The Companies Ordinance 2017 will come into operation on 1st February 2018 in the TCI and will replace the existing Companies Ordinance, Cap 16.08, after a transition period ending 31st October 2018.
In a release to RTC News, FSC added that “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.”
The release further added, that 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
