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Company Renewal

OVERVIEW

The annual renewal fees are the annually recurring government and professional fees that your company must pay in order to continue and maintain the company in good legal standing as per the laws of the state of registration. As a result, all companies renewed with SFM Corporate Services are always in good standing.

Scope of services:

Provision of one additional year of registered address services
Preparation and filing of annual returns
Provision of one additional year of company secretary services
Payment of the annual registry fees to the authorities and/or registered agent fees
File review and update
Provision of SFM account manager for the full year

**Updated documents such as renewed business license, filed annual return, confirmation receipt, may only be available after the completion of the renewal.

Failure to pay the annual renewal fees by the due date will result in the company to lose its good standing. Authorities may impose a penalty for late annual fees. The company may be struck off the register after a certain period past the due date, this period is determined by the authorities.

FAQ:

Why are annual renewal fees required?
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.

What do the annual renewal fees consist of?
Annual renewal fees consist of the following:

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

What happens if I the renewal fees are not paid?
If a company does not pay the annual renewal fees by the due date, it loses its good standing. 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

How do I pay the annual renewal fees?
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

How should I properly discontinue usage of the company?
The proper procedure for discontinuation of a company is a voluntary liquidation. For more info please visit our link below:
https://www.sfm.com/company-dissolution

Jurisdiction Renewals

Jurisdiction
Renewal Due date
Penalty in case of late renewal
Anguilla
Anniversary date
EUR 50
1-3 Months after anniversary date
EUR 100
3-6 Months after anniversary date
EUR 600
Restoration fees – Applicable 6 months after the anniversary due date
Bahamas
Anniversary date
EUR 50
After the anniversary due date
EUR 700
Restoration fees – Applicable as of January 1st the following year from anniversary due date
Belize
Anniversary date
EUR 50
After the anniversary due date
EUR 600
Restoration fees – Applicable as of January 1st the following year from anniversary due date
BVI– First semester companies / January - June
Anniversary date
EUR 50
After the anniversary due date
EUR 300
As of August 1st
EUR 500
Restoration fees – Applicable as of November 1st of anniversary due date
BVI– 2nd semester companies / July - December
Anniversary date
EUR 50
After the anniversary due date
EUR 300
As of February 1st following year
EUR 500
Restoration fees – Applicable as of May 1st the following year from anniversary due date
Canada
Anniversary date
EUR 50
After the anniversary due date
EUR 400
Restoration fees – Applicable after 1 year from the anniversary due date
Cyprus
Anniversary date
EUR 150
After the anniversary due date
Restoration fees are decided by the registry on a case by case basis
Delaware
May 31st
EUR 200
As of June 1st
EUR 300
Restoration fees – Applicable after 2 years from the anniversary due date
Florida
April 30th
EUR 400
As of May 1st
EUR 200
Restoration fees
Gibraltar
Anniversary Date
EUR 150
After the anniversary due date
Hong Kong
Anniversary Date
EUR 150
1-3 Months after anniversary date
EUR 250
3-6 Months after anniversary date
EUR 500
6-9 Months after anniversary date
Restoration fees are decided by the registry on a case by case basis
Malta
Anniversary Date
EUR 50.00
42 days after anniversary date
Restoration fees are decided by the registry on a case by case basis
Marshall Islands
Anniversary date
No late fee penalty on renewal
EUR 500
Restoration fees – Applicable after 1 year from the anniversary due date
Mauritius (Authorized Company):
July 1st
EUR 400
After July 1st
Restoration fees are decided by the registry on a case by case basis
Mauritius (GBC 2)
July 1st
EUR 250
After July 1st
Restoration fees are decided by the registry on a case by case basis
Nevis
Anniversary date
EUR 150
15 days before the anniversary due date
EUR 500
6 Months after anniversary date
Restoration fees are decided by the registry on a case by case basis
Panama
Anniversary date
EUR 50
After the anniversary due date
EUR 300
Restoration fees – Applicable 2 years after the anniversary due date
Ras al-Khaimah (UAE)
Anniversary date
EUR 100
90 days after anniversary date
EUR 250
120 days after anniversary date
EUR 400
150 days after anniversary date
EUR 500
Restoration fees – Applicable 6 months after the anniversary due date
Samoa
Anniversary date
EUR 100
After the anniversary due date
EUR 350
Restoration fees – Applicable 1st Feb of following year
Seychelles
Anniversary date
EUR 50
After the anniversary due date
EUR 150
90 days after anniversary date
EUR 350
Restoration fees – Applicable between 3-6 months after anniversary due date
EUR 650
Restoration fees – Applicable 6 months after anniversary due date
UK
Anniversary date
No late fee penalty on renewal
EUR 500
Restoration fees – Applicable after 1 year from the anniversary due date
Vanuatu
Anniversary date
EUR 100
After the anniversary due date
EUR 300
Restoration fees – Applicable after 6 months from the anniversary due date
St Vincent
January 1st
EUR 50
Per month
EUR 300
Restoration fees – Applicable after 1 year from the anniversary due date