Starting a business in
🇯🇲Jamaica
Checked November 9, 2026 · How we score
Corporate tax
25%
Top income tax
30%
Setup from
$1,500
all-in, first year
Time to form
10 days
can be done remotely
What is the corporate tax rate in Jamaica?
The headline corporate tax rate in Jamaica is 25% in 2026, and individuals pay up to 30%. 25% for unregulated companies; 33â…“% for companies regulated by the Bank of Jamaica or the FSC (banks, insurers, most financial firms), with 25% for some exceptions such as renewable energy producers. Approved Special Economic Zone developers and occupants get large incentives, including a 0% corporate rate for a period. Minimum business tax applies when profits are low.
| Corporate income tax | 25% 25% for unregulated companies; 33â…“% for companies regulated by the Bank of Jamaica or the FSC (banks, insurers, most financial firms), with 25% for some exceptions such as renewable energy producers. Approved Special Economic Zone developers and occupants get large incentives, including a 0% corporate rate for a period. Minimum business tax applies when profits are low. |
|---|---|
| Personal income tax (top) | 30% 25% on chargeable income up to JMD 6 million a year, 30% above. The tax-free threshold is JMD 1,902,360 for the 2026 income year, rising to JMD 2,003,496 from April 2027. Non-residents get no threshold and pay 25% from the first dollar. |
| Tax system | Worldwide income |
| Capital gains tax | 0%No capital gains tax on most gains. Property transfers attract transfer tax (2%) and stamp duty, paid by the seller and buyer respectively. |
| Dividend withholding (non-residents) | 15% |
| VAT / GST | 15% |
| Social security | Payroll deductions are heavy: NIS 3%, NHT 2%, Education Tax 2.25% and HEART 3% (employer) are levied on employees' pay, on top of income tax. General Consumption Tax (GCT) is 15% standard. |
Forming a company in Jamaica
| Usual entity | Limited company (Ltd) registered with the Companies Office of Jamaica |
|---|---|
| Minimum capital | None |
| Setup cost (all-in) | $1,500–$3,500 |
| Annual running cost | $1,500–$4,000 |
| Time to incorporate | 10 days |
| Form remotely as a foreigner | Yes |
| Local director required | No |
| Local address required | Yes |
| Owners on public register | Yes |
| Statutory audit for small companies | Yes |
| Business banking for non-residents | Moderate |
Residency and visas
Jamaica has a digital nomad visa for remote workers earning abroad, and foreign investors and retirees can apply for permanent residence through the Ministry of National Security and the Passport, Immigration and Citizenship Agency. There is no citizenship-by-investment or golden visa. Confirm current requirements with PICA before applying.
| Digital nomad visa | Jamaica Digital Nomad Visa |
|---|---|
| Golden visa | No |
| Ease of residency for founders | 3/5 (1 = easiest) |
Taxes for individuals living in Jamaica
Residents who are domiciled in Jamaica are taxed on worldwide income. Residents who are not domiciled (most newly arrived expats) are generally taxed on Jamaican-source income and on foreign income only when it is remitted to Jamaica.
| Foreign income of residents | Taxed if brought in |
|---|---|
| Income tax structure | Progressive rates |
| Inheritance / estate tax | 0%Estate duty was abolished in 2014 and there is no inheritance or gift tax. Transfers of property attract transfer tax and stamp duty, with relief for transfers to spouses and children. |
| Wealth tax | No |
| Annual property tax on your home | Yes |
| Exit tax when you leave | No |
| When you become tax resident | Resident if you spend 183 days or more in Jamaica in a calendar year (or 183 days across two years with a permanent home available); domicile decides whether foreign income is taxable. |
Special tax regimes
Special Economic Zones (SEZ)
Approved developers and occupants of Jamaican Special Economic Zones receive a 0% corporate rate for a period, plus relief from customs duty and GCT on qualifying activity. Substance and approval from the SEZ Authority are required.
Non-domiciled resident treatment
Expats who live in Jamaica without being domiciled there are taxed on local income and on foreign income only if it is brought into the country, which can shelter overseas earnings.
Jamaica Digital Nomad Visa
A time-limited visa for remote workers employed or self-employed outside Jamaica.
Pros and cons
Why founders pick Jamaica
- No capital gains tax and no inheritance tax
- English-speaking common-law legal system
- Non-domiciled residents are not taxed on foreign income left abroad
- Reasonably quick company registration
Watch out for
- Corporate tax of 25% or 33â…“% is high for a Caribbean jurisdiction
- Top personal rate of 30% plus heavy payroll levies
- 15% GCT and 15% dividend withholding tax
- Crime and infrastructure concerns for some residents
Best for: Remote workers who want a Caribbean base with English-speaking infrastructure · Businesses serving the Jamaican market or using a Special Economic Zone · Expats who can use non-domiciled status to keep foreign income offshore
Jamaica: common questions
Is Jamaica a tax haven?
No. Jamaica is a normal-tax country: companies pay 25% corporate tax and the top personal income tax rate is 30%. It does offer special regimes for some newcomers, such as Special Economic Zones (SEZ).
What is the corporate tax rate in Jamaica?
25% for unregulated companies and 33â…“% for companies regulated by the Bank of Jamaica or the Financial Services Commission, such as banks and insurers. Companies in approved Special Economic Zones can get a 0% rate for a period.
How much is income tax in Jamaica?
Resident individuals pay 25% on chargeable income up to JMD 6 million a year and 30% above that, after a tax-free threshold of JMD 1,902,360 for the 2026 income year. NIS, NHT, Education Tax and HEART levies apply on top, and non-residents get no threshold.
Does Jamaica tax foreign income?
Residents domiciled in Jamaica are taxed on worldwide income. Residents who are not domiciled there, including most new expats, are taxed on Jamaican income and on foreign income only when they remit it to Jamaica.
Does Jamaica have capital gains tax?
No. Jamaica does not tax capital gains on most assets, though property transfers attract 2% transfer tax and stamp duty, and traders may be taxed on gains as business income.
How do I register a company in Jamaica?
File articles of incorporation with the Companies Office of Jamaica, then register with Tax Administration Jamaica (TAJ) for a TRN, GCT and payroll accounts. Incorporation typically takes about a week or two, and you need a Jamaican registered office address. A non-resident can usually use a local lawyer to handle it.
Sources
Similar countries
Not tax or legal advice. Rates and rules change; we check official sources and update every page, but verify with a licensed adviser in the country before acting. Spotted something out of date? Use the correction form below.