Corporate service providers (CSPs) are the only individuals and companies which have authority from the Financial Services Commission to incorporate new companies. They play a key role in managing or administering Business Companies on behalf of their owners. For example, the owners of a Business Company may wish to change certain aspects of the company and will ask their CSP to carry out this act or administration on their behalf.
CSPs – also known as ‘registered agents’, ‘trust companies’, ‘company service providers’, ‘company incorporation providers’ and ‘trust or company service providers’ – have a legal obligation to uphold the jurisdiction’s regulations relating to anti-money laundering, transparency, and other governance. They are also responsible for capturing accurate information relating to beneficial ownership of the Business Company and making sure it is accurate and up to date so that it can be accessed by competent authorities if and when required.
The services provided by CSPs typically include corporate services, including the incorporation and administration of Business Companies; directorships and related services to ensure good governance of Business Companies; fiduciary services, including the establishment, administration, and management of trusts; fund services, including the establishment, administration and management of funds; ship and aircraft services, including the registration of vessels