Jamaica

Ease of Doing Business in

Jamaica

This page summarizes Doing Business 2013 data for Jamaica. The first table lists the overall "Ease of Doing Business" rank (out of 185 economies) and the rankings by each topic. It also lists the economy's distance to frontier (DTF)** measure. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

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Economy Summary
Starting a Business
Dealing with Construction Permits
Getting Electricity
Registering Property
Getting Credit
Protecting Investors
Paying Taxes
Trading Across Borders
Enforcing Contracts
Resolving Insolvency
Region Latin America & Caribbean
Income Category Upper middle income
Population 2,709,300
GNI Per Capita (US$) 4,980
Doing Business 2013 Rank Doing Business 2012 Rank Change in Rank
90 85 down -5

Doing Business 2013 DTF** (% points) Doing Business 2012 DTF** (% points) Improvement in DTF** (% points)
64.8 63.1 down 1.7
Topic Rankings DB 2013 Rank DB 2012 Rank Change in Rank
Starting a Business 21 21 No change
Dealing with Construction Permits 50 50 No change
Getting Electricity 123 110 up -13
Registering Property 105 104 up -1
Getting Credit 104 97 up -7
Protecting Investors 82 79 up -3
Paying Taxes 163 174 up 11
Trading Across Borders 106 99 up -7
Enforcing Contracts 129 128 up -1
Resolving Insolvency 32 28 up -4

Economy Profile

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Doing Business Resources

Doing Business law library Law Library

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Additional Topic

Additional Data

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Starting a Business

Info

The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

DB 2013 Rank 21 DB 2012 Rank 21 Change in Rank 0
DB 2013 DTF** (% points) 89.0 DB 2012 DTF** (% points) 89.0 Improvement in DTF** (% points) 0.0
YearNew business densityNumber of new limited liability companies
2011 1.101,897
Indicator Jamaica Latin America & Caribbean OECD

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

View methodology Procedures (number)
6 9 5

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

View methodology Time (days)
7 53 12

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

View methodology Cost (% of income per capita)
6.7 33.7 4.5

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

View methodology Paid-in Min. Capital (% of income per capita)
0.0 3.7 13.3
No. Procedure Time to Complete Associated Costs
1 Ascertain from the Registrar of Companies whether the desired name is available and acceptable 1 day JMD 500
2 Have company documents stamped by the Stamp Commissioner 1 day JMD 500
3 File the company deeds to the Registrar of Companies 1 day with expedited service J$15,000 (registration fee) + J$3,000 for each additional document of which there are three:(a) Notice of Registered Office, Notice of Appointment of Directors and Notice of Appointment of Company Secretary; an additional J$6,000 for expedition service (same day)
4 Obtain national insurance scheme (NIS) reference number from the Ministry of Labour and Social Security 2 days no charge
5 Obtain taxpayer registration number (TRN) from Collector of Taxes 1 day no charge
6 Obtaingeneral consumption tax (GCT) registration 1 day no charge

** The distance to frontier (DTF) measure shows the distance of each economy to the "frontier," which represents the highest performance observed on each of the indicators across all economies included in Doing Business since each indicator was included in Doing Business. An economy’s distance to frontier is indicated on a scale from 0 to 100, where 0 represents the lowest performance and 100 the frontier. Read more...

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