One-stop company registration in Dubai services

• Country: Singapore
• Services: Company formation
• Rating Count: 159
• Rating Value: 4.8

The Singapore Unique Entity Number (UEN) is a unique identification number assigned to all types of business entities in Singapore, including businesses, companies, and non-profit organizations.

Launched by ACRA, the UEN makes dealing with government agencies easier and supports businesses in the digital economy.

In this article, you will learn:

• What is the UEN number, why UEN is important and who needs it;
• UEN format and examples of UEN;
• How to get UEN and how to do a UEN search in Singapore

What is the Unique Entity Number (UEN)?

Launded in 2009, the Unique Entity Number or UEN is a government-issued identifier consisting of 9 or 10 digits, assigned to businesses and companies that you register in Singapore through Accounting and Corporate Regulatory Authority (ACRA).

The UEN is a unique permanent number for companies in Singapore the same as the National Registration Identity Card or NRIC for Singapore citizens. 

That is why, if you change your company name or its business structure, you still get the same UEN. You only lose your UEN if you close down your company.

Why UEN is important to your company?

Before 2009, businesses had to use multiple identification numbers to interact with corresponding government agencies. For example:

• Business Registration Number to update company information with ACRA;
• Central Registration Number to apply for import and export permits with SC;
• Employer Reference Number to submit CPF contributions to CBFB;
• Tax Reference Number to file taxes with Inland Revenue Authority of Singapore (IRAS).

However, after 2009, you only need to remember and use the UEN to replace all the above numbers.

The introduction of the Unique Entity Number (UEN) brings many benefits, simplifying business operations and enhancing efficiency, with key advantages such as:

• Unique Identification: The UEN serves as a unique identifier that allows businesses to be easily recognized by government agencies and other stakeholders. This minimizes confusion and simplifies processes like tax filing, business registration, and license applications.
• Enhanced Credibility: The UEN promotes transparency by providing stakeholders with information about a business’s registration status, operational history, and contact details. This can help businesses build trust with customers, investors, and partners.
• Easy Access to Government Services: The UEN enables businesses to easily access online government services, such as:
  • Filing taxes;
  • Registering businesses;
  • Applying for licenses;
  • Updating information with agencies like ACRA and IRAS;
  • Submitting CPF payments.
• In addition to these benefits, the UEN offers other advantages, such as:
  • Open a corporate bank account; 
  • Hire employees;
  • Participate in government support programs.

Who needs to have a UEN in Singapore?

All entities that register in Singapore must have a UEN from a UEN-issuing authority such as ACRA, ROS, ESG, including.

• Businesses (Sole proprietorship, partnership);
• Limited liability partnerships (LLPs);
• Local companies (private limited, exempt private limited, public company by share or by guarantee);
• Societies;
• Representative offices;
• Trade unions;
• Healthcare institutions.

In conclusion, A UEN (Unique Entity Number) will be issued to local businesses, companies, associations, and representative offices when:

• They have frequent interactions with government agencies;
• They are recognized by a UEN-issuing authority.

That is why, a UEN will not be issued to:

• Individuals: They will use NRIC instead;
• Businesses, organizations, or companies headquartered overseas that do not engage or rarely do with Singaporean government agencies;
• Branches or divisions of a business.

For example, a foreign company sells products to government agencies on a one-time basis.

However, some government agencies may choose to add a sub-entity code to the UEN in their system if the agency needs to identify and interact with a business’s branches or departments.

UEN formats and examples

How to get UEN number: a step-by-step guide

You can only obtain your unique entity number after you register a business/company in Singapore. The process to receive your UEN is as follows:

• Get your normal UEN (Special unique entity number): A SUN allows business owners to remember their UEN and get a “beautiful number” (according to Asia culture and Feng Shui) when transacting with government agencies.
• Check your UEN: You can find your UEN on the certificate of incorporation.

How to do a UEN number search

You have a few options to check the UEN of any company.

