OVERVIEW
The annual renewal fees are the annually recurring government and professional fees that your company must pay in order to continue and maintain the company in good legal standing as per the laws of the state of registration.
Renew Company Registration and License
Scope of services:
Provision of one additional year of registered address services
Provision of one additional year of company secretary services
File review and update
Preparation and filing of annual returns
Payment of the annual registry fees to the authorities and/or registered agent fees
Provision of GCM account manager for the full year
**Updated documents such as renewed business license, filed annual return, confirmation receipt, may only be available after the completion of the renewal.
Failure to pay the annual renewal fees by the due date will result in the company to lose its good standing. Authorities may impose a penalty for late annual fees. The company may be struck off the register after a certain period past the due date, this period is determined by the authorities.
FAQ:
Why are annual renewal fees required?
The annual renewal fees are required in order to maintain your company in good standing and to operate and act on its business activities. All companies are required to pay annual renewal fees in order to maintain its good standing status. Due dates for the annual fee are determined by the jurisdiction in which the company is incorporated in.
What do the annual renewal fees consist of?
Annual renewal fees consist of the following:
- Government fee
- Registered address and registered agent fee
- GCM services fee
What happens if I the renewal fees are not paid?
If a company does not pay the annual renewal fees by the due date, it loses its good standing, and the bank may close its bank account at any time. Authorities may impose a penalty for late annual fees. Also, the company may be struck off the register after a certain period past the due date, this period is determined by the authorities
How do I pay the annual renewal fees?
Payment can be made either by credit card or bank transfer. Cash payments can also be made at our offices, if you find this convenient
How should I properly discontinue usage of the company?
The proper procedure for discontinuation of a company is a voluntary liquidation. For more info please visit our link below:
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Jurisdiction Renewals
| Jurisdiction | Renewal Due date | Penalty in case of late renewal |
| Anguilla | Anniversary date | EUR 50 1-3 Months after anniversary date EUR 100 3-6 Months after anniversary date EUR 600 Restoration fees – Applicable 6 months after the anniversary due date |
| Bahamas | Anniversary date | EUR 50 After the anniversary due date EUR 700 Restoration fees – Applicable as of January 1st the following year from anniversary due date |
| Belize | Anniversary date | EUR 50 After the anniversary due date EUR 600 Restoration fees – Applicable as of January 1st the following year from anniversary due date |
| BVI– First semester companies / January - June | Anniversary date | EUR 50 After the anniversary due date EUR 300 As of August 1st EUR 500 Restoration fees – Applicable as of November 1st of anniversary due date |
| BVI– 2nd semester companies / July - December | Anniversary date | EUR 50 After the anniversary due date EUR 300 As of February 1st following year EUR 500 Restoration fees – Applicable as of May 1st the following year from anniversary due date |
| Canada | Anniversary date | EUR 50 After the anniversary due date EUR 400 Restoration fees – Applicable after 1 year from the anniversary due date |
| Cyprus | Anniversary date | EUR 150 After the anniversary due date Restoration fees are decided by the registry on a case by case basis |
| Delaware | May 31st | EUR 200 As of June 1st EUR 300 Restoration fees – Applicable after 2 years from the anniversary due date |
| Florida | April 30th | EUR 400 As of May 1st EUR 200 Restoration fees |
| Gibraltar | Anniversary Date | EUR 150 After the anniversary due date |
| Hong Kong | Anniversary Date | EUR 150 1-3 Months after anniversary date EUR 250 3-6 Months after anniversary date EUR 500 6-9 Months after anniversary date Restoration fees are decided by the registry on a case by case basis |
| St. Lucia | January 1st | USD 330 15th February - 14th March USD 360 15th March to 14th April USD 450 15th April - 31st December |
| Malta | Anniversary Date | EUR 50.00 42 days after anniversary date Restoration fees are decided by the registry on a case by case basis |
| Marshall Islands | Anniversary date | No late fee penalty on renewal EUR 500 Restoration fees – Applicable after 1 year from the anniversary due date |
| Mauritius (Authorized Company): | July 1st | EUR 400 After July 1st Restoration fees are decided by the registry on a case by case basis |
| Mauritius (GBC 2) | July 1st | EUR 250 After July 1stRestoration fees are decided by the registry on a case by case basis |
| Nevis | Anniversary date | EUR 150 15 days before the anniversary due date EUR 500 6 Months after anniversary dateRestoration fees are decided by the registry on a case by case basis |
| Panama | Anniversary date | EUR 50 After the anniversary due date EUR 300 Restoration fees – Applicable 2 years after the anniversary due date |
| Ras al-Khaimah (UAE) | Anniversary date | EUR 100 90 days after anniversary date EUR 250 120 days after anniversary date EUR 400 150 days after anniversary date EUR 500 Restoration fees – Applicable 6 months after the anniversary due date |
| Samoa | Anniversary date | EUR 100 After the anniversary due date EUR 350 Restoration fees – Applicable 1st Feb of following year |
| Seychelles | Anniversary date | EUR 50 After the anniversary due date EUR 150 90 days after anniversary date EUR 350 Restoration fees – Applicable between 3-6 months after anniversary due date EUR 650 Restoration fees – Applicable 6 months after anniversary due date |
| UK | Anniversary date | No late fee penalty on renewal EUR 500 Restoration fees – Applicable after 1 year from the anniversary due date |
| Vanuatu | Anniversary date | EUR 100 After the anniversary due date EUR 300 Restoration fees – Applicable after 6 months from the anniversary due date |
| St Vincent | January 1st | EUR 50 Per month EUR 300 Restoration fees – Applicable after 1 year from the anniversary due date |
GCM makes company renewal a straightforward process. The annual fees payable by your company not only cover the maintenance and continuous good standing of your company, but also include a dedicated GCM account manager to handle all your queries and ensure compliance with local regulations.
Browse through our jurisdictions list to find the best country or jurisdiction for company formation that will suit your company’s unique requirements and business goals.
Each jurisdiction offers unique advantages and our team can help you navigate the many options at your disposal, including advising you on corporate structure and regulatory compliance.
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