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ANNUAL RENEWAL SERVICES
A typical offshore company, e.g. an IBC, buys its tax-exempt status for comparatively small fixed renewal fees it pays annually to the government of the jurisdiction of its formation and to the Registered Agent. The latter provides liaison with local authorities and a Registered Office required by law.
Companies are strongly advised to pay renewal fees in a timely manner to avoid penalties and/or being struck off the register. In case of renewal fees non-payment, the companies continuing their commercial operations and/or bank relations violate the basics of international business ethical and legal principles, and their officers and beneficiaries could face litigation and potential losses.
Annual fees paid in good time
it's really a bargain thanks to well-designed offshore tools!
ANNUAL RENEWAL FEES SCHEDULE
(The fees are payable starting from the second year of the company's existence)
| JURISDICTION AND COMPANY TYPE | Renewal Fees | When payable |
| The Bahamas - IBC | 1,300 | January February |
| Belize - IBC | US$ 850 | January |
| BVI - IBC | US$ 1,000 | February-March for companies incorporated in the first 6 months of a year; August-September for companies incorporated in the last 6 months of a year |
| MAURITIUS - International Offshore Company-GBC2 | US$ 800 | |
| MAURITIUS - Reident Company-GBC1 |
from US$ 6,300 |
|
| Cyprus - IBC | 1,800 | In 60-30 days before the anniversary of incorporation/formation |
| Ras Al Khaimah | 2,400 | |
| PANAMA | 1,200 | |
| UNITED KINGDOM - Private Limited Company | 1,400 | |
| UNITED KINGDOM - LLP | 1,400 | |
| SEYCHELLES - IBC | US$ 600 | January February |
| Delaware - LLC | US$ 550 | February-March |
| NEW YORK - LLC, any state of the USA | from US$ 850 |
IMPORTANT NOTES
- The above fees include where applicable annual renewal license fee, franchise tax, filing fee, Registered Agent and Registered Office fee, provision of local secretary if required by Law.
- The fees are valid for companies subject to a minimal license fee.
- Late payment/non-payment entails penalties. The company may be struck off the Register.
- For an extra fee we may arrange local tax return filing, accounting and/or audit services.
- Other services: restoring a company struck off the Register or official wind-up (dissolution) - extra fees apply
- Courier expenses are charged in addition to the above amounts (US$ 110)
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We do not offer legal or tax advice and strongly recommended to consult licensed professionals with regards to local tax and legal matters.