Starting A Business
Before registering a company, it is important to first determine the legal structure which would best suit the nature and size of the business you will be operating. There are two basic structures to choose between:
- A Company – a commercial enterprise registered or incorporated under the Companies Act.
- A Business – a sole trader or partnership registered under the Business Names Act. This structure is a much cheaper and simpler form of registration which is more appropriate to small business enterprises. Please check the Companies Office of Jamaica website for more information at http://www.orcjamaica.com/services/. You may also visit their office at 1 Grenada Way, Kingston 5.
REGISTERING YOUR BUSINESS:
- Select a name for your business that has never been used by any other company in Jamaica before.
- Complete and submit a ‘Companies Name Search and Name Reservation Form’ to the Companies Office of Jamaica to confirm name availability. This form is available online – FORM 6 at: http://www.orcjamaica.com/docs/
- “Register the business with the Companies Office of Jamaica (COJ) using the “Super Form” – (BRF 1) available online at www.orcjamaica.com
- Write out the Articles of Incorporation for the Business which sets out among other things, the core business of the company and the internal rules governing the company. Check the Companies Office Jamaica for details on what this document should contain before submission or consult a commercial lawyer: http://www.orcjamaica.com/services/local.asp
- The Articles must be stamped at the Stamp Duty and Transfer Tax Department (111 Harbour Street, Kingston)
- Submit a Declaration of Compliance stating that the requirements of the Act were adhered to in forming the company. To find out more about the Companies Office of Jamaica’s compliance requirements check: http://www.orcjamaica.com/compliance/
- Submit a Registered Office Notice which states the legal address of the company
- Obtain a National Insurance Scheme reference number for your business from the Ministry of Labour’s Registration Department at 18 Ripon Road, Kingston 5
- Apply through Tax Administration Jamaica for additional TRN numbers if required, upon receipt of the Certificate of Incorporation. The office is located at 12 Ocean Boulevard, Kingston. Check their website for additional information at www.jamaicatax-online.gov.jm