Revenue

1. Statutory Revenue Collection & Fee Processing

1. Incorporation & Registration Fees: Processing and receipting statutory fees for new company incorporations, partnerships, LLC formations, name reservations, and permit applications.
2. Annual Government Fees (AGF): Administering the assessment and collection of annual government and regulatory fees due from registered local, exempted, and permit entities.
3. Service & Extract Fees: Collecting fees for registry services such as certificates of good standing, certified copies, search extracts, charge registrations, and document filings.
4. Payment Administration: Managing payment methods across the online registry platform (Catalyst), including credit/debit card transactions, pre-funded deposit accounts, and approved public payment methods.

2. Financial Governance, Reconciliation & Reporting

1. Accounting & Reconciliation: Reconciling daily registry transactions, online portal receipts, and bank settlements against registry accounts and general ledger entries.
2. Ministry of Finance Reporting: Producing periodic financial statements, revenue summaries, and audit reports for the Ministry of Finance and the Accountant General.
3. Refund Management: Reviewing, approving, and executing statutory refunds for overpayments, rejected filings, or duplicate transactions in accordance with financial control policies.

3. Financial Compliance & Good Standing Clearances

1. Fee Payment Tracking: Monitoring entity compliance with mandatory fee deadlines (e.g., tracking annual fee status and flagging overdue accounts).
2. Late Filing & Penalty Assessment: Administering late filing penalties, statutory interest, and fines accrued from overdue annual returns or statutory filings.
3. Dissolution & Strike-Off Clearances: Consulting on and granting financial clearances for entities seeking Voluntary Striking Off or dissolution to ensure all outstanding taxes, fees, and statutory debts owed to the Government of Bermuda are fully satisfied.

4. Account & CSP Balance Management

1. Deposit Accounts: Managing deposit and drawdown accounts utilized by Corporate Service Providers (CSPs), law firms, and high-volume registry users.
2. Account Support & Query Resolution: Addressing billing disputes, transaction reconciliation requests, and receipt verification for industry stakeholders.