Introduction of Jamaica Company Registration
As a business person, you devote your entire energy, time and money to make your business a success. All that hard work deserves some reward. How about a visit to the Caribbean? If you must stay in modern facilities, then Jamaica should suit you. When you take a stroll in this beautiful country, you probably cannot help but fall in love. The friendly and welcoming nature of Jamaicans will make you think, why not set up my trade right here. If starting a business or expanding the current one is clearly on your mind, maybe you should get to know about Jamaica company registration.
Jamaicans are generally a happy bunch. First-time visitors have become frequent visitors. Surely the Caribbean culture is appealing in one way or another. It is the islander vibe that makes anyone feel taking it easy is the right thing to do. Jamaica is also an upper-middle-income country, where locals can afford leisure, comfort, and overall well-being. For businesses, that is one driving factor that makes starting a business in Jamaica seemed viable. With a natural beauty to go with it, Jamaica’s charm seemed never-ending. Be it for frequent travelers or first-time visitors. Jamaica’s strategic location is also another attractive element. It is ideally located in the heart of the Caribbean and has multiple access to half a billion of the Western Hemisphere population.
Business the Jamaican Way
Business people can look forward to fiscal incentives such as reduced corporate income tax and reduced stamp duties. Companies in special economic zones could even be tax exempted. Business owners can easily hire locals as they are educated, trained in the workforce and speak English fluently. The Jamaican government continues to implement across the board reforms to ensure its economy remains steadfast. According to a World Bank study, Jamaica is ranked third in the Latin America and Caribbean region for ease of doing business. With these and many more economic reforms coming, Jamaica continues to attract foreign investors and local business people to set up shop.
Jamaica Company Registration
Before embarking on the business journey in Jamaica, you would have to register a company. Hence, you need to decide the company structure most suitable for you. With regards to the company or business registration, you can do so at the Companies Office of Jamaica. When registering a company and business in Jamaica, the following are general guidelines for you to adhere:
- Do a business name search and reserve the desired name. You can book the name for up to three months before registering it.
- Next, submit the Articles of Association or Form 1A. The form requires your company name, a Jamaican registered address, number of shares (if any), restrictions on share transfers (if any), the minimum or maximum number of directors. Once completed, this document must be stamped.
- This is followed by submitting the ‘Super Form’, the business registration form. The form requires information of all director details, secretary, registered office and other relevant data. It is vital as these details are for the National Insurance Scheme, Tax Office, Heart Trust, and National Housing Trust.
The principal director must bring along an original government-issued identification to the Companies Office when submitting the required documentation. An individual declaring all information on the form is accurate must be present as well. The documents will be examined thoroughly. If all requirements are met, a Certificate of Incorporation will be issued in four working days.
Don’t Worry, Be Happy
If you are pressed for time or need assistance with registering a Jamaica company, feel free to get in touch with us. Don’t you worry, we are happy to assist in making you comfortable and stress-free.