Advisory Services

Striking Off
‍It is our standard practice to advise client, who wish to dissolve companies, that they should always explore if they can proceed to apply for their companies to be struck off from the Register, pursuant to Section 344 of the Singapore Companies Act, in lieu of liquidation. Striking off is speedier, simpler, no newspaper publicity and less costly.

The main conditions required are that the Company is no longer in business, has no assets or liabilities and no outstanding obligations to the Accounting and Corporate Regulatory Authority.

We will undertake to verify that your Company "qualifies" to be struck off, prepare all the necessary documents to be signed by the directors and shareholders, and prepare and submit the official application to the Registrar pursuant to Section 344 of the Singapore Companies Act.

Members Voluntary Winding Up
‍Two main conditions must be satisfied before a Company can be dissolved by way of Members' Voluntary Winding Up pursuant to Section 290 of the Singapore Companies:

The Company must be solvent, i.e. it has more assets than liabilities.
At least 75% of the shareholders consent to this mode of dissolution.

We will undertake to appoint a Liquidator and carry out all the necessary duties from pre-liquidation to final dissolution of the Company.

If there are significant or substantial assets to be realised or distributed, or liabilities to be settled, time costs in addition to our fixed fee as quoted will be charged.

Creditors Voluntary Winding Up
‍If a company is insolvent i.e. there are insufficient assets to settle all the creditors, it can be dissolved by way of Creditors' Voluntary Winding Up pursuant to Section 290 of the Singapore Companies Act, provided at least 75% of the shareholders consent to this mode of dissolution.
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We will undertake to appoint an approved and qualified Liquidator and carry out all the necessary duties from pre-liquidation to final dissolution of the Company.

Compulsory Winding Up
‍Section 253 of the Singapore Companies Act provides that a company may be wound up on the petition of any of, inter alia, the following persons:
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The company itself;
Any creditor including a contingent or prospective creditor of the company
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We will arrange to appoint an approved and qualified Liquidator and carry out all the necessary duties prior to presentation of the petition for the winding up to the final dissolution of the Company.

Receivership
‍A Receiver is appointed to safeguard the interests of debenture holders in the enforcement of the security for their loan. The terms of the average debenture, equitable mortgage, or other loan document given by a borrowing company allow the lender in the event of default to appoint a Receiver.

We will arrange to appoint an approved Receiver and, if necessary, Manager on behalf of the debenture holder.

De-registration of Foreign Companies
‍Section 377 of the Singapore Companies Act requires that if a foreign company ceases to carry on business in Singapore, it shall within 7 days lodge the required notice with the Registrar of Companies.

We will undertake to ascertain whether outstanding statutory obligations of the foreign company have been complied with before we lodge the required notice with the Registrar of Companies.