Service of Company Registration in Jamaica Part Two
These services also provide information, such as the benefits and disadvantages of the process. For example:
Benefits of Jamaica Company Registration
It can be registered as a limited liability company in Jamaica, counting only with one director and one shareholder both can be of any nationality and can be individuals or corporate entities. Also, in Jamaica, the minimum capital required is USD 1.
Foreign entrepreneurs can create 100% foreign-owned companies in Jamaica, owning property and shares of other Jamaican businesses, and also be capable of importation and exportation of goods and services without any further restriction than those that apply to locals.
Jamaica signed double taxation avoidance treaties with other 12 countries among which are Canada, Israel, Sweden, China, and others.
Getting electricity for new companies is expensive and consumes a lot of time. Usually, investors need to wait even around three months for it to be installed.
Jamaica is a member of the Caribbean Common Market, which implies that some imported goods from non-member countries are subjected to a tariff, resulting in challenges for entrepreneurs that want to establish trading relationship with non-CARICOM nations.
The agencies for registration and formation of companies in Jamaica provide various services and information to guide their clients along the process and what are their best options at a time, not only doing the procedure of registering the company.