The Palau Financial Services Regulation hosted a series of meetings facilitated by Asian Development Bank (ADB) advisors on the use of the Secured Transactions Registry (STR), which was implemented in January 2013. ADB consultants were on-island during the week of April 14th through the 18th conducting presentations on the STR and introducing a new and more efficient system of registering corporations. It has been a long standing recommendation for Palau to improve its Corporate Registry, and this new online filing system is a recommended way to replace the current process. Legislation and regulation governing corporate registration will have to be passed prior to implementation of new corporate registration procedures. The timeframe to implement a new registry of corporations is estimated to take at least eighteen months.

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