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At times we all need assistance. Whether you're looking for the best place to register your company or a physical office to open a company anywhere in the world, or simply want to know the meaning of an onshore/offshore company, this is a great place to start. Browse commonly asked questions on company formation below.
Do you have more questions? Read the answers to our most frequently asked questions below.
Is your question not listed? Contact us.

Company Renewal Related Questions

Why are annual renewal fees required?

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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. Annual fees are also required to maintain the registered address of the company. As part of the incorporation price that you have paid, SFM offers an official registered address for your company.

What do the annual renewal fees consist of?

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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?

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If a company does not pay the annual renewal fees by the due date, it loses its good standing, and the bank may close its bank account at any time. 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?

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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?

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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

When do I have to pay my company's yearly fees (Renewal Fees)?

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You will be asked to settle the yearly fees prior to each anniversary of your company, not at the end of each calendar year. There may however be exceptions where a jurisdiction requires the annual fees to be paid at a fixed calendar date. To avoid any last minute rush, we will send you a renewal invitation two months before the anniversary.

Please refer to the below table for detailed information about each jurisdiction

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

SFM makes company renewal a straightforward process. The annual fees payable by your company not only cover the maintenance and continuous good standing of your company, but also include a dedicated SFM account manager to handle all your queries and ensure compliance with local regulations.

Browse through our jurisdictions list to find the best country or jurisdiction for company formation that will suit your company's unique requirements and business goals.

Each jurisdiction offers unique advantages and our team can help you navigate the many options at your disposal, including advising you on corporate structure and regulatory compliance.

Disclaimer: SFM Corporate Services and its affiliates do not provide tax, legal, or accounting advice. Materials provided by SFM Corporate Services and www.sfm.com have been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, or accounting advice. You should consult your own tax, legal, or accounting advisor with regard to your own tax, legal, or accounting scenario. Nothing on this webpage shall be construed as a contractual commitment or as a warranty. Services conditions are governed by the applicable terms and conditions.

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