Closing your business operations is a major decision. However, the process does not end when you stop selling. Specifically, if you do not officially strike off a company, it remains a legal entity. Consequently, you risk heavy fines for missing ACRA and IRAS deadlines. To achieve a clean, legal exit, you must follow the formal dissolution process.

Mandatory Requirements to Strike Off a Company

Before you apply to ACRA, your business must be “clean.” You cannot successfully strike off a company if it still has active financial ties. Therefore, you must pass two mandatory checks:

  • Zero Financials: The company must have no remaining assets and no outstanding debts.

  • Government Clearance: You must settle all tax debts with IRAS. Furthermore, you must pay all CPF contributions for your employees.

The Official Timeline to Strike Off a Company

At Acrafile, we handle the complex preparation to ensure your exit is seamless. Specifically, we manage your final accounts. We also ensure you clear all tax duties before we submit your application via BizFile+.

Once we submit the application, the official dissolution timeline begins. Generally, this process takes at least four months.

Navigating the Gazette When You Strike Off a Company

Why does it take four months to strike off a company from the register? First, ACRA approves your request. Then, they publish your company name in the Government Gazette. This step triggers a mandatory 60-day public objection period.

During this time, creditors or shareholders can object to the dissolution. Furthermore, government agencies like IRAS may stop the process if they find hidden debts.

Avoiding Delays and Rejected Applications

The biggest risk to your timeline is a formal objection. For example, if IRAS objects due to a tax error, your application stops. Consequently, you only have two months to fix the issue. If you fail to act, your application expires. Then, you must restart the entire process from scratch.

Fortunately, we manage this window for you. We talk to the authorities to prevent delays. Specifically, we ensure you clear any objections quickly.

Final Dissolution: Why Strike Off a Company with Experts?

Once the 60-day objection period clears without issue, ACRA publishes the final notification in the Gazette. At this point, your company is legally dissolved.

When you choose a professional partner to strike off a company, you avoid administrative stress. You also ensure you never face “zombie company” fines. Therefore, you can move on to your next venture with total peace of mind.

Ready for a clean exit? Contact Acrafile today for a free consultation!