• Contact Us
  • Login
  • Get Listed Today
Posted on 09/30/2021 in Business

Starting a Business in Jamaica


Starting a Business in Jamaica

Starting a Business in Jamaica

 As in any other country, in Jamaica it is required  to complete a few steps  when starting a business. without them all being done, at any time your business can be considered illegal. The required steps are as follows:

Registration of the Business or Company

Acquire a National Insurance Scheme Number )NIS)

Acquire a Tax Registration Number (TRN)

Apply for  General Consumption Tax Registration (GCT)

Acquire a Tax Compliance Certificate (TCC)

Make Registration for Statutory Deductions

Registering a Business

The forms are available online at the above link: http://www.orcjamaica.com/docs/

The form required to be filled out for registering your business are:

Application for Registration By Sole Trader – BN1 Form

Application for Registration By Partnership – BN2 Form

Application for Registration By Corporation – BN3 Form


Registering a Company in Jamaica

You will need to do a name search by filling out the required forms. They are:

Companies Name Search

Name Reservation Form

After confirmation of the name you wish to be registered as your Company is available, you then fill out and submit the forms below. After which a Certificate of Incorporation is issued:

The Articles of Incorporation (Form 1A). The Articles must be stamped at the Taxpayer Audit & Assessment Department.

A Declaration of Compliance (Form 2). This Declaration should be made by an Attorney-at- law or Chartered Secretary engaged in the formation of the company or a Director or Secretary named in the Articles of Incorporation, stating that all the requirements of the Companies Act 2004 were adhered to when the Articles of Incorporation were being prepared. This document must be signed and sealed by a Justice of the Peace.

A Registered Office Notice (Form 17). Note that this document records the registered or legal address of the company.

Fees for the above registration of both Business or Company is available on the following site: http://www.orcjamaica.com/fees/

Getting a National Insurance Scheme Number (NIS)

Getting a NIS number is very easy. You need to apply for one by the Ministry of Labour and Social Security. On filling out the required document of:

Employer Business Registration Application (Form R1)

Certificate of Incorporation along with Articles and Memorandum of Association

Business Name Certificate

These forms can be had online at: www.mlss.gov.jm.

Getting a Tax Registration Number (TRN)

It is mandatory for all Jamaicans to have a TRN. However, for a business or a Company it is important you acquire a TRN for the kind of business endeavor you are embarking on. 

For an individual to apply for his or her TRN the required form and documents are needed. You need to fill out the Tax Registration Number Form for individual (FORM-1). You need to have your NIS – National Insurance Scheme Number as well, and your Business Name Registration Certificate or BNRC. This you would have gotten on registration of your business at the Companies Office of Jamaica. The TRN here being applied for is classified as for a Sole Proprietor. 

Getting a TRN as a Partnership

Get and fill out the Tax Registration (Organization) Form-2. This MUST be signed by your business partner as well. 

Submit your Business Name Registration Certificate or BRNC

Verification Information of you Registered NIS 

Submit also individual NIS and TRN numbers for both you and your partner

Submit a valid ID 

Getting a TRN for a Local Company

Required Documents:

Application for Taxpayer Registration (Organization) – FORM 2 signed by a Director or the Company Secretary Certificate of Incorporation

Articles and Memorandum of Association (for companies registered before February 1, 2005)

Articles of Incorporation (for companies registered after February 1, 2005)

Verification of NIS Registration (NIS Letter or Payment Card)

Individual TRN for each Director

Valid ID for Signatory Officer


Getting a TRN for Company overseas with Employees in Jamaica

Required Documents:

Application for Taxpayer Registration (Organizations) – FORM 2 signed by an Authorized Officer or the Local Representative

Notarized copies of Registration or Charter Documents (if the company is not registered in Jamaica)

Letter of Registration from the Companies Office of Jamaica (COJ) if the company is registered in Jamaica

Verification of NIS Registration (NIS Letter or Payment Card) if the company has employees in Jamaica

Form 19 or 31 (issued by COJ) stating Local Representative if the company is registered locally

TRN for the Local Representative or Directors

Valid ID for Signatory Officer


Getting a General Consumption Tax Registration (GCT)

To apply for a GCT registration you have to do this at the Jamaican Inland Revenue Department or the Tax Administration & Assessment Department. These offices are located island wide; main offices and sub offices. You will also need you Business Registration Certificate or your Certificate of Incprporation as well as you Business or Company TRN.

How to Apply for a TCC Certificate in Jamaica

An application is to be submitted to the Tax Administration Services Department (TASD).

Required Documents:

Application for Tax Compliance Certificate Form

Certificate of Incorporation

TRN

Tax Receipts for Corporate Income Tax, PAYE, NHT, HEART, Education Tax, General Consumption Tax, NIS, and SCT

Clearance Letters from GCT, HEART Trust, Inland Revenue Dept, NIS, and NHT

TCC Applications may be submitted in office, online, via email or fax.


Making Registration for Statutory Deductions

All Businesses and Companies are required to make statutory deductions and make payment to the relevant Government bodies. This is the law of Jamaica; since 2017 in the Governments Budget Debate presentation to Parliament is as follows. “Under this $1.5-million threshold that this government has instituted, 397,083 persons, almost 400,000 persons of that entire PAYE cohort of taxpayers, will now be exempt from paying taxes, because they are now completely below the $1.5-million tax threshold,” Mr. Shaw said. Mr. Shaw was the then Minister of Finance. 

The other statutory deductions remain as follows; Education Tax, National Insurance Scheme and National Housing Trust. It is also important to note; Self-Employed individuals are required to make these deductions payable to the government whether, yearly, quarterly or half yearly. If you do not understand under which category you fall within your deductable payments, it is important you make enquiries at the Government Tax Administration & Assessment Office. 

*Please note: The above information was gotten from the Website of: https://www.jmea.org*




Find Local Businesses