Without an iota of doubt, this sector is one of the biggest money spinners in Jamaica. If you're starting a business in Jamaica as a company, you have a fair amount of documentation to submit. Below is a list of selected Businesses in Jamaica. This is to enable your business to keep to international standards of hygiene and cooking practices, especially since you will be serving an international audience. A business in Jamaica is a sole proprietorship — a sole trader in Jamaican terms — or a partnership. Company Name Registration. This is provided an idea of the types of businesses in Jamaica. The Jamaica Business Development Corporation (JBDC) was established in April 2001 as the lead support agency to the Micro, Small and Medium Enterprises Sector (MSMEs) in Jamaica. Major sectors of the Jamaican economy include agriculture, mining, manufacturing, tourism, and financial and insurance … Start the process by completing the online application and we will contact you within 24 hours to finalize the process.” Food Truck Business. Your email address will not be published. ... (Jamaica) Limited. Every trader having a place of business in Jamaica is required to be registered under RBNA. If you like the idea of going Jamaican but you're still unclear on your business idea, consider what you really want. Submit a copy of Jamaican Form 31 along with a copy of the articles of incorporation. If the name implies connections with a specific political party or with royalty, you need to justify the name choice. Businesses for sale in Jamaica. Agricultural Marketing Corp. To succeed in Jamaica, you need to put in the same effort planning your business you would anywhere else and comply with government regulations. The company has been registered since 2012 and working on the back-end completing extensive beta testing and market research. Yep, absolutely free! Sagicor Group Jamaica is a majority owned subsidiary of the Sagicor Financial Corporation (SFC) ... We’ve created a one-stop shop for small business financing by wholesaling funds made available through our wide network of credit unions, micro financing institutions and cooperative banks. Jamaica is a country in the Caribbean that has several business ideas that can be exploited, to set up businesses and ventures. Registering a company in Jamaica that's based overseas requires several steps: The Registration of Business Names Act in Jamaica is literal. A background in military service or the Police will help to shore up your appeal. Companies Office of Jamaica: So You Want to Go Into Business, Jamaica Global: How to Set Up a Business in Jamaica, Companies Office of Jamaica: Business Registration Form, Jamaican Information Service: Applying for a Jamaican Work Permit, Exchange Rates: Convert US Dollars (USD) to Jamaican Dollars (JMD), Trade Board: Items Require Import License, Jamaica My Way: Starting a Business in Jamaica, A permit application form, which is available from the ministry's website, The nature of the work and how long you'll be doing it. There are several benefits associated with registering your company or business. You can register your new venture as either a business or a company. Some service businesses may be a little different in Jamaica than if you were operating out of a U.S. city. Foundation and Internet Income Jamaica From Job Loss to Financial Confidence with the N.C.B. The country’s business climate is stable and it also promises a good return on investment. List of Top Companies in Montego Bay and their Contacts, Addresses, Emails. If you use a personal name, it must be yours, one of your parents' names, or a family name. Your music firm may need to have international connections oversees with reputable music brands to export the musical talents you discover. 1. A crop that is grown extensively is bananas. Although a lawyer is not required to start a business in Jamaica, an experienced lawyer will be useful for creating the Articles of Association and filling out necessary forms. You will be operating from a platform/genre of music; Reggae, which already commands global appeal and attention. The cost ranges from $27,000 in Jamaican dollars for under three months to $108,000 Jamaican for a year. Reviewed by: Jayne Thompson, LL.B., LL.M. There are two ways to effect registration of a business name: (1) as a Sole Trader or (2) as a Partnership. Thanks to the exposure gained from this website, I've learned quite a lot (And I mean A LLLOT!) It is estimated that several millions of people visit Jamaica yearly to experience the wonders of nature. He's also run a couple of small businesses of his own. Top 10 Small Business Investment Opportunities in Jamaica. Ascertain whether the desired name is available and acceptable by completing and submitting a Companies Name Search and Name Reservation Form at the Companies Office of Jamaica. National Development Foundation of Jamaica (NDFJ) The NDFJ was established in 1981 as a non-profit organization, to develop and promote … Before starting a business in Jamaica, you or your company's representative must apply to the Jamaican Ministry of Labor for a permit allowing you to work there. QUESTION: I am looking to start my own small business and I would just like to know what the most profitable businesses to start in Jamaica are.. Tanisha. If you're exporting goods, how easy is it to secure a supply? A company is a for-profit or nonprofit organization that incorporates or registers in Jamaica. Our mandate is to boost the MSME. Names that imply a geographic scope, such as "international," "Caribbean," "worldwide" or "global" require evidence that you have that kind of reach. An added stream of income for your taxi service business could also entail operating a driving school for tourists and expatriates who want to learn the ropes of driving on the streets of Jamaica. Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. You can set a music production firm to manage and produce budding musical talent. With close to 5,000 businesses registered last year, the number of businesses has grown to … You can't register names containing obscene language or indicating an illegal activity. What are some cool lucrative business ideas in Jamaica? Adventurous tourists are always willing to try out these delicacies as part of their local experiences. Beni Bouka is a business owner in Little Jamaica. Applying for one of our products is easy. A day after the St Mary Chamber of Commerce, Industry and Agriculture raised concerns about the likely adverse impact of the deadly novel coronavirus on local businesses, the parliamentary Opposition has added its voice to those warning that even if the virus never gets to Jamaica, it will have a … You need a place to store your inventory. Jamaica is a tourist’s haven. That requires having your legal representative submit the necessary paperwork and information to the Work Permit Department of the Ministry of Labor, including: If you're applying for a work permit for an employee, such as a branch manager, you have less paperwork, but you need to supply an explanation for why you can't fill the job with a Jamaican citizen. Our website works as a powerful tool for attracting more clients. While the government has increased spending on improving the delivery of security via its official security bodies, a lot still has to be done. You can set a team of route taxis to cater to this need of moving from one place to another. She opened Beni Boo Styles around six years ago, and said she’s watched businesses all around her close ever since. Small enterprises employ between 6 and 20 persons and have an annual turnover of … If you use a national reference such as "American" or "French," you must show you're dealing in goods from the relevant country. With adequate financing, competent manpower, and creating effective marketing structures, you will be able to obtain good returns on these investment ideas in Jamaica. Jamaica isn't known for business efficiency, and it may take a while to close a deal. Sole Trader; This is known in Jamaica as the one-man shop. Businesses for sale in Jamaica can be found in parishes such as Kingston, St Catherine, Clarendon, Manchester, St Elizabeth, Westmoreland, St James, St Ann and others. Tourism Agency. All our products are about our unwavering belief in your ability to boost your small business. JNSBL believes fully in the spirit and innovativeness of Jamaicans and is committed to delivering affordable and timely credit to assist entrepreneurs, with limited access to credit from traditional banking sources, to … Agriculture plays an important part in the economy of Jamaica, contributing substantially to the GDP of the economy. If launching your business requires working 60 hours a week for the next year, you won't have much energy left for exploring Jamaica. The Companies Office may require you to provide professional justification to show you're an actual doctor or pharmacist, for example. We use cookies to ensure that we give you the best experience on our website. Search our website to instantly connect with Businesses and Professionals in Jamaica. Supporting Small Businesses in Jamaica It has been said ad infinitum that it is important to support small businesses because they have a vital role to play in generating growth in the Jamaican economy. It has lovely beaches, exotic plant … Freelance Writing. Is starting a business in Jamaica just about an untapped opportunity, or are you gung-ho to embrace the Caribbean island lifestyle? Welcome! Incorporate local company or register business name at the Companies Office of Jamaica (COJ). Construction Loans. If you're going into importing or exporting, for example: Another factor to think about before you take the plunge is your lifestyle. If it's the latter, think carefully about how your business will affect your chance to enjoy your new life. The fee is currently $25,0000 Jamaican. Jamaica requires import licenses for certain products, including milk, plant parts used in perfumes or pharmaceuticals, sugar, cement, cranes, forklifts, most tractors and many types of guns. Tourism. The best business nowadays are owning an franchise of a decent organization, they are best on the grounds that set up and legitimate franchise frameworks have a demonstrated reputation, mark acknowledgment, amazing … Hi, I am Wellesley Gayle, founder & CEO of this little website, my-island-jamaica.com. Jamaica’s Business Name Act of 1934 makes it illegal to start a business without first registering it with Companies of Jamaica, which was formerly called the Office of the Registrar of Companies. 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