Financial due diligence helps you to understand the nature of a deal and the risks involved.

It is essentially, doing your “homework” before getting into a deal, whether as a “buyer” or preparing for financial due diligence as a “seller”. We have heard stories about undisclosed commitments or liabilities, actual assets value below what is stated in the accounts, actual revenue, profit lower than stated and many more.

Before you proceed to submit your application for striking of your company, you need to ensure that you meet the following criteria:

• The Company has ceased business or has not commenced business since incorporation
• The Company has no outstanding liabilities or contingent liabilities (any government agency or third parties)
• The Company is not involved in any legal proceeding (in or outside Singapore)
• The Company is not subject to any ongoing or pending regulatory action or disciplinary proceedings
• All / majority of the director(s) authorises you to submit the application for striking off

We will be able to assist you with this process.