Striking off and members' voluntary winding up — Eligibility and requirements checklist
Striking off and members' voluntary winding up are the two main ways to close a solvent Singapore company. Striking off removes a dormant company from the register, while a members' voluntary winding up formally liquidates it. This guide explains the eligibility, requirements, process and costs for striking off and members' voluntary winding up in 2026.
Raffles Corporate Services works with a panel of corporate and employment law firms; this article is general information, not legal advice.
Who this is for
These closure routes suit owners of solvent companies that have ceased trading, dormant entities being tidied up, and groups rationalising redundant subsidiaries.
The difference between striking off and winding up
Striking off is an administrative process to remove a company that has ceased business and has no assets or liabilities from ACRA's register. A members' voluntary winding up (MVL) is a formal liquidation, run by a liquidator, used where the company is solvent but has assets to distribute or a cleaner legal closure is required.
Striking off is cheaper and simpler; an MVL gives a more definitive end, a formal account of the winding up, and protection where there are assets to realise.
For a closely related perspective, see our guide on Voluntary Winding Up vs Striking Off: Key Differences in Process and Documentation.
Eligibility for each route
A company may apply to ACRA to be struck off under section 344 of the Companies Act 1967 if it is not carrying on business and can satisfy ACRA that it has no assets and liabilities and meets the other criteria. Directors must also have no outstanding regulatory filings or tax matters.
A members' voluntary winding up requires the directors to make a declaration of solvency, and is commenced by the members under the Insolvency, Restructuring and Dissolution Act 2018, which now governs winding up in Singapore.
You may also find our related article on Striking off and members’ voluntary winding up — Timeline and processing benchmarks useful.
Requirements and process
For striking off, the company must clear outstanding tax with IRAS, close bank accounts, and file the striking-off application; ACRA then publishes notices and, absent objection, strikes the company off after the statutory period. For an MVL, the members appoint a liquidator, who realises assets, settles liabilities, distributes any surplus and holds a final meeting.
Both routes require that the company's statutory records and filings are up to date before closure can proceed.
Cost and timeline benchmarks for 2026
Striking off typically takes 4 to 6 months from application to final removal, allowing for the notice periods. An MVL usually takes 8 to 14 months because of the liquidator's process and the tax clearance.
Indicative costs in 2026: striking off from around S$800 to S$2,500 in professional fees; a members' voluntary winding up from roughly S$5,000 to S$15,000 including the liquidator's fees, depending on complexity.
Common mistakes and gotchas
The most common error is applying to strike off while the company still has assets, unresolved tax, or open bank accounts, which leads ACRA to reject the application. Another is forgetting that a struck-off company can be restored, so proper closure of tax and banking matters is important.
For an MVL, directors sometimes make the declaration of solvency without proper grounds, which carries personal liability if the company turns out to be insolvent.
Step-by-step process
- Confirm the company is solvent and decide between striking off and a members' voluntary winding up.
- Clear outstanding tax with IRAS and bring statutory filings up to date.
- For striking off, close bank accounts and file the striking-off application with ACRA.
- For an MVL, make the declaration of solvency and appoint a liquidator.
- Complete the notice periods or the liquidator's process, then the company is dissolved or struck off.
Striking Off and Members' Voluntary Winding Up at a glance
- Governing framework: Companies Act 1967 s344; IRDA 2018
- Typical timeline: Striking off 4-6 months; MVL 8-14 months
- Indicative cost (2026): Striking off S$800-S$2,500; MVL S$5,000-S$15,000
Related guides
Across the Raffles group of sites, see Changing Employer on Your Employment Pass in Singapore 2026: Process, Timeline and What Could Go Wrong and our guide on Voluntary Winding Up vs Striking Off: Key Differences in Process and Documentation for further reading.
Official references
FAQs
What is the difference between striking off and winding up?
Striking off is an administrative removal of a dormant, asset-free company from the register; a members' voluntary winding up is a formal liquidation by a liquidator for a solvent company with assets to distribute.
How long does striking off take?
Striking off typically takes 4 to 6 months from application to final removal, allowing for ACRA's notice periods.
What law governs members' voluntary winding up?
Winding up in Singapore is governed by the Insolvency, Restructuring and Dissolution Act 2018, and requires a directors' declaration of solvency.
Can a struck-off company be restored?
Yes, a struck-off company can be restored to the register within the statutory period on application, which is why clean closure of tax and banking is important.
Need help with this? Call, SMS or WhatsApp +65 8501 7133, or email [email protected]. Raffles Corporate Services works with a panel of corporate and employment law firms; this article is general information, not legal advice.
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