|Formation Agent||Lawyer or Accountant||The Keylink Group|
There are a number of formation agents offering to incorporate Gibraltar companies for around £845 to £995 but very curiously this price includes the first year's annual running costs. Why? The charges that will be made for subsequent second-year annual fees are unclear or not specified at all. This lack of transparency enables the service provider to charge clients unspecified fees for annual services.
Caution, if you are considering paying by credit card, your card could be debited automatically for second year annual fees for prohibitive amounts. Questioning or disputing the level of second year annual fees could result in you paying a substantial exit fee to transfer your company to another provider or you may need to abandon your company altogether.
Warning about Mail Forwarding Services Most Formation Agents do not or cannot supply simple mail forwarding and telephone answering services. One of our competitors offers an all in Gibraltar Company package of £1,200 which includes incorporation and annual running costs. But if you want any mail forwarded or your telephone answering it will cost an additional £550 per year.
Enquiry Charges: in many cases competitors charge lower than normal fees to disguise hidden fees charged at a later date. It is inevitable that on occasions you will need to make an inquiry, maybe on a simple compliance matter, or to order additional services, such as making a contract, requesting a certificate of good standing, or reporting difficulties with your bankers. Most formation agents, accountants and lawyers charge between £50 to £100 per hour, many charging a minimum of time of 30 minutes or one hour. Some low-cost high volume formation agents are extremely busy and are very difficult to contact by telephone or e-mail. If you require a service that needs prompt action you could be very disappointed and could result in your company sustaining unnecessary losses.
Bank Accounts. Some competitors offer to open bank accounts for as little as £150. These banks are in countries such as Latvia, Estonia, Belize, and some South American countries. We ourselves checked the credit rating of a Latvian Bank, offered by a competitor on the Internet. The credit rating of this bank was low. Another competitor does offer to open bank accounts with reputable banks. Their charge is £500 plus with no guarantee that the account will be opened. The Keylink Group charges a fixed-price, guaranteeing that accounts will be opened for all genuine clients.
Annual Fees. Some of our competitors also charge a £200 annual government fee for non-resident Gibraltar companies. This is totally illegal as there is no annual resident fee and these companies are just pocketing your £200 every year. Very surprisingly one of the world's most prestigious offshore providers still charges its clients this £200 annual government fee!!!.
The Keylink Groups fully managed company package, includes for a fixed annual fee a vast range of services, some of which are listed above as extras by our competitors. Fully inclusive Keylink Group services include: