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FAQs  Closing a Business


When does ACRA send the cancellation notices?

The cancellation notices are sent when the business registration has expired and has not been renewed. The notices are usually sent about 2 - 3 months after the expiry date.



I have received a cancellation notice from ACRA but have no intention to renew my business registration. Do I need to notify ACRA or take any further action?

We sent the cancellation notice because our records show that the business registration has expired and has not been renewed. We are therefore assuming that the business is dormant and that the owner has no intention to carry on business.
We will proceed to cancel the business registration once the grace period of one month (given in the cancellation notice) expires. There is no further action required on your part.



What should I do if I receive the cancellation notice and I do not wish to continue my business?

ACRA will automatically cancel the business registration one month after the expiry of the cancellation notice. There is no further action required on your part.



I received a Cancellation Notice and wish to renew the business registration. Is this possible?

Yes. Please log into www.bizfile.gov.sg using your ID No and SingPass to renew your business registration. A penalty will be imposed for late renewal



My business has been cancelled. How can I revive it?

The business registration has been cancelled and the Registrar is unable to reinstate the business as there is no provision in the Business Registration Act empowering the Registrar to do so. You may choose to register a new business using the same name. The fee payable is $65.
On the other hand, you may choose to submit an appeal to the Minister of Finance through ACRA for the reinstatement of the business registration. You will have to send your appeal in writing (setting out the grounds for the appeal) and pay an appeal fee of $50 via cheque made payable to ACRA. This letter is to be addressed to the Registrar, ACRA.



How do I close my business?

If you no longer intend to continue with your business and have decided to close it, there are 2 ways in which you can close the business; you may choose to file a Notice of Termination or a Notice of Cessation. There are some differences between terminating a business and submitting a notice of cessation, which are given in the following:
1. When you file the notice of termination online, you have to pay a filing fee of $20. However there is no fee payable for filing the notice of cessation.
2. Termination requires the endorsement (consent) of all the partners but cessation can be filed by any one partner.
3. The date of termination can be decided by the owners and it has to be a date before the date of expiry of the business registration. However the date of cessation is the date of expiry of the business registration and cannot be changed to another date.
If you are able to wait until the expiry of the business registration and then close the business, we would advise you to submit a notice of cessation. However, if for any reason, you need to close the business immediately, then you will have to submit the notice of termination online and pay the filing fee of $20.



I do not wish to carry on business. How can I close my business firm?

You can choose to terminate the business or submit a notice of cessation. Both transactions must be lodged online via www.bizfile.gov.sg.



What is the difference between termination and cessation of business?

Termination carries a $20 filing fee whilst the notice of cessation is free of charge. Termination can be done anytime before the expiry of the business registration but cessation can only be filed after the expiry of the business registration. Termination needs the consent of all the partners but the notice of cessation can be submitted by any one partner.



I do not wish to carry on business after the expiry of the business registration. What can I do to close the business?

You can submit a notice of cessation online via www.bizfile.gov.sg. There is no fee payable.



My business registration has expired and I have received a cancellation notice from ACRA. I do not wish to carry on business. What should I do?

You need not do anything. ACRA will cancel the business registration when the grace period given in the cancellation notice expires.



My business registration has expired. Will ACRA cancel the business?

Yes. We will send you a cancellation notice giving you a grace period of one month to renew the business registration. If you fail to do so, we will cancel the business registration.



I have terminated the business online and paid the filing fee of $20. Why does the business profile show that the business is still live?

One possible reason is that the other partners of the business firm have not logged into the system using their ID No and SingPass to endorse or consent to the transaction. Please advise them to attend to this matter immediately so that the status of the business firm can be updated accordingly.



I terminated my business registration by mistake. Can I undo the termination?

No. You may choose to register a new business using the same name as the previous business. This is on condition that the partners of the new business were also the partners of the previous business.



I want to close my business. Do I need to secure the consent of my partners?

For termination, you need the consent of all the partners. For cessation of business, no such consent is required.



I want to close the business but cannot locate my partners. How can I close the business?

If you are terminating the business, you can make an online declaration setting out the reasons why you are unable to contact the partners. You may choose to file a notice of cessation which does not require the consent of the partners.



What is the fee for terminating a business?

For terminating the business, the fee is $20.



What is the fee for filing a notice of cessation?

There is no fee payable. This service is free of charge.



I have terminated my business. Can I register a new business using the same name?

Yes; provided the partners of the new business were also the partners of the previous business.



ACRA has cancelled my business registration. Can I still carry on business?

No. It is an offence to carry on business once the registration has been cancelled. If you want to carry on business, please register a new business using the same name as the previous business; provided the partners of the new business were also the partners of the previous business.



I have terminated the business. Will ACRA inform the other agencies?

No. It is the responsibility of the business owner to notify the other agencies accordingly.




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