The Singapore Companies Act allows ACRA to strike a company off the Register if there is a reason to believe that a company has ceased operation or has fulfilled certain conditions.
Conditions for Striking Off
The ACRA will strike a company off the Register only if the company can meet the following conditions:
* The company has ceased operation;
* The company is not and will not be involved in any court proceedings, whether in or outside Singapore;
* The company has no assets and liabilities;
* The company has no outstanding penalties or offers of composition owing to ACRA and not indebted to other government departments; the company has no outstanding tax liabilities owing to the Inland Revenue Authority of Singapore (“IRAS”);
* The company has no outstanding charges in its charge register eg. no mortgages etc.;
* None of the officers of the company have outstanding ACRA summonses.
Read more about Singapore Company Striking Off / Deregistration at Rikvin.com.
