Warning - Mangrove Corporate Services Limited (2019-04-16)

Summary

This is a public warning notice issued by the Bermuda Monetary Authority (BMA) alerting the public that Mangrove Corporate Services Limited is not licensed to conduct Corporate Service Business in Bermuda. The notice was triggered by a legal notice the company published in The Royal Gazette stating it was acting on behalf of an applicant to form a new company.

• Finding: Mangrove Corporate Services Limited has not been granted a licence to conduct Corporate Service Business and does not qualify for any exemption from the licence requirement.
• Legal basis: Conducting Corporate Service Business without a licence is an offence under Section 8 of the Corporate Service Provider Act 2012.

This notice is informational and does not itself impose new compliance requirements; it serves to warn the public and market participants against dealing with this unlicensed entity for corporate service business.

Applies to

corporate service providers