Follow-up costs, also known as annual renewal fees or renewal costs
What are the follow-up costs of an offshore company?
The follow-up costs of an offshore company (IBC)
Abstract
- The follow-up costs including all fees incurred in the 2nd year amount to € 1,120.00.
- The follow-up costs including all arising fees in the 3rd year amount to € 1.000,00.
- The follow-up costs including all arising fees in the 4th year amount to € 900,00.
- The follow-up costs including all arising fees in the 5th year amount to € 800,00.
- The follow-up costs including all fees from the 6th year onwards amount to € 750.00.
Detailed description
The follow-up costs for the offshore company, the subsequent years for the further operation of an offshore company, are often not exactly or not at all shown or described on the Internet. This can have several serious as well as unserious reasons.
We have therefore given a lot of thought to how to show and calculate the effort and the associated costs as fairly, seriously and transparently as possible.
Theoretically, the follow-up costs should be the same as in the year of foundation, i.e. € 1399,00 for us, thus also for the following years. The effort of the renewal is about the same as for the foundation, so we have to prepare various documents again, ask the client for his current place of residence (proof of address), request a current consumption bill from him and provide proof that his business activity has not changed.
Likewise, one must apply to the Registrar, here in the Seychelles, for renewal so that they too are aware that the offshore company will continue to be active for the next 12 months.
In addition, we will provide an address for a further 12 months, take over the mail service which consists of screening incoming mail, scanning it and informing the client of its contents.
In summary, one pays subsequent costs in the following years for this service incl. fees
- Effort to prepare the documents for the extension of the offshore company
- Communication with the client, request for various documents
- Preparation of all documents received from the client and ours created
- Application for renewal to the registry
- Payment of all fees incurred by the renewal at the registration office
- To provide a local address for the next 12 months
- Mail service, such as receiving, screening, scanning and transmitting to clients for incoming letters.
The follow-up costs for the operation of a Seychelles Offshore Company are often not transparent on the Internet. Costs from the 2nd year of an offshore company in the Seychelles, i.e. the costs that arise after the year of incorporation, are transparent with us, as shown below.
However, the effort is often very different from offshore company to offshore company and client to client. We cannot see this expense at the time of foundation and therefore look at the first 12 months of each individual client to calculate the follow-up costs. However, this does not sound transparent and arbitrary.
Our cost calculations for subsequent years as follows are dependent on these factors
- How many letters do we receive within the 12 months, which then have to be processed?
- What additional requests by email, phone or Skype come from the client that cannot be charged with other services?
Therefore, the underlying and theoretical follow-up costs for the following years are the same as for the foundation, € 1.399,00.
If the limit of 100 letters to be processed is not reached and there has been no further expenditure for the offshore company within the last and first 12 months, the follow-up costs are reduced by approx. 20% to exactly € 1,120.00.
Means, the follow-up costs including all arising fees in the 2nd year amount to:
€ 1.120,00
If the limit of 100 letters is not reached also in the 2nd year and the existing offshore company is commissioned again with a further extension, the costs for the further following year are reduced by further approx. 10% to exactly 1.000,00 €.
Means, the follow-up costs including all arising fees in the 3rd year amount to:
€ 1.000,00
The reduction for the following years is then, under the same conditions as described above, again approx. 10% for the 4th and 5th year.
Means, the follow-up costs incl. all arising fees in the 4th year amount to
€ 900,00
Means, the follow-up costs including all arising fees in the 5th year amount to:
€ 800,00
All other subsequent costs including all fees incurred in the following years from the 5th year, amount to € 750,00 until revoked or changes in our price structure, which are always announced 6 months in advance.
Do you still have questions about the follow-up costs of an offshore company or is something still unclear? Please contact us Contact on.
You can find more and further information in our Lexicon/Glossary or in the IBC Act.
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