The Annual Examination for Company which is newly incorporated must be held every year in order for the company to continue doing business in the long-term. The Annual Examination for Company must be according to the laws and regulations of the place in which the company is based. The Annual Examination for company is also used for renewal of a company’s business certificate, in order to continue doing business in the region as the business certificate is valid for one year only. Each examination may differ in requirements according to the region of incorporation. After the anniversary date of the company incorporation, the Registrar of Companies requires the specified company to deliver an annual return. Information such as updates on the state affairs of the company during the previous year, number of shareholders of the company, their shareholdings and the operation of each shareholding etc are required.
The services provided include:
- The Annual Examination for a company.
- Joint Annual examination for Foreign Investment Enterprise.
- License Renewal for Overseas/Offshore Company.
- Procedure for the Annual Examination for Company- Existing clients are only needed to sign on the acknowledgement and the annual return file. But a new client has to provide the copies of certificate of incorporation, business registration certificate and NCI.
- Timing of the Annual Examination for Company- The Annual Examination for company would be conducted every year on the anniversary of the incorporation of the company. Any late delivery might lead to the company incurring fines.
- Fees of the Examination- Fees for the examination may vary with region and the profile of the company.
The conductance of the Annual Examination for offshore companies is easier and simpler and it is a legal way for the company to continue its operation. The drafting of statutory documents for the government, resolutions are also proposed at the annual general meeting and board meetings in compliance with the laws of the specific region. Risk assessment is also performed and specific advices are also given for improvements based on the available financial reports of the company. The customers are also updated with the latest regulations in offshore regions and are given professional advice in addition to providing annual examination services. All matters during the annual examination are handled. Risk Aversion advices are provided to the investors based on the operation of the enterprises.