DCI Launches Online System for DNFBPs

The Department of Commerce and Investment (DCI) has launched a new online system for Designated Non-Financial Business and Professions (DNFBPs) to facilitate various interactions between the Department and DNFBPs for regulatory and compliance support.

The DNFBPs that are under DCI’s regulatory supervision include real estate agents, real estate brokers, property developers, dealers in precious metals and dealers in precious stones.

The online system, which is accessible at www.dci.gov.ky, allows DNFBPs to register online, update information and submit documents such as transactions reports. The system, which will be used to manage registrations, desktop reviews and administrative fines, will also function as a mechanism for communication between DCI and DNFBPs.

Director of DCI, Ryan Rajkumarsingh noted that part of DCI’s obligations to the Caribbean Financial Action Task Force is for the Department to ensure that regulated industries are compliant or are taking steps to achieve compliance with the requirements established under the anti-money laundering regulations.

“We are committed to providing all the required support to ensure compliance and also maintaining continuous communication with our customers. We will continue to improve our services. We look forward to partnership on these goals and hope that our customers will reap the benefits of this innovative way of doing business” said Mr. Rajkumarsingh.

Head of Compliance and Enforcement at DCI, Claudia Brady noted that the new system is designed to be convenient and less time consuming to customers. “It will facilitate efficient and secure interactions between DCI and DNFBPs. This is part of our continued efforts to improve customer service as we strive to be a world class civil service and also protect the reputation of the Cayman Islands”, she said.

The project to deliver the new online system was managed by the E-Government Unit in the Ministry of Commerce, Planning and Infrastructure.

Director of E-Government Unit, Ian Tibbetts highlighted that the Unit continues to expand government services online. Currently, 96% of company registrations, annual returns and director changes are now being done digitally. In a few days, the Unit will also launch an online system to allow persons to apply for naturalisation or registration as British Overseas Territories Citizen, as well as a system to facilitate submissions for publishing in the Gazettes.

Other online projects recently delivered by the E-Government Unit include the Department of Vehicle and Drivers’ Licensing renewal service for guest users and the DCI’s trade and business licence online service which allows business owners to apply or renew their licences online. Over the past three months, approximately 74% of all trade and business transactions were done online.

“These services have transformed the way our customers can now do business with the Cayman Islands Government, and forms a key part of our strategy to deliver more efficient services to the businesses and the general public,” Mr. Tibbetts said.

To accommodate DNFBPs that do not have online access, the DCI will continue to accept hard copies of applications until all DNFBPs are added to the new system. Documents should be submitted to the Department of Commerce and Investment counter at the Government Administration Building.

Members of the public can contact the compliance section of DCI via email at [email protected].