If you are interested in starting a business in Jamaica, there are a number of legal requirements that must be followed. Jamaica’s Business Name Act of 1934 makes it illegal to start a business without first registering it with Companies of Jamaica, which was formerly called the Office of the Registrar of Companies. There are several benefits associated with registering your company or business. Your business is shown on the website of the Companies of Jamaica. It will go up on the website just a week after you’ve registered it. Also, you will have access to loans and grants, be able to get government and other contracts, and inspire the confidence of your customers when they know they are dealing with a legal, registered entity. Before registering with Companies of Jamaica, however, you must decide upon the type of legal structure your business will have. Your options include sole trader, partnership, company, or co-operative. Once you’ve decided, you can then create a name for your business or company and request two very important numbers: the Taxpayer Registration Number (TRN) and the National Insurance Scheme (NIS) reference number.

The applications for both of these numbers require: Once you have your TRN and NIS numbers, you can take the next step, which is to register with the Inland Revenue Department to obtain permission to take various legal tax deductions, such as those for: If necessary, you will need to obtain the appropriate patents of copyrights 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).motorcycle shops valdosta ga In order to get a TCC, you must obtain a clearance letter from the National Insurance Scheme (NIS) office, the National Housing Trust (NHT) office, and provide your Business Name Certificate.honda motorcycle parts knoxville tn

In addition, you may new to comply with other licensing and/or inspections from the appropriate government agencies, such as the Bureau of Standards. Specific industries must also provide an Environmental Impact Assessment. There are also other legal requirements associated with each type of business structure. Sole TraderIf you operate your business as a sole trader, you must submit a completed BN1 form. If you are selling tangible goods, you must submit proof of residential address and a TRN , you must also submit 3 passport-size photographs signed by a Justice of the Peace. kawasaki lime green motorcycle jacketRegistration as a sole trader costs JA$2,000.00.lazer motorcycle helmets uk PartnershipPartnerships can legally exist with as few as 2 persons or as many as 20 persons. motorcycle shop in shawnee

If you want to register your business as a partnership, you must submit: The registration fee for a partnership is JA$2,000.00 CompanyA business structured as a company must submit: Form 1A must be stamped at the Stamp Office and Transfer Tax Department, which is located at 111 Harbour Street in Kingston. The cost for the stamp is $500. Registration fee for a company is JA$12,000. Additionally, companies must submit Form 20, which states the Board of Directors, with at the time of registration or 14 days after registration for $4,000, but forms submitted after the end of the 14-day period will cost $6,000.harley for sale aberdeen All forms must be signed by a Justice of the Peace. Co-operativeA co-operative must have a minimum of 10 persons. If you want to form a co-operative, you must register with the Department of Co-Operatives and Friendly Societies. To register, you must provide:

When forming a co-operative, you must also form a steering committee from among the members. A steering committee should comprise an odd number of members, e.g., 5, 7, or 9 members. Additionally, the committee must be trained in Co-operative Management. Training is conducted for a minimum of 10 hours at a cost of $900 per hour. If your business will be involved with agricultural products, animals, or textiles, there are some additional requirements. For example, you may have to get: For export and import businesses, the registration process requires the following: A Business Name Certification is valid for three years from the registration date. You should also be aware that there are some additional costs associated with registration: The following are the names, addresses, and other contact information of the agencies responsible for various portions of the business registration process: Tax Administrator Jamaica (For the latest tax information) For the Taxpayer Registration Number

TRN OfficeKingston Mall12 Ocean Blvd.Kingston(876) 922-7429 phone(876) 922-3913 phone(876) 922-7110 faxYou can also find out information about the TRN by contacting your local tax office For the Tax Compliance Certificate For National Insurance Scheme (NIS) registration National Insurance Scheme18 Ripon Rd.Kingston 5(876) 929-7144-6 phone For Income Tax and General Consumption Tax Inland Revenue Department1-3 King StreetKingston(876) 922-7919 phone(876) 922-5683 phone948-1413 faxwww.jrs.gov.jm For National Housing Trust registration National Housing Trust4 Park Blvd.Kingston 5(876) 929-6500 phone(876) 929-6627 phone(876) 960-9995 faxwww.nht.gov.jm[email protected] For Product Protection (including design) Jamaica Intellectual Property Office36 Trafalgar RoadKingston 5(876) 92904876(876) 960-1852www.jipo.gov.jm Scientific Research CouncilPO Box 350Old Hope RoadKingston 6(876) 927-1771-4 phone(876) 977-2190-1 phone(876) 927-1990 administration fax(876) 927-2194 R&D fax[email protected]