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I am not renewing my offshore company. What do I have to do now?

Discussion in 'Offshore Company formation' started by Yaneek, Jun 13, 2018 at 11:30.

  1. Yaneek

    Yaneek New Member Entrepreneur

    My offshore company will expire soon. I will not renew it.
    I do have a nominee director and the company is in the Seychelles.

    Is there anything I have to do? i.e have the director sign any papers? For example my resignation as shareholder or anything similar?

    Or I simply don't pay for renewal an that's all?

    Is it worth paying for the company to be closed completely or should I just let it expire?
     
  2. Martin Everson

    Martin Everson Offshore Consultant Mentor Group Entrepreneur

    Do nothing and just ignore it. The company will fall out of good standing and be struck off eventually.

    You can pay for it to be closed and pay the nominee, registered address, cost of shutting down etc etc. If you can afford it then do it.
     
  3. Yaneek

    Yaneek New Member Entrepreneur

    Well it would cost a lot to close it. Around 2000 eur.
    I could pay that but I am not sure if it's worth it.
     
  4. Martin Everson

    Martin Everson Offshore Consultant Mentor Group Entrepreneur

    If you can afford to do it then close it properly :)