To avoid company renewal penalties from the Government at difficult times, you have a choice to make the company dormant.
Dormant stage of a Limited Company is live by law, companies with this status is not required to file annual return for Company Registry (CR) but still required to pay Business Registration fee to Inland Revenue Department (IRD).
To request for dormancy company status, 3 resolutions must be prepared to the CR.
- Resolutions of Directors
- Resolutions of Shareholders
- Special Resolutions signed by all Company Members
The company will be dormant in 10-15 working days and will appear in the CR CYBER search as such:
|Company Name:||9999999 LIMITED|
|Company Type:||Private company limited by shares|
|Date of Incorporation:||25-NOV-2010|
Commenced dormancy on 05-Jul-2013