Option 1: You can find your UEN on your company’s digital certificate of incorporation (COI). You will receive your COI after successfully registering your company.

Option 2: You can verify your company UEN by searching on the Singapore government website via this tool: https://www.uen.gov.sg by entering your UEN into the search bar.

The search results will display information such as:

• UEN Number;
• Company Name;
• Entity Type;
• UEN Status;
• UEN Issuance (ACRA or other issuing authority);
• Address.

Option 3: You can visit the ACRA's BizFile+ website (via your registered agent or do it yourself)

1. Click on the ‘Buy Information’ tab, then go to "certificate".
2. Select the option you need (digital copy or hard copy) and follow the instructions from there.

The fee for purchasing the Certificate of Incorporation on BizFile 50 SGD.

What are the legal requirement to display UEN?

Your Singapore company are legally required to display their UEN on various official and public-facing documents.

Key documents where UEN must be displayed are:

1. Invoices;
2. Receipts;
3. Bills of Exchange;
4. Order forms;
5. Business Letterheads;
6. Correspondence with government agencies;
7. Brochures, leaflets, and published notice;
8. Shop signs or office directories

How can we help you get your company UEN?

With our expertise and experience, we provide comprehensive support throughout the registration process, ensuring a smooth and hassle-free experience for aspiring entrepreneurs like you.

• Choose an appropriate business name for your Singapore sole proprietorship;
• Prepare the necessary documents for registration;
• Submit documents to the Accounting and Corporate Regulatory Authority (ACRA) on your behalf;
• Support in opening your business bank accounts;
• Open a corporate bank account in Singapore with a 99% success rate; 
• Get an affordable, professional registered office address for business;
• Support to open, authenticate, and manage Stripe, PayPal Business in Singapore, Hong Kong, and the U.S;
• Handle all your tax accounting needs, timely annual filings, auditing, and more.

FAQs about Singapore UEN

• Services: DUNS registration
• Rating Count: 16
• Rating Value: 5

If you have a company that operates across borders, registering a DUNS number should be a priority

Global supply chains are complex and constantly changing, and the need for public transparency is higher than ever, especially in the global food, pharmaceutical, and medical device industries. 

DUNS number is the key for businesses. It helps build credibility, enhance transparency, and access global markets.

In this article, we will explore the significance of the DUNS number, its role in the import-export industry, and a detailed, step-by-step guide on how your company can register for one.

What Is a DUNS number for import and export companies?

The DUNS (Data Universal Numbering System) number is a unique nine-digit identifier assigned to businesses by Dun & Bradstreet (D&B).

Specifically for import and export companies, the DUNS number is recognized internationally and is often required by over 240 government, trade, and industry organizations around the globe to verify a company’s legitimacy and trustworthiness in global trade.

Why is the DUNS number important for import and export companies?

For import and export businesses, a DUNS number is key to establishing trust with suppliers, customers, and trade authorities worldwide, facilitating smoother cross-border transactions, and ensuring compliance with international regulations.

How to register your DUNS number for export-import companies: A step-by-step guide

Now that you understand the importance of a DUNS number for import and export businesses, let's walk through the process of registering for one. 

How long does it take to get a DUNS number?

The processing time for obtaining a DUNS number varies depending on the country and the completeness of the application. 

In many cases, it can take anywhere from 5 to 30 business days to receive your DUNS number. 

However, if you need a DUNS number more urgently, Dun & Bradstreet offers an expedited service in some regions, which can reduce the processing time to as little as 1 to 5 business days.

What to do after getting your DUNS number?

Once you have your DUNS number, there are a few key actions you should take to maximize its value for your import-export business:

1. Ensure that your DUNS profile is always up to date, especially as your company grows or undergoes significant changes (e.g., new address, CEO change, etc.).
2. Provide your DUNS number to your partners, lenders, and government agencies. This will help streamline transactions and foster trust with stakeholders.
3. Regularly check your Dun & Bradstreet credit report to ensure it accurately reflects your company’s financial health. This report is often used by financial institutions, potential partners, and suppliers to assess your company's reliability.
4. Highlight your DUNS number on their websites or marketing materials to show potential clients and partners that you are credible and financially sound.

