The Bermuda Government has recently amended its company law affecting all companies both local and exempted.
The amended Companies Act 1981 (the Companies Act) now requires a Register of Directors in respect of Bermuda registered companies to be kept by the Registrar of Companies (Registrar). Every company registered in Bermuda will be required to file at the Registrar a list of its directors and their addresses.
While the amendment to the Companies Act came into effect on 1 April 2016, the deadline for the initial filing of the list of directors is 31 December 2016. The Registrar is in the process of preparing an electronic filing platform to provide greater efficiency in filing and viewing the newly required list of directors. More information regarding the associated filing fees and specific filing details, including when they will start to accept filings, will be announced in due course.
As a provider of services Marbury maintains the Register of Directors and Officers for all of its clients’ companies and therefore already has on file the director information that will be required for submission to the Registrar prior to year-end 2016. We will arrange the new filing for all our clients as part of our corporate secretarial duties. Likewise, Marbury will continue to keep the Register of Directors and Officers at the registered office as was already required by the Companies Act.
We do not expect that any action will be required by the client company representatives but your client manager will contact you to confirm the filing details and advise should any additional information be required in order to make this filing on the Bermuda company’s behalf.
For more information on any aspect of this briefing please contact any member of the Marbury team.