If you wish to sell or cease your business there are some processes you need to consider.
Trade & Business Licences cannot be transferred from one Sole Trader to another person. Each person is required to submit their own T&B application.
In the case of Registered Companies, the Trade & Business Licence is not issued in the name of a person, but to the registered entity. Therefore the licence remains assigned to the Company even if Members or Shareholders change.
There are specific steps and documents required however whenever changes occur relating to shares or control of the Registered Company.
To cease a Trade & Business licence you would be required to provide the following:
For a Sole Trader
- Completed Amendment Form signed by Sole Trader licence holder
- Copy of Signature ID (Driver’s license or passport for verification)
For a Registered Company
- Completed Amendment Form signed by an Authorized Company Signatory
- Copy of Signature ID (Driver’s license or passport for verification)
- Copy of Company Resolution to cease the Trade & Business Licence
You may submit these documents either via email to info@dci.gov.ky or deliver to the DCI business licensing counter located on the ground floor of the Government Administration Building.