The Ministry of Financial Services and its related entities have instituted a number of changes to increase efficiency of its operations to better support the work of the financial services industry in the midst of the coronavirus (COVID-19) pandemic.
Most of the changes can be seen in the registration of company details with the Registrar of Companies (RoC) and the filing of intellectual property through the Cayman Islands Intellectual Property Office (CIIPO). Both sections of the General Registry department have increased the amount of staff able to work remotely.
“Given the current environment, it is more important than ever that the Ministry and its departments operate as efficiently as possible,” Financial Services Minister Tara Rivers said. “Increasing the number of staff able to remotely assist with registrations and filings is critical to facilitating business continuity during these challenging times as the world grapples with this pandemic,” she said.
In addition to the improvements made by the General Registry department, the Ministry said it maintains the ability to create necessary financial services legislation, through the Department of Financial Services Policy and Legislation, and address tax-related matters, through the Department for International Tax Cooperation (DITC). It should be noted that the DITC continues to address various queries, with a reasonable response time.
“I commend the efforts of the Ministry and related departmental staff, and CIMA during these unprecedented times. Many people put in long hours and work tirelessly to ensure that business can continue as seamlessly as possible in order to maintain Cayman’s position as a leading global financial centre,” Minister Rivers said.
Ministry of Financial Services, Department for International Tax Cooperation, Coronavirus, Registrar of Companies, IP, Remote Working, Tara Rivers, Cayman