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A standard financial year for your company via Xolo starts on January 1st and the financial year is 12 months long.

For example, if you start your company after July 1st (in Q3 or Q4 of the first year) then Xolo consolidates this period and the 2nd year into one financial year by default. You‘d need to submit your first annual report after the financial year of the second year has ended and you can pay dividends at the beginning of the third year at the earliest.

However, if a company which was registered in Q3-Q4 of their first year earns profit during this period, and wishes to pay dividends earlier, then Xolo can submit the annual report in Q1 of the second year at your request. In this case, the company can already pay dividends at the beginning of the second year.