Montserrat Launches Online Portal for Registration & Incorporation of Companies and its Publicly Accessible Register of Beneficial Ownership (PARBO)

The Financial Services Commission (FSC) has hailed its new online portal for company registration and incorporation.

The portal also includes a Publicly Accessible Register of Beneficial Ownership.

This advances corporate transparency that significantly helps in preventing companies from being used as vehicles for money laundering, terrorist financing and proliferation financing. 

The FSC says the launch marks a significant step in the jurisdiction’s efforts in being compliant with the Financial Action Task Force (FATF) and other international standards. 

Notably, the online system which is hosted by the Companies and Intellectual Property Office was developed by Montserratian, Jhovan Daniel, an IT Expert and Software Developer. 

The online platform streamlines company registration, including seamless updates to beneficial, ownership information, and provides public access to basic and beneficial ownership information. 

Beneficial Ownership details are automatically integrated into the PARBO during registration of a company and if any further changes are made by the company. 

Also, due diligence checks and screening is conducted for all potential Directors, Persons with Significant Control and Shareholders of a company on registration and also on an ongoing basis using an automated integrated Anti-money Laundering and Countering Terrorism Financing

screening tool. 

According to the FSC, all existing companies must re-register as per the obligations set out under the Companies Act 2023, Companies Regulations 2024, and Persons with Significant Control (Registration) Regulations 2024. The deadline for all registration is March 7, 2025. 

The FSC is strongly encouraging companies to re-register, ensuring compliance with Montserrat’s laws and regulations within the stipulated deadline.