How can we help you get a DUNS number for import-export activities?

With expertise in DUNS registration for Apple Developer, and Google Developer accounts. trading, import-export, and other business needs, Global Link Asia Consulting offers:

• Guidance in choosing the best DUNS package;
• Support in preparing the necessary documents for registration.

Common FAQs about the DUNS number

• Country: Singapore
• Services: Company formation
• Rating Count: 389
• Rating Value: 4.9

Are you considering starting a business in Singapore? Look no further than the Singapore sole proprietorship. 

With its simplicity and flexibility, the sole proprietorship is an ideal choice for many entrepreneurs.

In this blog post, you will learn everything there is about this Singapore business structure

• What is a sole proprietorship;
• Its pros and cons;
• How to register and manage your sole proprietorship;
• How to transfer ownership, convert to another structure;
• And all essential insights regarding this entity.

By the end of this post, you'll have all the knowledge you need to confidently register your own sole proprietorship with ACRA.

Let's get started!

What is a sole proprietorship?

A sole proprietorship is a business structure owned by one person, the sole proprietor. 

The business and the owner are not legally separate in a sole proprietorship, so the owner has complete control over every part of the business. 

In this way, a sole proprietorship is considered an “unincorporated business” in the eyes of the government. A sole proprietorship is not a company since a company is a separate legal entity from the business owner

Features and characteristics of a sole proprietorship are:

1. The business owner is responsible for all business decisions and manages daily operations;
2. The business owner is responsible for all business and personal assets and liabilities;
3. The business owner is personally liable for all the debts and losses;
4. The business owner is the single owner of this entity
5. The earned income is considered personal income and is subject to personal income tax rates. 

That is why, if your business flourishes in the future, or you want to bring in more shareholders or you want a more optimal tax rate as your income grows, the best solution is to convert your sole proprietorship to a private limited company or different business structure.

A sole proprietorship comes by different names depending on which country you live in. It can called a self-employed or a sole trader.

8 sole proprietorship examples

A sole proprietorship is suitable for entrepreneurs who want to start a very small or small and low-risk business that can generate a steady income, with no needed employees, and little upfront investment.

That is why, the 8 typical examples below are businesses that can operate as sole proprietorships are:

• Freelance writer;
• Photographer;
• Personal trainer;
• Plumber;
• Graphic designer;
• Housekeeper;
• Bakery owner;
• Tutor.

Every business can be a sole proprietorship with a single owner. That leads us to a question.

Can a foreigner register a sole proprietorship in Singapore?

Yes, a foreigner can register a sole proprietorship in Singapore. This is eligible by law according to ACRA and Singapore Companies Act.

Suppose you are foreigners living overseas who want to register a sole proprietorship or partnership in Singapore. 

In that case, you must appoint at least one local resident as an authorized representative (Singapore citizens, Permanent Residents, or holders of an EntrePass/Employment Pass). 

Also, the foreign owner must hire a registered filing agent like Global Link Asia Consulting to submit the application through BizFile+.

If you are foreigners who plan to be in Singapore to manage the operations of your sole proprietorship, you must get approval from the Ministry of Manpower after the business is registered.

In addition, you should use a registered filing agent like Global Link Asia Consulting if you or your proposed partner don’t have a Singpass account.

Now you know if a foreigner can open their own sole proprietorship, we will learn if this structure is worth it or not.

Advantages and disadvantages of a Singapore sole proprietorship

There are some pros and cons when incorporating a sole proprietorship in Singapore. Let’s take a look at the table below:

Now we know the upsides and downsides of owning a sole proprietorship in Singapore. So, what is the difference between a sole proprietorship and other business structures?

