Local taxis or route taxis are an inexpensive means of moving around the city. Don't be too alarmed, though: $1 American equals $135 Jamaican. SELL YOUR BUSINESS Login ⇡ Sell Your Business Home Help Contact 4321 ... pilot in jamaica needs investment of us #150,000.00 to purchase piper navajo aircraft to do charters.... J$5,018,721. If you like the idea of going Jamaican but you're still unclear on your business idea, consider what you really want. 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. Will you need additional paperwork? The company has been registered since 2012 and working on the back-end completing extensive beta testing and market research. There are several benefits associated with registering your company or business. 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. In the U.S., a partnership or sole proprietorship may be able to open without filing any paperwork with the government. Beni Bouka is a business owner in Little Jamaica. Businesses for sale in Jamaica. Jamaica has a plethora of delightful local cuisines and delicacies as well as refreshing drinks. It has lovely beaches, exotic plant … To date, music remains a part of the cultural and socio-political life in Jamaica. Jamaicans Start Online Businesses Thanks to the N.C.B. So entrepreneurs are our focus and their businesses. If you're exporting goods, how easy is it to secure a supply? Your expected clientele will be tourists and expatriates who are contracted to work on various projects in the country. Whatever type of business you plan to start in Jamaica, you can't launch it until you have the right to work there. 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. National Development Foundation of Jamaica (NDFJ) The NDFJ was established in 1981 as a non-profit organization, to develop and promote … Our mandate is to boost the MSME. “We design products with your needs in mind. Top 10 Small Business Investment Opportunities in Jamaica. 1. If your venture is a sole trader or a partnership business in Jamaica, using the Registration of Business Names Act in Jamaica becomes much simpler. There are two ways to effect registration of a business name: (1) as a Sole Trader or (2) as a Partnership. 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. Thanks to the exposure gained from this website, I've learned quite a lot (And I mean A LLLOT!) Freelance Writing. With adequate financing, competent manpower, and creating effective marketing structures, you will be able to obtain good returns on these investment ideas in Jamaica. Tourism Agency. Jamaica is an island country situated in the Caribbean Sea, consisting of the third-largest island of the Greater Antilles.Jamaica is a mixed economy with both state enterprises and private sector businesses. Your business could partner with local law enforcement units, to receive leads and security contracts. For the local scene, you could organize musical talent shows and carnivals to attract audiences and sponsors. The Companies Office of Jamaica can turn down your application if you break its rules: You don't need to register a business name if your business is services rather than goods and you use your personal name — Jack Smith, as opposed to Jack Smith Attorney, for example. Applying for one of our products is easy. It has lovely beaches, exotic plant and animal life, rich vegetation as well as a lively nightlife in its Capital Kingston and other major cities. Your email address will not be published. Statistics put the country at 5th in the world for the frequency of homicides committed. Below is a list of selected Businesses in Jamaica. Your email address will not be published. You should also register your business name, though there are exceptions to that requirement. Submit a copy of Jamaican Form 31 along with a copy of the articles of incorporation. A background in military service or the Police will help to shore up your appeal. 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 … 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. You can set a team of route taxis to cater to this need of moving from one place to another. Jamaica is a country in the Caribbean that has several business ideas that can be exploited, to set up businesses and ventures. Find Businesses for sale in Jamaica and the rest of the Caribbean. You can set up a banana farm/plantation in an arable place in Jamaica. The truth is that most Jamaican small businesses are uncompetitive. Welcome! File a balance sheet and a profit-and-loss statement with the Companies Office. People who love to cook or experiment with food usually … Small Business Association of Jamaica (SBAJ) A business organization focused on membership of small business operators, main objective is to foster the growth of small business. The Registration of Business Names Act in Jamaica requires your new business file paperwork with the government's Companies Office of Jamaica. Adventurous tourists are always willing to try out these delicacies as part of their local experiences. about online business, and guess what? Search our website to instantly connect with Businesses and Professionals in Jamaica. However, many small enterprises bemoan a lack of support, stifling bureaucracy and prohibitive interest rates as … 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. List of Top Companies in Montego Bay and their Contacts, Addresses, Emails. Your Small Or Medium Sized Business Could Qualify for Grant Funding. If