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Closing of Pte Ltd Company

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wonderfullyboo
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Closing of Pte Ltd Company

Postby wonderfullyboo » Thu, 03 Mar 2011 7:35 am

Hi,

Would appreciate if someone can share how to close a singapore pte ltd company on my own? The company hasn't done any business since it was incorporated.

Any help or advice at all is appreciated!

Thanks!

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Postby Mad Scientist » Thu, 03 Mar 2011 8:01 am

Closing a Company or Business
All aspects of opening, running and closing a business in Singapore come under the authority of Accounting & Corporate Regulatory Authority (ACRA).

* The ACRA website has comprehensive information on setting up, running and closing down a business in Singapore: www.acra.gov.sg

Many transactions may be carried out electronically using BizFile.

3. Striking off

Any director of the company who is issued with a SingPass may apply to have the company struck off or they may appoint a professional firm (auditors, a law firm or a corporate secretarial firm) to do so on their behalf.

* The application must be filed using Bizfile:

Closing a Business

The business owner may close a business by filing online either:

* a notice of termination
* or a notice of cessation

Online notification should be made on the Bizfile website accessed using ID No and SingPass:

* To enter Bizfile: * Detailed information from ACRA

Closing a Private Limited Company

There are a number of ways in which a Private Limited Company may be closed: it may be wound up (voluntarily or by court order); it may placed under receivership; it may be placed under judicial management; or it may apply to be struck off the register.
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Postby wonderfullyboo » Thu, 03 Mar 2011 8:03 am

Hi Mad Scientist! Thanks for your detailed advice! What is the difference between "striking off" & "closing a business"? I've already applied to "strike off" on the Acra website. Is there anything else that needs to be done?

Thanks again! :)

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Postby JR8 » Thu, 03 Mar 2011 8:09 am

wonderfullyboo wrote:Hi Mad Scientist! Thanks for your detailed advice! What is the difference between "striking off" & "closing a business"? I've already applied to "strike off" on the Acra website. Is there anything else that needs to be done?

Thanks again! :)


Maybe a radical idea, but have you considered calling them up and asking them?

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Postby Mad Scientist » Fri, 04 Mar 2011 3:59 am

wonderfullyboo wrote:Hi Mad Scientist! Thanks for your detailed advice! What is the difference between "striking off" & "closing a business"? I've already applied to "strike off" on the Acra website. Is there anything else that needs to be done?

Thanks again! :)


Striking off means done not by your own choice. Chap 11 or 13 is one way.

Closing means you do it on your own accord
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Postby aster » Wed, 09 Mar 2011 8:18 pm

MS, are you sure those phrases don't mean the same? Because I've read that striking off can also be closing down the business on your own accord.

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Postby Mad Scientist » Thu, 10 Mar 2011 2:51 am

aster wrote:MS, are you sure those phrases don't mean the same? Because I've read that striking off can also be closing down the business on your own accord.


Honestly , I would think so. Legally means the court or the governing body can strike out your company from the register if you flout the law. Closing will be under your own accord. This is how I understand it.
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Postby pacads » Mon, 14 Mar 2011 2:29 am

aster wrote:MS, are you sure those phrases don't mean the same? Because I've read that striking off can also be closing down the business on your own accord.


They mean the same thing. This is not the first time wrong information has been passed around by MS. You can strike off your own company from the registar and you SHOULD do so if you intend to close down your company.

It is good to share but it is no good to share wrong information.

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Postby Mad Scientist » Mon, 14 Mar 2011 3:58 am

pacads wrote:
aster wrote:MS, are you sure those phrases don't mean the same? Because I've read that striking off can also be closing down the business on your own accord.


They mean the same thing. This is not the first time wrong information has been passed around by MS. You can strike off your own company from the registar and you SHOULD do so if you intend to close down your company.

It is good to share but it is no good to share wrong information.


If you are on a witch hunt , go ahead and dance yourself. FYI I got this from the lawyer's mouth itself. MY earlier post suggested it should be the same. Rightfully so I said it.If you care to read what I said before this.
If I made genuine mistake I will be the first one to accept it,
Do not point fingers and accuse me of providing wrong information. I disagree with you on the company cheques and not wanting to continue the debate does not mean you can start with this line of attack.I still stand with what I said as my ex-accountant confirm me of what I have understood. We are a listed company although I am no longer with them, I have access to all these infos.
If I have provided wrong informations all these while then I must ask the mods and all those that I have helped in this forum and others the "wrong information" that have mislead them to their demise.
If rightly so, please inform the admin and mods remove all my informations since it is worthless to anyone here. Please inform them that from now onward you are the source of informations.
I will gladly accept this and disappear from this forum.

