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Company Renewal

Overview

As your Registered Agent/Company Secretary, it is our duty to remind & support you to renew and comply with any legal requirement asked by the Government.

Renewal is a must to all company, in order to keep its good standing status with the Government, maintain the business and also the company bank account.

Depend on each Jurisdiction, the annual due date will be different and we will remind you on time about this to avoid any penalty fee.

To find out about the annual due date of your company, please see the below Fees Schedule for more information.

Scope of Services

  • Reminder emails/letters about the annual due date.
  • Inform any news/legal requirements asked by the Government.
  • Provision of Company Secretaries, Registered Address.
  • Preparation and filing of annual returns.
  • Preparation and filing of licence applications (if any).
  • Preparation, filing and payment of Government fees.
  • Depend on the Jurisdiction, Accounting & Auditing will be required (Hong Kong, Singapore or UK, etc).
  • Updated documents such as Business License, Annual Return, Confirmation Receipt, etc will be provided after finishing the Renewal process.

Legal Action against non-renewal company

Non-payment of annual renewal fees will incur severe late penalties, legal consequences and at risk of frozen Bank account.

Example: For Hong Kong company, the Annual Return must be filed within 42 days since the anniversary date of incorporation. An additional fee will be charged if the filing date is passed and will increase for each period. Failure to comply, the company and the officer(s) will be liable for fine or receive a summon letter from Hong Kong High Court.

In the worst case scenario, the company may be at risk of struck-off by not arrange the Annual Renewal fee on time.

Fee Schedule

Asia Pacific

Hong Kong Hong Kong
Type Of Incorporation Fees Due Date
Company Limited by Shares (recommend) US$ 799.00
  • Government fee: US$ 238
  • Service fee: US$ 561
Anniversary date
Company Limited by Guarantee US$ 589.00
  • Service fee: US$ 238
  • Government fee: US$ 561
Anniversary date
Singapore Singapore
Type Of Incorporation Fees Due Date
Exempt Private Limited Company (Pte Ltd) US$ 2,384.00
  • Service fee: US$ 399
  • Government fee: US$ 995
  • Local Director: US$ 990
Anniversary date
Public Limited Company US$ 2,384.00
  • Service fee: US$ 399
  • Government fee: US$ 995
  • Local Director: US$ 990
Anniversary date
Samoa Samoa
Type Of Incorporation Fees Due Date
International Company (IC) US$ 889.00
  • Service fee: US$ 489
  • Government fee: US$ 400
30 November of each year
Marshall Islands Marshall Islands
Type Of Incorporation Fees Due Date
International Business Company (IBC) US$ 820.00
  • Service fee: US$ 420
  • Government fee: US$ 400
Anniversary date
Limited Liability Company (LLC) US$ 1,240.00
  • Service fee: US$ 740
  • Government fee: US$ 500
Anniversary date
Vanuatu Vanuatu
Type Of Incorporation Fees Due Date
International Company (BC) US$ 1,790.00
  • Service fee: US$ 890
  • Government fee: US$ 900
Anniversary date

Europe

United Kingdom United Kingdom
Type Of Incorporation Fees Due Date
Private Limited US$ 624.00
  • Service fee: US$ 259
  • Government fee: US$ 365
Anniversary date
Public Limited US$ 624.00
  • Service fee: US$ 259
  • Government fee: US$ 365
Anniversary date
LLP US$ 624.00
  • Service fee: US$ 259
  • Government fee: US$ 365
Anniversary date
Switzerland Switzerland
Type Of Incorporation Fees Due Date
Limited Liability Company US$ 8,810.00
  • Service fee: US$ 2,400
  • Government fee: US$ 6,410
Anniversary date
Stock Corporation US$ 8,810.00
  • Service fee: US$ 2,400
  • Government fee: US$ 6,410
Anniversary date
Sole Proprietorship US$ 8,810.00
  • Service fee: US$ 2,400
  • Government fee: US$ 6,410
Anniversary date
Cyprus Cyprus
Type Of Incorporation Fees Due Date
Private Limited US$ 2,499.00
  • Service fee: US$ 1,299
  • Government fee: US$ 1,200
30 June of each year
Gibraltar Gibraltar
Type Of Incorporation Fees Due Date
Private Limited by Shares US$ 1,515.00
  • Service fee: US$ 715
  • Government fee: US$ 800
Anniversary date
Malta Malta
Type Of Incorporation Fees Due Date
Private Limited Liability Company US$ 2,590.00
  • Service fee: US$ 1,390
  • Government fee: US$ 1,200
Anniversary date
Luxembourg Luxembourg
Type Of Incorporation Fees Due Date
Soparfi Holding US$ 7,900.00
  • Service fee: US$ 4,400
  • Government fee: US$ 3,500
Anniversary date
S.A.R.L: Private Limited Company US$ 11,900.00
  • Service fee: US$ 8,400
  • Government fee: US$ 3,500
Anniversary date
Liechtenstein Liechtenstein
Type Of Incorporation Fees Due Date
AG US$ 8,998.00
  • Service fee: US$ 4,499
  • Government fee: US$ 4,499
Anniversary date
Anstalt US$ 8,998.00
  • Service fee: US$ 4,499
  • Government fee: US$ 4,499
Anniversary date
Netherlands Netherlands
Type Of Incorporation Fees Due Date
Limited Liability Company (LLC) US$ 4,099.00
  • Service fee: US$ 2,299
  • Government fee: US$ 1,800
Anniversary date

