Dormant Companies

Notwithstanding that the company is no longer in operation or has ceased business activities, a dormant company has to file its annual return with ACRA. It also must submit its Income Tax Return unless the company has been granted a waiver.

A dormant company has to notify ACRA of changes in the company, e.g. the appointment or cessation of directors, change in the registered office address, allotment of shares, etc. In addition, it is also still required to have a company secretary as the Companies Act states that the position of company secretary must not be left vacant for more than 6 months.

If the company fails to comply, penalties and summons may be issued against a company director, as prescribed in the Companies Act, Cap 50.  Therefore,  the company should engage the services of a corporate secretarial or tax agent to make sure everything is in order to avoid enforcement actions from ACRA or IRAS.

If you need more information about dormant or active company matters, hire a reliable corporate secretary in Singapore!


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