* 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."
