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With 40+ years of experience and 1000+ businesses served across diverse industries, we continue to drive innovation, efficiency, and sustainable growth for organizations worldwide.
We're a leading provider of essential business services to support the global progress of companies and funds.
Here at IMC, our purpose is progress. Learn more
Be in the know with our latest news, insights and analysis
Our Board and Executive Leadership Team
Find out what makes our business and our brand tick
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In Singapore, the Accounting and Corporate Regulatory Authority (ACRA) may strike off a company from their register due to various reasons like failure to comply with the norms or inactivity. If your company has been struck off in Singapore but you wish to resume operations, here’s the ultimate guide for you.
We have come up with this detailed article on restoring a struck-off company in Singapore to help your organization restore its operations. In this guide, we have detailed the process of restoration and recommended specific steps that will help your firm regain its legal status.
It’s important to seek company liquidation and strike-off support from experts as they can put your business back on track.
Although you can start a new company in Singapore, restoring your previous one can be advantageous in several ways.
While there’s a provision for restoring your business after being struck off, not all companies are eligible for this restoration. Generally, businesses that have been struck off within the last six years can apply for this facility. However, the company must fulfill the following criteria to be eligible for restoration.
For restoration, we need to first understand the below:
Court-ordered restoration
Only former directors or shareholders can apply to ACRA for this process.
The restoration is intended for entities that were removed by ACRA, not the entities that had voluntarily applied for Striking off.
In some cases, even former shareholders can apply for court-ordered restoration if they can show a financial interest in the revival of the company. It’s essential to ensure that all outstanding documents, taxes, and obligations are up-to-date before applying for restoration. In case your company fails to meet these requirements, restoration might be denied.
1. Check eligibility with ACRA
2. Prepare and submit the required documents
Gather all the necessary documents before applying for restoration. These include:
3. File a Restoration Application via BizFile+
4. Clear Outstanding Fees and Penalties
5. Review and Decision
After a business submits the application, ACRA will review the case. During the review, they may request additional documents or clarifications. ACRA will evaluate the current standing and compliance of the company and come to a decision. If everything is in order, ACRA will approve the restoration.
The entire process of restoring a struck-off company may take one to two months. However, if any documents are missing or non-compliance issues arise, further delays may complicate the process. It’s wise to consult professional teams of experts for corporate advisory services and restore your business.
While it is possible to restore a struck-off company in Singapore, the process is complex and calls for expert advice. During the process, businesses need to demonstrate their compliance with regulatory requirements.
If your company has been struck off, don’t panic. Consult the IMC Group, a reputed team of professionals providing corporate secretarial services in Singapore. These experts can guide you to restore your company so that you can resume your business activities in Singapore. With complete assistance to ensure compliance and adhere to the legalities, businesses can confidently continue operating in the dynamic business environment in the country.
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