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The yearly bill, jurisdiction by jurisdiction

Annual fees by country: what a company costs to keep each year

Updated 13 November 202625 offshore and international jurisdictions5 US states
The short answer

Keeping a company costs two things every year: a government fee, fixed by law and from zero in Estonia, Bulgaria, Georgia, Switzerland and New Mexico to US$2,595 in Bermuda (Curaçao's gaming licence aside), and the registered agent and filings every company must have. All in with Heirson, the yearly bill runs from US$69 a year for a New Mexico LLC to US$4,990 for a Labuan company, with Curaçao apart because its gaming licence fee alone starts at €24,490.

The cheapest place to keep is not always the lightest. Compare both.

See all 30 yearly bills The filing calendar
Cheapest to keep outside the US
€159 a year to keep an Estonian OÜ, every state fee included
Government fee
€0
Annual report
6 months after year end
Not included
Bookkeeping
Next cheapest
Seychelles US$580

Formation prices get all the attention, but formation happens once. The yearly bill is what you live with, and it is where offshore price lists get vague: a range here, "from" there, the government fee folded in or left out. Below is every jurisdiction we form companies in, with the fee the government charges, the full yearly price with us, the dates you have to hit, whether accounts are filed or audited, and what a missed date costs. Every row links to that country's own annual fees page, where the figures are worked through line by line.

01

The yearly cost of keeping a company, all 30 jurisdictions

Prices are in the currency each jurisdiction charges in. The US$ equivalent column lets you sort across currencies, converted at the European Central Bank reference rates of 13 November 2026 (and the official pegs for the dirham and the dinar).

