Maintenance & support services for company
It is incumbent upon every business proprietor to adhere to the yearly maintenance obligations prescribed by the legislation of the country wherein their company is established.
The annual legal service for business encompasses a variety of procedures and measures that are imperative for upholding the company's Good Standing or Active status.
As part of our comprehensive service, we offer the following provisions:
Legal address service
Director, shareholder, and procurator services
Registered agent, secretary, administrator, and contact person (local representative) services
Service of monitoring changes and notification about the new rules and legal requirements of the country where the company is registered
Virtual office service
Service of payment of the annual fee
Service of keeping company documents and registers at the legal address to comply with the rules of the law of the country of registration
Service for the preparation and submission of the administrative report on the company (Confirmation Statement, Annual Return, Annual Report, etc.)
Adhering to these procedures and availing of annual maintenance services not only preserves the company’s Active status but also guarantees compliance with legal obligations and facilitates seamless operations throughout the year.
Kindly be advised that the range of services provided and their availability may differ based on the specific conditions and requirements set forth by the country where the company is incorporated.
Failure to renew the aforementioned services can result in the following consequences:
The company will be subject to penalties for non-payment of the annual fee at the Registry of the country of incorporation. The company owner bears full liability for the payment of these penalties. (According to the laws of the company's country of incorporation, debts can be pursued through the courts of the company owner).
The company will lose its Good Standing status and will be unable to provide documentation verifying its Active status. Consequently, banks, payment systems, and exchanges will close the company's accounts.
Services such as the provision of a registered office, registration agent, secretary, administrator, director and shareholder services, and attorney services will be terminated. Without the renewal of director services, no power of attorney will be issued for the subsequent year.
Contracts and other legal documents executed on behalf of the company will be rendered null and void.
Consequently, the company will be deleted from the Register of Companies of its country of incorporation.
We have meticulously crafted a concise checklist specifically designed for discerning company owners to ensure their compliance with the requirements stipulated by the country of incorporation:
Verify the company’s good standing, confirming the payment of governmental fees, annual fees, and legal address fees. The company registry should reflect an Active status. If the registry is closed, refer to the Certificate of Good Standing or Certificate of Incumbency for confirmation of the company’s status.
The company account is opened in a reliable bank or payment system.
All necessary permits and licenses have been received as required by applicable regulations.
Financial Statements (audited Financial Statement) have been prepared and submitted, all taxes have been paid.
Prepared comprehensive documentations for each business transaction, including contracts with clients/partners, invoices, act of completed works, etc.
Ensure the availability of accurate and up-to-date bookkeeping records.
Verify that there are no outstanding debts to tax authorities or state bodies.
The presented checklist serves solely as an informative guide, formulated in accordance with general regulations. It is important to note that each country may impose distinct prerequisites to maintain a company’s active status. To ensure compliance with the specific requirements applicable to your company on an annual basis, we strongly recommend contacting the esteemed legal professionals at Lawtter Solutions. Their knowledgeable team will provide tailored guidance and clarify the requisite services necessary for your company’s continued adherence to regulatory standards.
Status of Good Standing
Being in a state of Good Standing holds significant importance for any company.
It signifies the company’s adherence to all legal requirements and regulations prescribed by the governing authorities and the laws of the country where it is incorporated. A company enjoying Good Standing status possesses the freedom and privilege to conduct its operations without any impediments.
To sustain the coveted Good Standing status, an annual update of the company’s records is mandatory. This entails submitting accurate and current information concerning the company’s structure and activities. One of the principal obligations is to file annual reports, such as the Confirmation Statement (also known as the Annual Return or Annual Report).
The Confirmation Statement, serving as an annual report, serves the purpose of confirming and updating the company’s information. It encompasses details pertaining to the company’s structure, shareholders, directors, and other essential stakeholders.
By consistently filing annual reports outlining the company’s structure, regulators and stakeholders are kept well-informed about the company’s current state and operations. This practice fosters transparency and instills confidence in customers, partners, and investors. The submission of these reports is compulsory, as it is indispensable for maintaining the esteemed status of Good Standing and facilitating the smooth functioning of the company.
How can Lawtter Solutions assist you?
Lawtter Solutions is your trusted partner for comprehensive company legal services.
Our team of seasoned attorneys is dedicated to providing a streamlined and convenient solution to fulfill all your annual service requirements for various business types, including IT companies, insurance firms, and offshore entities, digital businesses.
We offer a comprehensive bundled annual service package that encompasses all the necessary services to obtain and maintain your financial licenses. With our assistance, you can bid farewell to concerns regarding crucial aspects such as monitoring important dates for company service updates, making payments to various entities, and potential penalties resulting from non-compliance with the laws of the country of registration.
Our adept team is fully equipped to deliver a comprehensive range of services to ensure your company remains in an Active (In Good Standing) status. We take charge of filing all annual reports, updating company structures, processing fee payments, and ensuring compliance with all legal requirements.
With Lawtter Solutions, you gain access to a team of legal professionals with extensive hands-on experience and expertise, offering a hassle-free approach to address all your company’s annual maintenance needs with a simple click. By opting for our Annual Maintenance package, you can bid farewell to the arduous task of monitoring key dates for service updates, making payments to various recipients, and facing penalties resulting from non-compliance with legal requirements in the country of incorporation.
Selecting the right law firm not only saves you time and money but also ensures top-notch legal support at a professional level. Lawtter Solutions is adept at providing expert advice on all aspects related to company operations (legal services for business and more), ranging from developing legal strategies to representing clients in court.