{"id":685,"date":"2023-06-12T14:51:58","date_gmt":"2023-06-12T14:51:58","guid":{"rendered":"https:\/\/opencompanysingapore.com\/?p=685"},"modified":"2023-10-13T04:30:47","modified_gmt":"2023-10-13T04:30:47","slug":"company-liquidation-in-singapore","status":"publish","type":"post","link":"https:\/\/opencompanysingapore.com\/company-liquidation-in-singapore\/","title":{"rendered":"Company Liquidation in Singapore"},"content":{"rendered":"\n

Foreign investors coming to Singapore can start various types of companies, however, not every business opportunity<\/strong><\/a> is a success, and, in such cases, the owners are required to terminate their operations. This is procedure is called company liquidation<\/strong> and can be completed voluntarily or compulsory<\/strong>, based on the reasons to wind it up.<\/p>\n\n\n\n

Liquidation in Singapore<\/strong> is a rather complex procedure, which is why it is best to ask for support. Our company formation agents in Singapore<\/strong><\/a> can offer assistance in both types of liquidation procedures<\/strong>, so do not hesitate to reach out for guidance.<\/p>\n\n\n\n\n\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t
\n\t\t\t\t Quick Facts<\/th>\n\t\t\t\n\t\t\t\t <\/th>\n\t\t<\/tr>\n\t<\/thead>\n\t
\n\t\t\t\t  Applicable laws<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\tCompany Law, Insolvency, Restructuring and Dissolution Law<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

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\n\t\t\t\t\tTypes of procedures<\/p>\n\t\t\t<\/td>\n\t\t\t

\n\t\t\t\tVoluntary and compulsory (court) procedures<\/td>\n\t\t<\/tr>\n\t\t
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\n\t\t\t\t\tReasons for liquidation<\/p>\n\t\t\t<\/td>\n\t\t\t

\n\t\t\t\t Loss of profits, incapacity of paying debts, shareholders disputes, company restructuring, offenses committed by company directors, etc.<\/td>\n\t\t<\/tr>\n\t\t
\n\t\t\t\tVoluntary liquidation requirements<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\tThe decision is made by the shareholders who decide the company can pay its debts within 12 months.<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\tCompulsory liquidation requirements<\/td>\n\t\t\t\n\t\t\t\tThe procedure is initiated by creditors who have not received their payments, or if the court decides the company no longer meets legal operational requirements.<\/td>\n\t\t<\/tr>\n\t\t
\n\t\t\t\tLiquidator appointment requirements<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\tIn voluntary liquidation, the officer is appointed through a shareholders' decision. For compulsory liquidation, the officer is appointed by the court.<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\tRequirements for foreign companies operating in Singapore<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\tSubsidiaries are liquidated in accordance with Singapore laws. Branches must also respect the parent company's country laws.<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\tLicense cancelling requisites (YES\/NO)<\/td>\n\t\t\t\n\t\t\t\tYES, if special licenses or permits have been obtained<\/td>\n\t\t<\/tr>\n\t\t
\n\t\t\t\tTrade Register deletion requirements (YES\/NO)<\/td>\n\t\t\t\n\t\t\t\tYes<\/td>\n\t\t<\/tr>\n\t<\/tbody>\n<\/table>\n\n\n\n
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