A commodity trader switches registered agent to OCC and cuts annual cost

The situation

The client is a company dealing in commodities trading with its base in UAE, and which uses a Seychelles company for some of its international business transactions.

However, the working relationship between the client and the registered agent has become inefficient in terms of slow response times and unclear renewal information.

The client needed:

• to appoint a new registered agent;
• for more efficient responses and documentation services;
• better and clear information on renewals and services;
• organizing of the company's current corporate documents; and
• avoid unnecessary service fees.

What we set up

After analyzing the status of the company and its documents, OCC helped the client with the registered agent change for the Seychelles company.

Registered agent change

OCC assisted the client with the switch of the agent and prepared all necessary documentation for the change of the agent.

Corporate record review

During the transfer, OCC checked the documents related to the company and the records that had to be reorganized or updated. Thus, the client got a better view on the company documentation without the need to use fragmented information from the old service provider.

Renewal and ongoing support

OCC also gave a clearer picture of the annual scope of services including registered agent support, registered office needs and renewal coordination. The new service agreement gave the client a better view on recurring company administration and its annual expenses.

The transfer took 16 days.

The result

With the completion of the registered agent transfer, the client had better access to his company administration and a more streamlined renewal process.

This move has also enabled the client to examine the past services provided and get rid of some of the services which are not needed anymore.

In the first year of the renewal process, the client:

• completed the registered agent transfer within 16 days;
• consolidated corporate records through the new service agreement;
• got an annual renewal scope before the next renewal date;
• reduced annual registered agent and administration fees by around 22%; and
• got a streamlined process for document requests and follow-ups.