What are dormant companies?

Dormant companies do not have any accounting transactions for financial period, or has not started business since its inception.

Accounting transactions are not limited to the following:

  • the taking of shares in the company by a subscriber to the memorandum in pursuance of an undertaking of his in the memorandum;
  • the appointment of a secretary of the company under section 171;
  • the appointment of an auditor under section 205;
  • the maintenance of a registered office under sections 142, 143 and 144;
  • the keeping of registers and books under sections 88, 131, 173, 189 and 191;
  • the payment of any fee specified in the Second Schedule or an amount of any fine or default penalty paid to the Registrar under section 409(4).