Sole trader (sole proprietorship, business name registered under the Registration of Business Names Act)Jamaica
What it takes to form, own and run a sole trader in Jamaica, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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Unlimited responsibility/liability - all personal assets at risk for the debts of the business.
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Sole Trader or Sole Proprietorship where there is one owner.
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Yes
What it takes to form
Not in our records A notary, A resident director, Paying up the capital: none of these is in our records for the Sole trader (sole proprietorship, business name registered under the Registration of Business Names Act).
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 1 · at most 1 · one person may form it alone
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Sole Trader or Sole Proprietorship where there is one owner.
- A local company secretary
- Does not apply
- A local registered agent
- Not stated
The registry’s and the law’s own pages do not mention it.
Each year, at the registry
Not in our records Annual registry fee, Accounts on the public record, Audit for a small company, Audit: none of these is in our records for the Sole trader (sole proprietorship, business name registered under the Registration of Business Names Act).
Important dates
When each obligation falls due, as the authority states it.
- Renewal of the business name registration
- 36 months after incorporation
With Companies Office of Jamaica
Business names must be renewed every three years (Services page). The rule shows the first renewal, 36 months after registration; the rule types cannot express the repeat.
What is public
Not in our records What the register shows the public is not in our records for the Sole trader (sole proprietorship, business name registered under the Registration of Business Names Act).
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Through owners · 25%+1 regime
A sole trader is taxed as an individual: TAJ's FAQ gives 25% for individuals; the rate is 30% on income above the annual threshold set by TAJ.
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Individuals - 25%.
Special regimes that may apply
- Special Economic Zones Act, 2016 (No. 7 of 2016) free zone · 12.5%
An approved SEZ operator — a developer or occupant licensed to carry on a trade, profession or vocation within a designated special economic zone Special Economic Zones Act, 2016 (No. 7 of 2016)
Whether a company qualifies depends on its activity and conditions set in each statute.
- CFC rules in Jamaica
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- A Business may be closed and removed from the Register by a notice in writing to the Companies Office of Jamaica. The BN6 form is used for this.
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A Business may be closed and removed from the Register by a notice in writing to the Companies Office of Jamaica.
- Statutory fee
- JMD 600
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B.N 6 Closure of Registration of Business $600
Every business in Jamaica
Sales and consumption tax
- The tax
- General Consumption Tax (GCT)
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The GCT is a value added tax which is applied on the value added to goods and services at each stage in the production and distribution chain.
- Standard rate
- 15%
Tax Administration Jamaica's guide lists the standard rate's history ending at April 2020 at 15.0%, its most recent entry; the same guide's body text still quotes the older 16.5% standard rate, which its own history table supersedes.
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History of the standard rate: Date Percentage October 1991 10.0% June 1993 12.5% April 1995 15.0% May 2005 16.5% January 2010 17.5% June 2012 16.5% April 2020 15.0%
- Other rates
- 0% Goods and services listed in Appendix 1 of the GCT Act, taxed at zero percent
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The goods and services which attract a rate of zero percent are listed in Appendix 1.
- Registration threshold
- JMD 15,000,000
gross value of supplies, including exempt supplies for a mixed activity; 12-month period, or an average of $1,250,000 per month for a shorter period
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Effective April 1,2025, that value of supply is $15,000,000 over a 12-month period or an average of $1,250,000 per month for a shorter period.
- Voluntary registration
- Yes
A person who qualifies for registration as a Registered Person may apply voluntarily, subject to the Commissioner General's approval.
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A person who has applied for registration and qualifies for registration as a Registered Person may voluntarily apply to be registered as a Registered Taxpayer.
- A foreign company
- See the note
Tax Administration Jamaica's GCT guide sets out registration for persons engaged in a taxable activity in Jamaica but states no separate rule for a supplier with no establishment there, so no answer is recorded.
- Returns filed
- Monthly
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Due on or before the last day of the following month of the return period.
- Tax authority
- Registration page read 2026-10-22
Payment and banking services
None of the services whose lists we hold names Jamaica. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Sole traderDerived our grouping, the same words in every country
- Name in law
- Sole trader (sole proprietorship, business name registered under the Registration of Business Names Act)
- ISO 20275 code
- WVQNSecondary GLEIF, Entity Legal Forms code list