We offer a full range of services to help keep your dormant companies compliant with the laws and regulations. Our team of experienced professionals can help alleviate your team's pressure by assisting you with maintaining your company's statutory records, filing annual returns and more with the best compliance insights and practices.
Why Choose RMS For Dormant Company Compliance
Guaranteed Delivery
We don't miss deadlines, so you won't either.
Expert Advice
Count on us to answer all your compliance concerns.
One-stop Support
Full range of services to support your business.
Dormant Company Packages
Take care of your dormant company with our dedicated accountant services. Choose the plan that suits you.
Dormant Standard Package
Dormant relevant companies with no income or expenses and have only minimal transactions example banking charges in your bank statements apart from statutory and regulatory expenses.
Dormant relevant companies with no income or expenses and have only minimal transactions example banking charges in your bank statements apart from statutory and regulatory expenses.SGD 700.00
What you'll get:
Dormant Management Accounting Report
Dormant Financial Statements (un-audited and non-consolidated)
Should I strike off my company or keep it dormant?
Striking off your company tends to be appropriate where there’s no reasonable prospect of you having a future use for it. However, keeping a company dormant is preferable if there may be future use for the company. This will save the time and cost of incorporating another company again in the future.
What happens if my dormant company starts to have activities?
A dormant company holds this status only temporarily. Once the company starts having activities, they will have to start submitting financial statements and continue to file its Annual Returns and Corporate Tax Returns as an active company.
What qualifies as a dormant company and does it exempt me from all filings?
To put it simply, the Accounting and Corporate Regulatory Authority (ACRA) defines a dormant company as a business that has not conducted any accounting transactions for a given financial period.
However, your business is still allowed to execute a limited number of transactions in its dormant status to assist the business with cost of compliance and a range of administrative expenses. This most notably excludes:
Expenses associated with appointing a company secretary or auditor
Costs of maintaining the registered office
Payments to ACRA for fines, fees or penalties
Maintenance costs of business books and registers
On the plus side, if your company is recognised as a dormant company by ACRA, it will be exempted from submitting financial statements. However, the company will still have to file their Annual Returns, and it must file its corporate tax return in Form C-S/C for Dormant Company via e-Filing.
What is the handover process like if I switch to your secretarial services?
After choosing the package that suits you the best, our team will provide a handover template to be sent to your previous secretary to ensure the proper handover of all secretarial documents and their resignation letter.
After which, we will coordinate with them on the collection of files. Once the resignation letter has been received, we will proceed to lodge the necessary changes with the Accounting and Corporate Regulatory Authority (ACRA).
