Leftirght Mobile Logo

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.

Maintain your Dormant Company
at $650 / year

All fees included. No Surprises.

Annual Dormant Company Compliance $650

Simplified Compliance for a low flat fee

What's Included?

Simplified Package for Dormant or Inactive Companies

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

The complete requirements for a dormant company​

Your Dormant Company
Compliance Includes

Qualified Secretary

We will appoint a Local qualified individual to be registered in your Company ACRA records.

ACRA Compliance

Every company must appoint a company secretary. Our qualified professional local Singaporean will meet this requirement.

Annual Returns Filing

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

Deadline Reminders

We monitor, and keep you informed on your company’s annual compliance deadlines. This includes Annual Returns, ECI, Tax, and numerous more.

AGM Preparation

Whether your company is exempted from, or have decided to dispense the AGM entirely – we’ll prepare the necessary resolutions.

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)

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 or Inactive 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.

Leftright Corporate Dormant Company Annual Compliance

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

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.

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

We take care of the paperwork

Our compliance experts will provide you with an overview of the company’s compliance, set up the required documents, and proceed with the necessary accoutning & filings.

3

You're all set!

We’ll keep track of your deadlines, and meet your filing requirements before the due date. Your dormant company’s compliance will be managed seamlessly, allowing you to focus on what matters. Rest easy knowing that your business is in good hands.

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.

Trusted by Our Clients

4.9 out of 5 stars on Google
5/5

Our clients’ feedback means the world to us, and their words speak for themselves. Find out why they choose us and get a glimpse into their experiences with our services.

 

Mas Gnat
Read More
"A great company with speed respond. All questions answer and add on bonus information to allow business owners to plan well and accurate for annual filing. Which is always the most critical and important for any business .
Highly recommended for their services .
Fair priced and efficient work!"
Timothy Jurn
Read More
"I recently used their service to incorporate my new company, and I was very impressed with their service. They were fast and responsive, and they made the whole process very easy for me. They answered all of my questions in a clear and concise way, and they helped me to understand the entire incorporation process.

I would highly recommend their service to anyone who is looking to incorporate a business. They are fast, responsive, and knowledgeable, and they will make the whole process as easy as possible for you."
Choon Heng Tew
Read More
"I just switch over to Left-Right from another secretary firm. Lisa is patience & easy to get in touch with in helping me to make a smooth switch.
For SME company like mine, we need someone dedicated to hear our issue and provide professional opinion, so far, Lisa had deliver it to me. Thanks to Lisa."
Clarence Chua
Read More
"Had been using their services all along and would continue to use them as they are professional."
Eugene Wong
Read More
"Lisa is very attentive to details and prompt with replies and follow up. So far it has been a pleasant sign up experience with them and I'm already glad we switch over to them for our Corporate Secretary services."
Previous
Next
Corporate Compliance

Complete Guide to DPO (Data Protection Officer) in Singapore: Duties, Criteria, and Compliance

Corporate Compliance

How to Appoint a DPO (Data Protection Officer) Singapore

Corporate Compliance

Timeline of Compliance for New Companies

Corporate Compliance

Guide to Audit and XBRL Requirements in Singapore 2024

Corporate Compliance

What to Prepare Before the End of Your Company’s Financial Year End (FYE)

Need additional assistance?

Contact our experts with any additional questions.

General Contact Us
Enter Email
Confirm Email

We value your time as much as ours.

Someone will be making it their life’s mission to reply within 24 hours. Alternatively, you may reach us at:

e: [email protected]

Line 1: +65 3159 4755
Line 2: +65 6708 8255

a: 190 Clemenceau Avenue, #06-01, S(239924)