From operations to litigation, corporate counsels have a lot of ground to cover. And, if the company has offices in more than one country, business needs will differ across jurisdictions.
Documents play an essential role in protecting the interests of the business over the course of its lifetime; no matter the company size or type, there will be the requirement to create, file and update them in each jurisdiction.
As most companies are different, there is no "one size fits all" solution. Corporate documents across jurisdictions may have different names, content and formats, even if they have same or similar end purpose. For example in Argentina, a Certificate of Good Standing (Certificado de Vigencia) confirms if a legal entity is correctly registered locally, while the Certificate of Good Standing and Full Compliance (Certificado de Vigencia y Pleno Cumplimiento) confirms a legal entity is in force, regular and compliant.
A 'Certificate of Incorporation (or Continuation)' provided by the British Virgin Islands Companies Registry will confirm if a legal entity is correctly registered in that country, but so will the Certificate of Good Standing (CGS). The difference is the CGS will also confirm whether the entity is currently up to date with its fees and penalties and if it has ever been placed in liquidation, arrangement, insolvency or administrative proceedings. In Canada, a 'Corporation Profile' document may provide the company name, registered address and listed names of the officers and directors of the company. Similar information may be found in the 'Authentication' document provided by the Chamber of Commerce in the United States.
Corporate documents are important for agreement's validity, internal reporting, annual legal compliance processes, mergers, acquisitions, annual filings, just to quote a few. When starting a business with a company in another country, the validity of the agreement between the two will be linked to the capacity of the parties, i.e. both being in good standing.
You can avoid unnecessary hassle by making sure to understand your business needs and planning to get all your corporate documentation in an effective and timely manner.
Whether it's part of researching an acquisition, for refinancing, or just for housekeeping, TMF Quickdocs takes away the pain of searching for and acquiring official documentation. We retrieve the documents you need form public government registries in over 80 countries and deliver them anywhere in the world. Get the right paperwork emailed direct to your inbox quickly, with the hard copies to follow securely in the post.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
