Striking off
A company may apply to 麻豆社区 to strike off its name from the Register. 麻豆社区 may approve the application if there is reasonable cause to believe that the company is not carrying on business, and the company is able to satisfy the criteria for striking off.
If the company is GST registered and is no longer carrying on a business, it has to apply for cancellation of GST registration with IRAS. Find out more at .
Click here for more information on striking off a local company.
Members' Voluntary Winding up
A company may decide to wind up its affairs voluntarily if the directors believe that the company will be able to pay its debts, in full, within 12 months after the commencement of the winding up. The company will appoint a liquidator, or provisional liquidator, to wind up its affairs and file the necessary notifications required under the Companies Act / Insolvency, Restructuring and Dissolution Act. For more details, please refer to the Companies Act / Insolvency, Restructuring and Dissolution Act or seek professional advice.
Creditors' Voluntary Winding up
A company may decide to opt for a 'creditors' voluntary winding up鈥� if its directors believe that it cannot, by reason of its liabilities, continue its business. The company will appoint a liquidator, or provisional liquidator, to wind up its affairs and file the necessary notifications required under the Companies Act / Insolvency, Restructuring and Dissolution Act. For more details, please refer to the Companies Act / Insolvency, Restructuring and Dissolution Act or seek professional advice.
Compulsory Winding up
A company may be wound up under an Order of the Court under certain circumstances e.g. the company is unable to pay its debts. The Court may appoint a liquidator to wind up the affairs of the company. Where no liquidator is appointed by the Court, the Official Receiver shall be the liquidator of the company.
The liquidator will file the necessary notifications required under the Companies Act / Insolvency, Restructuring and Dissolution Act. For more details, please refer to the Companies Act / Insolvency, Restructuring and Dissolution Act or seek professional advice.
Simplified Insolvency Programme 2.0 (SIP 2.0)
The SIP 2.0, which commenced on 29 January 2026, offers eligible companies with total liabilities not exceeding $2 million a more straightforward process to either wind up or restructure their debts in an orderly manner. The programme is administered by licensed Insolvency Practitioners. See full list on the Ministry of Law鈥檚 .
There are two separate programmes under the SIP 2.0:
(a) The Simplified Winding Up Programme (SWUP) provides companies with a streamlined procedure for winding up under specific circumstances. It applies in the following scenarios:
(i) Insolvency and cessation of business
The company is insolvent, intends to cease business, and is to be wound up through the passing of a special resolution.
(ii) Dormancy of business
The company has been dormant for at least three consecutive years prior to the date of the directors鈥� resolution, which is passed in lieu of a special resolution if the shareholders required to achieve quorum for an extraordinary general meeting have been uncontactable during the same period.
(b) The Simplified Debt Restructuring Programme (SDRP) enables viable companies to restructure their debts and turn the business around.
Please click for more information on the SIP 2.0. If you have any questions on the programme, please submit an or the Ministry of Law.
Receivership
The property of a company may be placed under receivership, for example, if a receiver is appointed to enforce a charge for the benefit of holders of debentures of the company. For more details, please refer to the Companies Act / Insolvency, Restructuring and Dissolution Act where applicable or seek professional advice.
Judicial Management
If a company, or its creditor(s), considers that the company is/will be unable to pay its debts and there is a reasonable probability of rehabilitating the company, instead of resorting to a winding up, the Court may upon an application, order that the company be placed under judicial management. A judicial manager will be appointed. For more details, please refer to the Companies Act / Insolvency, Restructuring and Dissolution Act or seek professional advice.