Company Strike Off - FAQs

In order to deregister a company in Malaysia, the company must comply with Section 549 of the Companies Act 2016 under the regulation of the Companies Commission of Malaysia (SSM). As experienced providers of corporate and offshore services for many years, we assist clients through this process with accuracy and conformity.

The strike-off procedure is for non-trading private companies with no liabilities or assets. The company should have no legal cases against it, tax dues, or outstanding debts before applying. There would need to be a passed board resolution to authorize the intent of striking off the company.

The procedure involves the filing of Form 68 with SSM, along with a statutory declaration confirming that the company is satisfying all the terms laid down under the law. Additional documents like statements of accounts and tax clearance certificates may be asked for in order to establish that the company is fully inactive and solvent.

Once the application is processed, SSM will issue a public notice in the government gazette. Subject to no objections within 30 days, the company will be officially struck off the register. The entire process normally takes three to six months.

Striking off is a good and cost-efficient option for companies looking to exit the Malaysian market. It needs to be done through the right documentation and adherence to the law. Our professionals provide turnkey solutions for a smooth and risk-free company striking off in Malaysia.

A voluntary strike-off in Malaysia refers to the process of formally removing a company from the official register maintained by the Companies Commission of Malaysia (SSM). It is typically where a company has closed, insufficient activity to comply with its daily obligations or when both shareholders and directors resolves to wind up the company voluntarily. Once struck off, the company ceases to exist as a legal entity

This process is governed by the Companies Act 2016 and administered by the Companies Commission of Malaysia (SSM) based on guidelines for company deregistration. Formal liquidation procedures are more expensive and time-consuming than a voluntary strike-off. The main conditions for a voluntary strike are the following:

• Company has ceased operations for at least 12 months
• No outstanding debts or liabilities (taxes, EPF, SOCSO…)
• No pending legal proceedings
• Directors and shareholders approve the closure
• Not involved in regulated industries (e.g., finance, insurance)

The company must meet the following conditions before making an application for deregistration/strike off.

• All the members of the company agree to the deregistration.
• The company has not commenced operation or business, or has not been in operation or carried on business during the 3 months immediately before the application.
• The company has no outstanding liabilities.
• The company is not a party to any legal proceedings.
• The company has obtained a Notice to Authority/Company Registry.

Also read:

• How long does it take to strike off a company?
• Strike off company

Yes. A company is required to file Annual Returns and observe its obligations under the Companies Ordinance until it has been dissolved. Failure to do so will make the company liable to prosecution.

An application for the restoration can be made to the Court of First Instance or Withdraw. Offshore Company Corp can help you do it!

Winding up is the process of settling the accounts and liquidating the assets of a company for the purpose of making distribution of the net assets to members and dissolving the company.

Deregistration is A defunct solvent company, it is a relatively simple, inexpensive and quick procedure for dissolving defunct solvent companies.

As for striking off, the Registrar of Companies may strike the name of a company where the Registrar has reasonable cause to believe that the company is not in operation or carrying on business.The company shall be dissolved when its name is struck off the Companies Register. Striking off is a statutory power conferred on the Registrar, a company cannot apply for striking off.

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• Strike off company

Depending on the jurisdiction you are incorporated in and the status of your business, it normally it takes 1-2 months, but it may be 5 months for companies incorporated in Hong Kong, Singapore and the UK

Read more: Strike off company

Provided that your company is solvent properly, you can arrange for voluntary liquidation. It is a formal and complete way of winding-up your company. Upon completion, a Certificate of Dissolution will be issued by the Company Registry.

A company that is struck-off the Register will be deemed to be dissolved seven years after strike-off. The company name may be reused at any time after the company is dissolved. If the name of the company has been reused in accordance with the Act, the company is restored to the Register with its company number name.