SHAREHOLDER/UBO REGISTRATION
What is registered?
This notification is to inform the public that starting from March 1st, 2024, the Chamber of Commerce & Industry (COCI) will commence the registration process of Shareholder- and Ultimate Beneficiary Owner information of all legal entities.
Why is this registered?
The registration requirement will be applicable to all legal entities as applicable based on legal form.
In the Chamber Registry decree (Handelsregister Besluit)
https://lokaleregelgeving.overheid.nl/143983/1, articles 16-21 the registration requirements per legal form are outlined, this further to the stipulations in article 109 of the second Book of the Civil Code for St. Maarten.
How is it registered?
All new entities incorporated through notaries on St. Maarten will register the shareholder and ultimate beneficiary information (UBO) at the time of first registration of the entity with the Chamber of Commerce. The registration is done via COCI online portal and through the use of specific forms. The I-F form is used for the first registration of the shareholder and UBO information while the I-A form is used for all updates to the registration. Once registered the I-F form will apply when a new shareholder (not previously registered) is introduced.
The costs associated are the same costs associated with the deposit or removal of officers, or changes to the registry.
When will the registration start?
COCI will commence this registration for all new entities on March 1st, 2024, and will open the registration for existing registered legal entities on May 3rd 2024. All entities seeking services from COCI will automatically be prompted to update the registry and this process will continue until the pertinent information on all legal entities is processed.
Who can register and access this information?
Notaries at the time of incorporation, shareholders and UBO’s, or their representing attorneys are permitted to register the shareholding and UBO information. This registry is a closed registry to which access is granted to the shareholder registered or the UBO and to the authorities permitted by law to obtain such information to combat terrorism financing and money laundering activities.
For more information, please contact us at chamberbusiness@chamberofcommerce.sx , call +1(721)542-3590, or visit the Chamber at CA Cannegieter Street 11, Philipsburg, St. Maarten.