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Accounts
Currency

Yearly cost of keeping a company in 30 jurisdictions: government fee, Heirson yearly price, equivalent, deadlines, accounts, late penalty and number of yearly filings
Yearly with Heirson Deadlines Late penalty
BahrainBahrain WLLAnnual feesForm one
 BD 166CR renewal, activity fee and chamber membership BD 1,090Government fee included US$2,899 Registration on its anniversary; audited accounts 6 months after year end AuditedAudited from year two BD 10 a month late, rising to BD 30 in year three 4
BelizeBelize company (Belize Companies Act 2022)Annual feesForm one
 US$250Plus about US$110 when the tax exemption is claimed US$740Plus about US$110 in years the exemption is claimed US$740 Tax return 31 March; annual return and fee 30 June; substance report 9 months after year end PrivateRecords kept in Belize or sent quarterly From US$500 plus US$250 a day 3
BermudaBermuda exempted companyAnnual feesForm one
 US$2,595Annual fee US$2,095 plus US$500 regulatory fee, smallest capital band US$4,490Government fee included US$4,490 Fee and declaration during January PrivateAudit waivable by members US$300, or US$100 to US$500 a day 3
British Virgin IslandsBVI business companyAnnual feesForm one
 US$550US$1,350 above 50,000 authorised shares US$1,159Government fee included US$1,159 Fee 31 May or 30 November by formation month; declaration 6 and return 9 months after year end PrivateFinancial return to the agent 10%, then 50% after two months 3
BulgariaBulgarian EOODAnnual feesForm one
 €0Publishing accounts is free €1,390Government fee included US$1,536 Tax return by 30 June; accounts published by 30 September PublishedFree to read on the register Unpublished accounts: up to 0.5% of net sales on top of a personal fine 2
Cayman IslandsCayman exempted companyAnnual feesForm one
 US$1,2502027 rate, smallest capital band (CI$925 in 2026) US$1,929Government fee included US$1,929 Return, fee and substance notice every January PrivateBooks kept, no audit A third more from April, double from October 2
CuraçaoCuraçao company for a gaming licence (B2C operator or B2B supplier)Annual feesForm one
 €24,490 to €47,450Gaming licence (B2B to B2C), not in our price US$4,890plus the gaming licence fee US$4,890Licence fee on top Licence 15 January; tax returns 3 and 6 months after year end; accounts 30 June PrivateTo the Gaming Authority Late tax return XCG 250 to XCG 2,500 5
CyprusCyprus company (private limited company)Annual feesForm one
 €20Annual return fee; the old levy is abolished €1,890Government fee included US$2,089 Annual return within 28 days of its date; owner confirmation October to December AuditedAudit or review, dormant included Late return €50 plus €1 a day, capped at €150 4
DelawareDelaware LLCAnnual feesForm one
 US$400Flat LLC tax; US$300 until the 2026 payment US$539Government fee included US$539 Tax by 1 June; Form 5472 by 15 April None filedNo accounts filed with the state US$200 plus 1.5% a month 2
EstoniaEstonian OÜ (private limited company)Annual feesForm one
 €0No yearly state fee €159State fees included; bookkeeping not US$176 Annual report 6 months after year end PublishedPublic annual report Fines set case by case; the company can be deleted 2
FloridaFlorida LLCAnnual feesForm one
 US$138.75Annual report US$50 plus US$88.75 supplemental fee US$207.75Government fee included US$208 Annual report 1 January to 1 May; Form 5472 by 15 April None filedNo accounts filed with the state US$400 from 2 May, never waived 2
GeorgiaGeorgian LLC (the country, registered in Tbilisi)Annual feesForm one
 GEL 0No yearly registry fee US$1,190Government fee included US$1,190 Profit tax return on the 15th of every month; statements by 1 October PublishedPublished on Reportal 5% of tax due a month, capped at 30% 1312 monthly tax returns plus statements
GibraltarGibraltar private companyAnnual feesForm one
 £129Annual return £103 plus accounts filing £26 £890Government fee included US$1,177 Return 30 days after anniversary; accounts 12 months and CT1 9 months after year end PublishedAbridged balance sheet public Late CT1 from £100 to £1,300 3
GuernseyGuernsey company (administered by a licensed corporate service provider)Annual feesForm one
 £525Current rate; a 4.3% rise is announced £2,590Built on the announced £548 fee US$3,426 Validation 1 January to end of February; tax return 30 November PrivateWith the tax return; audit unless waived £450, doubling twice to £1,800 2
Hong KongHong Kong private company limitedAnnual feesForm one
 HK$2,455Business registration HK$2,350 plus annual return HK$105 US$289plus HK$2,455 government fees US$602 Registration on anniversary; annual return within 42 days of it; profits tax return from April AuditedAudit every year unless dormant HK$870, rising to HK$3,480 4
Isle of ManIsle of Man 2006 Act companyAnnual feesForm one
 £380Annual return fee £1,890Government fee included US$2,500 Return within a month of anniversary; tax return 12 months after year end PrivateKept, not filed £480 after a month, £630 after three 2
JerseyJersey private companyAnnual feesForm one
 £344Confirmation fee for 2027, including the levy £2,870Government fee included US$3,796 Confirmation 1 January to end of February; tax return 30 November PrivateAttached to the tax return £79 in March, rising to £797, then struck off 2
LabuanLabuan companyAnnual feesForm one
 US$1,000Labuan FSA fee from 1 January 2026 US$4,990Government fee included US$4,990 Fee by anniversary; owner filing 31 January; tax return 7 months after year end AuditedAudit, copy to Labuan FSA Half the fee added after six months 5
MaltaMalta private limited companyAnnual feesForm one
 €85Annual return, smallest authorised capital €2,020Government fee included US$2,233 Return 42 days after anniversary; accounts 10 months after year end PublishedFiled and audited unless very small Up to €2,329 plus €46 a day 6Includes three provisional tax payments
Marshall IslandsMarshall Islands non-resident corporation or LLCAnnual feesForm one
 Not published US$699Government fee included US$699 Renewal on anniversary; substance report within 12 months of it None filedNo accounts filed with the state No published late fee; revoked after a year 2
MauritiusMauritius Authorised CompanyAnnual feesForm one
 US$1,530FSC licence US$1,400 plus Registrar US$130 US$3,020Government fee included US$3,020 Registrar fee 3 to 20 January; FSC licence yearly; returns 6 months after year end PrivateFinancial summary to the FSC FSC fee: US$350 added in the first month 4
NevadaNevada LLCAnnual feesForm one
 US$350Annual list US$150 plus business licence US$200 US$419Government fee included US$419 Last day of the formation month; Form 5472 by 15 April None filedNo accounts filed with the state US$175 added (US$525 in all) 2List and licence filed together
NevisNevis LLCAnnual feesForm one
 US$300EC$810 since 1 April 2025 US$699Government fee included US$699 Renewal before anniversary; CIT-101 by 15 April None filedNo accounts filed with the state US$200 after a month, US$400 after six 2
New MexicoNew Mexico LLCAnnual feesForm one
 US$0No annual report US$69Government fee included US$69 Nothing to the state; Form 5472 by 15 April None filedNo accounts filed with the state None: nothing is due 1
PanamaPanama corporation (sociedad anonima)Annual feesForm one
 US$300Tasa unica, balboa at par with the dollar US$1,090Government fee included US$1,090 Tasa unica 15 January or 15 July; records to agent 30 April PrivateRecords to the resident agent B/.50 a period; B/.300 after two missed 2
SeychellesSeychelles IBCAnnual feesForm one
 US$140Flat FSA fee US$580Government fee included US$580 Fee on anniversary; financial summary 6 months after year end PrivateSummary kept with the agent 10%, 50% after 90 days, dissolved at 180 4Records to the agent twice a year
SwitzerlandSwiss GmbH (Zug)Annual feesForm one
 CHF 0No yearly register fee CHF 3,849Government fee included US$4,591 Accounts and meeting 6 months after year end; Zug tax return 30 September AuditedLimited audit unless members opt out Up to CHF 1,000 for a late tax return 4
The BahamasBahamas IBC (International Business Company)Annual feesForm one
 US$350US$1,000 above US$50,000 authorised capital US$990Government fee included US$990 1 January (no surcharge to 31 March); substance report 9 months after year end PrivateRecords kept, nothing filed 10% after 31 March, half the fee more after 31 October 3
United Arab EmiratesRAK ICC companyAnnual feesForm one
 AED 3,950RAK ICC one year renewal AED 7,709Government fee included US$2,099 Renewal on anniversary; corporate tax return 9 months after period end PrivateNothing to the RAK ICC registry Monthly penalty after 30 days of grace 2
WyomingWyoming LLCAnnual feesForm one
 US$60Minimum annual report licence tax US$130.44Government fee included US$130 First day of the formation month; Form 5472 by 15 April None filedNo accounts filed with the state No fee; dissolved 60 days after the due date 2