IF YOU THINK YOU CAN PROVIDE BETTER INFORMATIONS THAN ME , GO AHEAD HELP YOURSELF. CONTRIBUTE MORE RATHER THAN LOOKING FOR MY MISTAKES> THIS IS A PUBLIC FORUM>
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Postby Strong Eagle » Mon, 14 Mar 2011 4:01 pm

The whole point of wrapping up a company, no matter what you may call it, is to ensure that the company does not close down before its debt obligations have been taken care of.

If the company owes money to anyone or any company, it must either pay the debt off, or get a letter stating that the debt is forgiven from the creditor.

If this cannot be done, then the case goes to court.

Striking off means removing the name from the Registry of Companies. This is the same as closing it down. The last act of closing down is to strike the name off the registry.

Otherwise, it is just paperwork.

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Postby pacads » Tue, 15 Mar 2011 2:01 pm

Mad Scientist wrote:
pacads wrote:
aster wrote:MS, are you sure those phrases don't mean the same? Because I've read that striking off can also be closing down the business on your own accord.


They mean the same thing. This is not the first time wrong information has been passed around by MS. You can strike off your own company from the registar and you SHOULD do so if you intend to close down your company.

It is good to share but it is no good to share wrong information.


If you are on a witch hunt , go ahead and dance yourself. FYI I got this from the lawyer's mouth itself. MY earlier post suggested it should be the same. Rightfully so I said it.If you care to read what I said before this.
If I made genuine mistake I will be the first one to accept it,
Do not point fingers and accuse me of providing wrong information. I disagree with you on the company cheques and not wanting to continue the debate does not mean you can start with this line of attack.I still stand with what I said as my ex-accountant confirm me of what I have understood. We are a listed company although I am no longer with them, I have access to all these infos.
If I have provided wrong informations all these while then I must ask the mods and all those that I have helped in this forum and others the "wrong information" that have mislead them to their demise.
If rightly so, please inform the admin and mods remove all my informations since it is worthless to anyone here. Please inform them that from now onward you are the source of informations.
I will gladly accept this and disappear from this forum.

IF YOU THINK YOU CAN PROVIDE BETTER INFORMATIONS THAN ME , GO AHEAD HELP YOURSELF. CONTRIBUTE MORE RATHER THAN LOOKING FOR MY MISTAKES> THIS IS A PUBLIC FORUM>


You really think I'm hunting on you, seriously? Ha! I didn't go to every thread to stick my nose in it. I only speak what I think is right and what I really understand. I do not speak freely or irresponsibly. FIY, Information - there is no S. You can't count information.

Like you mention it is a public forum, you can also point out my mistake if I have made any.

Come on, I only pointed out your mistake, there is no need for you to disappear. When you call me names openly together with another moderator, I didn't disappear. Now you know this "parrot" really talks back huh. For the issue of cheques, I'm not the only only who pointed out, if you can't accept it, that's fine.

You keep throwing out accountants, lawyers, listed company, etc. If you still have access to the company informationof a listed company like that you have mention, are you implying to sensitive information? If the information is not sensitive, is there a need to mention all these. Ego boost? With all due respect, I think SE has explained it much better than you.

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Postby sundaymorningstaple » Tue, 15 Mar 2011 3:33 pm

I'd say it's possible that MS isn't the only one who's made some mistakes. We all do, when we are working and trying to help people while on the forum at the same time. Unfortunately, most of us only use one nick and aren't here just for the advertising, passive or not. Frankly, your two writing styles are similar so I would guess that you are one and the same.

When you have helped as many people on this board as MS has helped, in the short time he's been here, then, and only then, can you presume to be a good as he is. We all make mistakes, your number of recent edits indicate you may have made some as well and are just now finding them and trying to cover your tracks but unfortunately, the system picks up your edits. I could probably pull up cached pages to see what you have changed, but I really can't be bothered. The fact that there are edits says enough.

