Hong Kong Company Annual Review

According to Hong Kong law, companies must complete annual review procedures before the anniversary of their registration date to maintain legal operations. This process ensures that all company details are current and compliant with local regulations.

Annual Review Timeline: The annual review must be completed within 42 days of the company's incorporation anniversary. Timely completion is crucial to avoid penalties and ensure uninterrupted business operations.

Annual Review Procedures: The process begins with the company directors signing the necessary annual declaration documents. Following this, the company must update its business registration certificate and submit the annual declaration form to the relevant authorities. This submission confirms that all company information is accurate and up-to-date.

Annual Review Contents: The annual review involves several key components. Companies must submit an annual declaration form, update their business registration certificate, renew the appointment of their legal secretary, and confirm or update their registered address. These steps are essential to ensure that the company remains compliant with Hong Kong regulations.

Penalties for Overdue Annual Review: Failure to complete the annual review within the prescribed timeframe will result in government fines. These penalties emphasize the importance of adhering to the annual review schedule to avoid legal and financial repercussions.

Cayman Islands Company Annual Review

According to the Companies Law of the Cayman Islands, companies must complete their renewal procedures with the local government before January each year. This process includes paying a specified declaration fee (annual license fee) to maintain the company's legal status. The review process takes 7-10 working days. Delays can result in fines, and prolonged non-compliance may lead to increased penalties, a poor record for shareholders and directors, company suspension, and asset confiscation by the Cayman government.

BVI Company Annual Review

Companies registered in the British Virgin Islands (BVI) must pay an annual fee based on their incorporation date. Companies established from January to June must complete their annual review by May 31, while those established from July to December must do so by November 30. The fee must be paid 20 working days before the due date (by May 10 or November 10) to ensure timely submission to the registration office. Failure to comply results in government fines

Choosing Move2SG

Move2SG provides comprehensive support throughout the Overseas Company Annual Filing process. Our services include:

• Assisting in the preparation and submission of all required documents.

• Ensuring compliance with all legal and regulatory requirements specific to the overseas jurisdiction.

• Offering expert guidance to ensure a smooth and efficient filing process.

For personalized support and expert advice, please contact us.