Filings counts the routine yearly filings and payments named on each country page, including the US Form 5472 for a single foreign owner of a US LLC; event driven updates (a new director, a change of owner) aren't counted. Government fees are the standard rate for the smallest company; larger capital pays more, as each country page shows. Hong Kong's equivalent adds the HK$2,455 government fees to our US$289; Curaçao's is left blank because its licence fee is not in our price.

02

Where the yearly money goes

Each bar is the full yearly price from the table, split into the part the government takes and the part that pays for the registered agent, office and filings. Hover or tap a name to open its fee page.

Government feeAgent, office and filings

Curaçao is left off: its gaming licence fee, from €24,490 a year, would flatten every other bar. The Marshall Islands bar is hatched because the Registrar does not publish its fee separately. Amounts converted at ECB reference rates of 13 November 2026.

Two things jump out. The government's share swings wildly: it is most of Bermuda's bill and none of Estonia's, Bulgaria's or Switzerland's. And the agent's share follows the work: places that want audited accounts or monthly tax returns cost more to keep, whatever the government charges.

TakeawayCompare the full yearly price, never the government fee alone. A zero state fee can sit on top of the heaviest paperwork.

03

Cheapest to keep vs least paperwork

The two lists overlap less than you'd expect, and both follow the offshore or US filter on the table above. The paperwork score adds the routine yearly filings to the weight of the accounts rule: nothing filed counts 0, accounts kept or filed privately 1, published 2, audited 3.

Cheapest to keep

Full yearly price, lowest first, in US dollars.

    Least paperwork

    Fewest yearly filings and the lightest accounts rule.

      Say you keep a BVI companyUS$1,159
      and a Wyoming LLC that invoices US clientsUS$130.44
      Yearly, all inUS$1,289.44
      Routine filings5 a year
      AccountsBVI return to the agent; nothing in Wyoming

      TakeawayIf you'll never look at the company between renewals, pick from the right list. If every dollar counts, the left one, and budget for the bookkeeping it assumes.

      04

      The filing calendar: fixed dates across the year

      Where a deadline hangs on the financial year end, it is placed for a 31 December year end. Everything else on this calendar falls on the same date for every company in that jurisdiction.

