Dormant Company Annual Compliance Package @ $650 / yr

Dormant Company Compliance Checkout
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Frequently Asked Questions

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.

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.

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.

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.

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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