Annual Maintenance of Offshore Companies
Why should I pay for the Registered Office and Registered Agent if I don`t even use them?
You do use them. More exactly, your IBC does. Apart from lending his office address to be represented as the legal address of your IBC, the Registered Agent is also legally responsible for safe custody and update of certain corporate documents - namely, the Memorandum and Articles of Association of the IBC, the Register of Members, the Register of Directors, copies of all Resolutions, notices and filings produced by the company during its existence. Furthermore, unless the directors of the company have resolved otherwise, the Registered Agent is also the custodian for all Minutes of the meetings and Resolutions of Shareholders, and all Minutes of meetings and Resolutions of Directors. It is the duty of the Registered Agent to keep these documents up-to-date and available for inspection by the directors, shareholders and owners of the IBC. Finally, the Registered Agent acts as the official intermediary between the IBC and the Belize Government, in particular what concerns timely payment of the Government renewal fees. All in all, the Registered Agent performs several important legal functions, which are essential for the IBC to legally exist.