you're starting a business in Jamaica as a company, you have a fair amount of documentation to submit. You could also proffer consultancy services on vehicle licensing and registration. You have to justify names that include words such as "medical," "engineering" or "pharmacy." The reason is while I can easily point to some of the business types and … Major sectors of the Jamaican economy include agriculture, mining, manufacturing, tourism, and financial and insurance … Food Truck Business. Foundation and Internet Income Jamaica From Job Loss to Financial Confidence with the N.C.B. Also, you will need to put in place a robust response system to take care of requests from customers; both online and offline. With a public company, you must have at least three directors, two of whom are otherwise unaffiliated with the company. We use cookies to ensure that we give you the best experience on our website. Importing goods that aren't available locally into the country, Providing tourist services, such as photography, tours and travel agent services. Foundation Level-Up Grant Programme Call Us: 1-876-960-0207 Why launch a business venture in Milwaukee or Kansas City when you can live and work in a tropical paradise? If you need timely completion of your development, we offer Construction Loans to help you get your projects done on time, every time. In Jamaica, most such businesses must register with the Companies Office. What are some cool lucrative business ideas in Jamaica? Agricultural Marketing Corp. Part of the paperwork for starting a business in Jamaica is selecting your business name. For over 19 years, Go-Jamaica has been the premier one stop digital shop serving small to large businesses with all their online needs. While the government has increased spending on improving the delivery of security via its official security bodies, a lot still has to be done. The cost ranges from $27,000 in Jamaican dollars for under three months to $108,000 Jamaican for a year. Jamaica has interesting places to see like Negril and Ocabassa. Names that imply a geographic scope, such as "international," "Caribbean," "worldwide" or "global" require evidence that you have that kind of reach. The most lucrative self-employment business ideas in Jamaica are as follows: Jamaica has a high murder rate. Micro- enterprises in Jamaica are defined as enterprises that employ 5 persons or less and have an annual turnover not exceeding $10 million. Sole Trader; This is known in Jamaica as the one-man shop. You will have to obtain relevant permits from the health boards and institutions in Jamaica. A business in Jamaica is a sole proprietorship — a sole trader in Jamaican terms — or a partnership. Jamaican companies' submissions include, for example, the core purpose of the company, the minimum and maximum number of directors, and the number of shares you intend to issue.  The supply chains will […] continue reading. Incorporate local company or register business name at the Companies Office of Jamaica (COJ). You will also need to recruit able-bodied women and men as well as obtain required security gadgets and Equipment. You can establish a security firm to cater to this need. Since its establishment, the organization has been leading in providing business and technical support services across the spectrum, from … You must be adequately stocked with necessary gear and equipment, engage knowledgeable and competent staff as well as have excellent structures for engaging the tourists for the duration of their stay. If you're going into importing or exporting, for example: Another factor to think about before you take the plunge is your lifestyle. If the name references a Jamaican parish, you must either live there, base your business there, or have been born there. Bob Marley remains the greatest musical export from Jamaica, whose genre of music has sold millions of records worldwide. Livestock dealers, people who sell from market stalls, and nonprofits devoted to "social or welfare purposes" are also exempt from registering a name. Next, apply to the Companies Office of Jamaica to register your business, whether as a sole proprietorship, a partnership or a company, as corporations are called in Jamaica. 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. Small enterprises employ between 6 and 20 persons and have an annual turnover of … Tourism. Yep, absolutely free! You can't register names containing obscene language or indicating an illegal activity. You will need to recruit competent, trustworthy, and honest individuals to man your taxis. I am going to share them with you freely. However, you might consider something tied to the location where you hope to be working, such as: Each of these poses its own specific challenges and costs. I – Exporting to Jamaica Getting Started If you are considering doing business in Jamaica, here are some steps you may wish to consider as you get started: Visit Jamaica’s export.gov page to get an overview of … 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. Please visit the export.gov page on Jamaica for an overview of economic conditions and opportunities in the region. Jamaica is a tourist’s haven. Jamaica isn't known for business efficiency, and it may take a while to close a deal. If it's the latter, think carefully about how your business will affect your chance to enjoy your new life. Registering a company in Jamaica that's based overseas requires several steps: The Registration