Plans to fully digitize the Corporate Register of the Office of Corporate Affairs and Intellectual Property (CAIPO) are already underway and should be implemented in August.
The first phase of the project, which officially started on April 1 of this year, includes the complete digitization of the procedures for incorporation of new companies, limited liability companies and the registration of trade names.
ACIPO has partnered with an international IT development company and other stakeholders, such as the Ministry of Innovation and Smart Technology (MIST), to develop and implement the new fully electronic system and user-friendly.
With CAIPO becoming fully digital, customers will be able to use a web portal and mobile app to pay and have their claims processed seamlessly, anytime, anywhere, online. This means that the entire process, from filing documents to issuing certificates, would be completed without customers having to leave their homes or offices.
The new system will also incorporate a high degree of automation and artificial intelligence (AI), which means instant registration of certain filings, such as director notices, address notices and annual reports, and d ‘other processes requiring the issuance of a certificate, can be completed within 24 hours.
People will also be able to search for public documents; 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 records and papers at CAIPO to see if a document is ready.
The ACIPO website is also being upgraded, with plans to make it more interactive, dynamic and user-friendly. It will offer instructional videos and support services to help customers.
The new and improved system will increase the efficiency of processing applications and documents, saving time and expense, and optimizing resources.
Ultimately, ACAPO’s fully digital system should make doing business in Barbados and with Barbados easier.
The second phase of the project, which includes all other post-incorporation or registration processes such as mergers, modifications, dissolutions and re-creations, is expected to be implemented in January 2022. (BGIS)