April 9, 2020

Cayman Islands business portal ready for local businesses

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Local businesses have access to an efficient online tool for doing business with the .

The Cayman Business Portal (), launched at last October’s , allows small businesses the flexibility of transacting business with the Registry from the comfort of their home or office, at their convenience – 24.7.365.

In line with existing online services available to financial services clients, local businesses also have the benefit of being able to access their company information submitted to the Registry via the system.

CBP is the latest online initiative of the Registry and was released in phases.  The first phase, which was released in mid-October 2017, featured:

  • Issuing of good standing certificates
  • Filing of directors and officers
  • Filing of beneficial ownership information (for ordinary resident companies that have not engaged a corporate service provider)
  • Registration of non-profit organisations

 

Phase 2, which was released in December 2017, featured:

  • Payment of annual fees and filing of returns

Eventually, all records held by the Registry for local companies will be available using the portal.  All documents requested online, through the CBP portal, will be delivered to an individual secure folder for the business owner.  This allows the authorized business owner access to their documents at their convenience.

 

To ensure security of data the following features have been included:

  • CBP is housed in a secure data centre
  • All communications and transactions are encrypted
  • Strong password rules are used
  • Prospective users will be subjected to a due diligence process to ensure right of access.

 

Interested parties will be able to verify the validity of documents produced from the system at a specified website by entering the authentication code that will be included on the face of each document.

No new fees are being introduced at this time for persons accessing the CBP. Fees currently in place with the Registry for documents provided are payable.  In addition, and in line with other services provided by the Registry to its financial services clients, there is a small transaction fee of $1 for the application and provision of documents online.

The public can now register as a user with CBP by visiting the website.

The CBP will allow the Registry to process applications more efficiently and expeditiously.

 

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