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A company is considered ‘dormant’ if it has ceased trading and does not receive any form of income. It will still be registered at Company Registry and you will be required to file annual accounts and a confirmation statement. Reasons why a company may be dormant include:
  • reservation of company name prior to launching a business

  • restructuring of a formerly active business

  • if the owner needs to take an extended period of leave

  • it is acting as a holding company for intellectual property or other assets

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