Dissolution

Winding up vs Striking off

There are 2 ways to close down a company in Singapore – Winding up and striking off.

Winding up a company involves the appointment of a liquidator to manage the entire liquidation process. Once the company is liquidated, aggrieved party cannot apply to the Court to reinstate the company's name. For a company that is struck off the companies' registry, aggrieved party can apply to the Court within 6 years to have the company’s name restored.

In spite of the above disadvantage, striking off remains the most common way to close businesses as it is more cost-efficient.

‘Striking off’ services

As a registered filing agent, Aventus can be authorized to strike off a company. Our scope of work for a ‘Striking off’ engagement includes:

Preparing the necessary secretarial documents and directors’ declaration; and
Submitting of strike off application to ACRA.

Our accounting team can also assist with the preparation of the final set of accounts (i.e. zero-rised accounts) for business closure.

Contact Us

Let us play a part in the closure of a chapter of your entrepreneurial journey and help you move on quickly.