      January

      • Bahamas fee due 1 Jan
      • Bermuda fee and declaration
      • Cayman return and fee
      • Guernsey validation opens
      • Jersey confirmation opens
      • Mauritius Registrar fee, 3 to 20 Jan
      • Panama tasa unica, 15 Jan (second half registrations)
      • Curaçao licence fee, 15 Jan
      • Labuan owner filing, 31 Jan
      • Cyprus tax return, 31 Jan (two years on)

      February

      • Guernsey validation closes
      • Jersey confirmation closes

      March

      • Belize tax return, 31 Mar
      • Bahamas surcharge after 31 Mar

      April

      • US Form 5472, 15 Apr (all five states)
      • Nevis CIT-101, 15 Apr
      • Panama records to agent, 30 Apr

      May

      • Florida annual report, 1 May
      • BVI fee, 31 May (first half formations)

      June

      • Delaware tax, 1 Jun
      • Belize annual return, 30 Jun
      • Estonia annual report, 30 Jun
      • Bulgaria tax return, 30 Jun
      • BVI substance declaration
      • Swiss accounts and meeting
      • Bahrain audited accounts
      • Mauritius summary and tax return
      • Curaçao accounts, 30 Jun

      July

      • Panama tasa unica, 15 Jul (first half)
      • Labuan tax return, 31 Jul

      August

      • No fixed dates on this list

      September

      • Bulgaria accounts published, 30 Sep
      • Zug tax return, 30 Sep
      • Gibraltar CT1, 30 Sep
      • BVI financial return
      • Bahamas substance report
      • Belize substance report
      • UAE corporate tax return
      • Malta tax return

      October

      • Georgia statements, 1 Oct
      • Malta accounts approved, 31 Oct
      • Cyprus owner confirmation opens

      November

      • BVI fee, 30 Nov (second half formations)
      • Guernsey tax return, 30 Nov
      • Jersey tax return, 30 Nov

      December

      • Cyprus owner confirmation closes
      • Gibraltar accounts, 31 Dec
      Due on each company's own anniversary, so not on the calendarWyomingNevadaHong KongIsle of ManMaltaSeychellesNevisMarshall IslandsLabuanUnited Arab EmiratesGibraltarBahrainCyprusPlus Georgia's profit tax return on the 15th of every month.

      TakeawayJanuary to March is the crunch: 11 jurisdictions on this list have a fixed date in the first quarter.

      05

      LLC fees by state: the five states foreign owners use

      State tables online list all fifty. A founder living abroad picks from a handful, and the yearly bill is what separates them. New Mexico asks for nothing at all each year; Delaware's flat LLC tax rises to US$400 for the payment due on 1 June 2027.

      StateState fee a yearYearly with HeirsonDueIf late
      New MexicoUS$0US$69Nothing to the stateNone: nothing is due
      WyomingUS$60US$130.44First day of the formation monthNo fee; dissolved 60 days after the due date
      FloridaUS$138.75US$207.75Annual report 1 January to 1 MayUS$400 from 2 May, never waived
      NevadaUS$350US$419Last day of the formation monthUS$175 added (US$525 in all)
      DelawareUS$400US$539Tax by 1 JuneUS$200 plus 1.5% a month

      Every one of them adds the same federal duty for a single foreign owner: Form 5472 with a pro forma 1120, due to the IRS by 15 April, whatever the state. Our Form 5472 guide walks through it.

      TakeawayThe state fee is small in all five. The date you must not miss is the federal one.

      06

      What a missed date costs

      Penalties are where cheap jurisdictions stop being cheap. They come in four shapes:

      Percentage of the fee

      Small at first, then steep.

      1. British Virgin Islands10%, then 50% after two months
      2. The Bahamas10% after 31 March, half the fee more after 31 October
      3. Cayman IslandsA third more from April, double from October
      4. Seychelles10%, 50% after 90 days, dissolved at 180
      5. LabuanHalf the fee added after six months
      6. United Arab EmiratesMonthly penalty after 30 days of grace
      7. DelawareUS$200 plus 1.5% a month

      Fixed sums that climb with time

      Each month or quarter late moves you up a step.

