What is a Dormant Company?
A Dormant Company in Singapore is a company that hasn’t had any significant accounting transactions for a financial year. By declaring your company as dormant to the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS), you can maintain your legal entity status without spending too much money on running an active venture.
This can be very helpful if you’re planning on starting a business someday but aren’t ready to launch just yet. Aptvise is here to help you meet all the statutory requirements so that you don’t face any penalties or legal troubles later down the line.