By KYN AI Advisory Team — AI implementation specialists, Singapore
To close a solvent Singapore company, you settle every tax matter with IRAS, then apply to ACRA to strike it off. ACRA's application fee is free. For applications made on or after 20 October 2026, the process takes at least 2 months after ACRA approves, if nobody objects. Before that date it took at least 3 months. The company must own nothing and owe nothing. The cost that remains is professional help, which you can avoid if the company is simple and the directors file themselves.
What does ACRA require before you can strike off?
ACRA's page on striking off a local company sets out the criteria. All must be met.
- The company has stopped trading or never started business.
- It has no unpaid debts or unresolved issues with any government agency.
- There are no charges (loans) on the charge register.
- It is not involved in legal cases in Singapore or overseas.
- It is not subject to regulatory action or disciplinary proceedings.
- It owns nothing and owes nothing.
- All directors, or a majority, agree to the striking off.
ACRA warns that applying without meeting these criteria can be treated as a false declaration. Do not file to "see what happens". If the company has assets, sell or distribute them first. If it has debts, pay them. If it cannot pay them, strike off is the wrong route and you need a formal winding up with a liquidator. Take legal advice in that case.
This route is for a solvent, dormant company. It is not a way to leave creditors behind.
What must you settle with IRAS first?
IRAS requires tax to be settled before the ACRA application. Its page on companies applying for strike-off states that companies are required to settle all outstanding tax liabilities and obligations with IRAS before applying. Otherwise IRAS will object and the application takes longer. If the objection is not resolved within 2 months, you must submit a new ACRA application once IRAS clears it.
The IRAS checklist:
- File all corporate income tax returns (Form C-S, Form C-S (Lite) or Form C) up to the business cessation date. Form C filers also submit financial statements and tax computations.
- Handle an advance year of assessment. If the cessation date falls in a year whose return is not yet available, apply for a waiver first. You then have 21 days from the waiver application date to file that return.
- Cancel GST registration if registered, and clear all GST matters.
- Resolve queries and pay. Assessments must be final and any tax and penalties paid.
Use the cessation date in the company's records consistently across the accounts, the IRAS filing and the ACRA application. A mismatch is the most common cause of a query.
What are the steps to apply to ACRA?
ACRA lists the preparation steps, then the filing.
- Check the striking off criteria.
- Check for outstanding tax credits.
- Update the registered office address and company email if needed.
- Resolve any ongoing court summons.
- Prepare the company UEN and the cessation date, if applicable.
- If a corporate service provider files, make sure most directors have consented.
Then a director or other officer logs in to Bizfile through Corppass and completes the "Apply to strike off business entity" eService. Other position holders must endorse within 14 days, or the application lapses.
Note on tax credits: ACRA states that outstanding tax credits transfer to the Insolvency and Public Trustee's Office on dissolution. Shareholders may claim them there for a fee. Settle any credits before you file if you can.
How long does it take?
The timeline changed in October 2026. ACRA's page gives two paths.
| Application date | Objection period | Minimum time after ACRA approval | |---|---|---| | On or after 20 October 2026 | 60 days from the First Gazette notice, for officers and interested parties | At least 2 months, if no one objects | | Before 20 October 2026 | 30 days from the striking off letter for officers; 60-day wait after the First Gazette for interested parties | At least 3 months, depending on objections |
After the waiting period the company is "Gazetted to be Struck Off", then a Final Gazette notice is published and the status becomes "Struck Off". If an objection is accepted, the company has two months to resolve it, or the process lapses.
These periods start after ACRA approves. Add the time to prepare accounts, file returns, resolve IRAS queries and obtain director consent. A company with open tax queries takes longer than one with clean filings.
What does it cost?
ACRA states that the fee for the application is free. Your costs are:
- Accounting. Final management accounts and any outstanding financial statements and tax returns up to cessation.
- Filing help, if you use a corporate service provider. Quotes differ by firm. Get a fixed fee and ask what happens if IRAS or ACRA raises an objection.
- Bank and other closures. Cancel the bank account after the dissolution timeline, not before the final tax payments clear.
- Records. Records may need to be kept after closure. Confirm the retention period with your adviser and your accounting system provider.
No regulator publishes a "closure cost", so this article does not state one. A director who files directly and has clean accounts pays no ACRA fee.
Should you close the company or keep it dormant?
Keeping a dormant company has recurring costs: annual filings, an accounting record, a registered address and a company secretary. Closing ends those. Reasons to keep it include a brand name you want to hold, a licence that is hard to regain, or a plan to trade again.
A rough test: if you have not traded for twelve months and have no plan to, compare the annual filing costs with the one-off cost of closing. Closing usually wins for a company with no future use.
What mistakes delay a strike off?
- Untouched GST registration. An active GST registration with returns outstanding blocks the process.
- Unfiled returns. A single outstanding return up to the cessation date is enough for IRAS to object.
- Charges on the register. A forgotten bank charge keeps the company ineligible.
- Director consent. If a corporate service provider files, most directors must have consented, and other position holders must endorse within 14 days.
- Assets left on the books. A balance in the bank or an intercompany loan contradicts "owns nothing and owes nothing".
Where KYN fits
KYN builds finance systems in your own cloud account. For a company winding down, the useful pieces are a ledger that reconciles to the bank, a list of open obligations by agency, and a checklist with an owner for each step. Filings and deletions wait for a named person, and every action is logged with the actor. KYN does not file with ACRA or IRAS and does not give legal advice.
The first 14 days are a review of your stack and interviews with your team. A full build ships in under 90 days. See finance systems and infrastructure.
Frequently asked questions
Is there an ACRA fee to strike off a Singapore company?
ACRA lists the fee for the "Apply to strike off business entity" eService as free. You may still pay a service provider, accountant or lawyer for the work around it.
Can I strike off a company that still owes tax?
No. IRAS requires companies to settle all outstanding tax liabilities and obligations before applying. If you apply with tax outstanding, IRAS will object and the application takes longer.
What if a director cannot be reached?
ACRA requires all directors, or a majority, to agree to the striking off. A majority is enough, and other position holders must endorse within 14 days or the application lapses. If you cannot reach a majority, take legal advice on the alternatives.
Checked 30 October 2026.
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