| LLC | Free zone LLC | PLC | Branch Office | Rep Office | |
|---|---|---|---|---|---|
| Company Setup Time | 10 days | 10 days | 10 days | 15 days | 15 days |
| Bank Account Opening | 20 days | 20 days | 20 days | 25 days | 25 days |
| Government Grants Available | Yes | Yes | Yes | No | No |
| Government Contracts Bidding | Yes | Yes | Yes | No | No |
| Legal Liability | Yes | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
The Jamaica limited liability company (LLC)
- An LLC in Jamaica shall appoint a minimum of 1 director and 1 shareholder, who may be local or foreign citizen. The paid-up capital of this entity shall at least be USD 1 for the completion of registration procedure. The entity shall also appoint a secretary for the set up before its registration.
- The LLC shall appoint a registered auditor to conduct a yearly audit of the company. After the completion of incorporation, the company shall have a Jamaican registered office and it shall also keep legal and accounting records at the given registered office of the company.
The Jamaica public limited company (PLC)
- A PLC in Jamaica shall appoint at least 3 directors and 1 shareholder, who can be a local or foreign citizen. The company shall have a paid-up capital of at least USD 4,400 for the completion of the registration process. The PLC shall appoint a secretary for its company and we can help our customers in providing these services, if needed.
- The entity shall submit its financial statements audited annually by the company’s auditor, who shall be appointed before the incorporation process. PLCs are listed on stock exchange and their shares available on Jamaican Stock Exchange
The Jamaica branch office
- International organizations may incorporate a branch in Jamaica by hiring a locally resident agent or a representative with power of attorney for dealing with the business of the branch. This entity shall have a listed office for the completion of the registration process. The branch shall have a paid-up capital of at least USD1 to incorporate it.
The Jamaica representative office
- The representative office in Jamaica may be wholly owned by foreign entities. The office shall not be permitted to be involved in sales in Jamaica. The office can only conduct activities related to;
- Market survey, and
- Promotion of holding company’s business activities.