What is the difference between a sole proprietorship, a private limited company, and a partnership?

A sole proprietorship may be your ideal choice at the moment. In the future, you may have to consider a different option to convert your entity. 

Some popular choices for conversion are a partnership or a private limited company (link ở đây). The table below will highlight the differences so you know which to choose in the future.

How to register a sole proprietorship in Singapore?

Who can set up a sole proprietorship in Singapore?

Anyone must be at least 18 years old and must be also one of the following:

• ASingapore citizen.
• A permanent resident.
• An Employment Pass or Dependant's Pass.
• Foreigners residing overseas with the help of a registered filing agent

What are the required documents?

Certain documents you need to prepare to register a sole proprietorship in Singapore: These include:

1. Proposed name for the business;
2. Brief description of the company activities
3. Business address
4. Valid proof of identity (passport, identity card, bill showing your personal information)
5. Proof of residence (bill showing your residential address)

Registration process for Singapore sole proprietorship

In this section, you will learn the proven registration process to open your sole proprietorship. It is important to follow step-by-step.

What to do after registering a sole proprietorship?

Congratulations on successfully registering your Singapore sole proprietorship!

Now that you have taken this important step toward starting your own business, it's time to focus on what comes next. 

Here are the essential next steps to ensure a smooth transition into operating your sole proprietorship:

Business operations

• Open a business bank account;
• Open your PayPal, and Stripe accounts;
• Get your business phone number;
• Get your office lease;
• Start your business right away;
• Register your GST (If any).

Annual compliance

• File your annual business name renewals
• File your annual returns and personal tax income returns
• Pay your CBF contributions
• Renew your registration every year or every 3 years with ACRA;
• Keep proper accounting records and receipts for at least 5 years, for inspection with IRAS, ACRA if needed;

What to do if you transfer your sole proprietorship ownership to another person?

Suppose you no longer need your sore proprietorship, you have 3 options to choose

1. Close down;
2. Convert to another business structure or;
3. Transfer ownership.

To transfer ownership, you must notify the Accounting and Corporate Regulatory Authority (ACRA) within 14 days of the ownership change through BizFile+ in the section “Change in Business Information including Appointment/Cessation of Business Owner/Authorised Representative”.

The process must be authenticated with SingPass or CorpPass (via a registered agent support or on your own).

Additionally, both the previous and new owners must manage their respective tax obligations. 

The former owner must account for any balancing allowance or charge resulting from the sale of fixed assets, while the new owner can claim capital allowances on the assets they acquire

How to close down your sole proprietorship in Singapore?

Terminating your sole proprietorship involves all the steps below. 

Remember that to have a successful closure, careful preparation is a must as the business will be ceased immediately after submitting a cessation application.

Step 1: Deregister your GST

If the sole proprietorship is GST registered, the business owner has to apply for cancellation of GST registration with IRAS. 

Step 2: Clear out all the debts and liabilities

The business owners have to make sure all debts, taxes, and obligations are settled with relevant creditors and government agencies.

• File your tax returns, 
• Handle employment leave and insurance
• Pay all taxes to the IRAS
• Pay back all your debts
• Dispose of all your assets such as equipment or inventory

Step 3: Close your bank accounts

You need to close the business bank account associated with the sole proprietorship. 

We advise you to close the bank account as the last step if you have a remaining tax credit from the IRAS. This way, you don’t lose the tax credit that IRAS sends back to your bank account.

Step 4: Submit your cessation application

Once you have done every step above, you can fill out the "Cessation of Business" online via BizFile+.

How can we help you set up your sole proprietorship in Singapore?

Are you considering starting your own business in Singapore? Look no further than Global Link Asia Consulting, your trusted partner in setting up a Singapore sole proprietorship. 

With our expertise and experience, we provide comprehensive support throughout the registration process, ensuring a smooth and hassle-free experience for aspiring entrepreneurs like you.

