Corporate Secretary Guide
Your comprehensive resource on Singapore corporate regulations and compliance.
Closing a Company: Striking Off vs Winding Up
When a business reaches the end of its lifecycle, owners must properly close the company to avoid ongoing statutory penalties.
Methods of closing a Singapore company:
- Striking Off: A simplified process for dormant or solvent companies with no assets or liabilities.
- Winding Up (Liquidation): A formal process to sell company assets, pay off creditors, and distribute remaining cash to shareholders. Can be voluntary or compulsory.