Australia’s Modernising Business Registers Program
Foster MooreAugust 12, 2020
Foster Moore are pleased to announce that we are working with the Australian Taxation Office on their Modernising Business Registers (MBR) program.
Foster Moore will provide our registry aware product, Verne™, as a core component of the MBR platform.
The MBR program aims to improve the administration of business registers and unify the Australian Business Register (ABR) and the 31 business registers held with the Australian Securities & Investment Commission (ASIC).
The MBR program will help business interact with government by providing a single, trusted, reliable and easily accessible business register.
As part of the MBR program, a new Director ID will also be created.
We have established a presence in Australia (in beautiful Brisbane) and look forward to working with the ATO and their agency and private…
Foster Moore® Acquired By Teranet Inc.
Foster MooreMay 6, 2020
We are excited to announce Foster Moore® has been acquired by Teranet, a Toronto based international leader in electronic land registration.
Six years ago we entered into a partial ownership relationship with Teranet – Canada’s leader in statutory registry services with deep expertise in land and commercial registries, to better position both companies to share expertise and operational approaches. Over time, building on common values and two solid market brands, our relationship has manifest itself into a number of joint initiatives and into a clear view of potential growth opportunities together in Canada and across the world. As a result, effective 1 May 2020, Foster Moore International will become a 100% owned Teranet group company.
The acquisition brings an investor with mutual growth objectives, strong operating capabilities in the online government, corporate…
Bermuda Economic Substance Declaration Portal Goes Live
Foster MooreMay 5, 2020
The Registrar of Companies for Bermuda launched the new Economic Substance Declaration (ESD) Portal on 1 May 2020. The declaration form needed to comply with Bermuda’s economic substance rules can only be filed via the ESD Portal, which is available at www.registrarofcompanies.gov.bm.
The ESD is required under the Economic Substance Amendment Act 2019. The legislation requires a “relevant entity” conducting “relevant activity” to report and maintain economic substance.
Under the legislation non-resident entities carrying on a relevant activity will not be subject to Bermuda economic substance requirements. They are obliged, however, to provide to the Registrar of Companies for each relevant financial period the name of the jurisdiction in which it claims to be resident for tax purposes together with sufficient evidence to support that tax residence. This information is lodged on the Economic Substance portal.
Bermuda as a…
