Bahamas News
TCI: New Companies Ordinance to come into force on 1st February 2018
#TurksandCaicos, January 21, 2018 – Providenciales – The Companies Ordinance 2017 will come into operation on 1st February 2018 and will replace the existing Companies Ordinance, Cap 16.08, after a transition period ending 31st October 2018. All companies incorporated or registered after 31st January 2018 will fall under the new Ordinance, while existing companies will have until 31st October 2018 to voluntarily register under the new Ordinance. After that date companies not registered will be automatically registered under new Ordinance.
All entities registered or incorporated under the Companies Ordainance 2017 will be required to appoint a licensed Company Manager as its Registered Agent.
The statutory provisions governing registration and the transition are contained in Schedule 1 of the Companies Ordinance 2017, which may be accessed at http://tcifsc.tc/departments/registries/companies/companies-legislation
Additional information on the registration of companies under the Companies Ordinance 2017 and a list of contact details for licensed Company Managers/Agents may be found on the Financial Services Commission website at http://tcifsc.tc/departments/company-managers-investments/company-managers/company-managers-agents
Please note that the Registry is not the competent authority to advise individuals on the advantages or consequences of voluntary and/or automatic registration; accordingly, our staff are not authorised to provide such advice. In the event you require such guidance you are invited to seek independent legal advice or consult with a licensed Company Manager or Agent.
Registrar of Companies