Is your Singapore company dormant? Are you paying annual secretarial and director fees for a business entity that is no longer active?

As we approach 2026, many business owners choose to Strike Off (close) their unused companies to save on maintenance costs.

However, closing a Singapore company is not as simple as “just walking away.” ACRA (Accounting and Corporate Regulatory Authority) has strict conditions that must be met. If you abandon a company without officially striking it off, directors can face disqualification and fines.

In this guide, we explain the step-by-step process to strike off a Singapore company and how to ensure you are debt-free before you apply.

1. Striking Off vs. Winding Up: What’s the Difference?

Before you start, you must choose the right method.

Striking Off (The Fast Way)

This is for solvent companies (companies that can pay all their debts) that are no longer in business.

  • Cost: Low.

  • Timeline: Approx. 4–5 months.

  • Best For: Dormant companies, small businesses with no liabilities.

Winding Up / Liquidation (The Formal Way)

This is required if your company is insolvent (cannot pay debts) or involved in a complex dispute.

  • Cost: High (requires a Liquidator).

  • Timeline: Can take 12+ months.

Note: Most small business owners searching for “closing a company” are looking for Striking Off.

2. The 3 Pre-Requisites for Striking Off

ACRA will reject your application immediately if you do not meet these criteria. Ensure you have checked these boxes:

  1. Ceased Trading: The company must not be doing business or carrying stock.

  2. No Assets or Liabilities: You must have cleared out the bank account (balance should be $0) and paid all vendors.

  3. No Outstanding Taxes: This is the most common reason for rejection. You must have “Tax Clearance” from IRAS.

Pro Tip: Even if you have no income, you must file your Form C-S and GST Cancelation before IRAS will give the green light.

3. The “Tax Clearance” Letter

You cannot just assume you owe nothing.

  • If you were GST-registered, you must apply for cancellation.

  • You must answer any outstanding queries from IRAS.

  • Once cleared, IRAS will issue a “No Objection” letter. Without this, ACRA cannot process the strike off.

4. The Timeline: How Long Does It Take?

Many directors are surprised that they cannot close the company “overnight.” The process involves a mandatory public notification period.

  • Step 1: Application Submission. (We submit this via BizFile+).

  • Step 2: The “Gazette Notification.” If approved, ACRA publishes the name in the Government Gazette.

  • Step 3: 60-Day Objection Period. The public (creditors) has 60 days to object.

  • Step 4: Final Gazette. If no one objects, the company is struck off 3 months after the First Gazette.

Total Duration: Minimum 4 to 5 months.

5. Can I Just “Abandon” the Company?

Absolutely not. Some directors think, “If I stop paying the secretary and ignore ACRA, they will close it for me.”

This is dangerous. ACRA may eventually strike off the company for non-compliance, but:

  1. The Directors may be disqualified from managing other companies in the future.

  2. You may face composition fines for failing to hold AGMs or file Annual Returns during the “abandoned” period.

Conclusion: Close It Cleanly

If you have a dormant entity, the most cost-effective move is to strike it off properly before the new financial year begins. This saves you from paying another year of Company Secretary and Nominee Director fees.

At Excellence Singapore, we handle the full closure process—from drafting the Director’s Resolution to obtaining Tax Clearance and submitting the final ACRA application.

Ready to close your dormant company? Contact us to start the Strike Off process today.