Dormant Company

A company registered in Singapore but not conducting any business activities and having no business income or expenses is considered a dormant company.

ACRA's corresponding policies

Dormant companies are exempted from preparing financial statements Dormant companies are exempted from holding annual shareholders' meetings Dormant companies are required to submit annual audits

IRAS corresponding policy

Dormant companies are exempted from filing ECI. Dormant companies are exempted from filing income tax if the following conditions are met: The company does not carry out any business activities and does not have any income. The company does not have any investment projects, such as real estate, stocks and fixed deposits, etc. If the company has investment projects, it cannot make any profit from the investment. The company must have been deregistered for GST.