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. Annual fees are also required to maintain the registered address of the company. As part of the incorporation price that you have paid, GCM offers an official registered address for your company.

Annual renewal fees consist of the following:

• Government fee
• Registered address and registered agent fee
• GCM services fee

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

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

The proper procedure for discontinuation of a company is a voluntary liquidation. For more info please visit our link below:
https://gcmcompanyformation.com/company-dissolution/

This depends on the jurisdiction of incorporation – i.e. on the applicable procedure – and on the status of the company’s business. For simple cases where companies have no liabilities and where all documents are up to date, the process generally takes about 45 days. For more complex cases, the process can take up to one year.

You will be asked to settle the yearly fees prior to each anniversary of your company, not at the end of each calendar year. There may however be exceptions where a jurisdiction requires the annual fees to be paid at a fixed calendar date. To avoid any last minute rush, we will send you a renewal invitation two months before the anniversary.