News

 Issue No. 25, October 2016

 

 

Welcome to this edition of the Liberian Corporate Registry’s quarterly newsletter. 

 

 

We encourage you to contact us with any of your Corporate requests and questions. 

 

 

 

ADDRESS CHANGE CONFLICT 

 

 

A billing address is the only link and the only contact between the Registry and the corporation. Therefore, The LISCR Trust Company can only accept instructions from that address and not from any other party including the directors or shareholders of the corporation. The LISCR Trust Company shall suspend all services to the corporation if there is a dispute between the corporation and the billing address and conflicting information or requests for an address change are received for that matter. The services can be restored upon receipt of a written agreement resolving the dispute between the two parties including a valid and current billing address of that corporation. The agreement shall be submitted to The LISCR Trust Company in form of a court order or an agreement signed by both parties in dispute, to the satisfaction of the Registered Agent.

 

 

LEGAL DEPARTMENT “ROAD SHOWS” 

 

 

During the last couple of weeks, our legal department has been undertaking successful “road shows” in some of the most influential capitals in the industry. The tour has set sail in Piraeus and Athens, and has continued its course throughout London, with plans for additional destinations in the near future.

 

 

Hilary Spilkin, Managing Director of the Liberian Corporate Registry, and Hara Gisholt, Vice President of Business & Legal Affairs, have had an impressive turn-out for their seminars, and they hope to deliver their round table presentations in several additional cities in the upcoming months. Ms. Spilkin says, “By providing continued education to our customers and solicitor’s trainees, we hope to bring the Registry and its bene ts closer to our audience and broaden the horizon of their understanding of the services we provide.” 

 

 

The recent seminars have provided attendees with an overview of both the Ship and Corproate Registries. The Ship Registry presentation highlights the organizational structure of the Registry, giving insight on the Liberian Maritime Law and outlining the prerequisites for mortgages and closings; whereas the presentation on the Corporate Registry introduces the various types of business entities, the difference between the resident and non-resident Registry, as well as the formation process for Foreign Maritime Entities (FMEs) and other types of entities.

 

 

If you or your company would like to attend one of the Registry’s upcoming seminars or would like to invite our legal department to a city near you, please contact us at corporate@liscr.com.

 

 

LISCR MAKES KEY APPOINTMENTS 

 

 

The Liberian Registry has announced strategic new appointments in a number of the key areas within the global network of of ces operated by its US-based manager, the Liberian International Ship & Corporate Registry (LISCR).

 

 

Gerard Kenny has been appointed Technical Manager of Liberian Registry’s London of ce, where he will primarily serve as a technical advisor to the Liberian delegations to the IMO. Rafael Cigarruista has been appointed Manager of the Registry’s regional of ce in Panama which, in common with other flags, Liberia established to provide direct services to ships transiting the Panama Canal.

 

 

Pinar Saglam has been appointed Corporate & Registrations Co-ordinator for the Liberian Registry’s of ce in Istanbul. And in the US, Josiah Toepfer has been appointed Manager, Vessel & Company Compliance in the Liberian Registry’s main headquarters of ce, located in Virginia. Also in the US, Kevin Smith has been appointed Manager for Vessel Compliance in the Liberian Registry’s Houston of ce.

 

 

LISCR CEO Scott Bergeron says, “As the Liberian Registry grows from strength to strength, it is essential for us to ensure that we are able to maintain our ability to provide a high level of service regardless of fleet size. e real assets of the Registry are its people. at is why we are committed to enlisting the services of skilfully qualified personnel, who can bring added value to the Registry’s clients, providing expertise and advice when and where it is needed.” 

 

 

UPDATE TO THE ADDRESS OF RECORD NOTICE 

 

 

In June 2016, The LISCR Trust Company has updated its Notice to the Address of Record (AOR). The following are the most important topics that have been accentuated to cover the responsibilities of the AOR:

• The AOR is required to use reasonable diligence to verify and validate the client’s identity, probity, and integrity, as well as the authority of the persons acting on behalf of the corporation. The “know your client” information shall be kept internally by the AOR.
• The AOR is responsible only for informing the client/the corporation on requirements to maintain the books, including accounting records, minutes, and records of shareholders, directors and officers, as stated in Section 8.1. of the Liberian Business Corporation Act. Keeping the records is a sole responsibility of the corporation itself.
• It is the duty of the AOR to forward invoices, as well notices received by failure to pay for invoices, to the responsible party in timely manner. However, the AOR is not responsible for a payment of annual invoices. Payments are accepted from either the corporation itself or the AOR.
In case you would like a more detailed list of all requirements, please e-mail us at corporate@liscr.com in this regard and we will gladly provide you with that information.

 

 

 

FOLLOW OUR BLOG 

 

 

One of the features on our website, LiberianCorporations.com, is an active news blog. Blog topics include Registry news, events and informational articles.

 

 

You can read the latest blogs entries here. You can subscribe to the blog’s news feed here.

 

 

You can also connect with us via the social media links in the sidebar.

 

 

LOOKING FOR A ‘NEW’ JURISDICTION? BRING YOUR NEXT INCORPORATION REQUEST TO US! 

 

 

Liberia is one of the oldest offshore jurisdictions. However, due to economic and political challenges of the 1990’s, Liberia’s status as a preferred jurisdiction fell to the wayside. Fortunately, Liberia has overcome many of the economic and political problems which have blighted its past. The increasing international recognition of Liberia’s dramatic turnaround is evident – most significantly by the December 2011 presentation of the Nobel Peace Prize Award to the re- election of Liberian President Ellen Johnson Sirleaf.

 

 

Recent attacks on the high pro le offshore financial centers by the OECD and certain leaders of the G20 have driven professional service providers to once again seek out new jurisdictions. Many have rediscovered Liberia, a ‘new’ jurisdiction, with over a half century track record of providing professional services to the world’s financial and investment communities.

 

 

Liberian corporations are at the core of well-established private and public investments in all major financial sectors resulting in a significant percentage of global business activity being conducted through Liberian entities. Liberia is also home to the world’s second-largest ship registry, with a current fleet of over 4,000 vessels of around 146 million gross tons.

 

 

For all of your future corporate needs, choose LIBERIA — you won’t be disappointed.

 

 

See also our supporting article “Why Liberia Now”.