Gov’t goals to extend entry to LCCL companies

^{Indigo Bay Development Ltd, which is building condos in South Sound, operates under an LCCL (photo from social media)}

(CNS): The Department of Commerce and Investment (DCI) has rolled out a new requirement for overseas investors applying for Local Companies Control Licences. They must now place their adverts looking for local partners on the DCI website as well as in the print media. Officials said the aim is to put these opportunities before a wider audience and encourage Caymanians to be more involved in the country’s economic success. Going forward, the public will be able to see these business proposals all in one place. But in most cases, applicants are looking for significant cash injections, presenting a barrier to local involvement.

“Our objective is to ensure that news of these investment opportunities reaches as wide an audience as possible, and we are committed to exploring various means to achieve this,” said Trade and Business Licensing Board Chairman…

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