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A dormant company is one that has been incorporated at Companies but is not currently carrying on any kind of business activity or receiving any form of income. Dormant company status is mainly obtained for companies registered to hold an asset or intellectual property and have no significant accounting transactions. It is defined in Comapnies Act 2013. Therefore, any company that wishes to be only an asset company or have no significant business activities can apply and become a dormant company.
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