Abu Dhabi Global Market (ADGM)
Abu Dhabi Global Market is a broad-based international financial centre for local, regional and international institutions that will, for the first phase of its development, centre its activities on what it views as Abu Dhabi's inherent natural strengths of private banking, wealth management and asset management.
ADGM's three independent authorities: The Financial Services Regulator, The Registration Bureau and The Courts, ensure that a business-friendly environment operates in line with international best practice that are recognised by major financial centres across the world.
ADGM use Foster Moore's Catalyst software to deliver world-class electronic registries. Foster Moore provide registers for companies, partnerships, auditors and property to ADGM.
Foster Moore International Limited has been contracted by the Australian Taxation Office (ATO) to support the government of Australia's Modernising Business Registers (MBR) program.
Foster Moore will provide our registry aware platform, Verne®, as part of the wider MBR platform.
The MBR program aims to improve the administration of business registers and unify the Australian Business Register (ABR) and the 31 business registers held with the Australian Securities & Investment Commission (ASIC).
The MBR program will help business interact with government by providing a single, trusted, reliable and easily accessible business register for Australia.
As part of the MBR program, a new Director ID has been introduced. Australia is one of a handful of jurisdictions to introduce a director identification number.
Australia - Modernising Business Registers - Who is involved?
Foster Moore and other private sector parties will work with the Treasury, ATO, ASIC, Department of Industry Innovation and Science and Digital Transformation Agency as the partner agencies for the MBR program. The ATO is the lead agency and our client.
Current business registers administered by ASIC, and the ABR will be moved over time to a modern registry platform, to be administered by the newly established Australian Business Registry Services (ABRS) at the Australian Taxation Office.
The current registers are built on a number of different legacy systems, imposing inefficiencies and unnecessary cost burdens on registrants in meeting their obligations and on users in finding information.
The MBR program will create a single, reliable, easily accessible source of trusted business data that will:
be simpler for businesses and other members of the public to use.
be more efficient for government agencies to operate.
increase the economic and social value of the data.
Foster Moore personnel are delighted to be working on such a visionary program. We have established an office in beautiful Brisbane and look forward to growing our business in Australia.
Ministry of Finance, Registrar of Companies (ROC), Bermuda
Foster Moore has been contracted by the Ministry of Finance, Registrar of Companies (ROC), Bermuda for the supply of an online Companies' Register. The project will see the delivery of sixteen registers ranging from the various forms of Companies and Partnerships administered by the Registrar of Companies to services for individual bankruptcy.
Foster Moore will deliver the project across two phases. One covering the Business Register entities and the second covering the Occupational Register entities (i.e. Real Estate Brokers and Agents).
The Registrar of Companies for Bermuda launched the new Economic Substance Register on 1 May 2020.
The register is required under the Economic Substance Amendment Act 2019. The legislation requires a "relevant entity" conducting "relevant activity" to report and maintain economic substance.
This means that non-resident entities carrying on a relevant activity will not be subject to Bermuda economic substance requirements. They are obliged, however, to provide to the Registrar of Companies for each relevant financial period the name of the jurisdiction in which it claims to be resident for tax purposes together with sufficient evidence to support that tax residence. This information is held on the Economic Substance Register.
The solution is based on an implementation of Foster Moore's Catalyst Registry Manager platform.
Foster Moore are delighted to be working with the Registrar of Companies for Bermuda and look forward to delivering our world class registry application.
Companies and Intellectual Property Authority (CIPA)
Foster Moore delivered its latest online registry platform, Verne®, to the Companies and Intellectual Property Authority in June 2019. Verne® introduces the very latest registry technology to CIPA's Business Community and boasts nearly 100,000 new users in the first 12 months. This project was successfully delivered in conjunction with the New Zealand Ministry of Foreign Affairs and Trade, the New Zealand Companies Office, CIPA and Foster Moore -The Registry People ®
*Image courtesy of Joachim Huber.
Ministry of Commerce (MOC)
Launched in January 2016 the Cambodian Ministry of Commerce delivered an online business registry for companies, sole proprietorships and partnerships. The project took seven months to deliver. A range of enhancements and additional activity is planned to assist the Cambodian business community.
