public meeting presentation 18 november
DESCRIPTION
Presentation from Basilica on www.companies.gov.to and the re-registration processTRANSCRIPT
Presenters | Peni Latu – Deputy Registrar of Companies
Anthony Frazier | Christopher Hartwell - IFC
Michael Brosnahan – NZCO
Joel Foster - FMIT
Presentation Outline
–IFC involvement in Tonga» Regulatory Reforms & MLCI capacity building–The Tongan Companies Register» Web Content, forms and support functions online» Corporate Information online» Searching the register » Filing documents with MLCI–Re-registration» What’s required» When» What if I don’t re-register
The IFC in Tonga
• Focused on business start-up and business operations• Additional work in investment promotion and
alternative dispute resolution
• Company registry part of regulatory reform more broadly, and making starting a business easier more specifically
• Ultimate goal of reforms is to increase commerce and generate employment for Tongans
Companies Register
• Public Information- www.companies.gov.to Available 24 x 7
- A rich amount of corporate information, prescribed forms, fee schedule, legislation, FAQs and customer support
- Pre Re-registration» Basic information as migrated
- Post Re-registration» Free corporate information including images of certificates and images of documentation filed in the registry
- Corporate information will be available within seconds of entry at MLCI and images within days
Companies Register
• Benefits to MLCI?- A world class registry system that provides:-» Provision for new registrations» Provision for re-registrations» Provision for maintenance of key data» Provision for removal of defunct companies» Provision to monitor and manage corporate compliance obligations
» Up to date information available for the public
» Up to date reporting
Filing Documents with MLCI
Postal address• Registrar of Companies
Ministry of Labour, Commerce and IndustriesPO Box 110 Salote RoadNuku’alofa
Physical address• Ministry of Labour, Commerce and Industries
Latai BuildingSalote RoadNuku'alofa
900313
Re-Registration Timeline
18th November 2009
Public Search Available
1st December 2009
Re-registration commences
31st May 2010
Companies not re-registered will be struck from the register
Re-Registration
• Commences 1 December 2009• 6 month transition period, ends 31 May 2010• Includes both domestic and overseas• Complete Form (16 for domestic and 29 for overseas company)- No fee» Optionally attach AR for 2010 and TOP$75 + 15% consumption tax
- Constitution if differs from standard constitution- Please produce evidence of original incorporation date- Must produce evidence of incorporation if company not on current register
• Must file outstanding AR’s & pay fees/penalties
