Medical Cannabis Industry licenses can be paid in installments

THE high cost of the licenses to operate within the medical cannabis industry has been heavily criticised, with many saying it is out of reach for the average person.

However Chief Executive Officer of the Barbados Medicinal Cannabis Licensing Authority (BMCLA) Dr. Shantal Munro-Knight announced that all applicants approved for a medicinal cannabis license will have the option to pay the fee in three installments.

According to Dr. Munro-Knight, “One of the things that is important to understand is that yes, the medicinal cannabis industry itself is expensive, there is no getting away from that. However we are putting things into place to allow for equal participation from every level of person who wants to participate in the industry. If you look at our license fees it covers five years. So a Tier 1 cultivator license which is about $29 700 is really less than $6 000 per year and that total is inclusive of costs like compliance inspections and costs for track and trace.”

The CEO continued, “What we are doing is looking to have that license fee paid over a period of time. So a person with a cultivator license Tier one will be able to pay $29 700 in three installments. This will help to leverage the playing field because in this industry we consider the average Barbadian being able to participate in relation not only to the license, because there is the costs of set-up, security and everything else, but this will be an inclusive and integrative industry as stated in our core values.”

She once again urged that Barbadians think collectively about entering the industry, noting that “if five average Barbadians can come together and pool together, their financing to get into the industry and build as entrepreneurs in whatever category of license – absolutely yes it’s accessible.”

She pointed out that the upcoming BMCLA presents BAJCAN Connect to service Providers Forum also provides another opportunity for Barbadians to get into the medicinal cannabis industry with support services.

“Those persons who have licenses will need support services. For example, if a person comes here to establish processing facilities – they are going to need construction workers, real estate agents, container services, hydroponics, greenhousing, scientists, alternative energy, security and so on. That level of expertise is going to be needed from Barbadians. So there are multiple ways to participate in the industry,” she advised.

A cursory look at some of the fees associated with the application process within different aspects of the industry include: Application fees for Cultivator License $1 980; Research and Development License $5 940; Laboratory License $ 9 900; Processor License $5 940; Retail Distributor License $5 940; Import License $1 980; Transport License $1 980.

Cultivator License valid for five years : Tier 1 - no more than 1 acre $29 700; Tier 2 over 1 acre to 5 acres- $123 750; Tier 3 over 5 acres to 25 acres $99 000, Tier 4 - more than 25 acres $79 200.

Research and Development License: $74 250. Laboratory License $74 250. Processor License Tier 1 - less than 200 square meters $148 500; Tier 2, 200 - 500 square meters $742 500; Tier 3- more than 500 square meters $990 000. The Retail Distributor License for a therapeutic Facility is $148 500.