Annual Renewal Fee

Following the first year of incorporation, the company must pay an annual renewal fee to keep it in good standing.

This Fee includes:

• The Government Renewal Fee
• The Registered Office Fee
• The Registered Agent Fee

Our company ensures that clients' companies remain compliant by having a local registered agent and registered office. We manage the collection of annual renewal fees based on the below schedule, handle the necessary annual filings, and make payments to local governments. This diligent process guarantees that our clients' companies maintain their good standing at all times.

Failure to pay the annual fee by the deadline results in the loss of a client's company's good standing. The company will also become ineligible to acquire a Certificate of Good Standing or any other documentation verifying its legal existence.

After a period of six months following the due date, the names of companies that have not renewed their status are removed from the Register of Companies. Once this occurs, non-renewed companies are prohibited from engaging in any further business activities.

It's important to note that when a company is struck off the Register, it does not absolve the company from any existing liabilities, nor does it prevent creditors from pursuing claims against the company. Additionally, the liability of the company's members, directors, and officers remains unaffected. Therefore, when a company is no longer needed, it is advisable to proceed with the formal dissolution process to properly conclude its affairs.

The fees associated with our annual renewals are outlined in the Fee Schedule.

Schedule of Annual Fees