Most Read Contributor in Cayman Islands, September 2016
Local persons and businesses that engage in the trade of certain
animals and plants, and the product derivatives of animals or
plants, will have a quicker process by which to be licensed.
The Department of Commerce and Investment (DCI) have amended
their trade and business licensing forms to include individuals and
businesses that trade in species listed under the Convention on
International Trade in Endangered Species of Wild Flora and Fauna
The new forms aim to reduce the time spent on the licensing
process, as applicants no longer have to separately approach the
Department of Environment to be registered as a CITES trader, and
encourage compliance with local CITES-specific regulations.
CITES is an international agreement for global species
conservation that has been extended by the UK to Cayman. It
subjects international trade in specimens of selected species to
certain controls. Under local legislation, specifically the Endangered Species (Trade and Transport) Law
2004 (ESTTL), there is greater regulatory oversight for
permits, importations, and other activities related to the trade
and transportation of locally and internationally listed endangered
In the ESTTL, Part IV intends to improve Cayman's ability to
track and control trade in local species, through the registration
of businesses and persons selling, or carrying out other activities
with, listed species. DCI's business licensing forms were
changed in order to comply with the law.
To be licensed, traders of animals and plants, and the product
derivatives of animals or plants, are required to review the
international CITES appendices and the ESTTL to determine for
themselves whether they are trading in CITES-listed species or
DCI has also created a checklist of items for CITES traders to review
in order to help in completing their licensing application.
Individuals or businesses who are trading in CITES-listed
species or products must fill out a CITES trader registration form,
at no additional cost to the applicant, and submit it to DCI.
Failure to become registered as a CITES Trader, while continuing to
trade in CITES-listed species or products, can lead to a fine up to
$500,000 and/or imprisonment for four years as well as seizure and
forfeiture of any vessel or property used during illegal
Anyone who trades in animals and plants, and the product
derivatives of animals or plants, can visit the Business Licensing
Counter (formerly called the Trade and Business Licensing Counter)
on the first floor of the Government Administration Building from
9am to 4pm, Mondays to Fridays, to collect a CITES trader
registration form and an information brochure. Alternatively,
persons can visit the DCI website, www.dci.gov.ky, for the required forms and
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Failure to comply with company law in Hong Kong can be very expensive for businesses. In a highly dynamic business and regulatory environment such as Hong Kong, it is challenging for business owners to remain fully aware of the latest legal requirements.
In our article " Characteristics of the Commercial Agency Law of the United Arab Emirates" published with Mondaq on 27.09.2016, we outlined the general applicability of the UAE Commercial Agency Law (Federal Law No. 18 of 1981 including its amendments).
Confidentiality of corporate documents and information is one of
the key attractions of incorporating a company in the BVI. A
company search of the BVI Registrar of Corporate Affairs will only
disclose certain information and documents.
Luxembourg's Companies Act ‘reform bill' includes new rules for conversions of company types and introduces the S.à r.l.-S.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).