**Hon. Allyson Maynard-Gibson, M.P.
Minister of Financial Services and Investments**

**Registered Agent Training**

Minister Maynard-Gibson presented opening remarks this morning at the start of a four-day programme designed to train registered agents as Phase II of the Agent Internet Module Online System is implemented.

She told participating agents that it is critical they stay abreast of developments and provide professional, quality service – particularly in light of the extremely competitive global market.

**Phase II**

Phase II of the system includes:

. The ability to incorporate online IBCs and Companies Incorporated under the Companies Act (“Bahamian Companies”)

. To reserve names for both types of companies

. The ability to file returns for both types of companies

. The ability to receive certificates for both types of companies

It also includes the technical environment to implement Phase III – automation of the civil registry (marriages, births, deaths, adoptions, deeds/ documents.)

The Minister noted that the online process has greatly impacted the turnaround time for corporate transactions and that the Registrar General’s Department will continue to implement innovative plans and seek new ideas as it strives for excellence while executing its mandate to *”Deliver Superior Customer Service”*. She said, *”We recognise that there is strong competition between International Financial Centres. We want to provide the best possible platform to achieve our objectives.”* In part, these were described as:

(1) Ensuring the fastest possible turn around time while delivering the quality service that one would expect in a blue chip financial centre

(2) Enabling incorporations and reports, filings etc. to be made and generated online and for payments to be made online.

(3) Making it easy for Bahamians anywhere in The Bahamas to conduct business with the Department without having to come to Nassau

The Department launched Phase I of the online system in January last year – allowing registered agents to incorporate international business companies and take advantage of a range of other corporate services electronically, in a secure, reliable environment.

During this coming budget year the Government intends to focus attention on the Freeport office of the Registrar General’s Department, in an effort to ensure that the efficiencies introduced in the Nassau office are replicated there.