America - Caribbean

British Virgin Islands British Virgin Islands
Type Of Incorporation Fees Due Date
Business Company (BC) US$ 1,069.00
  • Service fee: US$ 469
  • Government fee: US$ 600

31 May next year (Incorporation from 01 January to 30 June)

30 November next year (Incorporation from 01 July to 31 December)

Cayman Islands Cayman Islands
Type Of Incorporation Fees Due Date
Exempted (Limited by Shares) US$ 2,829.00
  • Service fee: US$ 1,529
  • Government fee: US$ 1,300
31 December of each year
Limited Liability Company (LLC) US$ 3,350.00
  • Service fee: US$ 1,850
  • Government fee: US$ 1,500
31 December of each year
Delaware (United States of America) Delaware (United States of America)
Type Of Incorporation Fees Due Date
Limited Liability Company (LLC) US$ 649.00
  • Service fee: US$ 249
  • Government fee: US$ 400
Anniversary date
Corporation (C-Corp or S-Corp) US$ 649.00
  • Service fee: US$ 249
  • Government fee: US$ 400
Anniversary date
Belize Belize
Type Of Incorporation Fees Due Date
International Business Company (IBC) US$ 799.00
  • Service fee: US$ 350
  • Government: US$ 449

IBC: 02 January of each year.

Limited Liability Company (LLC) US$ 850.00
  • Service fee: US$ 500
  • Government: US$ 350

LLC: Anniversary date

Anguilla Anguilla
Type Of Incorporation Fees Due Date
International Business Company (IBC) US$ 839.00
  • Service fee: US$ 439
  • Government fee: US$ 400

Jan 1st next year (Incorporation from Jan 1st to Mar 31st)

Apr 1st next year (Incorporation from Apr 1st to Jun 30th)

Jul 1st next year (Incorporation from Jul 1st to Sep 30th)

Oct 1st next year (Incorporation from Oct 1st to

The Bahamas The Bahamas
Type Of Incorporation Fees Due Date
International Business Company (IBC) US$ 1,349.00
  • Service fee: US$ 699
  • Government fee: US$ 650
31 December of each year
Saint Kitts and Nevis Saint Kitts and Nevis
Type Of Incorporation Fees Due Date
Nevis Business Corporation (NBCO) US$ 1,100.00
  • Service fee: US$ 750
  • Government fee: US$ 350
Anniversary date
Limited Liability Company (LLC) US$ 1,050.00
  • Service fee: US$ 750
  • Government fee: US$ 300
Anniversary date
Panama Panama
Type Of Incorporation Fees Due Date
Non Resident US$ 1,599.00
  • Service fee: US$ 799
  • Government fee: US$ 800

01 January next year (Incorporation from 01 January to 30 June).

01 July next year (Incorporation from 01 July to 31 December).

Saint Vincent and the Grenadines Saint Vincent and the Grenadines
Type Of Incorporation Fees Due Date
International Business Company US$ 1,399.00
  • Service fee: US$ 699
  • Government fee: US$ 700
31 December of each year

