Organizations, both onshore and off-shore, need to resort to annul renewal services for staying compliant with the region-specific guidelines. In most cases, annual renewal isn’t a taxing process but companies fail to adhere to the same on time. Failing to comply with annual renewal attracts penalties or even permanent termination from the registers.
At IMC, we make sure that all the formalities, related to annual renewals are taken care of. We handle agent services and allow companies to breathe in peace, without having to worry about renewal reminders. Our professionals duly monitor every corporate documents and company register while enlisting every service that requires renewals. Not just that, our services are relevant to the evolving regulatory landscape which means that we take a note of the changing fee structure associated with renewals and even the new set of documents that might be required to initiate the same.
Most offshore firms register themselves according to the regulatory guidelines of a particular jurisdiction. In most cases, the registrations attract a one-time fee but are subject to yearly renewals. Annual renewal is a process where the company maintains its stand in the concerned financial hierarchy and acknowledges its presence.
The inability to renew the company registration attracts massive penalties. However, if the company fails to respond to the reminders and doesn’t renew even after that, even delisting is possible. Besides penalties, there are several risks of frozen bank accounts and even legal summoning from the authorities.
We make sure that it doesn’t even come to the reminders. At IMC, we offer a pretty holistic approach towards handling annual company renewals. Our approach is watertight and concrete which takes care of every managerial and administrative aspect related to renewals. We offer an accessible interface to the organizations where they can constantly monitor the health of the firm while managing payments for the renewal process.
- Round the clock access
- Payment synchronization based on the renewal timeline
- Offering information regarding the changing legislative guidelines, if any
- Keeping a track of the payment status, regardless of the number of branches
- Preparation of annual renewals of fee structure
- Ability to download receipts and invoices
- Specific reminders for the authorities to keep a track of the elapsed time
- Email centric conversations for minimizing paper usage
- Procuring updated documents like business license and confirmation receipts after completion of the renewal process
Region-specific government and concerned authorities constantly modify the organizational and financial guidelines to help them stay relevant. With the international financial circuit continuously encountering changes, the annual renewal of the registration becomes all the more important, especially to check and maintain relevance.
IMC understands that renewals keep the firms in the good books for the government. Moreover, to keep the business and the concerned bank account intact, it is imperative to renew the listing. We take care of the renewal dates which are different for each jurisdiction and make sure that all the documents are submitted before the stipulated timeframe.
Lastly, we also enlist, store, maintain and retrieve all the necessary documents that are necessary for a hassle-free renewal.