• Choose an appropriate business name for your Singapore sole proprietorship.
• Prepare the necessary documents for registration
• Submit documents to the Accounting and Corporate Regulatory Authority (ACRA) on your behalf
• Support in opening your business bank accounts
• Open a corporate bank account in Singapore with a 99% success rate;
• Get an affordable, professional registered office address for business;
• Support to open, authenticate, and manage Stripe, PayPal Business in Singapore, Hong Kong, and the U.S;
• Handle all your tax accounting needs, timely annual filings, auditing, and more.

FAQ about Singapore sole proprietorship

• Rating Count: 32
• Rating Value: 4.8

Companies in Singapore, as a part of the incorporation process, can choose their fiscal year based on what suits their business best.

Selecting the right financial year-end date can mean a whole different for your business operations, from financial reporting to operational rhythms.

This flexibility allows your business to optimize its financial planning and tax strategies.

In our article, you will learn everything about

• Singapore fiscal year and the difference between fiscal year and calendar year;
• Financial year-end and how to choose the “best” financial year-end date;
• Singapore assessment year and what to do after your FYE.

Curious to learn more? Let’s dive into this article crafted by our experts who know how to help Singapore start-ups thrive.

Introduction to Singapore fiscal year

What is a fiscal year?

A Singapore fiscal year, also known as a financial year (or sometimes a budget year), is a 12-month period used by businesses for financial reporting and taxes. 

A fiscal year is also used in government accounting and for budget purposes.

In Singapore, a fiscal year usually starts on April 1st and ends on March 31st of the following year. 

After selecting your financial year-end date, you must inform IRAS because deadlines for unaudited financial statements, annual reports, and tax filings depend on it.

If you outsource accounting services in Singapore, they will handle this process and ensure all documents are prepared on time.

Advantages and disadvantages of fiscal year

Every Singapore company must have a fiscal year. You can choose your own company's financial year-end date.

There are pros and cons when having your own fiscal year, as opposed to the universal fiscal year required in other countries.

What is the difference between a fiscal year and a calendar year?

Now that we learn what a fiscal year is and the advantages of using a fiscal year. Many business owners still find confusion between a fiscal year and a calendar year as some choose a calendar as their fiscal year in Singapore.

The table below will showcase the distinction between these two terms.

Introduction to Singapore's financial year end

What is the financial year end in Singapore?

The financial year end in Singapore or FYE, is the last day of your company's fiscal year (your accounting period). This date recurs every 12 months. You can choose any date as your financial year end.

The FYE is crucial for companies because it determines when they need to file mandatory legal documents, such as annual returns, corporate tax returns, ECI filing, AGM filing, etc.

How do you determine an FYE for your new company in Singapore?

If you have a new company in Singapore, here are 5 notes you need to remember before determining your company FYE:

• The fiscal year must end on the date of your choice;
• Your first financial year can not be over 18 months (unless the Registrar allows you to extend it);
• Any subsequent fiscal year should be 12 months long;
• Whether the company is part of a group of companies;
• How to maximize the tax exemptions in the New Start-up Tax Exemption Scheme.

Examples of a Singapore FYE

Choosing what date to set as your company's financial year end is entirely up to your business decision. Some common data business owner use for their company's financial year end are

• Calendar year: January 1st to December 31st.
• Financial year-ends: March 31st, June 30th, September 30th, or December 31st (There are financial quarter-ends).
• Company's incorporation date: e.g., June 15th to June 14th of the following year).
• Seasonal considerations: Your industry's seasonal cycles (e.g., high-demand holiday season). This is often chosen by travel agents, flower shops, etc
• Business cycle alignment: Your unique business cycle, considering project timelines, contract renewals, and industry fluctuations.

How to choose the right financial year end date for tax optimization?

To maximize company tax exemptions, you should not pick any date for your company. 

Instead, it's best to make your first year of assessment as long as possible within the first 12-month period. This strategy helps you get the most benefit from tax exemption scheme for new startups.

