In January 2004, the plans for the establishment of the University College of the Caribbean, as the new corporate identity for IMS/IMP, as well as its logo were presented at a formal unveiling ceremony. Effectively, IMS/IMP operated as subsidiaries of this new parent entity.

Essentially, the aims and objectives of the UCC, are to firmly position the institution as a centre of excellence distinguished by a wide variety of programmes at all levels of the academic spectrum; to align the institution in order to ensure that it embodies new, emerging and changing trends in order; to remain a relevant and viable option for higher education in Jamaica and the region; and finally to benchmark the institution against professional practices and international standards.