It occurs to me, that maybe, you figure if you used more nicks all using the same signature, your company would appear to be bigger or more popular. I know that's a radical idea, but unless your other nick was banned, I see no reason for registering another nick and posting with two nicks other than what I've mentioned. We already had a run-in because of the first nick when you first came on board. Wonder if we are heading for another. :-|

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Postby pacads » Wed, 16 Mar 2011 1:16 am

Editing means covering up? Do you mean I can't edit ? I edited on the same day I posted the message, sometimes right after it because I rephrase my sentences, is that not allowed here? Sometimes I'm abit offensive or the sentence don't sound right, spelling mistakes so I edited. What are you trying to imply? Don't try to paint a picture that I deliberately did something to cover up.

As I have mention, I cannot log-in to previous nick, I thought you can check that it is not activated anymore since we have took out the email addresss. We wanted a same log in name for all classified ads and we didn't want to change the log-in name for the forum for fear of allegations like this may happen but the system didn't allow. If you can pull the cached thread, surely you know that the other nick was not activated and waiting for activation.

No offence to you but if you really think that more nicks having the same sig will be a bigger company then you are in serious trouble.

Since you have accused me, give me the date that after first post of PACADS that my previous nick was commenting. I don't do such things. For my previous nick, did I not offered to change it and you are still harping on it? I made a mistake but did you let go? Only you know it. You used to have your company link in your signature too, just that you didn't have one to link now as it has ceased operation according to the records of ACRA. Did you have the same intention you accuse me of? To prevent any more allegations from you, I also deliberatly avoid any looking for office threads.

You have been accusing me of things I have not done or thought before by letting your imagination run wild. You don't even know me. Is that all you can do?

Why do I need to help as many people as him to let everyone I'm good. This is not a competition and its childish to think this way. In the first place, I never had this intention to tell everyone I'm better. My intention is to provide the right information to people who seek and to read on interesting issues about businesses. I do not think anyone should share freely or casually and I hope you are not encourging it. This is not some gossip or hearsay forum. This is a business forum. Opinions are opinions but facts are facts. You can't change facts.

Business is my life. I don't do business solely for money. I'm passionate about it. So many years of ups and downs, not once I turn to being employed because I don't have any money left in my bank.

We spent good money on the website, it's under going another big change to make it fully interactive in 3 months time. Our company have engaged SEO consultants, we have our own in house branding consultant, we do not need to do those things you have accused us on to cheapen the branding we have spent so much money to build. Till now, we don't even encourage our staffs to send out soliciting emails to garner sales.

We are not a 1-man operation company that needs the director to do soliciting. We are also not those $1 company and our company has a number of fixed assets. If you wish to, do a quick count on the number of assets in our website tells you I'm not the average joe that needs to solicit another sales from the forum to put bread and butter on my dining table. Compare your website with ours, it tells you a clear picture we didn't need to do soliciting here. Frankly, ask anyone here, they will tell you, you need it more than I do. I have been refraining myself from saying all these for a very long time because I didn't want to bruise your pride. You have cross the line already. Have you ever thought why other moderators having the same issues as you do and I can see in a number of occasions, they have advised you to cool down or chill it.

For the sake of other forummers, I also want to hilight. I notice any business thread of any new businesses asking for opinions, you will slam it down, especially in F&B or Pubs. I acknowledge the failure rates of such businesses are high but in every trade, there are bound to be failures and success. This is a business forum afterall.

I didn't want to quarrel with anyone here especially this is the start of a new year.

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Postby ev-disinfection » Wed, 16 Mar 2011 3:17 am

Errrrr.....I think that this is not a business forum.

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Postby sundaymorningstaple » Wed, 16 Mar 2011 6:58 am

pacads wrote:
I didn't want to quarrel with anyone here especially this is the start of a new year.


Then you shouldn't have gone after another forumer like a rabid dog. As for as your other account is concerned, it's still active from what I can see. You haven't been banned so therefore you are operating with two nicks, whether or not you use them one after the other or interchangeably. There are regulars here who have had a least three nicks here. Still do I guess, but they aren't having their business link in their signature. What your intent is and what it appears to be to others is often two different things. I didn't go after you. I was referred to your signature showing up several places by one of our regulars. Oh, offense is a good strategy when called out. You will do well here as this country is noted for passive aggression. But it won't work here. As far as the past, it wouldn't have been brought up had it not been for the present.

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