Middle East

United Arab Emirates (UAE) United Arab Emirates (UAE)
Type Of Incorporation Fees Due Date
IBC US$ 2,399.00
  • Service fee: US$ 1,249
  • Government fee: US$ 1,150
Anniversary date
RAK Free Zone US$ 2,849.00
  • Service fee: US$ 1,699
  • Government fee: US$ 1,150
Anniversary date
Dubai Free Zone (DMCC) US$ 4,249.00
  • Service fee: US$ 3,099
  • Government fee: US$ 1,150
Anniversary date
Ajman Free Zone US$ 2,649.00
  • Service fee: US$ 1,499
  • Government fee: US$ 1,150
Anniversary date
Local Company (Commercial, Trading Or Professional License) US$ 12,899.00
  • Service fee: US$ 3,899
  • Government fee: US$ 9,000
Anniversary date
Local Company (General Trading) US$ 18,899.00
  • Service fee: US$ 3,899
  • Government fee: US$ 15,000
Anniversary date

Africa

Seychelles Seychelles
Type Of Incorporation Fees Due Date
International Business Company (IBC) US$ 589.00
  • Service fee: US$ 339
  • Government fee: US$ 250
Anniversary date
Mauritius Mauritius
Type Of Incorporation Fees Due Date
Global Business Company (GBC 1) US$ 8,990.00
  • Service fee: US$ 1,890
  • Government fee: US$ 3500
  • 2 local directors: US$ 3,600
01 January of each year
Authorised Company (AC) US$ 1,990.00
  • Service fee: US$ 890
  • Government fee: US$ 1,100
01 January of each year
Note: The late penalty will be automatically applied once pass the deadline.

Penalty Fee Schedule

Asia Pacific

Hong Kong Hong Kong
Type Of Incorporation Penalty Fees Due Date
Company Limited by Shares (recommend)
  • BRC: US$ 327.
  • NAR1:
  • Less than 42 days: US$ 14
  • < = 3 months: US$ 112
  • < = 6 months: US$ 223
  • < = 9 months: US$ 335
  • > 9 months: US$ 447
Anniversary date
Company Limited by Guarantee
  • BRC: US$ 327.
  • NAR1: 
  • Less than 42 days: US$ 14 
  • < = 3 months: US$ 112 
  • < = 6 months: US$ 223 
  • < = 9 months: US$ 335 
  • > 9 months: US$ 447
Anniversary date
Singapore Singapore
Type Of Incorporation Penalty Fees Due Date
Exempt Private Limited Company (Pte Ltd)
  • Not more than 30 days: US$ 50
  • Between 31 days to 60 days: US$ 75
  • Between 61 days to 90 days: US$ 100
  • Between 91 days to 180 days: US$ 150
  • Between 181 days to 365 days: US$ 200
Anniversary date
Public Limited Company
  • Not more than 30 days: US$ 50
  • Between 31 days to 60 days: US$ 75
  • Between 61 days to 90 days: US$ 100
  • Between 91 days to 180 days: US$ 150
  • Between 181 days to 365 days: US$ 200
Anniversary date
Samoa Samoa
Type Of Incorporation Penalty Fees Due Date
International Company (IC)
  • After the due date: US$ 50/month
30 November of each year
Marshall Islands Marshall Islands
Type Of Incorporation Penalty Fees Due Date
International Business Company (IBC)
  • After the due date: US$ 100 
  • After 90 days: US$ 200
Anniversary date
Limited Liability Company (LLC)
  • After the due date: US$ 100
  • After 90 days: US$ 200
Anniversary date
Vanuatu Vanuatu
Type Of Incorporation Penalty Fees Due Date
International Company (BC)
  • After the due date: US$ 200
Anniversary date

