Whether it is due diligence for an acquisition, refinancing or
good housekeeping; retrieving corporate documents can be time
consuming if not managed effectively.
Corporate documents are not just a formality, companies need to
keep accurate records of all their entities; this can be to prove
existence in a foreign country, for internal reporting, annual
legal compliance processes and so forth. Meeting compliance
requirements is essential for good corporate governance.
This may sound straightforward, but confusion can ensue with
documents across jurisdictions; with different names but similar
purposes, formats, and significantly varied lengths of time for
retrieval. For instance, particularly with the latter, retrieving a
Certificate of Good Standing may take up to 21
days in Argentina; eight days in Labuan, up to six days in Malaysia
or Sweden, and only three days in the United States or Jersey.
Obtaining Articles of Association takes
approximately 30 days in Israel, 7-11 days in Nicaragua and only
3-5 days in Hong Kong. Another example is a Certificate of
Incorporation; this document takes up to 30 days to
retrieve in Israel, 12 days in India, and only three days in the
British Virgin Islands.
Other documents that may take more than a week to obtain
Copies of the Company's
file* from Argentina (up to 21 days)
Certification of no
Derogatory Information* from the Philippines (11 days),
Indebtedness* from the Czech Republic (up to 33
No two countries are alike, and gathering records from multiple
jurisdictions can be a lengthy administrative and resource-heavy
TMF QuickDocs simplifies the process for
obtaining company documents from public registries via a single,
easy-to-use online portal. TMF QuickDocs provides a user-friendly
documents menu that clearly explains and describes each type of
document. Available documents include: Certificate of Good
Standing, Certificate of Formation, Articles of Incorporation,
Certificate of Compliance, and local equivalents in more than 80
With a view to promote corporate transparency and prevent misuse of corporate vehicles for illicit purposes such as corruption, tax evasion, money laundering, the Financial Action Task Force ("FATF")...
An assignment of rights under a contract is normally restricted to the benefit of the contract. Where a party wishes to transfer both the benefit and burden of the contract this generally needs to be done by way of a novation.
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