It is not simply a matter of closing a company and its activities in Singapore. You need to ask whether to strike off or wind up when the company is inactive, and whether it has debt, assets, liabilities, or outstanding matters.

It is important to understand the distinction between striking off and winding up businesses in Singapore because selecting the wrong procedure can delay closure and create additional compliance issues.

What is Striking off a Business in Singapore?

Striking off a company in Singapore is a process of removing an inactive company from the registers of ACRA after meeting certain requirements. Under the current 2026 requirements of ACRA, a business applying for striking off is supposed to have stopped trading and/or never started trading, with no remaining debts and no unresolved government matters.

What Are the Closing Requirements of ACRA for Striking Off a Company?

Businesses in Singapore are supposed to complete the following checks as follows:

• The company ought to stop all activities
  • It should settle pending debts and liabilities
  • Resolve the tax matters with IRAS
  • Check the pending government matters
  • Make sure there are no charges
  • Update the business registered address
  • Obtain the consent of the directors

Does a Business Need to Clear Its Taxes Before Striking Off?

Yes, any business needs to clear its outstanding taxes before striking off the operations. IRAS requires companies to settle outstanding liabilities of tax and obligations before applying to ACRA for striking off.

How Long Does It Take To Strike Off in 2026?

To strike off the operations, you don’t only have to submit the applications and get away with it. The company has to keep on working since the striking off is finished. The process of striking off by ACRA takes at least 03 months after approval by ACRA. Then it is followed by 02 months period during which objections can be raised. And in case of no objections, ACRA can publish a notification regarding the Final Gazette to strike off the company finally.

What is Winding Up?

The process of winding up is a formal process that a company requires to settle its matters, specifically when it has assets, debts, or other affairs that need to be addressed. This includes the settlement of obligations and debts by dealing with the company’s assets and filing the notifications with ACRA. In this case, a liquidator is appointed to oversee the whole process.

What is the Main Difference Between Striking Off and Winding Up in Singapore?

The difference is that striking off is for debt-free and dormant companies that meet ACRA’s criteria, whereas the winding-up process is a complete formal process of liquidation where the company’s assets, debts, and other matters are addressed.

What Are The Updated Closure Requirements of ACRA in 2026?

Directors and shareholders are supposed to check if a business has stopped its operations, has no unpaid debts or unresolved matters with the government, and has no charges or ongoing legal proceedings before applying for strike-off.

ACRA is supposed to check for outstanding credits of tax by ensuring the registered business address and email information are up to date. Failure to produce a correct declaration can result in prosecution and legal proceedings.

Practical Example

Let us consider a company in Singapore which has stopped its operations, no staff, no bank credits, no assets and liabilities, and no ongoing legal proceedings. The tax filings are also up to date. This company goes for striking off since it reflects meeting the basic criteria for ACRA.

Now, let us consider another private limited company in Singapore which has no paid suppliers, outstanding credits, and inventory that needs to be sorted or sold out. This company would normally require a more formal procedure, called as winding up since its assets and liabilities needs to be facilitated as compared to simply declaring if the company owns and owes anything.

Can a Struck Off Business Be Restored?

Yes, according to the guidelines of ACRA in 2026, companies can be restored after being struck off through an administrative or court process.

Conclusion

In the end, it can be concluded that striking off is a simpler process of closing a business’ operations on the basis of ACRA’s conditions, whereas winding up is a complete procedure where assets, liabilities, and other matters need to be facilitated.

Businesses are supposed to settle their tax obligations, review debts and credits, and resolve pending legal proceedings by retaining the needed information.

Call to Inquire

We at FAST ACCOUNTING are here to assist with your business tax clearance matters, accounting, and corporate secretarial services while you are planning to close a company in Singapore. If your company is not sure whether winding up or striking off is appropriate for you, we have experienced professionals who can assist with the financial and compliance position of your company before starting the process of closure. Reach out to us today to learn more about our professional corporate secretarial services.