St Vincent And The Grenadines Launches Online Registration System For Offshore Companies
The International Financial Services Authority (IFSA) of St Vincent and the
Grenadines announced in late May that offshore agents will henceforth be able
to incorporate companies for their clients online. This new development has meant that instead of taking one day to file the relevent
documents and issue company certificates, the IFSA can now commit to ensuring
that company documents are available for collection within three hours of the
filing of the information by the agent. The online registry system operated by the Authority also allows agents to
pay their annual fees over the internet, to reserve company names, and to conduct
searches of company files. The system will be operated using a pre-payment model. Explaining the reasoning behind the move in a recent statement, acting executive
director of the IFSA, Louise Mitchell revealed that: "The use of electronic filing is part of the commitment of the Authority
to ensure increased efficiency in the international finance sector." .
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