Amendments to the Trade and Business Licensing Law come into effect Monday (18 June).
The law changes aim to simplify the application process for a license, according to Government Information Services.
Among the changes, enabling the Trade and Business Licensing Board to access company documents filed with other government entities. and exemptions with who has to submit a police clearance record.
Full list of 2018 amendments :
- Cover letter no longer required
- Business plan no longer required
- Strata approval no longer required
- Character reference no longer required
- Bank reference and utility bill no longer required for Caymanians
- Replace ‘lease agreement’ with ‘letter of intent’ or ‘lease’ if available
- Approvals from Department of Environmental Health and Department of Planning not required for the Trade and Business License application process (business owners will still need it before conducting business to be compliant with the law)
- Proof of pension and health insurance not required for the Trade and Business License application process (business owners will still need it before conducing business to be compliant with the law)
- The Board has the power, with consent from the applicant, to directly receive corporate documents from relevant government agencies or public authorities
- Caymanians, Permanent Residents and holders of a Permanent Residency and Employment Rights Certificate are not required to submit a Police Clearance Certificate, unless they have been living in the Cayman Islands for less than five-year, or their business offers services in a certain category.
o Those business categories are: child care, dance classes, afterschool classes, pre-school, babysitting, summer programmes, elderly care, money lending, accounting, wellness services specific to children.