WHY JAMAICA? Ideal location and accessibility
Stable Government & Economy
Educated English-speaking workforce
• Gateway to multiple destinations
• Independent judiciary
• Skilled and semi-skilled labour
• Diversified and well developed capital market
• Intensive infrastructure
• No foreign exchange controls
• Efficient telecomunications
• One hour from Miami
• Increased privatisation of public sector companies
• Tropical climate
• Three hours from New York
• Liberal export incentives
• Time zone 0-3 hours from North America & 5-6 hours
• Liberal import policies
EST Time Zone - convenient for doing business with
the USA, Latin America and the Caribbean
from Europe • Main shipping lanes for Panama Canal
CONTENTS Why Jamaica? 1
Cotton Tree Bay 23
About Jamaica 3
Laughlands Tourist Development
JAMPRO & Partners 6
Mahoe Bay 25
Mosquito Cove 26
GOVERNMENT OF JAMAICA PROJECTS
San San 27
Caymanas Economic Zone 8
White Bay 28
Naggo Head ICT Park 10
Coral Springs 29
Tinson Pen Logistics Centre Development Centre
Barnett Tech Park 30
Navy Island/Titchfield Lands 13 Vernamfield Development Project
Back Rio Grande Hydro Scheme
Great River Hydropower Plant
Laughlands Hydropower 15 International Financial Services 16
Sun Fun Beach Resort 18 Amaterra Jamaica Ltd. 19 Negril Peninsula 20 Green Castle Estate 21
Norman Manley International Airport (NMIA)
Wallenford Coffee Company Limited (WCCL)
Richmond Property (Cocoa Lands)
The Oceana Building 34 The Office Centre Building
Barrett Hall Lifestyle Village
Font Hill 35
Map of Tourism Project Locations 36 INCENTIVES 37 Facilitating Investment in Jamaica
Jamaica is a relatively small island, 146 miles long and 51 miles wide, but with a global personality and influence that radiates well beyond its size. As the largest English-speaking Island in the Caribbean, its population of nearly 3 million represents a harmonious blend of races and cultures. Jamaica is a vibrant emerging market with enormous possibilities for trade and inward investment. Tourism, supported by over 3 million visitors annually, dominates the economy and is the largest employer. The Agriculture, Mining and Manufacturing industries are highly productive. Real estate and land development are big business, and the island has made phenomenal strides in information communications technologies, and is highly ranked as one of the leading outsourcing destinations in the Caribbean. The island is open to major investments in Agriculture, Manufacturing, Tourism, Information Communications Technologies (ICT), Financial Services, Film and the Creative Industries. Its comparative advantages that attract strategic investors and tourists include natural beauty, geographical location (only one hour and twenty minutes by air from Miami), time zone, English-speaking skilled labour force, strong financial services sector, the worldâ€™s seventhlargest natural harbour and mineral resource endowments, as well as a spirit of enterprise and well-established traditions of democracy and accountability. These endowments have aided Jamaicaâ€™s rise as the hub for trade within the Caribbean Community and Common Market (CARICOM) and into a popular centre for some of the worldâ€™s major transnational corporations (TNCs).
