Site simplifies application process for international companies wanting to set up in Cayman’s Special Economic Zone

Grand Cayman, Cayman Islands – The application process for international companies seeking to set up a physical presence in the Cayman Islands has gone online with the launch of Cayman Enterprise City’s new web-based client portal. Cayman’s special economic zone developed the portal in conjunction with Brac Informatics Centre, an international provider of technology and cloud-based solutions based in the Cayman Islands.

The portal allows for streamlined submission and processing of CEC special economic zone company (SEZ Co) applications. With applicants coming from far reaching parts of the globe, an

‘Always On’ model is critical.  The online system electronically connects CEC’s Client Services team with the client and their advisors. They can easily exchange documents 24 hours a day, 7 days a week, irrespective of time zones and geographic locations.

“The whole idea is to make it easier for the client to complete the process and view the status of their application at any given time,” says Client Services Manager Maria Phillip, “sometimes there are several people involved in the process, in disparate locations and now they can all log in to review the application and make changes as needed.”

Since Cayman Enterprise City opened for business 24 ago, the team has used a manual application process based on e-mail and pdf attachments. Now, with the new system, applicants utilize their personalized secure web portal to easily upload their documents and submit their information using customized web-forms. The system automatically integrates the applicant information into the CEC workflow for vetting prospective clients.  Completed applications are automatically forwarded for consideration to the Special Economic Zone Authority (SEZA) minimizing delays associated with insufficient data.  The CEC Client Portal efficiently aggregates and presents the information required for comprehensive, rapid decision- making.

“This gives us more time to provide other client services that are needed because we are not spending so much time on emailing documents back and forth and managing paper copies,” says Phillip.

“The system forms the foundation for transitioning CEC to an ‘Always On’ paradigm thereby enhancing the on-boarding experience for new companies moving to the Cayman Islands,” says BIC President Nancy Ewing. “It was nice to work with them in the design of a system to give them a competitive edge for attracting prospective economic zone clients to our country.”

Cayman Enterprise City considered several internationally based systems, but Maria Phillip says CEC decided to go with Brac Informatics Centre because of its solid reputation and experience and the advantages of working with a Caymanian company. She had direct input on the design of the portal and its functionality, and most importantly, she had easy access to the BIC software development team. “Automating the application process has added significant value to our client experience so it’s been a really valuable upgrade to our process,” she adds.

“The portal will not only allow CEC to efficiently add new clients, it also enhances their ongoing relationship with each client.   While the initial use is primarily for making the onboarding process convenient and efficient, over time the portal will add to the productivity of the companies operating within the zone, “comments Nancy Ewing. “CEC’s goal is to provide a platform to empower international companies to be successful in the Cayman Islands and we are pleased to do our part.”

Cayman Enterprise City, through Brac Informatics Centre, now has a robust system to manage its database as CEC grows and develops in the years to come. More than 105 companies are currently established in the zone, designed to attract companies in Internet and technology, commodities, media, biotechnology and academia. Cayman Enterprise City enables businesses to set up a physical operation in Cayman with offices and staff on the ground, to enjoy Cayman’s jurisdictional benefits along with a raft of special zone concessions granted by the Cayman Islands Government.

About Cayman Enterprise City

Cayman Enterprise City is an award-winning Special Economic Zone in the Cayman Islands focused on knowledge-based industries, technology companies and specialized services businesses. With a dedicated Government Authority and guaranteed fast-track processes, International companies can quickly and efficiently establish a genuine physical presence in Cayman to generate an active business income. The zone enables businesses take advantage of Cayman’s jurisdictional benefits which include zero corporate tax, zero income tax and zero capital gains tax, along with a raft of special zone concessions and incentives. These concessions were designed to attract international companies from five specific high-tech sectors; internet and technology, media and new-media ventures, biotechnology, commodities and derivatives, and academia.

About Brac Informatics Centre

Brac Informatics Centre, BIC, is an international service provider of technology and cloud-based solutions for its clients throughout the Caribbean, North and South America. BIC has built a world-class facility in the Caribbean and assembled the staff, technology infrastructure and exclusive partnerships required to create and deliver Online Services for over a decade.

BIC provides secure self-service portals to assist public and private sector organizations meet their clients’ demands for 24x7x365 access to information. Government departments, insurance companies, branch offices and small to mid-size enterprises utilize our secure, highly available services to manage their information and improve their efficiency. www.bracinformatics.com