Most companies that are registered in offshore locations are required to have a "registered agent".
What is a registered agent?
Registered agents are the people who make changes or deposits with the company on your behalf. They help you keep the corporation in good standing.
When you first think about registering an offshore company, you start with tax planning and legal issues. You don't really think about who to register the company with. It is vitally important to make sure you register the company with the right people. This could have an impact on your business.
When you are considering registering your business, there are a number of factors to consider:
- Are they a trustworthy company?
- Can you read comments about the company - are they good, bad or indifferent?
- Are their fees reasonable? Not only the installation costs, but also the ongoing costs!
- Can they help you with anything you need?
These are just a few factors you should consider.
Should you change your registered agent?
If you have already registered an offshore company and you are not satisfied with your current registered agent, the good news is that you can change agent. Of course, this could result in additional fees. But if you do not receive acceptable service and you are not satisfied with your registered agent, it is important that you do what is good for your business.
If you don't get the support you need, and they don't help you keep the business in good standing, it's important that you consider changing agents. If your business is not kept in good standing, you could receive penalties from the government. You will be responsible for them, of course the agent will not pay them. You will also be unable to open a bank account and may have difficulty negotiating.
What to consider before changing agents
There are a few important points that you should consider before changing agents, including:
- Keep your agent well-connected. Your current agent is required to approve the change of agent, so make sure you try to have a good relationship with them.
- Make sure your business is up to date. To be able to change the agents your company needs to be in good standing. Make sure all fees have been paid to the current agent and make sure the company is in good standing with the government.
- Don't take too long. We usually say it takes about 1 month to change agents. Please make sure that the renewal of your business is not too close to the day you decide to change agent as this could affect the status of your business.
And also
- Bank accounts - if your company has a bank account, you must ensure that you update the bank with the new registered agent details.
- Designated Agents - if your company has candidates, you must make sure that you can keep the existing candidates And check that the new registered agent can offer candidates
- Address of the head office. A registered office is a requirement for all offshore companies. But sometimes the registered agent may not provide this service. Please make sure that the registered agent also offers this service.
- Price. Are the new agent prices reasonable? Don't just consider renewal fees but also fees when you want to make changes to the business.
Your company's registered agent is important because he or she will help you make changes to your business and assist you with your needs. It is important that the service you receive is up to your standards. Be sure to read the comments about the agent, perhaps ask others for their opinions and most importantly, make sure you are happy!
