Gibraltar Company Restoration Fees

Company Restoration Process

In order for a struck off company to be restored by the Gibraltar Registry you must.

  • Pay all of the annual government fees it would have paid as if it had remained active
  • Pay the government restoration fee to the Gibraltar registry
  • Payment of all unpaid Registered Agent fees
  • File all outstanding Annual Returns
  • File all all overdue Accounts
  • Change the Registered Agent (if required)

When all the fees and penalties are paid, the Registrar shall restore the name of the company to the register and upon the restoration the company shall be deemed never to have been struck off.

Indication of Filing Fees and Penalties

Finally, to proceed you need to sign a declaration and an affidavit, (which we will draft for you) with a Notary Public.

This will be served on the Registrar in Gibraltar, he will then publish a notice for 30 days.

After that period he will give his consent to the restoration of the company, we then have 90 days to file all the outstanding annual returns and accounts.

Once the application to restore the company is filed, we will issue a Direction to Restore the company in which we will outline the conditions imposed, i.e. the documents that need to be filed etc. Within 90 days from that notice the documents listed in the said Direction need to be filed. Upon receipt of the correct documents we will issue the final Direction confirming the reinstatement and the company would be considered “active” as from that date.

Then he will advise us of the fees and penalties, once they are paid then the company will be restored.

I inform you that the company has been struck-off for the past nine years, we are still on time to re-instate through Companies House. After ten years of struck-off, the reinstatement would have to be requested through the Courts.
PENALTIES:

Annual Returns:  2003 to 2013 @ £195.00 x 11 = £2,145.00, 2014 £165.00,  2015 £135.00,  2016 £105.00,  2017 £075.00, Total: 2,625.00

Annual Accounts: 2001 to 2015 @ £100.00 x 14 = £1,400.00, 2016 £50.00, 2017 £15.00, Total: 1,465.00

Re-instatement fees inclusive of preparation and filing of Annual Returns and preparation and filing of Affidavit. £850.00, these are solely Companies House charges and do not include any administration costs.

If you wish for us to prepare the Balance Sheets of the company. Our standard fee amounts to £240 per preparation of accounts per annum. In this case and considering the number of years for which the accounts have to be prepared, we can make an exception and £120 per accounts.

Once the company is re-instated we would need to apply to the Income Tax Authorities in order to obtain the Tax Identification Number for the company. The fee for this is £250

We will need in due course the following documentation/information on both Directors:

  1. Certified True copy of Passport (by a lawyer, accountant, public notary, commissioner for oaths)
  2. Proof of residential address (this can be Original or certified true copy of a utility bill, bank statement or Driving Licence, if these contain full residential address
  3. Confirmation/documentary evidence of all Assets held by the Company, ie: Properties

However in order to expedite matters we would be more than happy to accept scanned copies on the basis that all original copies follow in a timely manner

Re-Instatement

The above cost can be broken down as follows:

  1. Registry Costs and Fines
    1. Late submission of Annual Returns (2003 – 2016):                       £2,625
    2. Late submission of Annual Accounts:                                             £1,465
    3. Application to Restore:                                                                     £200

Re-instatement Costs

    1. Drafting of Annual Returns (2003-2016):                                        £1300
    2. Drafting of Annual Accounts (2001 – 2016):                                   £1600
    3. Drafting of Application to Restore:                                                   £250
    4. Disbursements / Fee                                                                        £200
  1. Annual Fees (01.02.2017-31.01.2018)
    1. Provision of Registered Office and Secretarial Services:                 £450
    2. Application for Income Tax Number:                                                  £150
    3. Preparation and Filing of 2017 Tax Return:                                      £100
    4. Preparation of 2017 Annual Accounts:                                              £150
    5. Request for complete Archive Bundle from Registrar:                        £50
    6. Filing of 2017 Annual Return:                                                             £75
    7. Filing of  2017 Annual Accounts:                                                        £15
    8. Filing of Particulars re Appointment of Secretary:                               £15
    9. Filing of Voluntary Return of Members:                                              £15
    10. Filing of Notice of Situation re Registered Address:                            £15

Please be advised that there may also exist the need for the Company to obtain a new Business Licence which would be charged separately, around £150.

Legal Costs & Expenses on Company Restoration

  • obtain a company search
  • obtaining and perusing relevant filings and various related documents
  • drafting and completing the documents necessary for the restoration application
  • drafting the restoration order
  • drafting an affadavit
  • serving documents and communicating with on the Registrar of Companies
  • advertisement if required

Disbursements or Expenses:

  • outstanding filing fees on annual returns
  • penalty for late filings and other penalties
  • filing fees to the Companies Registry on the restoration application

Company Directors and Shareholders

When a Gibraltar company is restored, the previous Directors, Company Secretary, Shareholders and Registered Office are automatically assumed to have continued.

Transferring Registered Agent

A Gibraltar company can only be restored by the registered agent on record, or the agent must be changed to a new agent undertaking the company restoration, which we will organise.

Company Restoration Form
Submitting this form does not commit you, we will let you have the fee and time-scale shortly.

 

Gibraltar Company Restoration Fees
  • Government Restoration fee - £200
  • Our Service fee - £260