Doing Business with Jamaica

A comprehensive guide to doing business, exporting, investing, and manufacturing in Jamaica.

Foreign Direct Investment with the International Trade Council / Company Incorporation / Company Formation

Albanian Investment Development Agency

Tel: +355 42 251 001
Email: info@aida.gov.al
Web: www.aida.gov.al

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General Directorate of Customs

Albania General Directorate of Customs - International Trade Council

 

Tel: +355 42 253 820
Email: helpdesk.dpd@dogana.gov.al
Web: www.dogana.gov.al

National Chamber of Commerce

Albanian Chamber of Commerce and Industry

Albanian Chamber of Commerce and Industry - International Trade Council

Tel: +355 45 800 932
Email: cci.tirana@cci.al
Web: www.cci.al

Ministry of Economy Information from the International Trade Council - a Peak-body - international chamber of commerce

Ministry of Finance and Economy, Albania

  • Type of Government: Parliamentary Democracy and Constitutional Monarchy
  • Population: Approximately 3 million
  • GDP: Around $15 billion USD
  • Corporate Tax Rate: 25%
  • Personal Income Tax Rate: 25% on income over a certain threshold
  • Major Exports: Bauxite, alumina, sugar, bananas
  • Major Imports: Machinery, food, fuels, chemicals

 

Exporting to Jamaica involves several key steps. Here’s a comprehensive guide:

  1. Research Market Requirements

    • Understand Jamaica’s import regulations and standards for your product.
    • Check for any product-specific certifications needed.
  2. Identify Local Partners

    • Establish relationships with local distributors or agents in Jamaica.
  3. Prepare Export Documentation

    • Include commercial invoices, packing lists, and certificates of origin.
    • Ensure compliance with Jamaican labeling and packaging requirements.
  4. Arrange Logistics and Shipping

    • Choose a reliable shipping company experienced with exports to Jamaica.
    • Ensure accurate completion of shipping documents, such as bills of lading.
  5. Customs Declaration

    • Work with a customs broker to facilitate the clearance process.
    • Pay any necessary duties and taxes.
  6. Understand Duties and Taxes

    • Familiarize yourself with Jamaica’s import duties and applicable taxes.
  7. Distribution and Sales

    • Establish distribution channels within Jamaica.
    • Consider partnerships with local businesses for effective market penetration.

Key Contacts

  • Jamaica Promotions Corporation (JAMPRO)
  • Jamaica Customs Agency

Importing goods into Jamaica involves several steps. Here’s a comprehensive guide:

  1. Register as an Importer

    • Obtain a Taxpayer Registration Number (TRN) from the Tax Administration Jamaica.
    • Register your business with the Companies Office of Jamaica.
  2. Classify Your Goods

    • Determine the correct Harmonized System (HS) code for your products to identify applicable duties and taxes.
  3. Check Import Regulations

    • Ensure compliance with Jamaica’s import regulations and any necessary permits or certifications for specific products.
  4. Find a Reliable Supplier

    • Establish a relationship with a trustworthy overseas supplier.
  5. Arrange Shipping and Logistics

    • Choose a reliable freight forwarder.
    • Ensure all shipping documents are in order, including the bill of lading and commercial invoice.
  6. Customs Declaration

    • Submit an import declaration through the Automated System for Customs Data (ASYCUDA).
    • Work with a customs broker if necessary.
  7. Pay Duties and Taxes

    • Calculate and pay applicable import duties and General Consumption Tax (GCT).
  8. Receive Your Goods

    • Arrange for the transportation of goods from the port to your warehouse or distribution center.

Key Contacts

Incorporating a company in Jamaica involves several steps. Here’s a comprehensive guide:

  1. Choose a Company Name

    • Ensure the name is unique and complies with Jamaican naming regulations.
    • Check availability with the Companies Office of Jamaica.
  2. Prepare Incorporation Documents

    • Draft the Articles of Incorporation outlining the company’s structure and operations.
  3. Submit Documents to the Companies Office

    • Submit the Articles of Incorporation and a completed Form 1 (Business Registration Form).
  4. Pay the Registration Fee

    • Fees vary based on the company type. For a private company, it generally starts around JMD 24,000.
  5. Obtain a Taxpayer Registration Number (TRN)

    • Register for a TRN with the Tax Administration Jamaica for tax obligations.
  6. Register for Statutory Obligations

    • Register with the National Insurance Scheme (NIS) and the National Housing Trust (NHT) for employee contributions.
  7. Open a Business Bank Account

    • Use your incorporation documents and TRN to open a local business bank account.
  8. Comply with Legal Obligations

    • Maintain accurate financial records and file annual returns with the Companies Office.

