GRAND CAYMAN – The Department of Commerce and Investment (DCI) has processed and issued over 1400 trade and business licences since March 25.

Of that number, 305 have been new trade and business licences, 1014 trade and business licence renewals and 136 trade and business licence amendments.

Commerce Minister Hon. Joey Hew has commended the DCI team for their tremendous work in processing the large number of licences within a short timeframe. “DCI continues to go over and beyond to ensure business owners are able to meet requirements where current licences are being requested to obtain exemptions and financial assistance. The team meets weekly and Board meetings are continuing, with the use of technology”.

“I cannot underscore enough the importance of small businesses to our Islands. In the past few weeks Government has renewed the small business incentive grant programme, temporarily waived trade and business licensing application fees for some 3000 business and also provided assistance of over $14 million in relief measures to support relief measures for micro and support businesses. We will continue to find ways to provide further support to businesses owners affected by this global pandemic,” continued Minister Hew.

Government recently approved the Trade and Business Licensing (Temporary Reduction in Fee) Regulations 2020, which waives the payment of trade and business licensing application fees for businesses, from May 1 to July 31 2020.

In addition, late fees from March 1 to July 31 2020 have been waived for all applicants.

Members of the public can also visit the Department of Commerce and Investment website, www.dci.gov.ky for trade and business licensing and other information.

Local companies and exempt companies can contact [email protected] to submit applications on a limited basis.