Government MP Criticizes Corporate Registry in Barbados, Calls for Overhaul | Business Barbados Bill Discussed

A government MP has launched a scathing critique of the corporate registry, describing it as “a mess” that is “not fit for business” as Parliament debated new legislation to overhaul the agency for business registration and intellectual property and rename it Business Barbados.

St James North MP Edmund Hinkson blasted the Corporate Affairs and Intellectual Property Office (CAIPO) and lamented a failure to meet the needs of businesses. Speaking on the Business Barbados Bill, the former Cabinet minister was blunt in expressing his frustration with the department.

Explaining that he was “not bound by Cabinet” and could therefore speak candidly, Hinkson said: “The fact of the matter is that CAIPO is in a mess. That is the truth. CAIPO is not what it ought to be and this is not the fault of any one administration.

“This has been so for years and it lies within this administration right now to try and do its best to fix the problem. Barbados is not an easy place to do business in, whether within the private sector or the public sector.”

Hinkson noted that reforms introduced during the COVID-19 pandemic had improved the efficiency of company incorporations, but the process remained inadequate.

“In other countries, and in . . . CARICOM, you were having overnight incorporation of companies. So, during COVID that is what resulted in Barbados. Reforms have started under CAIPO but it still . . . remains not fit for business.”

He warned that inefficiencies and bureaucracy deter investment, saying: “If people are frustrated by processes, they will go elsewhere. They will say, ‘Look, I ain’t bothering with this here anymore’.”

Welcoming the Business Barbados Bill, Hinkson described it as a critical step toward making Barbados a more business-friendly jurisdiction.

“The goal of this bill is to try and bring some kind of efficiency in dealing with corporate affairs in this country and intellectual property. That is the truth. It is to elevate the quality of service, customer service to the people of Barbados and by extension to non-Barbadians who want to invest in this little rock,” he said. “There’s a backlog of documents in our registry and any attorney-at-law or their clerk who deals with [CAIPO] on a daily basis will tell you that they are really frustrated.”

Hinkson underscored the need for government departments to modernise their operations and emphasised that the economy depends on creating a conducive environment for investment.