In order for a struck off company to be restored by the Bahamas Registry the following fees must be paid:
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.
Annual fee in respect of a company registered under this Act on 1st January in each year where authorised capital is not more than $50,000 and under $350.
Annual fee in respect of a company registered under this Act on 1st
January in each year where authorised capital is $50,001 and over $1000
If the company is struck off the register for more one year the cost is annual government fee plus 50%.
i.e. $525 plus $100 and for every year company has been off the register, plus $600 government restoration fee.
Disbursements or Expenses:
Layers fee likely to cost between $6,000 and $10,000 per IBC, depending upon any objection to the application by the Attorney General Office’s Lawyer, who is likely to appear for the Registrar of Companies. Further, the Court is empowered to award that a portion of the Registrar’s cost be paid by the applicant company. We expect this to amount to $2,000 to $3,500 if no objection is put forward by him.
When a Bahamas company is restored, the previous Directors, Company Secretary, Shareholders and Registered Office are automatically assumed to have continued.
A Bahamas 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 can organise.