Document background
The Letter of Intent for Closing Business is a crucial document used when a company in Singapore decides to cease operations. It serves as the first formal step in the business closure process, providing notice to relevant stakeholders and outlining the intended approach to winding up operations. This document is particularly important in Singapore's highly regulated business environment, where specific statutory requirements must be met for proper business closure. The letter typically addresses key aspects such as timeline, asset disposition, employee matters, and regulatory compliance, while demonstrating commitment to following proper closure procedures under Singapore law.
