Jamaica
Key entity, tax, banking, visa, and compliance guidance for foreign founders incorporating in Jamaica.
Foreign Ownership Eligibility
Jamaica welcomes 100% foreign-owned companies
Fully remote formation — you never need to set foot in the country.
- Foreign founders can use local incorporation or PE expansion pathways
- Headline corporate tax is 25% for unregulated companies
- GCT standard rate is 15%
- TAJ and PICA provide established tax and immigration channels
Ownership
100% Foreign OK
Formation
100% Remote
Note
Registry process details and fee schedules require direct ORC confirmation due to dynamic site protection.
Tax at a glance
Jamaica Tax Overview
25% unregulated; 33 1/3% many regulated entities
Corporate income tax
PwC Jamaica corporate taxes
15% standard
GCT (VAT)
PwC Jamaica other taxes
JMD 15 million annual turnover
GCT registration threshold
PwC Jamaica other taxes
PAYE, Education Tax, NHT, NIS, HEART
Payroll deductions
PwC Jamaica other taxes
Pros & cons
Advantages & Considerations
Key Advantages
Clear TAJ tax administration channels
Established legal paths for local companies and foreign expansion
Predictable GCT baseline and published thresholds
Considerations
Registry process details require direct live confirmation
Sector classification can materially change effective tax burden
Payroll deduction stack adds operational complexity
Incorporation Process
The process is strictly digital. Each stage builds on the previous one.
Choose local company or external registration
Complete corporate registration
Register with TAJ
Set payroll deduction workflows
Process immigration needs
What you'll pay
Cost Architecture
Government Fees
Annual Ongoing
Professional Services
Still unsure about costs?
These are estimates — your actual cost depends on your structure
Every Jamaica setup is different. A 15-minute call with one of our specialists will give you a personalised cost breakdown — completely free.
Fintech & Banking
Can non-residents open accounts without visiting? YES.
Banking options for non-resident founders in Jamaica. Remote account opening availability varies by institution.
| Institution | Type | Ease for Non-Residents | Notes |
|---|---|---|---|
| NCB | Traditional bank | Low (Visit Required) | Institution and KYC dependent • Bank dependent • Bank dependent • Corporate records, tax registration, ownership documents, business description |
| Scotiabank Jamaica | Traditional bank | Low (Visit Required) | Institution and KYC dependent • Bank dependent • Bank dependent • Corporate records, tax registration, ownership documents, business description |
| JN Bank | Traditional bank | Low (Visit Required) | Institution and KYC dependent • Bank dependent • Bank dependent • Corporate records, tax registration, ownership documents, business description |
| CIBC FirstCaribbean | Traditional bank | Low (Visit Required) | Institution and KYC dependent • Bank dependent • Bank dependent • Corporate records, tax registration, ownership documents, business description |
| Digital alternatives vary by business profile | Fintech | High (Remote) | Institution and KYC dependent • Bank dependent • Bank dependent • Corporate records, tax registration, ownership documents, business description |
Regulatory requirements
Annual Compliance Matrix
| Requirement | Deadline | Details |
|---|---|---|
Corporate tax filings | Ongoing | Maintain annual and periodic corporate-tax obligations. |
GCT filings | Ongoing | File and remit GCT on statutory cycles once registered. |
Payroll remittances | Ongoing | Meet PAYE and social deduction remittance deadlines. |
Corporate registry upkeep | Ongoing | Maintain annual returns and statutory records with registry authorities. |
Frequently Asked
Speak with a Jamaica specialist
Get personalised guidance on entity types, costs, timelines and banking — free, no commitment needed.