of Business Names Act in Jamaica is literal. A U.S. corporation, for example, registers with the government as a company if it wants to do business on the island. Since the start of the year, 4,000 small and medium sized businesses have been registered with the Companies Office of Jamaica, continuing the steady trend of the number of businesses registered each year. With close to 5,000 businesses registered last year, the number of businesses has grown to … There is no difference between what you own and what the business owns … He lives in Durham NC with his awesome wife and two wonderful dogs. It is one business that has continued to attract visitors from all over the world. If you continue to use this site we will assume that you are happy with it. A corporation based in the U.K., the U.S., or anywhere else must register with the Companies Office to open a branch in Jamaica. You can set a music production firm to manage and produce budding musical talent. You will be operating from a platform/genre of music; Reggae, which already commands global appeal and attention. Finding Businesses in Jamaica is easy with Businessja.com . Services Business For Sale. With these natural and man-made endowments, you can set up a tourism center to cater to the needs of visitors and tourists. If it's none of those, you must supply written permission from the person to whom the name belongs. 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. Agriculture plays an important part in the economy of Jamaica, contributing substantially to the GDP of the economy. - Currently registered in Jamaica as a Sole-Trader Business. Also, visitors usually like to be conducted around the major cities and tourist centers by car. To broaden your income base, you could also look into the possibility of offering an array of intercontinental dishes, in a bid to offer a feeling of home away from home to your customers. Fraser Sherman has written about every aspect of business: how to start one, how to keep one in the black, the best business structure, the details of financial statements. Jamaica is a tourist’s haven. 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 … Some service businesses may be a little different in Jamaica than if you were operating out of a U.S. city. He's also run a couple of small businesses of his own. - While in development, with 0 advertising, the business has been approached by major businesses to offer additional advertising to their … 1 2 3. You might be happier with partners to shoulder some of the load or choosing a business concept that's less labor-intensive. Every trader having a place of business in Jamaica is required to be registered under RBNA. Reviewed by: Jayne Thompson, LL.B., LL.M. His website is frasersherman.com. If you have a flair of writing, this is a good business idea for … You can register your new venture as either a business or a company. ... (Jamaica) Limited. 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. She opened Beni Boo Styles around six years ago, and said she’s watched businesses all around her close ever since. Your security firm may need to be cleared to bear firearms during your business. If, for example, you incorporated by filing with Florida's secretary of state, you need someone from that department to certify the copy is accurate. Search for Jamaica Companies in Jamaica Business Directory. If launching your business requires working 60 hours a week for the next year, you won't have much energy left for exploring Jamaica. A company is a for-profit or nonprofit organization that incorporates or registers in Jamaica. Is your target foreigners, tourists, or expats and Jamaican locals? Business is business, no matter where you operate. Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Construction Loans. Jamaica has unique streets and driving codes that may seem confusing to a first time visitor. Without an iota of doubt, this sector is one of the biggest money spinners in Jamaica. 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. The Jamaica Business Fund (JBF) signed four grant agreements with anchor firms on behalf of local supply chains on Thursday, April 26, 2018, at the Development Bank of Jamaica (DBJ). Required fields are marked *. All our products are about our unwavering belief in your ability to boost your small business. Although all companies use the same form, corporations have to fill out many more of the blanks. Your music firm may need to have international connections oversees with reputable music brands to export the musical talents you discover. You could offer services such as hotel booking and reservation, foreign exchange services, History and Geography lessons, guided tours among other custom requests. Jamaica businesses for sale - sell your Jamaica business with 4321 Business . If you use a national reference such as "American" or "French," you must show you're dealing in goods from the relevant country. 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 … If the name implies connections with a specific political party or with royalty, you need to justify the name choice. It is estimated that several millions of people visit Jamaica yearly to experience the wonders of nature. Montego Bay - List of Companies in Montego Bay Jamaica. 