How To Register Small Business In Jamaica

Before going into business in jamaica it is important to determine the type of legal structure best suited to your needs.

How to register small business in jamaica. To register you must provide. 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. Here are some cases in which the companies office of jamaica may refuse your proposed business name. You can register your new venture as either a business or a company. A fee is attached to the name search and reservation.

If you have been thinking about starting your own business and didn t know where to start this tip thursday blog is for you as we focus on the steps needed to properly establish a business in jamaica. This allows for example individuals and firms to check your company documents or business name online and make sure you are a legal business in order to offer you credit or do business with you. The national identification card of each partner. The two basic options to choose from are. A completed bn2 form.

There are several advantages to registering your business. The establishment of new businesses means job creation which then leads to more people having disposable income and buying power. How to register your business in jamaica here s what you ll need. Registering a company in jamaica the registration of business names act in jamaica requires your new business file paperwork with the government s companies office of jamaica. The registration fee for a partnership is ja 2 000 00.

A letter that requests registration to form a co operative business statement of the nature of the business. If you want to register your business as a partnership you must submit. If you want to form a co operative you must register with the department of co operatives and friendly societies. A co operative must have a minimum of 10 persons. Once steps 1 4 are complete it s time to register your business with the companies office of jamaica and the tax administration jamaica.

Firstly for both legal structures you have to complete and submit a companies name search and name reservation form. A business in jamaica is a sole proprietorship a sole trader in jamaican terms or a partnership. These are statutory obligations. Proof of residential address and trn are required for the applicant. Step 5 business registration.