Dormant Company
A dormant company is one that has formally declared to the Companies Registry, by special resolution, that it has had no relevant accounting transactions since its formation or since its last dormancy declaration.
Under section 5 of the Companies Ordinance, a Hong Kong private company limited by shares may declare itself dormant if it has no relevant accounting transactions. A dormant company is exempt from several statutory obligations, including preparing annual financial statements and holding annual general meetings. It must file a further special resolution to end dormancy before resuming activity.