Limited liability vehicles play a pivotal role on the global economic stage by serving to reduce personal risk and to encourage industry and commerce. Their role in the sphere of international financial services as for example, asset holding and estate planning vehicles, is key. However, limited liability status is not a right. It is a status conferred by statute in exchange for certain information, which must be delivered to the Companies Registry and which in turn, must be made available for public inspection.
The Financial Services Commission, through its company registration operations, is responsible for the administration of the Company and Partnership Ordinances in the Turks and Caicos Islands and is the custodian of public information filed pursuant to such Ordinances. The Companies Registry element of the FSC’s operations is also responsible for the administration of the Business Names (Registration) Ordinance.
The Companies Registry has four core functions
- The incorporation and registration of companies and partnerships;
- The registration of statutory documents filed pursuant to relevant legislation;
- Ensuring compliance with the appropriate legislative requirements and in particular, the timely collection of annual registration fees and the striking off of defunct companies;
- The provision of accurate statutory information to the public in a timely fashion.
The Registry’s Aims
The Registry is committed to delivering the very highest level of service and in so doing, will always aim to balance the needs of those who are required by law to file certain information, against the needs of those who have a statutory right to inspect such information.