Costs

  • Registration Fee: Approximately JMD 24,000 for a private company.
  • Additional Fees: May apply for legal assistance and document preparation.

Key Contacts

Setting up a manufacturing plant in Jamaica involves several steps. Here’s a comprehensive guide:

  1. Conduct Market Research

    • Analyze demand, competition, and location advantages in Jamaica.
  2. Choose a Suitable Location

    • Consider proximity to raw materials, transportation links, and workforce availability.
    • Check zoning regulations and obtain necessary permits from local authorities.
  3. Incorporate Your Company

    • Register your business with the Companies Office of Jamaica.
  4. Obtain Necessary Permits and Licenses

    • Apply for construction permits from the local municipality.
    • Secure environmental and safety permits if required.
  5. Secure Financing

    • Explore options through banks, venture capital, or investment partners.
  6. Design and Construct the Facility

    • Hire architects and contractors for design and construction.
    • Ensure compliance with local building codes and safety regulations.
  7. Install Equipment and Machinery

    • Purchase and set up machinery necessary for production.
    • Ensure safety and operational standards are met.
  8. Hire and Train Workforce

    • Recruit skilled labor and provide necessary training.
  9. Set Up Supply Chain and Distribution

    • Establish relationships with suppliers and distributors.
  10. Begin Operations

    • Start production and monitor operations for efficiency and quality control.

Key Contacts

Registering a trademark in Jamaica involves several steps. Here’s a comprehensive guide:

  1. Conduct a Trademark Search

    • Ensure your trademark is unique and not already registered. Use the Jamaica Intellectual Property Office (JIPO) database.
  2. Prepare Your Application

    • Include details such as the trademark design, classification of goods/services, and applicant information.
  3. Submit the Application

    • File your application online or in person at the Jamaica Intellectual Property Office (JIPO).
  4. Pay the Application Fee

    • The fee is approximately JMD 7,800 for one class. Additional fees apply for extra classes.
  5. Examination Process

    • JIPO examines the application for compliance and potential conflicts. Respond to any objections or requests for additional information.
  6. Publication and Opposition

    • If approved, the trademark is published in the JIPO Gazette. A period of two months is provided for third parties to oppose the registration.
  7. Registration and Certification

    • If no oppositions arise, the trademark is registered. Receive the Certificate of Registration.
  8. Maintain and Renew the Trademark

    • Trademarks are valid for 10 years and can be renewed indefinitely. Submit renewal applications to maintain protection.

Costs

  • Application Fee: Approximately JMD 7,800 for one class.
  • Additional Fees: May apply for extra classes and legal assistance.

Key Contacts

  • Jamaica Intellectual Property Office (JIPO)

Resolving commercial disputes in Jamaica involves several steps. Here’s a guide on the process:

  1. Attempt Negotiation

    • Begin by negotiating directly with the other party to reach an amicable solution.
  2. Mediation

    • Engage a mediator to facilitate discussions. Mediation is often quicker and less formal than court proceedings.
  3. Arbitration

    • Consider arbitration for a private and binding resolution. Follow the rules set by the Dispute Resolution Foundation.
  4. Seek Legal Advice

    • Consult with a lawyer specializing in commercial law for guidance on your case.
  5. File a Lawsuit

    • If other methods fail, file a lawsuit in the appropriate Jamaican court. Prepare necessary documentation and evidence.
  6. Court Proceedings

    • Attend hearings and present your case. Follow legal procedures as guided by your lawyer.
  7. Judgment and Enforcement

    • If a judgment is made, ensure its enforcement through legal channels.

Costs

  • Mediation and Arbitration Fees: Vary depending on the service provider.
  • Court Filing Fees: Depend on the jurisdiction and case type; consult local courts.
  • Legal Fees: Vary based on the lawyer and complexity of the case.

Key Contacts

Our Members Include Leading Organizations in Jamaica

Ask our Experts on Doing Business in/with Jamaica

If you’re looking to do business or invest in Jamaica, we can provide expert guidance, market insights, and valuable connections to help you navigate the local landscape. Contact us today to discover how we can assist in making your venture a success.