Fees and timelines in 2023
Fees
Jamaica LLC setup costs in Year 1 will amount to US$4,575 and annual company costs in Year 2 and thereafter will amount to US$2,875. The average fee per engagement amounts to US$11,585 including i) Jamaica company incorporation, ii) corporate bank account setup, iii) legal registered office and iv) all government registration fees.
| Different Jamaica entity types | Cost | Draft invoice |
|---|---|---|
| Tax resident LLC | US$11,585 | View invoice PDF |
| PLC | US$12,585 | View invoice PDF |
| Branch of a foreign company | US$12,810 | View invoice PDF |
| Representative office | US$12,060 | View invoice PDF |
Timelines
The average Jamaica company registration period is 11 weeks as outlined below:
| Service | LLC | PLC | Branch | Rep Office |
|---|---|---|---|---|
| Engagement planning | 1 week | 2 weeks | 3 weeks | 3 weeks |
| Company incorporation period | 3 weeks | 4 weeks | 5 weeks | 5 weeks |
| Bank account approval | 3 weeks | 4 weeks | 5 weeks | 5 weeks |
| Internet banking approval | 3 weeks | 1 week | 1 week | 1 week |
| Engagement completion | 1 week | 1 week | 1 week | 1 week |
| Total engagement period | 11 weeks | 12 weeks | 15 weeks | 15 weeks |
