Company: EGG
Filing Date: 2025-04-16
Form Type: F-1/A
Source: 0001641172-25-004947
Chunk: 107

Company: ENIGMATIG LTD
Filing Date: 2025-04-16
Form: F-1/A
Chunk 107
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 of our fees upon our appointment by the client, with the remaining 50% received upon our successfully obtaining the license. With respect to periodic license renewals, we typically receive 100% of our fees upon our appointment by the client. With respect to our services for ongoing maintenance and compliance with licenses we typically charge a monthly fee, with two months’ deposit collected in advance. With respect to additional consultancy services, we typically collect 100% of our fees upon our appointment by the client. We set prices for ongoing maintenance and compliance services and additional consultancy services based on the complexity and expected time required to provide the services, the jurisdiction in which the client operates and the general competitive environment.

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Our licensing consultancy services have historically contributed the majority of our corporate services income. In Fiscal 2022, Fiscal 2023, and Fiscal and 2024, corporate services income from licensing consultancy services accounted for 84.6%, 69.5% and 53.6%, respectively, of our total corporate services income for the year.

Corporate secretarial and other services

Overseas
company incorporation services - We help clients from jurisdictions around the world set up overseas companies in numerous jurisdictions,
including directly in the United Kingdom, Hong Kong and Belize. Corporate secretarial services are a regulated activity in Hong Kong
and Belize, which we operate through our licensed Hong Kong subsidiary under the Trust and Company Service Providers (TCSP) and our licensed
Belize subsidiary under the Financial Services Commission of Belize (FSC). We also provide these services indirectly through third party
professional partners in over 15 other jurisdictions, primarily including the BVI, Dubai Multi Commodities Centre, the Seychelles and
St. Vincent. In Fiscal 2022 we helped 72 clients incorporate companies in 11 distinct jurisdictions, and in Fiscal 2023 we helped 50
clients incorporate companies in 14 distinct jurisdictions. In Fiscal 2024, we helped 46 clients incorporate companies
in 13 distinct jurisdictions. In Fiscal 2022, Fiscal 2023 and Fiscal 2024, corporate services income from incorporation
services accounted for 14.1%, 15.8% and 17.6%, respectively, of our total corporate services income. We believe our ability to
assist clients to incorporate overseas entities is a cornerstone of our relationship-focused approach and of more strategic importance
than just the corporate services income such service generates, as clients for whom we provide licensing services often first require
incorporation services and such newly