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Taking care of your dormant company

Not a lot of business activity? We have the suitable product for you. Dormant companies are exempted from certain filing requirement but the qualifying criteria are pretty strict. Opt for our Lite package if you have light business activities.

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Company dormant or lite activity?

Whether your company has no income or expenses or is a small company with light level of business activities, we have the package for you!

Lite activity

Subject to regular compliant requirement including preparation of financial statements and IRAS tax filing

Exempt private company
Not more than 50 transactions for the year
Not more than $200,000 revenue

Dormant

Exempted by ACRA from preparing and laying financial statements at the annual general meeting.

Not a listed company or subsidiary of a listed company
Not more than $500,000 value in asset during the financial year
No revenue, expenses or staff except those fee required for the maintenance of the company
Company maintenance expenses allowed are fees payable to secretary, auditors, payment of any fee or charge under any written law
Directors will need to make a declaration that the company has been dormant for over the financial period
Obliged to inform IRAS when the company resumes business activity

PRICING

Our wholistic compliance package for dormant and lite companies

Reduce cost with our bundles designed for your size of business. We can easily scale up the package as business volume grows.

Dormant Volcano

S$450

Dormant relevant companies with no income or expenses (other than permitted expenses)

12 Months Essential Secretary
Dormant ACRA filing
Dormant IRAS filing
Managing Registers

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Lite Weight

S$900

Full one-stop solution for small companies with light level of business activities

12 Months Essential Secretary
AGM & Annual Return
Managing Registers
Annual Accounting - A50
Unaudited Financial Statement compilation
Tax Filing (ECI & Form C-S)

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Add-ons

Registered Address

S$240

The Corporate Shareholder

S$100 each

Unlimited Standard Resolutions and update of personal particulars

$300 annually

REVIEWS

What others say about us

“I just experienced possibly the best customer experience of all time. I found Sprout online while I was trying to register my company and it turned out to be a wise choice for me. They are available all means of digital channels and respond quite promptly. Thank you, Weng Leong and team, for the help and support. Great Job!! And if anyone of you is looking for corporate service or any such matter look no further.”

Nihar Ranjan

“It was a wonderful wonderful experience having been served by Sprout Asia. From being able to be contactable by phone and online there were also sound advice given. The transactions were really smooth and everything were done over the internet. Most of all the professionalism was remarkable. I honest rate Sprout Asia 5 stars if I can 6. Thanks Jackson.”

Roy Lai

“Highly recommended based on my personal experience. Weng and team were extremely supportive in helping me navigate through many issues that were new to me. Very responsive and helpful in every way. Working with them gives me the reassurance that someone always has my back. Thanks again!”

Ena Yoo

“Since we got in touch till Registration COMPLETED they are very prompt response and did a good job with a very reasonable cost in compare to others.
Thanks guys. It is just a start for long journey.”

Mohd Hassan

Frequently Asked Questions

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).

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