Most Read Contributor in Cayman Islands, September 2016
Persons who breach their business licence requirements in
Cayman will be subject to receiving tickets and paying fines under
the new Trade and Business Licensing Law.
The law, which commenced on 1 January, includes penalties that
will be levied on business owners who commit offences ranging from
failing to clearly display their trade and business licence; to
hindering a police officer or Department of Commerce and Investment
(DCI) trade officer during the course of an activity, such as a
search of a business premise. Tickets range from $100 to
DCI will administer the ticketing system, which the
department's Director Ryan Rajkumarsingh says is not to punish
people, but rather to encourage them to fulfil their
responsibilities under the legislation.
'Over the years, business owners who follow the law have
asked repeatedly that Government implement a mechanism that
addresses those who are not in compliance', he explained.
'So it was no surprise that, when DCI held educational
meetings leading up to the implementation of the new TBL, this was
one of the main subjects that attendees raised. Business owners see
compliance as one of the main factors that ensures fair competition
Business owners will have two ways of dealing with tickets. They
can either pay the ticket within 28 days after it has been issued,
or request, within 28 days of receiving the ticket, a Summary Court
Failure to either pay the ticket, or to notify the Summary Court
within the specified time frame, will result in business owners
being summoned to court.
The new law focuses on creating a level playing field for
businesses, and is intended to lead to greater efficiencies in the
overall business licensing system. Among other features, it reduces
approval times for licenses, clarifies business licensing
categories, and, through the ticketing regime and other provisions,
improves DCI's enforcement powers.
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.
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