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 corporat@liscr.com in this regard and we will gladly provide you with that information.