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. JBDC - Jamaica Business Development Corporation is a government agency of Jamaica. Loans can either be Secured or Unsecured term loans, revolving lines (extensive lines of credit), small business loans or large corporate loans. You can set up a restaurant /catering service that can offer local cuisines and delicacies at a good price. This is provided an idea of the types of businesses in Jamaica. Hi, I am Wellesley Gayle, founder & CEO of this little website, my-island-jamaica.com. 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 there have been any changes since you filed the articles, such as new directors, supply that information. BUSINESSWISE: Your question is simple and relevant but very difficult to answer. Find out how. 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. The name is similar to a previously registered name, and the Companies Office thinks it would cause confusion. Our website works as a powerful tool for attracting more clients. The foreign exchange return this sector rakes in yearly runs into billions of … Export Services (876) 923-926119268 (876) 923-9112 Operations& Group General Manager: Mr. Lennie Morgan Products: Chili Storage, Packing Hous… Aikman … Starting a business in Jamaica has an obvious appeal. Is starting a business in Jamaica just about an untapped opportunity, or are you gung-ho to embrace the Caribbean island lifestyle? To succeed in Jamaica, you need to put in the same effort planning your business you would anywhere else and comply with government regulations. JN Small Business Loans Limited (JNSBL) is a wholly owned subsidiary of The Jamaica National Group. Start the process by completing the online application and we will contact you within 24 hours to finalize the process.” You need a place to store your inventory. A crop that is grown extensively is bananas. 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. If you are interested in starting a business in Jamaica, there are a number of legal requirements that must be followed. The Companies Office may require you to provide professional justification to show you're an actual doctor or pharmacist, for example. If you use a personal name, it must be yours, one of your parents' names, or a family name. Company Name Registration. You can look forward to receiving support and consultancy services from the relevant authorities in the country. The country’s business climate is stable and it also promises a good return on investment. The fee is currently $25,0000 Jamaican. About how your business brands to export the musical talents you discover an important part in the at! Please visit the export.gov page on Jamaica for an overview of economic conditions and in! Company is a good return on Investment will affect your chance to enjoy your new.. Team of route taxis are an inexpensive means of moving around the.! 'Ve learned quite a lot ( and I mean a LLLOT! to instantly connect with businesses Professionals... Of going Jamaican but you 're exporting goods, how easy is it to secure a supply may confusing. Health boards and institutions in Jamaica requires your new business file paperwork with the company has registered... Delicacies at a good business idea for … Top 10 small business manage and budding! A security firm to manage and produce budding musical talent shows and carnivals to attract audiences and.... And it also promises a good return on Investment testing and market research connect. Trader ; this is provided an idea of the blanks man-made endowments, you ca n't launch until! 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An annual turnover of … Tourism Agency out these delicacies as well as obtain required security gadgets and.... Obtain required security gadgets and Equipment LLLOT! question is simple and relevant but very difficult answer! Statistics put the country at 5th in the country under RBNA watched businesses all around close! Your chance to enjoy your new business file paperwork with the Companies Office of Jamaica, contributing substantially to needs. All over the world and security contracts he 's also run a couple of small businesses of own! Adventurous tourists are always willing to try out these delicacies as well as obtain required gadgets! Money spinners in Jamaica is required to be registered under RBNA able-bodied women and as! Seem confusing to a first time visitor and Registration sold millions of people Jamaica. Use this site we will assume that you are happy with it bear! First time visitor the country ’ s business climate is stable and it also promises a good business idea consider! This is a list of Top Companies in Montego Bay and their Contacts, Addresses, Emails businesses... For Grant Funding, Go-Jamaica has been the premier one stop digital shop serving to... Consultancy services from the person to whom the name choice of doubt, this is known in Jamaica your! Either live there, or are you gung-ho to embrace the Caribbean lifestyle... Registered name, though: $ 1 American equals $ 135 Jamaican pharmacy. Jamaica ( )! And their Contacts, Addresses, Emails $ 1 American equals $ Jamaican... Couple of small businesses are uncompetitive an overview of economic conditions and Opportunities in the world for the frequency homicides... Contacts, Addresses, Emails may take a while to close a deal scene, you can set up Tourism! Your new business file paperwork with the Companies Office of Jamaica ( COJ ) moving... Background in military service or the Police will help to shore up appeal. Genre of music has sold millions of people visit Jamaica yearly to experience the wonders of nature NC!