JAMAICA’S INFRASTRUCTURE FOR FOREIGN DIRECT INVESTMENTS SEA PORTS
Jamaica is advanced in modernising its port, airport, road, telecommunications, water supply and sewerage infrastructure. Investment in infrastructure is an important priority in national development, given its impact on competitiveness in the economy. The island has been a high performer in attracting foreign direct investment over recent years, particularly in the area of tourism, and this performance has been attributed to improvements in its infrastructure. Jamaica has nine active ports. The Port of Kingston is the largest, which at 21 square kilometres of navigable water, is the seventh largest natural harbour in the world. Located along the north/south, east/west axis of the Caribbean, the port is just 32 miles from the trade routes that pass through the Panama Canal. The Port of Kingston is divided into two terminals: (i) Kingston Container Terminal (KCT), which is owned by the Government and operated by The Port Authority of Jamaica and (ii) Kingston Wharves, which is owned and operated by Kingston Wharves Limited, a public company. Kingston Container Terminal has a capacity of 2.8 million Twenty Foot Equivalent Unit (TEUs). Transshipment accounts for 85 per cent of throughput at the facility. There are mainline services to North and South America, Europe, the Far East and Australia. KCT is a key player in the development of Jamaica’s logistics hub. Facilities include three terminals: North (21.63 hectares), South (43.87 hectares) and West (13.53 hectares); 2,310 metres of berth with depth of up to 14 metres; 19 cranes; 73 straddle carriers; 10 terminal tractors; 16 multi-trailer trains; 14 empty container handlers; 28 terminal tractors; 744 reefer plugs; and 27 chassis. The Terminal is controlled by a state-of-the-art computerized management system. Kingston Wharves has a capacity of approximately 200,000 TEUs. The facility includes: 1,644 metres of continuous berth with up to 13.0 metres depth; terminal area of 25 hectares including 30,000 square metres of covered warehousing and cold storage; 53,000 square metres off-port storage for vehicles; and state-of-the-art equipment including 3 mobile harbour cranes. With stellar infrastructure, competitive rates and a central location, the transshipment opportunities in Jamaica are limitless. Our easy accessibility to the main shipping lanes that run through the Panama Canal makes the Port of Kingston even more attractive to international shipping companies. Over 30 shipping lines have operations in Jamaica, covering all the major routes to the North and South American continents, Europe and the Far East.
The Port of Kingston:
“The natural harbour in Kingston is the 7th largest in the world”
AIR TRAVEL Jamaica has two international airports, Norman Manley International Airport located in Kingston and the Sangster International Airport in Montego Bay. Additionally, Jamaica facilitates domestic air travel through four aerodromes – Tinson Pen (Kingston), Ken Jones (Portland), Boscobel (St. Mary), and Negril (Westmoreland). The Norman Manley International Airport sits south of the Kingston Harbour on 228 hectares (563 acres) of land. It has a runway of 816 square metres (8,785 square feet) and is capable of accommodating aircrafts up to the size of the Boeing 747.
The Sangster International Airport runs along the northern strip of the country, 3.2 km from downtown Montego Bay. It’s on approximately 235 hectares (580 acres) of land, with a runway of 809 square metres (8,700 square feet) and an associated parallel taxiway running the full length of the runway. The redevelopment of the Sangster International Airport included the construction of a new concourse and the upgrading of the existing one, which has expanded the capacity of the airport to handle 9.5 million passengers per annum – three times its previous size. It was completed in August 2008. The airport handles the bulk of the traffic generated by the tourism industry and now possesses the most modern passenger facilities for shopping, immigration, customs and transport services in the Caribbean region.
HIGHWAY 2000 Highway 2000 is the centerpiece of a multi-year Millennium Projects Programme initiated by the Government of Jamaica. The main objective of these projects is to upgrade the country’s infrastructure and assist in providing economic opportunities for growth and the creation of jobs.
Sangster International Airport, Montego Bay
A section of the ‘Highway 2000’
The highway is a four to six lane controlled-access, tolled motorway with fully grade separated interchanges and intersections built according to modern international standards.
GOVERNMENT FACILITATION AGENCIES
Jamaica Promotions (JAMPRO)
JAMPRO is the Government of Jamaica’s investment and export promotion agency, which connects investors and entrepreneurs from around the globe to the trade and investment opportunities available in the leading sectors of the Jamaican economy. Operating under the direction of the Ministry of Industry, Investment and Commerce, JAMPRO guides investors from the decision making stage, through the approvals process, to when their investments become operational. The agency focuses on the targeted sectors of tourism, manufacturing, agri-business, information and communication technology, mining, energy, and the creative industries (film, music and entertainment). www.tradeandinvestjamaica.org
Development Bank of Jamaica The Development Bank of Jamaica facilitates the growth and development of all viable enterprises in the productive sectors of the Jamaican economy. The DBJ provides direct lending for large projects in strategic areas, medium and long-term financing solutions to all entities and supports the management and privatization of national assets and investments. www.dbankjm.com
Port Authority of Jamaica The Port Authority of Jamaica is the statutory corporation responsible for the regulation and development of Jamaica’s port and shipping industry. The corporation is responsible for the safety of all vessels navigating the ports of entry and the regulation of the tariffs charged on goods passing through the public wharves. In addition, the Port Authority regulates the establishment and operation of all port facilities, develops and manages safe, secure and efficient world-class port infrastructure in Jamaica and the related commercial operations that deliver sustainable growth while satisfying the needs of all stakeholders. www.portjam.com
Urban Development Corporation The Urban Development Corporation has a mandate to stimulate urban development through the planning and implementation of comprehensive development projects and programmes. www.udcja.com
Petroleum Corporation of Jamaica The Petroleum Corporation of Jamaica has been mandated to develop indigenous renewable energy resources, to prevent adverse effects on the environment and to realize the goals of Jamaica’s Energy Sector Policy. www.pcj.com
GOVERNMENT OF JAMAICA
MANUFACTURING/ICT Project Concept The ICT Park will house firms engaged in Software Development, Telecommunications/Co-Location services, BioTechnology, Business Process Outsourcing (BPO) and IT/ Security Consultancy (Network Operations Centre).
