Business owners warned over new fines

| 07/01/2016 | 2 Comments
CNS Business

Ryan Rajkumarsingh, Director of the Department of Commerce and Investment

(CNS Business): Owners who breach business licence requirements risk receiving tickets for fines from $100 to $2,500 now that the new trade and business license law has come into effect, officials from the ministry of commerce have warned.  The amended legislation 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.

The DCI is administering the new ticketing system, which Director

said was not about punishing people but encouraging them to comply with the law.

“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 said. “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 in Cayman.”

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 trial. 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, Rajkumarsingh explained, and is intended to lead to greater efficiencies in the overall business licensing system. Among other features, it reduces approval times for licences, clarifies business licensing categories, and, through the ticketing regime and other provisions, improves DCI’s enforcement powers.

The Trade and Business Licensing Law, 2014


Category: Local Business

Comments (2)

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  1. Kanoopy says:

    I’m led to believe that the new law addresses the business owners who have licenses but are delinquent, and not those running businesses without a license.

    How can you go after who you don’t know about? There are quite a few operating under the radar, and it’s so easy to do.

  2. The Turtle says:

    Got to be kidding me.. fine for.not showing your license.. WTF at least we pay it!!!! Use the police to use there resources on fighting crime..
    Why punish people who. Pay their license, go after all the people who don’t have a licence, who don’t pay health, pension and make their staff work 50-60hr pwc without OT

    I love this dept calls about surveys, I get a call once twice a year. You.must complete this or we will prosecute you.. guess what I’m too busy trying to make money to support my family.
    Boys this dept must have nothing to do. Bunch of donkeys asses

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