For example,

1. Your company’s incorporation date: 10 June 2023;
2. Add one year to it: 10 June 2024;
3. Subtract a month: 10 May 2024;
4. Pick the last day of that month as your company’s FYE: 31 May 2024.

How to change your financial year end?

If you wish to change your FYE, you should notify ACRA, VIA BizFile+ online, section”Change of Financial Year End” and there is no fee for this change.

You can only adjust the FYE for the current year or the previous one.

You cannot change your FYE if 

• The deadlines for holding an AGM, filing annual returns, or sending financial statements have already passed;
• You wish to change FYE in the past five years;
• The change will make your financial year longer than 18 months.

You need to prepare the following information to make a change:

1. Company UEN;
2. Revised financial year-end date
3. Financial year period
4. Prior approval from Registrar, if applicable

What do you do after your company’s financial year end?

The choice of a financial year end significantly affects several important deadlines for a business. These include:

Statutory obligations

1. Annual General Meeting (AGM): within 6 months from the end of FYE;
2. Annual Return (AR): within 7 months from the end of FYE;
3. Please note that if you have a corporate shareholder, you will have to file the XBRL documents with your annual return.

For all other transactions, the filing deadlines vary according to the Companies Act but generally, it is within 14 days for most transactions.

In addition, if there are any changes in particulars, please inform your service provider as soon as possible as the change has to be filed within 14 days.

Tax

1. Estimated Chargeable Income (ECI): within 3 months from end of FYE (unless exempted);
2. Tax filing: For each financial year, the tax return is due the following year around 30 November.

If you outsource these tasks to a service corporate provider, they will handle everything for you on time.

Introduction to Singapore’s year of assessment

The year of assessment or YA, also known as the tax year (taxable year, taxpayer year), is the period when tax residents and companies have to report and pay their income taxes to IRAS.   

The income tax is calculated and charged based on the income earned in the preceding financial year or the “basis period”.

This period follows your company's financial year end.  For example, the Year of Assessment 2024 is for income earned from 1 Jan 2023 to 31 Dec 2023.

How can we help you comply with requirements for your Singapore company fiscal year?

Choosing your company fiscal year is important. Using the knowledge from our guide, you can choose the right financial year end date that best fit your business plan.

This is the first step in your company management, since your FYE determine many annual your company has to comply with. 

With 10+ years of helping entrepreneurs, we provide expert support to help you manage your company during important deadlines.

• Compute tax for ECI;
• Prepare Form C-S/C for the Corporate Tax Return;
• Prepare financial statements and full accounting report;
• Comply with AGM;
• File your AR effectively.
• And more

Reach out to us now if you need assistance

In addition, we can help you

• Register a company in Singapore;
• Open a corporate bank account in Singapore with a 99% success rate;
• Choose the right company types for tax optimization in Singapore;
• Apply for Singapore business licenses;
• Get an affordable, professional registered office address for business;
• Support to open, authenticate, and manage Stripe Paypal Business in Singapore, Hong Kong, and the U.S;
• Handle all your tax accounting needs, timely annual filings, auditing, and more.

FAQs about Singapore fiscal year

• Country: Singapore
• Services: Company formation
• Rating Count: 129
• Rating Value: 4.8

Singapore companies striking off or winding up may seem complicated. But, just like how to start your business, it’s all about understanding the process and following the right steps.

In this comprehensive guide (full of ACRA insights), we show you clear, actionable steps you can follow to close your company smoothly and efficiently, from

• What to do before ceasing your business operations;
• Learning the difference between a company striking off and winding up (liquidation);
• Learning the exact meaning of closure methods from ACRA;
• How the company closure procedure works;
• All the applications, fees you need to prepare

To IMPORTANT notes you need to remember before, during, and after the company dissolution process.

Let's begin by learning pre-closure considerations for Singapore companies

What should you do before closing down your Singapore company?

