ST JOHN’S, Antigua – On Monday Antigua & Barbuda became the first Caribbean Single Market Economy (CSME) nation to launch the Caricom Online Company Registration System.
The junior minister of legal affairs, Senator Joanne Massiah, said this will make it easier for persons and companies within the region to set up business in the country.
“This project represents a significant step in the CSME arrangement and is an example of the single market phase of the CSME. It is intended to support a key component of the CSME … being the right of establishment through the networking of all national registries and database of companies and other legal entities,” Massiah said.
This project when completed will enable registrars of companies to access information on companies and other legal entities exercising the right of establishment in the CSME. The project will also provide web interface to allow public access to the online system.
Antigua & Barbuda and St Kitts & Nevis were selected for the pilot phase of the US $100,000 project. The online system is expected to be completed by all 14 Caricom countries by year end.
Caricom Secretary General Ambassador Irwin LaRocque, praised the nation’s role in leading the process that forms part of the CSME integration process. He said the project is vital in bringing CSME into fruition.
“This project is one of the significant concrete initiatives under the programme of the Caricom Secretariat to establish the CSME,” LaRocque said.
“The project is expected to contribute to the operation of the CSME through building of a secure IT infrastructure in member states and at the community level, to enhance the capacity and to enable registrars of companies to be networked in a regional repository of data and information on companies and other legal entities,” LaRocque added.
“The project is designed to create an electronic capability to facilitate high speed online registration of companies within the CSME,” he added.
Massiah, Registrar of Companies Charlesworth Tabor, and LaRocque delivered remarks at the launch.