St Kitts and Nevis Company Restoration
Once a company is struck off the Nevis Company Register we are able to assist with the restoration process.
Struck off Company
A company can be struck off the register for a range of reasons the most common being non-payment of annual license fees.
A company that has been struck off the Register remains liable for all debts, liabilities and obligations of the company. The striking-off does not affect the liability of any of its directors, officers or agents
Nevis Dissolved Company
A dissolved company may still be restored if all arrears and penalties are settled but the process will require permission from the Registrar. We are able to advise with the restoration of dissolved companies.
Effect of a company being struck off
Struck off means the company is no longer in good standing. While the Directors of the company are not restricted from carrying on the business of the company during this time, they will be unable to warrant that the company is in good standing. In addition, no filings can be made with the Registry while the company is inactive.
Once the company has been struck off, neither the company nor any directors or shareholders may carry on any business or in any way deal with the assets or affairs of the company.
It is important to note that when a company is struck off the register, it does not affect the liability of any of its shareholders, directors, officers or agents. Nor does it prevent the company from incurring liabilities, or any creditor from making a claim against the company.
Nevis Company Restoration Process
In order for a struck off company to be restored by the Nevis Registry the following fees must be paid:
- Pay all of the annual government fees it would have paid as if it had remained active
- Pay the government restoration fee to the Nevis registry
- Payment of all unpaid Registered Agent fees
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.
In order to restore your company to the Register we will only need the company name and the date of incorporation. Any Nevis company seeking restoration must bring up-to-date the unpaid government fees.
For information on the restoration process, you may refer to section 99 (6) (2) of the Nevis Business Corporation Ordinance and Section 53 (5) (2) Nevis Limited Liability Company Ordinance.
Good Standing Status
In order for the Registrar to issue a Certificate of Good Standing, your Nevis Company is required to be up to date in all its filings.
Once the company is restored, it is required to have a Registered Office in Nevis, which we can provide.
St Kitts and Nevis Company Restoration Fees
- Government Restoration Fee – US$300
- Payment of all Government fees and penalties per year struck off
- Drafting Resolution to appoint new registered agent – £120
- Filing fee to appoint new registered agent – US$150
- Registered Office Annual Fee – £560
- 3% Transfer fee – for penalties, fees and charges to Nevis – to cover exchange rate changes, bank charges and fees
- Due-Diligence Fee – per Director & Shareholder – £80
Company Search – £196
- Our Assistance Fee to Restore St Kitts & Nevis Company – £540
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 application
- drafting the restoration order
- serving documents and communicating with on the Registrar of Companies
- advertisement if required
- filing the application with the Court if necessary
- attending court hearing
Disbursements or Expenses:
- outstanding filing fees on annual returns
- penalty for late filings and other penalties
- court filing fees
- filing fees to the Companies Registry on the restoration application
Company Directors and Shareholders
When a Nevis company is restored, the previous Directors, Company Secretary, Shareholders and Registered Office are automatically assumed to have continued.
Transferring Registered Agent
A Nevis company can only be restored by the registered agent on record or the agent can be transferred, which we can organise.