Company Renewal

Create your business breakthrough

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

Hong Kong

Type Of Incorporation	Fees	Due Date
Company Limited by Shares (recommend)	US$ 876 Government fee: US$ 277 Service fee: US$ 599	Anniversary date
Company Limited by Guarantee	US$ 1,160 Service fee: US$ 599 Government fee: US$ 561	Anniversary date

Singapore

Type Of Incorporation	Fees	Due Date
Exempt Private Limited Company (Pte.Ltd)	US$ 2,884 Service fee: US$ 699 Government fee: US$ 1,195 Local Director: US$ 990	Anniversary date
Public Limited Company	US$ 4,980 Service fee: US$ 2,390 Government fee: US$ 1,600 Local Director: US$ 990	Anniversary date

Marshall Islands

Type Of Incorporation	Fees	Due Date
International Business Company (IBC)	US$ 1,199 Service fee: US$ 599 Government fee: US$ 600	Anniversary date
Limited Liability Company (LLC)	US$ 1,550 Service fee: US$ 850 Government fee: US$ 700	Anniversary date

Samoa

Type Of Incorporation	Fees	Due Date
International Company (IC)	US$ 1,299 Service fee: US$ 699 Government fee: US$ 600	30 November of each year

Labuan, Malaysia

Type Of Incorporation	Fees	Due Date
Company Limited by Shares	US$ 4,900 Service fee: US$ 2,600 Government fee: US$ 2,300	Anniversary date

Vanuatu

Type Of Incorporation	Fees	Due Date
International Company (BC)	US$ 2,119 Service fee: US$ 1,219 Government fee: US$ 900	Anniversary date

Vietnam

Type Of Incorporation	Fees	Due Date
Wholly foreign-owned LLC (100% foreign-owned company in Vietnam)	US$ 199 Service fee: US$ 0 Government fee: US$ 199	Anniversary date
Partly foreign-owned LLC (The Vietnam joint venture company)	US$ 199 Service fee: US$ 0 Government fee: US$ 199	Anniversary date

Penalty Fee Schedule

Asia Pacific

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

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

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

Samoa

Type Of Incorporation	Penalty Fees	Due Date
International Company (IC)	After the due date: US$ 50/month	30 November of each year

Labuan, Malaysia

Type Of Incorporation	Penalty Fees	Due Date
Company Limited by Shares	Late renewal in less then 6 months: 10% renewal fee thereafter 50%	Anniversary date

Type Of Incorporation

Penalty Fees

Due Date

Company Limited by Shares

Late renewal in less then 6 months:

10% renewal fee
thereafter 50%

Anniversary date

Vanuatu

Type Of Incorporation	Penalty Fees	Due Date
International Company (BC)	After the due date: US$ 200	Anniversary date

Vietnam

Type Of Incorporation	Penalty Fees	Due Date
Wholly foreign-owned LLC (100% foreign-owned company in Vietnam)		Anniversary date
Partly foreign-owned LLC (The Vietnam joint venture company)		Anniversary date

Europe

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

Cyprus

Type Of Incorporation	Penalty Fees	Due Date
Private Limited	After the due date: US$ 250	30 June of each year

Gibraltar

Type Of Incorporation	Penalty Fees	Due Date
Private Limited by Shares	After the due date: US$ 175	Anniversary date

Malta

Type Of Incorporation	Penalty Fees	Due Date
Private Limited Liability Company	After the due date: US$ 300	Anniversary date

Netherlands

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	After the due date: US$ 300	Anniversary date

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

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

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

America – Caribbean

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)

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)

Delaware (United States of America)

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

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

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 Dec 31st)

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 Dec 31st)

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 Vincent and the Grenadines

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	After the due date: US$ 50 per month	31 December of each year

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).

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 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

United States of America

Alabama

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Alaska

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : US$ 38 Handling fee: US$ 199	Due every 2 years, starting from when you filed your Initial Report.
Corporation (C-Corp or S-Corp)	Tax Penalty : US$ 38 Handling fee: US$ 199	Due every 2 years, starting from when you filed your Initial Report.