• • •
Key features of the project include: • • •
CAYMANAS ICT PARK
The Caymanas Economic Free Zone (CEFZ) consists of 1,500 acres of prime real estate, which is situated at the confluence of the major population centres of Kingston, Spanish Town and Portmore. Forty acres of this area has been earmarked for the development of the first phase of an ICT Park.
• • • •
40 acres of land with 1.2 million square feet of production space hosting 12,000 seats; An integrated ecosystem built on a modular plan from seeding or staging site; Intelligent self-contained city based on work-playlive and Knowledge Innovation Zone/Knowledge City concept; Staging Site - Ready to occupy plug-and-play space in 50,000 sq. feet (10 units) holding up to 700 seats; Starter facility that permits new market en trantsto pilot their business model in a cost ef fective manner on the condition that they build- out their own modular units in the ICT Zone and relocate in one year; Provides facilities to local entrepreneurs who can leverage world-class facilities within their constraining cost structures to provide sourcing services to global clientele; On-site power generation with excess capacity sold back to the national grid; Telecommunications providers will supply last mile connectivity; Training centre, light data centre facilities, meeting
rooms and business centre; Immigration Services, Customs offices, Free Zone certification; Campus offices representing all major universities and recruitment/job fair centre; Adjacent retail and recreational facilities and middle income residential developments for Knowledge Workers.
Project Phasing • • • •
• • •
Phase 1: Infrastructure works Phase 2: Staging Site Phase 3: Support facilities Phase 4: Modular build-out based on client commitments Subdivision Plan with splinter titling, building specifications and ownership options: Long term lease Lease for purchase Outright purchase
Key Highlights Caymanas is ideally located for a technology park development based on the following advantages: •
It is located 40 minutes away from the Norman Manley International Airport (NMIA) and Highway 2000 is in close proximity, providing ready access to a world-class road network and excellent public transportation; Modern shipping and trans-shipment services are less than 10 minutes away at the Port of Kingston, which enjoys easy accessibility to the main shipping lanes and
is the seventh largest natural harbour in the world. The national capital, Kingston, is in close proximity and has an estimated population of 580,000. The city also boasts the region’s premier transportation centre, as well as 146 schools, six management institutes and four universities; Also in close proximity is Portmore, the largest middle income dormitory community in the Englishspeaking Caribbean with over 265,000 residents, many of whom have post-secondary education.
Incentives Developers •
• • •
Real Estate/Land: The Jamaican Government has placed the 40 acres of land at Caymanas in a PublicPrivate partnership (PPP) vehicle for development. The developer will take advantage of the following concessions offered under the Tax Incentive Programme for Urban Renewal (TIP): Tax-free status on bonds issued; Tax credits of 25% of capital expenditure; 100% tax concessions on rental/lease income.
Clients Park clients who export more than 85% of their services offshore will benefit from the following: • No restriction on repatriation of foreign exchange; • Corporate tax exemption on profits in perpetuity; • Import duty exemption on capital equipment; • Reimbursement of VAT on local purchases.
INFORMATION COMMUNICATIONS TECHNOLOGY (ICT) Infrastructure •
Modular floor layout for office space;
Scalable office infrastructure (28-38,000 Sq. Ft. - Single
ity and has an estimated population of 580,000. The city also boasts the region’s premier transportation
Floor Plate); •
Earthquake and hurricane resistant infrastructure;
Centralised air-conditioning & air handling units (AHUs) located on each floor;
NAGGO HEAD ICT PARK, PORTMORE MUNICIPALITY The Government of Jamaica has earmarked a region called ‘Naggo Head’ for the purposes of establishing a 21-acre ICT Technology Park in the sub-urban Portmore community. The Naggo Head ICT Park is premised on an integrated ecosystem built on a modular plan from seeding or staging site.
