Eternity Law International News Change of registration agent for an offshore company

Change of registration agent for an offshore company

December 4, 2020

A registration agent is a person accompanying an entrepreneur during the acquisition or registration of a new offshore company. The agent’s list of actions also includes providing a legal address, accepting notifications sent by the registration authority, and interacting with this institution regarding issues related to the client’s area of interest.

In some cases, an entrepreneur does not want to continue to cooperate with an agent after he receives a package of documents for the company and a bank account opened abroad. Below we will analyze in detail the main aspects of the agent change process for an offshore company.

One of the following can be the reason for looking for a new registration agent:

  • Increase in the cost of services
  • Refusal of the agent to provide services to the client
  • Legal address, chosen by the agent for the client, is blacklisted
  • Termination of the existence of an agent
  • The provided services do not suit the client

The owner of the enterprise must use the following rules in practice:

  1. Make sure that all documents confirming the ownership rights of the beneficiary are drawn up as correctly as possible. The list of documents may include certification, trust agreements, shares, declarations, an agreement with the administrator regarding the maintenance of the enterprise (if necessary and at the request of the owner), etc.
  2. The same person who is indicated in the documents submitted initially must act as the beneficiary.
  3. At the time when the agent is changed, the enterprise must be legalized and not have any debts regarding the payment of duties to the state treasury. Nevertheless, be careful with the agent with whom you are starting a new cooperation – he/she should not demand from you a fee for renewing the company again.
  4. The package of documents must also contain a disclaimer written by the first agent. Therefore, with the consent of the previous agent or not, you have the right to contact the Registry in order to stop cooperating with him/her. This procedure is established by most jurisdictions.

In some cases, the person chosen as a new agent may refuse to cooperate with you, because you did not be polite with the agent who preceded him/her.

Sometimes agents, during the transfer of the company to their colleague, charge the entrepreneur an additional fee, which is, in some way, moral compensation. Although the payment of this amount is not officially quoted, it is best not to ignore this procedure, which will help you maintain a good reputation. Moreover, remember, before starting to cooperate with you, the new agent must give his consent and announce the conditions and principles of his work.

The change of agent for the owner of an offshore company involves the preliminary selection of a new agent or a new secretary company, who would agree to serve this company.

If in terms of choosing an agent for your company, you have any difficulties, contact us, and we will gladly accept you under our service.

Our services include the following:

  • provision of registration agent services;
  • selection of registered company and office addresses for you;
  • secretarial services;
  • payment of state payments and fees required for annual renewal;
  • reporting;
  • consulting at all stages of the introduction of your company;
  • assistance in changing a shareholder or director;
  • ordering Incumbency Certificate and Certificate of Good Standing

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