The Cayman Islands government has once again extended the discounted licensing fees for micro and small businesses that were first implemented in 2015.
Since that time, micro businesses – those with four or fewer employees and gross revenues of less than $250,000 – have been able to get their business licenses free. Cabinet has extended that same fee structure to Dec. 31, 2019.
Small businesses are defined as those with no more than 12 employees and with gross revenue of $750,000 or less. Those businesses will have their licensing fees discounted either 50 percent or 75 percent depending upon location.
The discounting schedule for small businesses is as follows:
- George Town: 50 percent
- West Bay: 50 percent
- East End: 75 percent
- North Side: 75 percent
- Bodden Town: 75 percent
- Little Cayman: 50 percent
- Cayman Brac: 50 percent