The following are requirements for a non-Liberian legal entity registered in Liberia as a Foreign Maritime Entity, (a “FME”) in order to maintain its qualification as a vessel-owning entity:
• The FME must be kept in goodstanding in Liberia. Furthermore, the non-Liberian entity must remain in goodstanding in its own jurisdiction. Satisfying this requirement to remain in goodstanding in both jurisdictions is particularly important where there is a mortgage recorded in respect of the vessel owned by the FME.
• If, at any time after the registration, any part of the information stated in the filed application is changed, the FME is obligated to file an amendment to the application with the Liberian Registry.
• It is a duty of the Address of Record/billing address of the FME to inform The LISCR Trust Company if there is any change to that address. (see Address of Record)