Trade & Business License - Renewals
Section 23 (2) A licensee who fails to pay the renewal fee within twenty-eight days after the expiry date of the licence shall, unless the Board waives it, pay to the general revenue of the Islands a surcharge not exceeding twenty-five per cent of the renewal fee specified in Schedule 1 for every month or part of a month that the renewal fee is not paid, such amount not exceeding the renewal fee. (3) If the renewal fee referred to in subsection (2) is not paid and the licensee continues to operate the trade or business, in addition to any criminal penalties to which the licensee is liable, the unpaid renewal fee may be sued for by the Board by action as a civil debt and the Board may require, and the court may order, the payment of any surcharge accrued under subsection (2) in respect of the late payment of the renewal fee. (4) Where the renewal fee is not paid for a period of five months a licence shall be suspended or revoked by the Board and section 29(6) or (7), as the, case may be, shall apply.
The application must be accompanied by a filing fee of CI$75.00 and the appropriate licence fee as determined from the Schedule of Fees. To download a copy of the schedule, please click here. Note: the fees change periodically and applicants should enquire with the Trade & Business Licensing Board Secretariat to confirm the current applicable fee). In the case of a trade or business carried out in Cayman Brac or Little Cayman, the licence fee (not the application fee) is 50% of that stated in the Schedule of Fees.
Information relating to the company
In the case of a Caymanian controlled company:
- Current register of Directors, Officers and Members (shareholders) including nationality and date of birth of each person and the Annual Returns as proof the company's good standing with the General Registry.
- Where shareholdings and/or directorships have changed since the current licence was granted or previously renewed, proof that at least 60% of the shareholders and at least 60% of the directors of the company are Caymanian must be provided.
- Current approvals for Civil Servants, Police Officers and applicants in similar positions to continue their involvement in business outside their primary duties.
- Current approvals from relevant Government Departments etc. (eg. Environmental Health).
- Where the business or office is operated from an apartment or condominium, a letter from the landlord and the manager of the apartment complex or strata committee approving the continued use of the premises for the business in question.
- If the applicant is a company also holding a Local Companies (Control) Licence, the Register of Directors, Officers and Members must be submitted but the requirement concerning proof of 60% Caymanian ownership is not applicable.