What's the annual
fees payment?
What if the annual fees are not paid?
Should the accounts of the company or
corporation be audited?
Basic requirements of a company or corporation
What if the name of a company or corporation be changed?
What if the director of a company or corporation
be changed?
What if the shareholder of a company or corporation
be changed?
What if the company be required to be closed?
What if client would like to change the
agent with us?
What if the company requires other services?
Frequently Asked Questions - Incorporation
Matters
Frequently Asked Questions -
Going Offshore
Frequently Asked Questions -
Annual Maintenance
What's the annual fees payment?
Client after incorporating the company is required to
pay annual fees to maintain the incorporated company
or corporation. The time of payment may vary according
to the time and jursidiction of incorporation. An notice
of payment or invoice will be issued about 1-2 months
before the payment deadline.
What if the annual fees are not paid?
If the required annual fees are not paid within payment
deadline, penalty(ies) will be levied automatically.
If the required penalty(ies) and the annual fees are
not paid within the penalty deadline, the company will
be struck-off from the respective Registrar (not applicable
to a Hong Kong private limited company). Company after
struck-off may be restored (within prescribed time frame)
by the payments of restoration fees. For a Hong Kong
private limited company, non-payments of annual fees
may lead to professioanl services termination and government
penalties been levied. Every officers in the company
may be subject to a fine. Disqualification Order may
be issued for persistent non-compliance of the officer(s).
Should the accounts of the company or corporation
be audited?
It depends on jursidiction where the company or corporation
is incorporated. In general, an offshore company (excluding
Hong Kong company) is not required to have the accounts
audited but auditing of accounts may be required in
some countries where the offshore company is doing the
businesses. For instance, a Marshall Islands company
is not required to have the accounts be audited, but
if it is having a place of business in Hong Kong, the
Tax Authority in Hong Kong may require it to submit
the audited accounts (or management accounts) for tax
assessment.
Basic requirements of a company or corporation
Marshall Islands: Maintain at least ONE director/member
in the company, Paid annual fees, Update records with
us and Board Resolutions to appoint/re-elect directors
annually. Annually, we will send Offshore Declaration
Form to clients to declare for information update.
Hong Kong: Maintain at least ONE director/member in
the company (for company incorporated before 13/Feb/2004
without amending M&As to cope with new Ordinance,
at least TWO directors/members), Maintain at least ONE
resident company secretary, Maintain Hong Kong Registered
Office address, Appoint ONE auditor who practises in
Hong Kong, Paid annual fees, Update records with us,
Hold a shareholder's Annual General Meeting, File annual
return annually, File profits tax and employer return
annually, and present annual audited accounts to shareholder(s)
for adoptionBoard Resolutions to appoint/re-elect directors
annually.
BVI and others: Maintain at least ONE director/member
in the company, Paid annual fees and Update records
with us. Annually, we will send Offshore Declaration
Form to clients to declare for information update.
What if the name of a company or corporation be changed?
A company name could be changed. The process may vary
according to the rules of the jurisdiction where the
company is incorporated.
What if the director of a company or corporation
be changed?
The process may vary according to the rules of the jurisdiction
where the company is incorporated.
What if the shareholder of a company or corporation
be changed?
The process may vary according to the rules of respective
jurisdiction where the company is incorporated. There
are normally two approaches, one is by share allotment
and one is by share transfer. Share allotment is normally
be used if there are remaining non-issued shares which
after issueance is not exceeding the authorised share
capital, otherwise, a share transfer may be appropriate
(provided that it is not going to increase the authorised
share capital). In a Hong Kong private limited company,
share transfer is required to be stamped after the assessment
of the stamp duty payable.
What if the company be required to be closed?
Most offshore companies may struck-off by payments of
fees. But a Hong Kong private limited company is required
to apply for de-registration if the company is dormant
or ceases businesses within 3 months immediately before
the application, all members agree and no liabilities,
otherwise, it is required to be liquidated.
What if client would like to change the agent with
us?
For BVI company, you may transfer the registered agent
to us. Upon receipt of your written instructions, we
will contact the ex-serviced agent on the handover of
statutory records. Please note that our services fees
on agent transfer-in are excluding all courier fees
and agent-transfer-out fee by the ex-serviced agent.
For Hong Kong company, you may appoint us as the company
secretary of the company. Upon receipt of your written
instructions, we will contact the ex-serviced agent
on the handover of statutory records. Documents checking
fee per year (maximum charged for 4 years, if the company
is incorporated over 4 years) is required in addition
to the normal services fee.
For companies in other jurisdicitons, it may not be
possible to change the agent because of the limitation
on the system for the transfer. If required, we may
assist to incorporate a new company in the same jurisdiction
to continue the businesses with the new company. Or
alternatively, client may option for
re-domiciliation
from the existing jurisdiction to another jurisdiction
(e.g. from BVI to Belize or to Marshall Islands), subject
to the laws of different jurisdictions. Re-domiciliation
may involve higher costs of company continuation.
What if the company requires other services?
If client(s) requires other services in relation to
the incorporated company via us, please feel free to
contact us for assistance.
Our aim is to provide a comprehensive service to our
clients in offshore operations. If you find above helpful,
please free to contact us.
