Renewal invoice procedures

To ensure timely completion of Client annual statutory obligations, Healy Consultants prepared the guidelines below:

Renewal invoice payments

  1. Two months before the anniversary date of each company incorporation date, our Client will receive from Ms. Sharon (click link) a renewal invoice for their review and approval;
  2. One month, before renewal invoice payment date, our Client will receive a reminder from Ms. Sharon;
  3. One week, before renewal invoice payment date, our Client will receive another reminder from Ms. Sharon;
  4. Each week, after renewal invoice payment date, our Client will receive an email reminder from Ms. Sharon;
  5. One month after renewal invoice payment date, our Client will receive an updated renewal invoice with a 10% late payment penalty;
  6. Each month after renewal invoice payment date, our Client will receive an updated renewal invoice with a new monthly 10% late payment penalty imposed. Ms. Sharon will weekly phone our Client;
  7. If our Client ceases communication with Healy Consultants Group PLC, then 3 months after renewal invoice payment date, Ms. Sharon will contact all shareholders and directors to confirm if our Client wishes to keep or de-register the company;
  8. If our Client fails to communicate and cooperate with Healy Consultants Group PLC, we will close the company and corporate bank accounts. To properly discharge Healy Consultants legal obligations, we will inform the relevant Government tax authorities of the same, cc our Client

Annual legal and accounting and tax and audit obligations

Following receipt of renewal invoice payment from our Client, Ms. Beverly (click link) from Healy Consultants Accounting and Tax Department will aggressively complete:

  • Payment of annual Government license fees;
  • Email our Client a detailed project plan (click link);
  • Email our Client draft financial statements for their review and approval;
  • Complete an independent statutory annual audit if, required;
  • Timely, submit a legal annual return to the Registry of Companies;
  • Timely, submit an accurate and complete corporation tax return to the Government;
  • Supply you monthly detailed email engagement status updates;
  • Email our Client a summary of obligations.

De-registration of companies

  1. If your Firm does not wish to renew your company or keep it alive, then you need to legally de-register the company. If you do not de-register the company, it will remain on the public register as a legal entity. Consequently, your Firm’s upcoming and ongoing legal obligations include i) submitting annual corporate tax returns ii) submitting annual legal statutory filing returns iii) preparing and submitting annual dormant financial statements. Failure to comply with these legal obligations results in fines and/or imprisonment;
  2. Healy Consultants fees to assist our Client to legally de-register (click link) a company is US$1,450 (click link).
  3. Please note that the process of de-registering a company is dictated by government authority. It will take approximately 6 months;
  4. Following receipt of de-registration payment, Healy Consultants will i) complete tax and accounting obligations up to de-registration and ii) prepare legal company de-registration documents for our client’s signature iii) legally de-registry the company.

Other annual company renewal considerations

During the annual renewal engagement with our Client, our in-house Legal and Compliance Department (click link) reviews the quality and completeness of our Client file. Consequently, Healy Consultants may revert to your Firm to ask for more up to date due diligence documentation;