Jamaica has a population of 3 million people, and the economy is growing due to tourism, agriculture and mining industries. Doing business in Jamaica offers companies many opportunities for growth, as well as some challenges. To start a business in Jamaica, companies must register with the Office of the Companies Registrar to obtain articles of incorporation. Depending on the type of business, you may need to register your business name as well.
Labor and Payroll Considerations in Jamaica:
- The Employment Provisions Bill passed in 2014, allowing employees to negotiate flexible work arrangements based on their type of work
- Minimum wage is 7,000 JMD per week (approximately $51USD)
- Employees must register with the National Insurance Scheme to obtain a National Insurance Number
- Employers withhold tax, social security and pension from employee pay, and must also contribute portions of company revenue for social security and pensions
- Every tax payer must apply for a Taxpayer Registration Number, and employers must ensure employees have a TRN before beginning work
- Foreign nationals seeking employment must apply to the Work Permit Department of the Ministry of Labor and Social Security
- In accordance with the labor laws in Jamaica, employees must work 110 continuous days in their first year of employment to receive one (1) paid day off for every twenty-two (22) days worked.
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