Annual Maintenance of Offshore Companies
Why should I pay for the Registered Office and Registered Agent if I don't even use them?
You do use them. Apart from lending his office address to be used as the legal address of Your company, the Registered Agent is also legally responsible for safe custody and update of a range of documents – namely, the memorandum and articles of the company, the register of members or a copy thereof, the register of directors or a copy thereof, copies of all notices and other documents filed by the company in the previous ten years. Furthermore, unless the directors of the company have decided otherwise, the Registered Agent is also the custodian for all minutes of meetings and resolutions of shareholders, and all minutes of meetings and resolutions of the directors. In particular it is the duty of the Registered Agent to keep these documents up-to-date and available for inspection by company directors, shareholders and owners. Finally, the Registered Agent acts as the official intermediary between the offshore company and the Government, in particular what concerns timely payment of the government renewal fees and filing of administrative returns (as the case may be). All in all, the Registered Agent has a scope of important legal and practical functions, for which, accordingly, an annual fee is to be paid by the offshore company.