Corporate administrators in the Cayman Islands have a new, more efficient online tool for submitting company information to the Registrar of Companies.

With the introduction of the Corporate Administration Platform (CAP) on Wednesday, 19 April, Cayman-based companies can electronically submit director, officer and other client details to the Registrar.

General Registry, which contracted Brac Informatics Centre to build the system, launched CAP to more than 150 corporate administrators at the Marriott Grand Cayman Beach Resort.

Also present was the Ministry of Financial Services’ Chief Officer, Dr Dax Basdeo, who delivered opening remarks on behalf of Minister Wayne Panton.

‘CAP is a ground-breaking service for corporate service providers (CSPs) that do business in the Cayman Islands, yet from anywhere in the world’, Dr Basdeo said. ‘The approach to developing it was the latest example of the joint commitment between General Registry, and you in industry, to providing stellar customer service’.

CAP is the newest component of the Cayman Islands Online Registry Information Service (CORIS), which caters to CSPs licenced by the financial services regulator, the Cayman Islands Monetary Authority. Its new features include a contact management system and a document e-delivery function, in addition to continuing to offer all of the other services which are available on the current online system, the Electronic Document Management System (EDMS).

CAP is the successor to EDMS, which will cease being operational on 1 November 2017. As part of its discontinuation, certified copies and certificates will no longer be emailed, but instead will be available electronically through CAP.

‘We received a lot of positive feedback about the capabilities of the platform, especially in its ability to reduce time and minimise costs with matters such as filing annual returns’, Deputy Registrar General Donnell Dixon said. ‘We’re confident that the CSPs will make a smooth transition to CAP from EDMS’.