Striking Off Companies

Companies ceasing to exist are part and parcel of every business environment, and there are many good reasons for a company to walk this path. Typical reasons for striking off a company include:

  • The company has ceased business activities, is dormant or is not profitable
  • The company cannot pay its debts and is insolvent
  • Irrevocable dispute among shareholders
  • Corporate or financial restructuring
  • Breach of statutory provisions has been committed

A company that is not trading and meets certain conditions may apply to the Accounting and Corporate Regulatory Authority (ACRA) to strike the company’s name off the Companies Register, which is also known as ‘Striking Off’. Given the complexity involved in the time-consuming procedures of closing down a company, it is highly recommended that a professional firm such as AceChamp is engaged to handle the important matter of liquidation with proper care. Our experienced team is more than qualified to provide specialised services in this area; we will assess your unique situation, recommend the best course of action, and ensure that you comply with all the necessary legal and statutory requirements throughout the process.

With AceChamp’s complete and cost-effective solutions, striking off your company can be a painless step. Speak with us at AceChamp today for more information and advice!