Arizona

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : US$ 9/month Handling fee: US$ 199	No Annual Report is required.
Corporation (C-Corp or S-Corp)	Tax Penalty : US$ 9/month Handling fee: US$ 199	Due annually by anniversary of formation or registration. You can start filing 3 months prior.

Arkansas

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : US$ 25 Handling fee: US$ 199	May 1st every year
Corporation (C-Corp or S-Corp)	Tax Penalty : US$ 25 Handling fee: US$ 199	May 1st every year

California

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : NO Handling fee: US$ 199	15th day of the 4th month after the beginning of your tax year
Corporation (C-Corp or S-Corp)	Tax Penalty : NO Handling fee: US$ 199	15th day of the 4th month after the close of your tax year

Colorado

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Connecticut

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : NO Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : NO Handling fee: US$ 199	Anniversary date

Delaware

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : US$ 200 Handling fee: US$ 199	Jun 01st Annually
Corporation (C-Corp or S-Corp)	Tax Penalty : US$ 200 Handling fee: US$ 199	March 01st Annually

Florida

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : US$ 400 Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : US$ 400 Handling fee: US$ 199	Anniversary date

Georgia

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : US$ 25 Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : US$ 25 Handling fee: US$ 199	Anniversary date

Hawaii

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : US$ 20 Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : US$ 20 Handling fee: US$ 199	Anniversary date

Idaho

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Illinois

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : US$ 100 Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : US$ 100 Handling fee: US$ 199	Anniversary date

Indiana

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : NO Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : NO Handling fee: US$ 199	Anniversary date

Iowa

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Kansas

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Kentucky

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Louisiana

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : NO Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : NO Handling fee: US$ 199	Anniversary date

Maine

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Maryland

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Massachusetts

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Michigan

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Minnesota

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Mississippi

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Missouri

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Montana

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : US$ 15 Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : US$ 15 Handling fee: US$ 199	Anniversary date

Nebraska

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Nevada

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : US$ 175 Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : US$ 175 Handling fee: US$ 199	Anniversary date

New Hampshire

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

New Jersey

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

New Mexico

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

New York

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

North Carolina

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

North Dakota

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : US$ 25 – US$ 50 Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : US$ 25 – US$ 50 Handling fee: US$ 199	Anniversary date

Ohio

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : NO Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : NO Handling fee: US$ 199	Anniversary date

Oklahoma

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Oregon

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Pennsylvania

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Rhode Island

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

South Carolina

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

South Dakota

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Tennessee

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Texas

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty: A US$ 50 penalty is assessed on each report filed after the due date. If tax is paid 1-30 days after the due date, a 5 percent penalty is assessed. If tax is paid over 30 days after the due date, a 10 percent penalty is assessed. Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty: A US$ 50 penalty is assessed on each report filed after the due date. If tax is paid 1-30 days after the due date, a 5 percent penalty is assessed. If tax is paid over 30 days after the due date, a 10 percent penalty is assessed. Handling fee: US$ 199	Anniversary date

Utah

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Vermont

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Virginia

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Washington

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : US$ 25 Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : US$ 25 Handling fee: US$ 199	Anniversary date

West Virginia

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Wisconsin

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty => depends Handling fee: US$ 199	Anniversary date

Wyoming

Type Of Incorporation	Penalty Fees	Due Date
Limited Liability Company (LLC)	Tax Penalty : NO Handling fee: US$ 199	Anniversary date
Corporation (C-Corp or S-Corp)	Tax Penalty : NO Handling fee: US$ 199	Anniversary date

Middle East

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

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

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

FAQ’s

We Are Here To Help You With

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.

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Company Renewal

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Create your business breakthrough

Company Renewal

Hong Kong

Singapore

Marshall Islands

Samoa

Labuan, Malaysia

Vanuatu

Vietnam

Asia Pacific

Europe

America – Caribbean

Middle East

Africa

We Are Here To Help You With

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Welcome to MULTISTREAM INTERNATIONAL

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MULTISTREAM INTERNATIONAL