Annual Requirements of a Dormant Company

Even as a dormant company, there are still filing requirements to both ACRA and IRAS. Engage a professional to manage these for you.

The complete requirements for a dormant company

Your Dormant Company
Compliance Includes

Company Secretary

A qualified Company Secretary will be appointed for your dormant company.

Annual Returns Filing

Your new Secretary will help file your annual returns to ACRA each year. We’ll pay the $60 filing fee.

IRAS Tax Filing

We’ll assist with the application for waiver of income tax, or continue to file your Form C-S every year of assessment (YA)

Simplified Package for Dormant Companies

Everything you need, as a dormant company to meet its annual requirements from ACRA and IRAS.

In a nutshell

Am I a Dormant Company?

IRAS and ACRA both classifies Singapore dormant companies differently. You may be dormant to IRAS, but not to ACRA.

You would be considered a dormant company to IRAS if you have no sales, no revenue, and no income for the accounting period. Whether or not you have expenses does not matter. IRAS is only concerned whether or not the company has income.

On the other hand, ACRA would only consider a company as dormant, if it has both no income, and no expenses. Statutory compliance expenses such as accounting or company secretary fees are allowed.

Compliance for Dormant Companies

Even as a Dormant Company, the filing requirements to both IRAS and ACRA applies.

To ACRA – Dormant Private Limited Companies must continue to file the annual returns within 7 months from its Financial Year End (FYE)

To IRAS – Dormant Private Limited Companies must continue to file its ECI and Form C/C-S for each year of assessment. If the company has applied, and been granted a waiver to file income tax, then it does not need to do so.

Comply to the filing requirements of a dormant company at just $650 / year.

  • Company Secretary Essential Appointment
  • ACRA Annual Returns Filing
  • IRAS ECI and Form C-S/C Computation and Filing
  • IRAS Waiver to File Income Tax Application
  • Accounting & Bookkeeping (up to 50 transactions)
  • All fees inclusive

Complete Solution for Dormant Companies

Our compliance package includes every IRAS and ACRA related compliance matters for dormant companies.

Everything you need at a transparent price. No additional fees.

Complete Solution for Dormant Companies
Years of Expertise 2

Years of Expertise

Tap into our team of experts that are able to advise you when you intend to resume your business again.

For compliance related matters. speak with your dedicated account manager, who is also your company secretary, available 24/7.

Complete Solution for Dormant Companies

Complete Solutions for Dormant Companies

Our compliance package includes every IRAS and ACRA related compliance matters for dormant companies.

Everything you need at a transparent price. No additional fees.

Years of Expertise 2

Years of Expertise

Tap into our team of experts that are able to advise you when you intend to resume your business again.

For compliance related matters. speak with your dedicated account manager, who is also your company secretary, available 24/7.

Get Started in
3 simple steps

1

Answer some basic questions

Send us an enquiry or checkout and complete our simple questionnaire to allow us to better understand your business. If you need assistance, contact us directly and one of our experts will walk you through the process.

2

Get started

We'll keep track of your deadlines, and meet your filing requirements before the due date. Sit back, and be notified upon completion.

Get Started @ $650 / yr

Inclusive of annual returns filing fee of $60. No Surprises.

Complete Package for Dormant Companies

  • Company Secretary Essential Appointment
  • ACRA Annual Returns Filing
  • IRAS ECI and Form C-S/C Computation and Filing
  • IRAS Waiver to File Income Tax Application
  • Accounting & Bookkeeping (up to 50 transactions)
  • All fees inclusive

Frequently Asked Questions

Does my company needs to be audited?

Dormant Private Limited Companies in Singapore are exempted from the requirement to be audited. 

There is no need for your accounts to be audited as a dormant company.

Do I have to prepare my financial statements?

If your dormant company:

  • Have total assets value less than SGD $500,000
  • Has been dormant since incorporation, or since the start of its financial year. In order words, did not become dormant during its course of its financial year period.
  • Director declaration to ACRA that company is dormant.
     

Then, both the preparation of financial statements and holding of AGMs (unless specifically requested by its members) are not required.

Why do I have to file my company taxes even if it is dormant?

This is a common misconception that dormant companies do not need to file its taxes. It is a blanket statement that must not be applied to companies just because they have a “dormant” status.

You won't need to file your dormant company taxes only if you have previously applied, and have granted approval for the waiver to file income tax to IRAS. Otherwise, even as a dormant company you must continue to file the ECI and Form C/C-S for every year of assessment (YA).

If you choose to, we can assist with the income tax waiver, once you have read the eligibility criteria.

Can I resume business after being dormant?

Yes, you can. At any time, your company may resume business.

The only requirement is to inform IRAS through email within 1 month from the recommencement of business and/or receiving income.

Should I strike off my dormant company instead?

If you intend to not continue business anymore - you may consider to strike off the company entirely. This will help eliminate the running costs of the company such as compliance requirement amongst others.

Ultimately, whether to strike off or not, depends on whether you intend to continue running the business. If the company is dormant only as temporary halt to business, and eventually intend to resume operations – you should not strike off the company.

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