Business Secretary
2018-05-19
Trade Mark Renewal
2018-05-31
Business Secretary
2018-05-19
Trade Mark Renewal
2018-05-31
Dormant Company

Dormant Company

A dormant company is a company registered with ACRA (Accounting and Corporate Regulatory Authority) in Singapore, which has had no business activities in the past financial year and has no business income or business expenses (other than the basic expenses of keeping the company afloat). Such a company can be considered dormant.

 

ACRA and the Inland Revenue Authority of Singapore also have policies in place for dormant companies.

 

ACRA：

Dormant companies:

  1. Are exempt from preparing corporate financial reports
  2. Can be exempted from holding annual general meetings
  3. Must still file an annual audit return, but the filing process is simpler.

【新加坡公司注册小知识】新加坡企业合规要求之休眠公司呈报要求

IRAS：
  1. Dormant companies are exempt from filing ECI estimated tax returns
  2. Dormant companies are still required to file corporate income tax returns, but companies that meet the following conditions can apply for an exemption from filing tax returns:
    • The company has not conducted business or generated any income.
    • Until it ceases business activities, the corporation has filed a Form C-S or C, financial statements, and tax calculations.
    • The corporation may not own any investments (e.g., stocks, real estate, time deposits).  If the company owns investments, it must not derive any income from those investments.
    • The company must have cancelled its GST registration. (The company is not a GST-registered company at the time of filing the tax exemption)

The company does not expect to resume operations for the next two years.

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Singapore FOZL Group Pte. Ltd.
Accounting and Corporate Regulatory Authority of Singapore licensed corporate advisory firm.
Singapore Company Registration, Annual Return, Accounting & Tax
Trademark Registration, Corporate Advisory, Serviced Offices.
6 Raffles Quay，#14-02， #14-06， Singapore 048580