Europe

United Kingdom United Kingdom
Type Of Incorporation Penalty Fees Due Date
Private Limited
  • Not more than 1 month: £150
  • More than 1 month but not more than 3 months: £375
  • More than 3 months but not more than 6 months: £750
  • More than 6 months: £1,500
Anniversary date
Public Limited
  • Not more than 1 month: £750
  • More than 1 month but not more than 3 months: £1,500
  • More than 3 months but not more than 6 months: £3,000
  • More than 6 months: £7,000
Anniversary date
LLP
  • Not more than 1 month: £150
  • More than 1 month but not more than 3 months: £375
  • More than 3 months but not more than 6 months: £750
  • More than 6 months: £1,500
Anniversary date
Switzerland Switzerland
Type Of Incorporation Penalty Fees Due Date
Limited Liability Company
  • After the due date: US$ 300
Anniversary date
Stock Corporation
  • After the due date: US$ 300
Anniversary date
Sole Proprietorship
  • After the due date: US$ 300
Anniversary date
Cyprus Cyprus
Type Of Incorporation Penalty Fees Due Date
Private Limited
  • After the due date: US$ 250
30 June of each year
Gibraltar Gibraltar
Type Of Incorporation Penalty Fees Due Date
Private Limited by Shares
  • After the due date: US$ 175
Anniversary date
Malta Malta
Type Of Incorporation Penalty Fees Due Date
Private Limited Liability Company
  • After the due date: US$ 300
Anniversary date
Luxembourg Luxembourg
Type Of Incorporation Penalty Fees Due Date
Soparfi Holding
  • Not more than 2 months: US$ 150
  • More than 2 month but not more than 4 months:
  • US$ 300
  • More than 4 months: US$ 650
Anniversary date
S.A.R.L: Private Limited Company
  • Not more than 2 months: US$ 150
  • More than 2 month but not more than 4 months: US$ 300
  • More than 4 months: US$ 650
Anniversary date
Liechtenstein Liechtenstein
Type Of Incorporation Penalty Fees Due Date
AG
  • After the due date: US$ 200
Anniversary date
Anstalt
  • After the due date: US$ 200
Anniversary date
Netherlands Netherlands
Type Of Incorporation Penalty Fees Due Date
Limited Liability Company (LLC)
  • After the due date: US$ 300
Anniversary date

America - Caribbean

British Virgin Islands British Virgin Islands
Type Of Incorporation Penalty Fees Due Date
Business Company (BC)
  • From 01 December to 31 January: US$ 100
  • From 01 February to 30 April: US$ 300

31 May next year (Incorporation from 01 January to 30 June)

30 November next year (Incorporation from 01 July to 31 December)

Cayman Islands Cayman Islands
Type Of Incorporation Penalty Fees Due Date
Exempted (Limited by Shares)
  • From 1 April to 30 June: US$ 350
  • From 1 July to 30 September: US$ 650
  • From 1 October to 31 December: US$ 950
31 December of each year
Limited Liability Company (LLC)
  • From 1 April to 30 June: US$ 350
  • From 1 July to 30 September: US$ 650
  • From 1 October to 31 December: US$ 950
31 December of each year
Delaware (United States of America) Delaware (United States of America)
Type Of Incorporation Penalty Fees Due Date
Limited Liability Company (LLC)
  • After the due date: US$ 300
Anniversary date
Corporation (C-Corp or S-Corp)
  • After the due date: US$ 300
Anniversary date
Belize Belize
Type Of Incorporation Penalty Fees Due Date
International Business Company (IBC)
  • After the due date: US$ 50
  • After 90 days: US$ 150

IBC: 02 January of each year.

Limited Liability Company (LLC)
  • After the due date: US$ 50
  • After 90 days: US$ 150

LLC: Anniversary date

Anguilla Anguilla
Type Of Incorporation Penalty Fees Due Date
International Business Company (IBC)
  • After the due date: US$ 100
  • After 90 days: US$ 200

Jan 1st next year (Incorporation from Jan 1st to Mar 31st)

Apr 1st next year (Incorporation from Apr 1st to Jun 30th)

Jul 1st next year (Incorporation from Jul 1st to Sep 30th)

Oct 1st next year (Incorporation from Oct 1st to

The Bahamas The Bahamas
Type Of Incorporation Penalty Fees Due Date
International Business Company (IBC)
  • After the due date: US$ 100
  • After 90 days: US$ 200
31 December of each year
Saint Kitts and Nevis Saint Kitts and Nevis
Type Of Incorporation Penalty Fees Due Date
Nevis Business Corporation (NBCO)
  • After the due date - 180 days: US$ 230
  • Over 180 days: US$ 350
  • 2 years late the penalty will be US$ 740
Anniversary date
Limited Liability Company (LLC)
  • After the due date - 180 days: US$ 230
  • Over 180 days: US$ 350
  • 2 years late the penalty will be US$ 740
Anniversary date
Panama Panama
Type Of Incorporation Penalty Fees Due Date
Non Resident
  • After the due date: US$ 100
  • After 90 days: US$ 200

01 January next year (Incorporation from 01 January to 30 June).

01 July next year (Incorporation from 01 July to 31 December).

Saint Vincent and the Grenadines Saint Vincent and the Grenadines
Type Of Incorporation Penalty Fees Due Date
International Business Company
  • After the due date: US$ 50 per month
31 December of each year

