We take care of your Dormant Company’s filings

Here’s what our customers say

• What’s a dormant company?

  Your company becomes dormant if you haven’t had any transactions or income for a year. The year, in this case, is your tax evaluation period, not a calendar one.

• What are my responsibilities with a dormant company?

  You still need to submit your annual tax return, that’s how IRAS (tax authority) knows you are actually dormant. You also need to hold an Annual General Meeting (AGM). You don’t have to gather physically, releasing necessary documents is enough.

• How do I apply for Dormant company?

  The procedure to notify the Authorities (ACRA & IRAS) about your company’s dormancy status is, in essence, preparing your annual filings accordingly. The most important part is to make sure that you comply with the requirements for Dormant of each authority. When providing this service, we make sure that all the requirements are fulfilled and take care of the filings.

• What does the process look like?

  When the time comes for your annual filings and AGM preparation, we’ll send you all documents in a chat. You don’t have to keep these deadlines in your mind.

• Can I use my dormant company again later?

  Sure, you just need to inform IRAS within a month after you go back to business. We’ll do that for you.

• Why would I keep a company Dormant if I can close it?

  If you want to close down your Singapore business, we can assist you to strike it off. However, if you do not rule out that you might use this company again, consider keeping it Dormant. It makes sense if you have a brand name, licenses or patents related to it. You can also use it to strategically hold investments in Singapore, however, you may not derive income from them.

• How to file for annual return for a dormant company?

  File your annual return, or income tax returns, for your dormant company using Form C-S or Form C for Dormant Company online through the e-Service at mytax.iras.gov.sg e-Filing. Your company’s director, company secretary, or registered filing agent can do this annual return filing for you. If you want to do it yourself, make yourself an “Approver” through CorpPass.

  You can also apply to IRAS for a waiver to be exempted from filing an annual return.

  Check if you qualify:

  • All financial statements and taxes for when the company was active have been filed
  • Your company does not own any investments that generate revenue or income;
  • You don’t intend to carry out any business transactions for the next two years
  • You have de-registered for Goods and Services Tax (if you had registered for it)

  Additionally, you don’t have to prepare financial statements from ACRA if you fulfil these three things:

  • Your company is not a listed company or a subsidiary of a listed company
  • Your company holds no has less than S$500,000 in assets
  • Your company has been Dormant since the formation of the end of its previous financial year.

• Can a dormant company hold assets?

  Yes, it can. However, the assets of your dormant company cannot exceed S$500,000.