Canadian Securities Administration
Foster Moore are delighted to be working with CGI (www.cgi.com) on an initiative to replace the Canadian Securities Administrator's (CSA's) national systems. The work will result in the Canadian securities regulatory system being equipped with a modern, digital solution that will integrate workflows, support data quality and ensure faster information sharing across all of Canada's provincial and territorial securities commissions.
CGI will design, build and implement an integrated solution to replace existing systems (including SEDAR, SEDI, Cease-Trade Order Database, National Registration Database, National Registration Search and Disciplined List). The new solution will be based on Foster Moore's Catalyst product, a modern and secure software product which will deliver secure transactions, improve ease and speed of use, respond to changes across the Canadian regulatory environment and evolve to meet requirements for future data management and advanced data analytics.
This renewed system is planned to be delivered in stages over the next 3 years by a joint CSA and CGI transition team.
The project is a significant commitment for Foster Moore and will be managed from our Toronto office with support from our global teams.
Financial Supervisory Commission (FSC)
The Financial Supervisory Commission (FSC) came into existence in the Cook Islands on 1 July 2003, replacing the former Off-shore Financial Services Commission. The Financial Intelligence Unit (FIU) merged with the FSC on 1 July 2012.
It is an independent body responsible for the supervision of regulated financial entities and financial services in the Cook Islands. The FSC comprises the Board, the Commissioner, the Head of the FIU and its staff, supervisory staff and the Registrar of International Companies and International Trusts. It is the licensing authority for all financial institutions being banks, insurers (including captives), money-changing and remittance businesses and trustee companies.
The FSC operates the Registry of International & Foreign Companies, Limited Liability Companies, International Trusts, International Partnerships and Foundations.
Foster Moore delivered the Financial Supervisory Commission with their Catalyst registry solution in 2012.
Ministry of Commerce, Tourism and Labour (MCTL)
Launched in December 2014 after an 8 month project the Business Registries Office of Tonga delivers an online registry for companies, business names and business licences. The on-line registry replaced a paper-based one.
Ministry of Trade and Industry Cooperatives and Marketing
Lesotho went live with their new Catalyst-based companies registry in December 2014. The project was a collaboration between the New Zealand Ministry of Business, Innovation, and Employment, the New Zealand Ministry of Foreign Affairs and Foster Moore International Limited.
The introduction of the online registry greatly enhances the work of the One Stop Business Facilitation Centre, an initiative of the government of Lesotho to deliver fast and efficient services to businesses.
Using our Catalyst Adoption Methodology, the project took 9 months to deliver.
*Image courtesy of OCER Africa.
Labuan Financial Services Authority (LFSA)
Foster Moore delivered a Catalyst registry for the LFSA that includes registers for 6 different types of company, 2 foundation types, 7 types of trusts along with registers of auditors and one for liquidators. The project was undertaken in a nine-month timeframe and went live in June 2014.
Ministry of Business, Innovation and Employment (MBIE)
Foster Moore provide many registry and other technology solutions to MBIE. MBIE plays a central role in shaping and delivering a strong New Zealand economy, it develops and delivers policy, services, advice and regulation to support business growth and the prosperity and wellbeing of all New Zealanders.
Foster Moore provides the software solution that powers the New Zealand Companies Office. The New Zealand Companies Office has a global reputation for innovative delivery of modern registry services. The registers of companies, limited partnerships, charitable trusts, incorporated societies, motor vehicle traders, financial service providers and personal property securities are all maintained and delivered using Foster Moore technology.
The Insolvency and Trustee Service of New Zealand also utilises a solution developed by Foster Moore.
www.companies.govt.nz
www.ppsr.govt.nz
www.insolvency.govt.nz
Ministry of Government and Consumer Services
The Ontario Business Registry provides business owners and not-for-profit operators with direct access to government services, available online 24 hours a day, 365 days a year. Registrations or filings that were previously submitted by mail or fax, taking four to six weeks to complete, are now able to be done instantly through the online registry.
Annual returns can also be completed in the registry, which means corporations can keep all their important filings in one place. Additionally, the new Ontario Business Registry is integrated with the Canada Revenue Agency, enabling the identification of a business or not-for-profit corporation by a single business number, further streamlining administrative processes.
