Plans to fully digitise the Corporate Registry of the Corporate Affairs and Intellectual Property Office (CAIPO) are already in the works, and should be implemented in August.
The first phase of the project, which officially began on April 1 this year, includes fully digitising the procedures for incorporating new companies, societies with restricted liabilities and the registration of business names.
CAIPO has partnered with an international IT development firm, and other stakeholders, such as the Ministry of Innovation and Smart Technology (MIST), to develop and implement the new, fully electronic, user-friendly system.
With CAIPO becoming fully digitised, customers will be able to utilise a web portal and mobile app to pay for, and have their applications processed seamlessly, anytime from anywhere, online. This means that the entire process, from filing documents to the issuance of certificates would be completed without customers having to leave their home or office.
The new system will also incorporate a high degree of automation and artificial intelligence (AI), which means the instantaneous registration of some filings, such as Notices of Director, Notices of Address and Annual Returns, and other processes requiring the issuance of a certificate, can be completed within 24 hours.
Persons will also be able to conduct a public document search; download documents and receive alerts and notifications via SMS, email and social media as soon as their documents have been filed, received and processed. This will eliminate the step of checking files and papers at CAIPO to see if a document is ready.
CAIPO’s website is also in for an upgrade, with plans to make it more interactive, dynamic and user-friendly. It will feature instructional videos and help desk services to assist customers.
The new and improved system will provide for an increase in the efficiency of processing applications and documents, thereby saving time and expense, and maximising resources.
Ultimately, CAIPO’s fully digitised system should make it easier to do business in, and with Barbados.
The second phase of the project, which includes all other post incorporation or registration processes, such as amalgamations, amendments, dissolutions and revivals, is scheduled to be implemented in January 2022.