Is maintenance easy for offshore company?
Company must be renewed each year to maintain its good standing and comply with the local regulation. Each jurisdiction has a different obligation on what are required to be renewed for specific company types and industries.
Should a company fail to pay often the annual fee and to comply with request due diligence by the due date, the offshore entity loses its good standing and eventually be struck off and /or dissolved. Non-renewed entities may not carry out any business thereafter.