"Ontario's previous three-decade old business registry system was cumbersome and complex, demanding significant time and energy from business owners and not-for-profit operators. Our government's new business registry will help ensure they are equipped to meet the needs of our modern economy and rapidly expanding digital world," said Minister Romano. "By providing quick and easy access to critical services online, we're leveraging our advanced digital capabilities to remove unnecessary hurdles and make it easier for Ontarians to operate in our province."
The new registry supports businesses and not-for-profit corporations at every stage of their lifecycle with quick and easy access to over 90 transactions online.
Foster Moore provided the Province of Ontario with our Catalyst™ registry platform for this project.
Foster Moore delivered the business registry refresh along with the delivery of an online occupational register system that meets the requirements of the Security Guards and Private Investigators project (PSIS). The PSIS project has delivered online registry for an Occupational Register (Security Guards and Private Investigators).
Investment Promotions Authority
The delivery of the electronic registry for PNG occurred in November 2015 after a 15 month project. The registry is a complex one and delivers registers for companies, business names, business groups, associations and foreign enterprises.
The Puerto Rico Department of State administration Corporation, Trademarks and UCC filings.
Foster Moore provide our Catalyst solution for the UCC system and the SystemWORKS Corporation and Trademark applications.
Ministry of Commerce, Industry and Labour (MCIL)
Samoa recently refreshed their Business Registry. The original Catalyst powered Companies Register was launched in 2012. The refreshed site went live in February 2017 and included an integrated Personal Property Security Register (PPSR). The new Personal Property Security Act was passed in 2013 with support from the ADB. Samoa are the first jurisdiction in the Pacific to operate an integrated companies and secured transactions version of Catalyst.
Ministry of Commerce, Industries, Labour and Immigration (MCILI)
In conjunction with the Asian Development Bank (ADB) The Solomon Islands launched with their first Catalyst register for Companies in February 2013. An upgrade to the latest version of Catalyst and the implementation of further business registers for Business Names and Foreign Investment went live in November 2016.
Office of the Lieutenant Governor
Foster Moore are delivering the new Business Entity, Uniform Commercial Code Liens and Trademarks Registries for the Corporations and Trademarks Division of the Office of Lieutenant Governor, Government of the United States Virgin Islands.
The Office of the Lieutenant Governor of the Virgin Islands sought an online system that accommodates Business Entities, Trademarks and Uniform Commercial Code filings. The scope of work document, entitled the computerization of corporations and trademarks divisions, was put to bid in August 2015. The project includes data migration from an SOSKB application and scanning and indexing conversion of all active hard copy records (business entity, trademarks and UCC) to a new database that allows for customer accessibility.
USVI Lieutenant Governor, Osbert Potter launched the first phase of the Catalyst Platform for the registration of business entities in the territory, at a press conference held in St. Thomas on Friday 31 August 2018.
Foster Moore's Catalyst™ platform has been launched, and was described by Mr. Potter as a sophisticated program developed by a company that is known globally as "the registry people".
Foster Moore has been working on the system since 2016, and although Hurricanes Irma and Maria caused delays, "we are able to offer full functionality to all Corporations and LLCs to e-file all corporate documents as of today, Friday August 31, 2018," Mr. Potter said.
Two more phases of the online portal will go live later this year and early 2019, according to Mr. Potter.
"For all entity types that are not able to e-file as yet, (i.e. trade names, non-profits, trade and labor corporations, partnerships [LP, LLP, LLLP], and exempt LLCs), they must continue to submit paper documents to the Division," Mr. Potter said. However, by mid-November 2018, all entity types will be able to file electronically using the Catalyst system," said the lieutenant governor.
Vanuatu Financial Services Commission (VFSC)
An Asian Development Bank (ADB) assisted project to implement an online registry system to replace an existing ageing electronic system. The new online register of companies, business names and charitable associations play a critical role for VFSC in delivering the objectives of faster, cheaper and more accurate business registration in Vanuatu. Vanuatu is recognized internationally as a leading reformer where it is easy to do business, where the investment climate is conducive to foreign direct investment and where a top performing business registry centre efficiently delivers an integrated suite of business services. The project was undertaken in 10 months.