      1. Guernsey£450, doubling twice to £1,800
      2. Jersey£79 in March, rising to £797, then struck off
      3. Hong KongHK$870, rising to HK$3,480
      4. Isle of Man£480 after a month, £630 after three
      5. BahrainBD 10 a month late, rising to BD 30 in year three
      6. NevisUS$200 after a month, US$400 after six
      7. FloridaUS$400 from 2 May, never waived
      8. NevadaUS$175 added (US$525 in all)
      9. CyprusLate return €50 plus €1 a day, capped at €150
      10. PanamaB/.50 a period; B/.300 after two missed
      11. MauritiusFSC fee: US$350 added in the first month
      12. GibraltarLate CT1 from £100 to £1,300

      Fines on accounts and tax returns

      The renewal is cheap; the reporting is where the fines sit.

      1. BulgariaUnpublished accounts: up to 0.5% of net sales on top of a personal fine
      2. EstoniaFines set case by case; the company can be deleted
      3. MaltaUp to €2,329 plus €46 a day
      4. SwitzerlandUp to CHF 1,000 for a late tax return
      5. Georgia5% of tax due a month, capped at 30%
      6. BelizeFrom US$500 plus US$250 a day
      7. BermudaUS$300, or US$100 to US$500 a day
      8. CuraçaoLate tax return XCG 250 to XCG 2,500

      No late fee at all

      Nothing to pay late, but the company is dissolved or revoked if you let it lapse.

      1. WyomingNo fee; dissolved 60 days after the due date
      2. New MexicoNone: nothing is due
      3. Marshall IslandsNo published late fee; revoked after a year
      A company struck off for unpaid fees usually still owes them. Restoring it costs the arrears plus a reinstatement fee, and in some places the company is dissolved outright, so a lapsed renewal can cost more than the company did.

      TakeawayEvery Heirson yearly price includes the government fee paid before its due date, so the penalty column stays theoretical.

      07

      Questions about yearly company costs

      How much does it cost to maintain an offshore company each year?
      On our list of 25 offshore and international jurisdictions, the full yearly price with the government fee included runs from €159 in Estonia (before bookkeeping) to US$4,990 for a Labuan company. Curaçao sits apart, because its gaming licence fee alone starts at €24,490. Most classic offshore companies, such as the BVI at US$1,159 or Seychelles at US$580, land between US$500 and US$2,000.
      Which offshore company is cheapest to keep?
      Estonia, at €159 a year, if you handle the bookkeeping and annual report yourself. Among classic offshore companies with no accounts to publish: Seychelles at US$580, the Marshall Islands and Nevis at US$699 each, and Belize at US$740.
      What are the yearly LLC fees in Wyoming, Delaware, Florida, Nevada and New Mexico?
      State fees each year: New Mexico nothing, Wyoming US$60 minimum, Florida US$138.75, Nevada US$350 and Delaware US$400 from the payment due 1 June 2027. A single foreign owner also files Form 5472 with the IRS by 15 April in every state.
      Do offshore companies have to file accounts?
      It depends on the place. In the Bahamas, Cayman, the Isle of Man and the Marshall Islands nothing is filed, though records must be kept. The BVI, Panama, Seychelles and Mauritius want a financial return or summary with the agent or regulator, not published. Malta, Bulgaria, Estonia, Georgia and Gibraltar put accounts on the public file, and Hong Kong, Labuan, Cyprus, Bahrain and Switzerland need an audit or review.
      What happens if I miss the annual fee?
      A surcharge first, from 10% of the fee in the BVI, the Bahamas and Seychelles to fixed sums that climb each month in Guernsey, Jersey and Hong Kong. Leave it long enough and the company is struck off or dissolved, and restoring it costs the arrears plus a reinstatement fee.
      Is the government fee included in Heirson's yearly price?
      Yes, in every jurisdiction on this page except two: Hong Kong, where the HK$2,455 business registration and annual return fees are paid on top of our US$289, and Curaçao, where the gaming licence fee is separate.

      Changelog. 13 November 2026: first published, with currency equivalents at the European Central Bank reference rates of 13 November 2026 and the official US dollar pegs of the UAE dirham (3.6725) and the Bahraini dinar (0.376). 13 November 2026: official sources linked inside the text.

      Know the second year's bill before the first.

      Every place we form companies in shows its yearly price up front, with the government fee inside it and the dates handled for you.

      Compare jurisdictions What each register shows