Cayman Islands News – New Policy on issuing e-Certificates by the Cayman Islands Registrar of Companies
As from 2nd June 2014, the Cayman Islands General Registry began delivering electronic copies for certificates ordered on the Cayman Online Registry Information Service (“CORIS”) system. Now that the online services for issuing e-certificates has been activated for all Cayman companies, the Registry will no longer issue paper certificates as the certificates are available online.
The Registry is happy to be able to offer this enhanced service, as they have found this to be a more convenient and most efficient to conduct business with them.
To note further, effective 1st January 2015, Certificates of Good Standing will not be issued by the Cayman Islands Registrar of Companies unless all relevant fees and penalties due at the date of request have been paid and annual returns filed. The following is an excerpt of the Companies Law (2013 Revision).
Certificate of good standing S.200A.
- The Registrar may on application made by a company issue a certificate of good standing to a company that is in good standing in accordance with subsection (2).
- A certificate of good standing is evidence of the fact that the company is in good standing on the date that the certificate of good standing is issued.
- A company shall be deemed to be in good standing if all fees and penalties under this Law have been paid and the Registrar has no knowledge that the company is in default under this Law.
For further information on changes to the regime and how they might affect you and your clients, please feel free to contact your KEY account managers.