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An offshore company must make an annual return in a prescribed from and contain certain prescribed particulars. The return must be kept up to a date not earlier than fourteen days from the date of lodgement and lodged with the Registrar once in a calendar year, not later than thirty days prior to the anniversary of the date of its incorporation.[1]

If an auditor is appointed, the annual return lodged with the Registrar must be accompanied by a certificate each from the auditor[2] and a director.[3] The certificate by the auditor must state that:

a) proper accounts for the financial year have been kept, that a balance sheet and profit and loss account have been prepared and audited; and

b) the director giving the certificate has been furnished with a copy of those accounts.

Copies of the accounts to which this certificate relate to must be kept by the auditors for seven years.

The certificate of the director shall state that he has considered the audited accounts and he must certify with or without qualification that:

a) those accounts show the offshore company was solvent on the date it was made up;

b) he is unaware of circumstances which render those accounts untrue; and

c) no circumstances have occurred since the date on which those accounts were made up would render the company insolvent.