Winding up made easier
A simplified programme to wind up your company effectively, if you ever need it.
If your Limited Liability Company (LLC) faces insolvency as a result of Singapore’s economy slowing down and you decide to wind up, you may worry about the actions that need to be taken in order to wind up the company.
Fortunately, Singapore has introduced a Simplified Winding Up Programme (SWUP) for small medium enterprises to aid in the winding up of companies. It serves as a route that makes the winding up process easier by not requiring a court application, not needing to convene a creditors’ meeting and automatic appointment of the Official Receiver as the liquidator.
Applications for the SWUP opened on 29 January 2021 and will close on 28 January 2024. This period is subject to changes as ordered by the Minister for Law and your company may make an application for entry into the programme via the Ministry of Law Insolvency Office E-Services website.
Read our new article to learn:
- Which companies are eligible for the programme
- How to apply for the simplified winding up programme
- What happens when the application for the simplified winding up programme is successful
|Read About the Simplified Winding |
Up Programme for SMEs
We hope that you will find this e-newsletter useful. As always, if you need legal advice on business law-related issues, our Find a Lawyer service will help you find the corporate lawyer you need.
You may also be interested in: Winding Up a Singapore Company: Grounds and Procedures