Singapore company closure, also known as striking off or winding up, is the process of ending the company's business operations.

To do this, you must get approval from the Accounting and Corporate Regulatory Authority (ACRA).

Before ceasing your company, you must consider these important points

• GST-registered companies must deregister for GST with the Inland Revenue Authority of Singapore (IRAS) if they are no longer in business.
• Companies with registered CPF accounts must settle all employee insurance obligations with the Central Provident Fund Board (CPFB) before closing.
• Companies must collect all outstanding debts and pay off all liabilities before filing for closure.

ACRA will only approve the company strike off if the company meets certain conditions. If it does not, the company must undergo a winding-up process to close down fully.

What is the difference between a striking off and winding up?

If you register a local company in Singapore, you can choose to close it down. In Singapore, there are 2 main ways to close a local company:

How to strike off a company in Singapore?

What is a company striking off?

Singapore companies striking off is a process where ACRA strikes off its name from ACRA’s Register. 

There are 2 types of striking off

1. Voluntary striking off;
2. “Compulsory” striking off.

ACRA only approves the application if: 

• There is reasonable cause to believe that the company is not conducting business and;
• It meets the criteria for striking off.

Criteria to strike off

There are criteria you need to meet before striking off your company, these are:

• Business activity: Your company has not conducted business since its incorporation or has ceased business operations.
• No debts: Your company has no outstanding debts to the IRAS, the CPF, or any other government agency.
• No mortgages: Your company has no unpaid mortgages.
• No legal proceedings: Your company is not involved in any legal proceedings, disputes, or litigation (within or outside Singapore).
• No assets and liabilities: Your company has no assets or liabilities at the time of application and no potential future assets or liabilities.
• Application submission: Your company representative must submit an online application.

Striking off process

In this section, you will learn about the whole process from A to Z to get your company struck off from the ACRA Registrar. Make sure you have done each step correctly to ensure an orderly and legal termination.

If you have a dormant company, you can use the same process. However, please note that you need to use the e-Service to Apply for Waiver to Submit Tax Return (Dormant Company) before proceeding to apply for strike-off with ACRA.

 If not, you may have to undergo the winding up process:

How to wind up a company in Singapore?

What is a company winding up?

Company winding up, also know as company liquidation, is a formal process where your company’s assets are converted into cash to pay off its debts and liabilities. 

You can choose to wind up your company wether it is solvent or unsolvent.

A winding up process requires to have a liquidator to handle company cessation and its assets.

Winding up criteria

There are mainly 4 types of winding up in Singapore. You can choose to wind up a company in those scenario:

• Voluntary winding up if the company can pay back all debts within 12 months of the process
• Creditor winding up if the company can not pay back all debts within 12 months of the process
• Winding up by court if a person decide to file an originating summon for the liquidation process
• Simplified insolvency program if you are a small and very small company.

Winding up process

There are 4 ways you can wind up a company in Singapore:

Striking off objection: What you need to know

Any individual or business can file an objection to a company’s closure application in Singapore. If an objection is received, the Accounting and Corporate Regulatory Authority (ACRA) will notify the company.

The process will look like this

After ACRA publishes the striking-off notice in the Gazette, it will receive any objection filing and notify your company 

Now, your company has 2 months to address and resolve the objection. If you fail to resolve the objection and the objector does not withdraw their objection, the striking off application will lapse.

The company cannot apply for striking off again in the future unless the objection is withdrawn. 

How to strike off a branch office or a representative office in Singapore?

How can Global Link Asia Consulting help you strike off your company?

Global Link Asia Consulting, as your trusted one-stop corporate service provider helping hundreds of business owners start their businesses overseas and manage their companies with success, can help you:

• Prepare and file all necessary documents;
• Assist in tax clearance from IRAS;
• Ensure all legal compliance;
• Handle in resolving any objections;
• Support before, during, and after your Singapore company closure.

FAQs about Singapore company dissolution