Sole proprietor If you operate your business as a sole proprietor, you will need to submit a completed BN1 form. If you are selling tangible property, you must provide proof of residential address and a NRT, you must also submit 3 passport photos signed by a justice of the peace. Registering as a sole proprietor costs JA$2,000.00. Companies of Jamaica 1 Grenada Way Kingston (876) 908-4419-26 Telephone (876) 960-7152 Fax www.orcjamaica.com [email protected] Tax Compliance Certificate Unit 12 Ocean Blvd. Kingston Mall Kingston (876) 967-0212 Telephone (876) 967-0093 Toll-free: 1-800-Tax-HELP 222.jrs.gov.jm [email protected] cwjamaica.com Cooperative A cooperative must have at least 10 people. If you wish to set up a cooperative, you must register with the Department of Cooperatives and Friendly Societies. To register, you must specify the following: The Jamaica Companies Office (COJ) registers local and foreign companies, as well as individuals and companies doing business in Jamaica. It actively promotes voluntary compliance by companies with the Companies Act 2004, the Companies (Amendment) Act 2013 and the Registration of Business Names Act 1934 and maintains the registers of all registered companies and companies. Their mission is to facilitate business operations in Jamaica by providing effective and efficient registration systems that promote business regulation and provide accurate information to all stakeholders. So, if you follow these steps carefully, you will be a proud owner of your business within a few weeks. If you have any other doubts, you can contact the nearest local tax office. If your business deals with agricultural products, animals or textiles, there are additional requirements.
For example, you may need to get the following: Here are the names, addresses, and other contact information of the agencies responsible for various parts of the business registration process: There are a number of simple legal steps that must be followed by Jamaicans if you are interested in registering a business. Under the Trade Name Act 1934, it is illegal to set up a business in Jamaica without registering the business in the books of Jamaican companies. A company structured as a company must submit the following: STEP 1: There are different types of companies – sole proprietorships, partnerships, companies or cooperatives. You need to decide what type of business you want to start. This will make the next steps very clear. If necessary, you must obtain the appropriate copyright patents from the Jamaican Intellectual Property Office. After that, you can register with the National Housing Trust (NHT) and apply for a Tax Compliance Certificate (TCC). There are also other legal requirements associated with any type of business structure. Partnerships can legally exist with only 2 people or up to 20 people.
If you want to register your business as a partnership, you must file the following documents: STEP 4: After receiving the NRT and NIS, register with the Tax Department to get permission to make various legal tax deductions such as income tax, education tax, and general consumption tax. However, before you register with Companies of Jamaica, you need to decide what kind of legal structure your business will have. Your options include sole proprietorship, partnership, corporation or co-operative. Once you have decided, you can create a name for your business and apply for two very important numbers: the Taxpayer Registration Number (NRT) and the National Insurance Scheme Reference Number (NIS). Applications for these two numbers require: Opt for a legal structure and a name for your business or business, as this will determine which registration forms you need to complete. Once you have decided, you can do a name search and if you wish, reserve the name for up to ninety (90) days. For export and import companies, the registration process requires the following: Let`s go through the simple steps for a beginner to register a legal business in Jamaica: If you are interested in starting a business in Jamaica, there are a number of legal requirements that must be followed. Jamaica`s Trade Names Act of 1934 makes it illegal to set up a business without first registering it with the Companies of Jamaica, formerly known as the Office of the Registrar of Companies. STEP 2: After deciding what type of business you want, the company name should be created and finalized. This should be done before registering with Jamaican companies.
The Companies of Jamaica Office Details: Address: 1 Grenada Way, Kingston Contact: (876) 908-4419-26Email: [email protected]Official website: www.orcjamaica.com Once you have your TRN and NIS numbers, you can proceed to the next step, which is to register with the Department of Internal Taxes to get permission to make various legal tax deductions. such as: Headquarters 1 Grenada Way, Kingston 5 Tel: 1 (876) 908-4419/26 Email: custsupport@orcjamaica.com Monday – Wednesday: 8:30 a.m. – 3:30 p.m. Thursday – Friday: 8:30 a.m. – 3:00 p.m. Montego Bay – Branch 10 Delisser Drive, (Prime Minister`s Office) Tel.: 1 (876) 276-9558/940-4572/940-5742 Monday – Thursday: 9:00 a.m. – 3:30 p.m. Friday: 9:00 a.m. – 3:00 p.m. The cost of registering your business is shown below depending on the type of service that you are requesting, i.e. the speed at which your application should be processed. There are several benefits associated with registering your business or business.
Your business will be posted on the Companies of Jamaica website. It will be posted on the website only one week after registration. Plus, you`ll have access to loans and grants, be able to secure government and other contracts, and earn the trust of your customers knowing they`re dealing with a legal and registered entity. There are different procedures and costs for different types of businesses: Jamaica Intellectual Property Office 36 Trafalgar Road Kingston 5 (876) 92904876 (876) 960-1852 www.jipo.gov.jm STEP 7: Apply for a Tax Compliance Certificate (TCC). You should receive a letter of approval from the National Insurance Bureau (NIS), the NHT office, along with the company name certificate. This certification is valid for three years from the date of registration. STEP 3: Apply for two mandatory numbers – the Tax Registration Number (NRT) and the National Insurance Scheme Reference Number (NIS). These numbers require two types of documents:1.
Two passport photos with the signature of a justice of the peace.2. A photocopy of your birth certificate. The TRN office details:Address: Kingston Mall, 12 Ocean Blvd, Kingston Contact: (876) 922-7429 Jamaica Promotions Corporation (JAMPRO) 18 Trafalgar Square Kingston 10 (876) 978-7755 (876) 978-3337 www.jexporter.com In Jamaica, there are two basic structures to choose from: In addition, companies must file Form 20, which indicates the board of directors, by which at the time of registration or 14 days after registration for $4,000, However, forms submitted after the 14-day deadline will cost $6,000. The registration fee for a partnership is JA$2,000.00 Kingston Mall 12 Ocean Blvd Office. Kingston (876) 922-7429 Telephone (876) 922-3913 Telephone (876) 922-7110 Fax You can also obtain information about the NRT by contacting your local National Housing Trust 4 Park Blvd. Kingston 5 (876) 929-6500 Telephone (876) 929-6627 Telephone (876) 960-9995 Fax www.nht.gov.jm [email protected] There is also an additional fee of $500 JMD if documents need to be stamped to the COJ. Form 1A must be stamped at the stamp office and the transfer tax department at 111 Harbour Street in Kingston. The cost of the stamp is $500. A valid original government-issued ID card of the lead administrator and/or the person declaring the accuracy of the forms must be presented to the companies office.
In addition, you may impose new requirements on other licenses and/or inspections by relevant government agencies, such as . B Office of Standards. Some industries are also required to submit an environmental impact assessment. To reserve a name that you can then use for registration, you need to follow the steps below. The name search indicates the availability of the name you have selected for booking and whether it complies with the laws of the country. A company name certification is valid for three years from the date of registration. STEP 8: You must request other inspections such as the Bureau of Standards and the Environmental Impact Assessment. These forms must be signed by the director(s) and/or the person declaring the accuracy of the information provided on the form. You should also be aware that there are additional costs associated with registration: after submission, your documents will be checked to ensure that they are filled in correctly and that the information provided is verified. If the documents are in order, a certificate of incorporation will be issued. When creating a cooperative, you must also form a steering committee from the ranks of the members. A steering committee should be composed of an odd number of members, e.B.
5, 7 or 9 members. .
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