike off notice to the company registered office address or to the directors or the secretary of the company.
ACRA publishes the name of company in the Government Gazette after one month. If there is no objection after 3 months, the company is struck off the register. Generally, the whole process of striking off a company takes about 6 months from the time of application.