Winding up a local company
Learn the formal process to wind up a local company, including settling debts, appointing a liquidator, and filing required ACRA notifications.
Last updated 29 January 2026
What is winding up
Winding up is the formal process for closing a local company that has debts to settle. It involves:
Settling all debts and obligations
Distributing remaining assets to partners
Filing required legal notifications with ACRA
Tip: Before you wind up, you may want to explore other ways to manage your debt first. Learn more about available options and processes when a company is unable to repay its debts.
Ways to wind up
Based on your company's financial health, there are four ways to wind up:
Ways to wind up
Type of winding up | Details |
|---|---|
When this applies: Directors believe the variable capital company (VCC) can pay all debts within 12 months of starting the winding up process. Requirements: The company must appoint a liquidator or provisional liquidator to wind up its affairs. It must also file necessary notifications under the Companies Act 1967 (CA) or Insolvency, Restructuring and Dissolution Act 2018 (IRDA). | |
Simplified Winding Up Programme (SWUP): A simplified creditors' winding up process under the Simplified Insolvency Programme (SIP) | When this applies: A micro or small company cannot pay its debts and wants to wind up. Definitions:
|
When this applies: Directors believe that the company cannot continue its business due to its debts. Requirements: The company must appoint a liquidator or provisional liquidator to wind up its affairs. It must also file necessary notifications under the CA or IRDA. | |
When this applies: The Court orders winding up under certain circumstances. For example, when the company cannot pay its debts. Requirements: A liquidator must file the necessary notifications under the CA or IRDA. The Court may appoint a liquidator (or the Official Receiver may act as a liquidator). |
Note: For more details, please refer to the CA or IRDA, or seek professional advice.
After you apply for winding up
You can use the Manage winding up eService to:
File a notice of appointment of a provisional liquidator or liquidator
File a notice of cessation of a provisional liquidator or liquidator
File a liquidator’s account of receipts and payments, and statement of position in winding up
More details: