Jamaica
Capital: Kingston HDI: 0.719 (99th)
Language: English
GDP (PPP): $25.317 billion
Currency: Jamaican Dollar
Population: 2,950,210
Jamaica is an island country situated in the Caribbean Sea, consisting of the third-largest island of the Greater Antilles. The island, 10,990 square kilometres (4,240 sq mi) in area, lies about 145 kilometres (90 mi) south of Cuba, and 191 kilometres (119 mi) west of Hispaniola, the island containing the nation-states of Haiti and the Dominican Republic. Jamaica is the fourth-largest island country in the Caribbean, by area. With 2.8 million people, Jamaica is the third-most populous Anglophone country in the Americas (after the United States and Canada), and the fourth-most populous country in the Caribbean. Kingston is the country’s capital and largest city, with a population of 937,700. Jamaicans are of predominately African descent, with significant European, Chinese, Indian, and mixed-race minorities. Due to a high rate of emigration for work since the 1960s, Jamaica has a large diaspora around the world, particularly in Canada, the United Kingdom, and the United States.
Jamaica is a Commonwealth realm, with Queen Elizabeth II as its monarch and head of state. Her appointed representative in the country is the Governor-General of Jamaica, currently Sir Patrick Allen. The head of government and Prime Minister of Jamaica is Andrew Holness. Jamaica is a parliamentary constitutional monarchy with legislative power vested in the bicameral Parliament of Jamaica, consisting of an appointed Senate and a directly elected House of Representatives.
RESEARCH
Economic Overview
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Jamaica Overview – World Bank
http://www.worldbank.org/en/country/jamaica/overview
Jamaica is an upper middle income country with the largest population in English speaking Caribbean. For decades, Jamaica has struggled with low growth, high public debt and many external shocks that further weakened the economy. Over the last 30 years, real per capita GDP increased at an average of just one percent per year, making Jamaica one of the slowest growing developing countries in the world.
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Jamaica Economy 2016, CIA World Factbook
http://www.theodora.com/wfbcurrent/jamaica/jamaica_economy.html
The Jamaican economy is heavily dependent on services, which accounts for nearly 80% of GDP. The country continues to derive most of its foreign exchange from tourism, remittances, and bauxite/alumina. Remittances and tourism each account for 30% of GDP, while bauxite/alumina exports make up roughly 5% of GDP.
Industry Trends & Business Climate
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Doing Business in Jamaica
http://www.uhy.com/wp-content/uploads/Doing-Business-in-Jamaica.pdf
Jamaica is a constitutional monarchy and a parliamentary democracy, which is based on the Westminster model
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Doing Business in Jamaica – World Bank
http://www.doingbusiness.org/data/exploreeconomies/jamaica
This World Bank site ranks Jamaica relative to other countries for ease of doing business
Establishing a Presence
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TYPES OF BUSINESS ORGANIZATIONS IN JAMAICA
http://www.jdic.org/files/seminars/jdic_financial_markets_fair_-_shellie_leon.pdf
A description of business types in Jamaica plus advantages and disadvantages of each
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Doing Business in Jamaica | JAMPRO
http://www.jamaicatradeandinvest.org/about-ja/doing-business
Before going into business in Jamaica, it is important to determine the legal structure best suited to your needs.
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Starting a Business in Jamaica – Doing Business
http://www.doingbusiness.org/data/exploreeconomies/jamaica/starting-a-business
This site provides a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Jamaica.
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Doing Business in Jamaica | JAMPRO
http://www.jamaicatradeandinvest.org/about-ja/doing-business
Before going into business in Jamaica, it is important to determine the legal structure best suited to your needs.
Taxes
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Jamaica Personal Income Tax Rate | 2004-2016
http://www.tradingeconomics.com/jamaica/personal-income-tax-rate
The Personal Income Tax Rate in Jamaica stands at 25 percent. Personal Income Tax Rate in Jamaica averaged 25.91 percent from 2004 until 2014, reaching an all time high of 35 percent in 2010 and a record low of 25 percent in 2005. Personal Income Tax Rate in Jamaica is reported by the Tax Admministration of Jamaica.
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Jamaica Corporate Tax Rate 2005-2016
http://www.tradingeconomics.com/jamaica/corporate-tax-rate
The Corporate Tax Rate in Jamaica stands at 25 percent. Corporate Tax Rate in Jamaica averaged 31.06 percent from 2005 until 2015, reaching an all time high of 33.33 percent in 2006 and a record low of 25 percent in 2013. Corporate Tax Rate in Jamaica is reported by the Tax Admministration of Jamaica.
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Jamaica Corporate – Taxes
http://taxsummaries.pwc.com/uk/taxsummaries/wwts.nsf/ID/Jamaica-Corporate-Taxes-on-corporate-income
A resident corporation is taxable on its worldwide income. Non-resident companies are subject to tax on Jamaican-sourced income.
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Jamaica Sales Tax Rate | VAT | 2006-2016
http://www.tradingeconomics.com/jamaica/sales-tax-rate
The Sales Tax Rate in Jamaica stands at 16.50 percent. Sales Tax Rate in Jamaica averaged 16.70 percent from 2006 until 2015, reaching an all time high of 17.50 percent in 2010 and a record low of 16.50 percent in 2007. Sales Tax Rate in Jamaica is reported by the Tax Admministration of Jamaica.
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Jamaica Sales Tax Rate | VAT Forecast 2016-2020
http://www.tradingeconomics.com/jamaica/sales-tax-rate/forecast
In the long-term, the Jamaica Sales Tax Rate | VAT is projected to trend around 16.50 percent in 2020, according to our econometric models.
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Jamaica – Taxes on personal income
http://taxsummaries.pwc.com/uk/taxsummaries/wwts.nsf/ID/Jamaica-Individual-Taxes-on-personal-income
In general, Jamaican residents and domiciled individuals are taxed on their worldwide income, while non-resident individuals are taxed on Jamaican-sourced income. Individuals are liable to income tax at a rate of 25% on income in excess of the annual tax-free threshold of JMD 557,232 (JMD 507,312 prior to 1 January 2015).
Visas
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Jamaica Visa: Application, Requirements
https://jamaica.visahq.com/
Comprehensive Information on Jamaica Visa Requirements
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Requirements For Entry Into Jamaica
http://www.congenjamaica-ny.org/visas/requirements-2/
All visitors are required to be in possession of a national passport or other acceptable travel document establishing nationality and identity, and bearing a photograph. The passport or other travel document must be valid for the period of intended stay in the island.
Infrastructure
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Jamaica Transportation
https://www.virtualtourist.com/travel/Caribbean_and_Central_America/Jamaica/Transportation-Jamaica-TG-C-1.html
124 tips on getting to and getting around Jamaica from real travelers and locals.
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Getting around Jamaica on local transport – Lonely Planet
http://www.lonelyplanet.com/jamaica/transport/getting-around/local-transport
Catching local transport in Jamaica – transport tips on getting around Jamaica like a local
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Telecommunications in Jamaica – Wikipedia
https://en.wikipedia.org/wiki/Telecommunications_in_Jamaica
Telecommunications in Jamaica include radio, television, fixed and mobile telephones, and the Internet.
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Telecommunications – Office of Utilities Regulation
http://www.our.org.jm/ourweb/sectors/telecommunications
The Office of Utilities Regulation regulates the telecommunications sector in Jamaica through the Telecommunications Act. Under the provisions of the Act, the Office shall, among other things, regulate specified services and facilities, receive and process applications for licences and promote the interest of customers.
Employer Obligations
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Jamaica Employment Laws | USA Today
http://traveltips.usatoday.com/jamaica-employment-laws-61992.html
Travelers to Jamaica who plan to work or conduct business there should be aware of the employment laws in the country. The Jamaican Ministry of Justice has enacted a number of statutes that provide employees with rights to minimum terms and conditions of employment.
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Labor Market Regulation in Jamaica
http://www.doingbusiness.org/data/exploreeconomies/jamaica/labor-market-regulation
This site provides a detailed summary of some of the labor regulations that would apply to local entrepreneurs wishing to hire workers, organize working schedules, improve job quality for workers, or make workers redundant for economic reasons in Jamaica.
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Labor Market Regulation in Jamaica
http://www.doingbusiness.org/data/exploreeconomies/jamaica/labor-market-regulation
This site provides a detailed summary of some of the labor regulations that would apply to local entrepreneurs wishing to hire workers, organize working schedules, improve job quality for workers, or make workers redundant for economic reasons in Jamaica.
Culture/Living
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Cost of Living in Jamaica
http://www.numbeo.com/cost-of-living/country_result.jsp?country=Jamaica
Average prices of more than 40 products and services in Jamaica. Prices of restaurants, food, transportation, utilities and housing are included.
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Cost of Living in Kingston
http://www.numbeo.com/cost-of-living/city_result.jsp?country=Jamaica&city=Kingston
This site provides a cost of living comparison with Kingston versus other cities. A car in Jamaica cost double than us price.
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Jamaica – Language, Culture, Customs and Etiquette
http://www.commisceo-global.com/country-guides/jamaica-guide
Guide to Jamaica and Jamaican culture, society, language, etiquette, manners, customs and protocol.
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Jamaica Business Etiquette
http://www.jamaicans.com/info/business_etiquette.htm
The atmosphere in Corporate Jamaica is ultra conservative as compared to corporate America. Many financial institutions still provide uniforms for their employees and dressing down is frowned upon.
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Climate – Jamaica
http://www.discoverjamaica.com/gleaner/discover/geography/climate.htm
Jamaica is in the tropical zone south of the Tropic of Cancer. However, its distance north of the equator has a moderating effect on its temperature, and hence Jamaica is said to have a semi-tropical climate.
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Jamaica Weather – AccuWeather.com
http://www.accuweather.com/en/jm/jamaica-weather
Get the Jamaica weather forecast. Access hourly, 10 day and 15 day forecasts along with up to the minute reports and videos from AccuWeather.com
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Public Holidays in Jamaica in 2016
http://www.officeholidays.com/countries/jamaica/index.php
Comprehensive list of National Public Holidays that are celebrated in Jamaica during 2016 with dates and information on the origin and meaning of holidays.
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CIA – The World Factbook — Jamaica
https://www.cia.gov/library/publications/the-world-factbook/geos/jm.html
See “People and Society” on this CIA site
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Jamaica – Government, Economy, Demographics, Education
http://country-facts.findthedata.com/l/184/Jamaica
Demographic facts and statistics on Jamaica
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Jamaica travel advice – GOVUK
https://www.gov.uk/foreign-travel-advice/jamaica
Latest travel advice for Jamaica including safety and security, entry requirements, travelwarnings and health
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Crime and Safety in Jamaica
http://gocaribbean.about.com/od/jamaica/a/Crime-And-Safety-In-Jamaica.htm
Travelers can have a great experience getting out and seeing the “real” Jamaica, but need to be mindful about the legitimate threat of crime where it exists.
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Jamaica Education System
http://www.classbase.com/Countries/jamaica/Education-System
This site provides a table and brief description of the levels of education offered in Jamaica
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CEF – Jamaica | Education Challenges
http://www.educatechild.org/jamaica-challenges.php
Although there have been significant advances in education in Jamaica, the existing systems continue to face severe short- comings. Underprivileged children in rural and poor urban areas particularly suffer from unequal access to quality education.
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Jamaica Public Holidays 2016
http://www.festivalsfun.com/public-holidays/jamaica-holiday-calender.html
Jamaica Holiday Calendar 2016 is presented here along with dates for all the festivals andholidays celebrated in Jamaica.
Trade
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Customs: Regulations, Export-Import
https://jamaica.visahq.com/customs/
Jamaica Customs regulations and procedures for importing and exporting goods at border.
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Customs Regulations: Jamaica
http://www.shippingquest.com/CustomsRegulations/jamaica.html
Jamaica customs regulations, Jamaica customs clearance, shipping toJamaica, shipping to Kingston,
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Trade Agreements | JAMPRO
http://www.jamaicatradeandinvest.org/trade/trade-agreements
Jamaica has negotiated trade agreements with the world’s major trading powers such as the European Union, Canada, and the United States, as well as in our important domestic CARICOM markets.
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Inventory of Jamaica’s Trade Agreements
http://www3.nd.edu/~jbergstr/DataEIAs2006/FTA5yrData_files/PDF%20Files/Latin%20America/Jamaica%20-%20Inventory%20of%20Agreements.pdf
A listing of Jamaica trade agreements
Housing and Rentals
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Jamaica Corporate Housing and Extended Stay Hotels
http://jamaica.biz-stay.com/
Find short-term furnished apartments and extended stay hotels with Biz-stay.com’s comprehensive directory.
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Top 10 Jamaica Hotels & Resorts
https://www.expedia.com/Destinations-In-Jamaica.d88.Hotel-Destinations
Read hotel reviews, compare prices, and find cheap deals on all hotels in Jamaica.
Travel
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Jamaica 2016: Best of Jamaica Tourism
https://www.tripadvisor.com/Tourism-g147309-Jamaica-Vacations.html
367,197 reviews of Jamaica Hotels, Attractions, and Restaurants making it your best Jamaica resource.
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Jamaica Travel Guide | Travel + Leisure
http://www.travelandleisure.com/travel-guide/jamaica
This site from Travel and Leisure magazine provides information on hotels, restaurants, and attractions
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