Agencies Achievements & Ongoing Initiatives
Annex H
Registrar General’s Department
[522]
2016/2017
DRAFT
ESTIMATES
OF REVENUE &
EXPENDITURE
The RGD has two main locations; its head office which is housed at Shirley House, #50 Shirley Street in
Nassau and the Freeport office which is located in the Fidelity Building in Grand Bahama. It is imperative in
today’s world that citizens should be able to obtain government services in their communities. We are
currently revisiting the Family Islands to reestablish the programme that enables certified copies of documents
to be issued by Administrators in the Family Islands.
The RGD has embarked on a number of public private sector initiatives aimed at improving its services
and increasing revenue. The initiatives on stream are as follows:1)
Expansion of the Companies eService Initiative:a)
The Companies eService initiative was launched in January, 2016. This enables
authorized persons to incorporate companies and pay annual fees online. As of
April 14, 2016 the YTD revenue generated by the Companies Online system is
approximately $11,000,000.00
b)
Phase 1b, which allows for multiple names to be reserved, ordering of multiple
documents, payment of stamp
duty, regular company/non agent payment opportunities and the uploading of
Officer and Directors is partially completed.
Phase 1c will provide for the integration of NIB with the online system to ensure
that the systems are properly coordinated so that there is no need for a
continuous dumping of information. Additionally, continuations will also be
addressed under this remit.
Phase 2 – subject to be completed by the end of the year, will allow for other Company services
such as Dissolutions and Certificate of Good Standings. Registered Agents to
order amended documents and allow for regular companies to change
ownership.
Since the launch of this initiative there has been widespread buy-in by the Financial Services Industry
which is evident from the revenue generated to date.
Total revenue generated by the Companies section for the fiscal year July 1, 2015 to March 31, 2016, is
$29,031,161.00. This is $7,677,387.00 more than what was generated during the fiscal year 2014/15.
This initiative demonstrates how Public/Private can work together successfully. Thereby ensuring that
the product we deliver is the one the industry needs and wants.
Deeds and Documents
This Section of the RGD is also part of the eService initiative proposed for the online system for the
Department. This Public Private Sector committee has commenced a process whereby deeds and documents
will be scanned and recorded online. Their mandate in collaboration with the Ministry of Finance is to design a
process whereby deeds and documents may be recorded, scanned and retrieved online AND persons may VAT
stamp, stamp duty stamp and commence the recording process all from the same location.
The objective is to eliminate delays and assure turnaround within a reasonable time, not more than 7
days i.e. within 7 days it should be possible to search, view and obtain certified copies online.