Returning residents who are interested in starting a business are being encouraged to utilise the Jamaica Business Gateway (JBG) which is an electronic platform designed to assist persons to overcome obstacles associated with business development.
The platform is one of the mechanisms being used to facilitate ease of starting a business, providing entities with the information and resources needed.
The site is available at www.jamaicabusinessgateway.com
Through the platform, persons can register local and overseas companies, individuals and firms that are carrying on business in Jamaica; acquire a Clearance Letter which is a prerequisite for obtaining a Tax Compliance Certificate (TCC); acquire the TCC, Tax Registration Number (TRN) and a General Consumption Tax (GCT) certificate.
Read Full Article
Govt Making it Easy for Returning Residents to do Business
Returning residents who are interested in starting a business are being encouraged to utilise the Jamaica Business Gateway which is an electronic platform designed to assist persons to overcome obstacles associated with business development.
The platform is one of the mechanisms being used to facilitate ease of starting a business, providing entities with the information and resources needed.
The site is available at www.jamaicabusinessgateway.com
Through the platform, persons can register local and overseas companies, individuals and firms that are carrying on business in Jamaica; acquire a Clearance Letter which is a prerequisite for obtaining a Tax Compliance Certificate (TCC); acquire the TCC, Tax Registration Number (TRN) and a General Consumption Tax (GCT) certificate.
The Jamaica Business Gateway (JBG) website encompasses several key features and services that contribute to its effectiveness in supporting businesses.
It has an information hub which provides access to critical resources such as business regulations, policies, guidelines, and market insights. This information equips entrepreneurs and investors with the necessary knowledge to make informed decisions and navigate the Jamaican business landscape.
The gateway also facilitates the registration and licensing process for businesses, and users can access the necessary forms, guidelines and instructions, simplifying the administrative procedures and reducing bureaucratic hurdles.
Among its other features, the website showcases investment opportunities across various sectors in Jamaica, promoting foreign direct investment and fostering economic growth. It provides details on key industries, potential projects, and incentives available to investors, encouraging collaboration and partnership.
The platform also offers networking and collaboration features, including a business directory and a matchmaking service. These tools enable businesses to connect with potential partners, suppliers, and customers, fostering synergies and facilitating trade within Jamaica.
Access to support services such as business advisory, mentorship programmes, training resources, and funding opportunities are also provided. These services aim to nurture entrepreneurship, enhance skills and empower businesses to thrive in the Jamaican market.
The JBG not only improves the ease of doing business but facilitates private-sector investment. The portal is also a key element of ‘Jamaica’s Business Environment Reform Agenda’, demonstrating the Government of Jamaica’s commitment to improving Jamaica’s digital and economic infrastructure and is in keeping with Goal Three of Vision 2030 to ensure that Jamaica’s economy is prosperous.
The JBG is deemed critical in the mandate of incorporating into the development planning process, a greater degree of innovation, critical thinking and strategic analysis to prepare Jamaica to better respond to emerging global trends and opportunities and attract investment to advance national development priorities and innovations.
It is also supporting the National Investment Policy by providing a direct business-to-government interface, to facilitate ease of communication between private companies and government entities.
And, under Jamaica’s Customs laws, provisions are made for the granting of certain benefits, exemptions and entitlements to returning students and returning residents and the spouse of returning residents. This cohort can benefit from exemptions from import duties, GCT and other fees.
The online process now offers greater convenience, especially for applicants applying from abroad, who were previously required to visit Jamaica to manually carry out the application process and physically submit the required documentation to the Returning Resident Unit.
To be considered a returning resident under the laws of Jamaica, and benefit from the concessions relating to personal and household effects and/or tools of trade, individuals must satisfy the following conditions:
Be a Jamaican national who has attained the age of eighteen (18) years
Have been resident overseas for not less than the past three consecutive years
Be returning to Jamaica to reside permanently.
Three special cases have been identified:
Non-Jamaican male spouses of women who qualify as returning residents will be afforded the same concessions as their wives. This provision had previously applied only to non-Jamaican female spouses of returning residents.
Students who have attained the age of eighteen (18) years who have studied abroad for more than one (1), but less than three years will qualify for concessions in respect of tools of trade; some normally dutiable items which may be new or used; and used household effects.
Jamaicans who gave up their citizenship (and can provide proof of that previous status) who wish to return home will be granted the status of a returning resident, with the attendant benefits.
The Government of Jamaica is also seeking to foster a safe and secure environment for all Jamaicans including returning residents. In this regard, the Jamaica Constabulary Force (JCF) has published a Safety and Security Handbook for Jamaicans overseas, who are desirous of returning home or have already resettled in the country. This handbook aligns with the Government’s thrust to increase communication at all levels with the Jamaican Diaspora.
The handbook also highlights the plans of the Government to create a safe, secure and fair society through the maintenance of the principles of social cohesion and respect for human rights. This focus on safety and security is complemented by the comprehensive databases of territorial officers of the JCF; key Ministries, Departments and Agencies (MDAs); as well as returning residents’ associations which are included in the Handbook.
There are various reasons for migrants’ return, these include retirement, lack of success/ poor integration in host country, rejected asylum applications, among others.
Last year (2022) the total number of voluntary returned residents was 789, a 9.0 per cent decline compared with 2021. The majority returned from the United States America (57.3 per cent) and the United Kingdom (17.9 per cent). The total number of Involuntary Returning Migrants (IRMs) for the year was 568, a 13.4 per cent decline compared with 2021 and a 46 per cent decline compared with 2019.
Overall, for 2022, the majority of IRMs (329) returned from the USA, accounting for 57.9 per cent, followed by “Other” countries, 28.5 per cent.
Like previous years, the main reasons for deportation were: Overstay/Illegal Entry/Re-Entry (41.5 per cent) and Possession of Drugs (21.0 per cent).
