Incentives for Investing in Jamaica

Introduction  to Jamaica

Jamaica offers the investor a wide range of advantages, which include: · special tax policies; · government programmes that support private enterprises; · infrastructure that compares favourably with larger developed nations; · low establishment, production and operational costs; · strategic position on the major shipping lines to North and Central America, Europe and Asia; and · a high level of productivity and preferential access to many of the world’s markets. When these advantages are combined with the business development services offered by the Jamaica Promotions Corporation (JAMPRO), the opportunity for a business venture may be realized. Therefore, for the local or foreign investor,  the prospect of operating a business in Jamaica can be quite promising. A range of business opportunities is open to the prospective investor seeking to conduct business in Jamaica . These options include: · sole proprietorships · partnerships · private companies limited by shares · private companies limited by guarantees (with or without share capital) · branches of foreign corporations Most investors find it more appropriate and desirable to establish companies with limited liability. In certain sectors, specifically banking and insurance, where licences are required, majority shareholding is preferred. Foreign investors  sometimes elect to operate as a branch of an overseas parent company, in which case, the name of the operation must  be registered with the Registrar of Companies as an ‘overseas company'and a place of business must be designated.