Middle East

United Arab Emirates (UAE) United Arab Emirates (UAE)
Type Of Incorporation Penalty Fees Due Date
IBC
  • Third month from the date of registration expiry: US$ 100
  • Fourth month from the date of registration expiry: US$ 185
  • Fifth month from the date of registration expiry: US$ 330
Anniversary date
RAK Free Zone
  • After the due date: US$ 50 per day.
Anniversary date
Dubai Free Zone (DMCC)
  • Between 1-30 days: US$ 800
  • Between 31-60 days: US$ 1,600
  • Between 61-90 days: US$ 2,200
Anniversary date
Ajman Free Zone Anniversary date
Local Company (Commercial, Trading Or Professional License) Anniversary date
Local Company (General Trading) Anniversary date

Africa

Seychelles Seychelles
Type Of Incorporation Penalty Fees Due Date
International Business Company (IBC)
  • After the due date: US$ 50
  • After 90 days: US$ 100
Anniversary date
Mauritius Mauritius
Type Of Incorporation Penalty Fees Due Date
Global Business Company (GBC 1)
  • After the due date: US$ 135 plus the license fee US$ 100.
01 January of each year
Authorised Company (AC)
  • After the due date: US$ 135 plus the license fee US$ 100.
01 January of each year
FAQs

FAQs

1. What are the annual renewal fees?
The annual renewal fees are the annually recurring government and professional fees that You would pay in order to continue and maintain Your offshore company in good legal standing as per the laws of the state of registration, for as long as the company continues operations. In a way, You can compare these fees to taxes and the administrative overhead, only in the case of an offshore company the figures would probably be much less.
2. What happens if I don't pay the annual renewal fees?

Non-payment of annual renewal fees will make the offshore company lose its status of good standing, the company will also incur severe late penalties and legal consequences.

Example: Late payment of the Government duties in the British Virgin Islands will result in a 10% penalty fee if the payment is up to 2 months´ late, and 50% late penalty fee, if the payment is over 2 months´ late. At any time after the due-date of the Government fees, the Registrar of Companies is entitled to strike-off the company from the Registry for non-payment of fees, after giving the Company a 30-day notice.

A Company, which is struck-off the Registrar shall remain liable to any due and unpaid fees. Such company also remains liable to all its obligations and debts, and any creditor may legally raise an claim against a struck-off company for debts and pursue the collection of those debts through litigation. A struck-off company may not legally continue to trade or enter into any new transactions whatsoever, and its directors, shareholders, managers and owners may not enter into any transactions with the assets of the Company. If they do, they are personally liable for any debts, obligations or legal consequences resulting from such transactions. If the company is operated by appointed third-party managers for and on behalf of a beneficial owner and under his instructions, the personal liability will also extend to the beneficial owner.

3. Which Types of Tax Returns I Need to File for Hong Kong company?
Generally, the Inland Revenue Department (IRD) will issue 3 types of tax returns to each entrepreneur every year since the very first return issued: Employer’s Return, Profits Tax Return and Individual Tax Return.

The IRD will issue Employer’s Return and Profits Tax Return on the first working day of April every year, and issue Individual Tax Return on the first working day of May every year. It is required for you to complete your tax filing within 1 month from the date of issue; otherwise, you may face penalties or even prosecution. 

4. Why Does My Offshore Business Need to File Tax Returns to the HK Government?
The reason is that if your business has profits derived from HK, even if your company is registered in offshore jurisdictions, your profits are still liable to HK Profits Tax and you need to file the Profits Tax Return compulsorily. However, if your company (whether it is registered in HK or offshore jurisdictions) does not involve a trade, profession or business in HK that has profits arising in or derived from HK, i.e. your company is operating and generating all profits wholly outside HK, it is possible that your company can be claimed as an ‘offshore business’ for tax exemption. To prove your profits are not liable to HK Profits Tax, it is suggested to select righ experienced agent at the initial stage
5. What happens if I fail to file my tax return or provide false information to the Inland Revenue Department of Hong Kong?

Any person who fails to file tax returns for Profits Tax or provide false information to the Inland Revenue Department is guilty of an offence and liable to prosecution result in penalties or even imprisonment. In addition, section 61 of the Inland Revenue Ordinance addresses any transaction which reduces or would reduce the amount of tax payable by any person where the Assessor is of the opinion that the transaction is artificial or fictitious or that any disposition is not actually in effect. When it applies the Assessor may disregard any such transaction or disposition and the person concerned shall be assessed accordingly.

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