CARICOM Moving Towards Implementing Company Registries Online

GEORGETOWN, Guyana (CMC) – The Guyana-based Caribbean Community (CARICOM) Secretariat said, on Tuesday, that company registries within the CARICOM Single Market and Economy (CSME) will go online this year.

It said, this development stems from an ongoing project funded by the 10th European Development Fund (EDF) to create an online regional registry of companies.

“This will serve as a central repository of information on companies and other legal entities established in the CSME. The move should address some challenges related to the Right of Establishment regime within the CSME.

“This regional registry would facilitate information exchange and networking among the national companies registries and the Secretariat. It would also function as a portal via which persons can perform name searches, reserve business names, and register a company in CSME member states,” the Secretariat added.

The CSME allows for the free movement of skills, labour goods and services across the region and the Secretariat said that as part of the new project the company registry in each member state will be converted to an online system to facilitate participation in the regional e-registry.

It said, on Thursday last week, there will be a demonstration of the national registry system (NRS) via video conference to member states by Caseflow Systems, the project consultants and developers of the prototype software information system.

“Thursday’s demonstration session will explain the key features and functions of the system and invite comments and recommendations from member states. Participants will comprise national registrars and other relevant personnel who are expected to utilize and interact with the system.”

The Secretariat said that the NRS will be deployed in 12 CARICOM countries over the coming months and relevant users will be able to access the system.

“There will also be a demonstration of the regional registry system in early February to member states to obtain feedback on its functions and any possible improvements to the system before it is deployed,” it said, adding “this session will also take place in Barbados.”

The Secretariat said, that the online registry within the CSME is a vital part of the drive toward creating a single jurisdiction for companies operating in the single market whereby once registered in one participating member state, companies will be deemed as being registered in all.

It said, the 12 participating states are Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, St. Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, and Trinidad & Tobago.