Key features of the project include: •
600,000 square feet hosting approximately 6,500 seats
On-site power generation with excess capacity sold back to the national grid
Telecommunications providers will supply last mile connectivity
Optical Fibre Cable (OFC) and Structured Cabling Network;
Private dedicated power supply (IPP);
100% Power backup support;
24 hour uninterrupted water supply;
Large capacity, high speed passenger and service lifts.
The national capital, Kingston, is in close proxim-
centre, as well as 146 schools, six management institutes and four universities; •
It is situated in Portmore, the largest middle income dormitory community in the English-speaking Caribbean with over 265,000 residents, many of whom have post-secondary education.
Portmore is host to outsourcing industry heavyweights such as Affiliated Computer Services (ACS)
and West Corporation, which facilitate the business
Security - Access Control and Electronic Surveillance
Delta Airlines, Xerox Corporation and Proctor and
Key Highlights Naggo Head is an ideal location for an ICT Park development based on the following reasons: •
It is located 25 minutes away from the Norman Manley International Airport (NMIA) and Highway 2000 and Mandela Highway are in close proximity, providing ready access to excellent public transportation;
processing needs of Fortune 500 clients such as
Jamaica is linked to the Americas Region Caribbean Ring System (ARCOS-1) submarine cable in the Dominican Republic, which provides seamless connectivity to the US, parts of the Caribbean, Central America and South America. There are two major broadband carriers that provide triple redundancy.
The HEART Trust/National Training Agency gives technical support and financing for employment training through an island-wide network of institutions, and via on-the-job train-
ing/partnerships with community organisations. •
The Agency partners with start-up investors to promote worker training and certifica-
Head in a Public-Private partnership (PPP) vehicle for development; •
Financial assistance is offered by the Agency, usually in partnership with the firm, to fashion on-the-job and in-plant curricula for companies creating new jobs. Project support is negotiated and driven on specific project analysis. (Limited financial support is offered to firms that pursue accreditation as a training organisation).
The Agency also helps to recruit and screen applicants and assesses and certifies onthe-job learners.
NAGGO HEAD ICT PARK - LOCATION: ST. CATHERINE
The Urban Renewal Act and Factory Incentives Act offer attractive tax-free real estate benefits to encourage development.
tion. It has particular interest in high-skilled jobs where training leads to certification. •
Real Estate/Land: The Jamaican Government has placed the 21 acres of land at Naggo
Park clients who export more than 85% of their services offshore will benefit from the following: •
No restriction on repatriation of foreign exchange;
Corporate tax exemption on profits in perpetuity;
Import duty exemption on capital equipment;
Reimbursement of VAT on local purchases;
LOGISTICS TINSON PEN LOGISTICS CENTRE DEVELOPMENT LOCATION: KINGSTON The Tinson Pen Logistics Centre in Kingston proposes the development of an international, multi-modal logistics and distribution centre on 40 hectares of land, which is currently occupied by the Tinson Pen Aerodrome. The Logistics Centre will include display areas, administrative facilities, warehouses and the construction of a new aerodrome and associated facilities. The services to be provided include inter alia cargo logistics, warehousing and value added services. The property is zoned for industrial purposes and adjoins the Port of Kingston and the Free Zone Company operated by Kingston Logistics Centre (KLC).
The Tinson Pen Aerodrome is ideally located for the development of a Logistics Centre for the following reasons: •
Showrooms and display pavilions; Warehouses for value-added and fulfillment services; Information and trade research center; Offices (customs, administrative and support services)
It is located 40 minutes away from the Norman Manley International Airport (NMIA) and Highway 2000 is in close proximity, providing ready access to a world-class motorway and excellent public transportation; Modern shipping and trans-shipment services are less than 10 minutes away at the Port of Kingston, which enjoys easy accessibility to the main shipping lanes and is the seventh largest natural harbour in the world; Access to rail line to transport finished products from off-site locations. The land is owned by the Government of Jamaica, who will negotiate lease arrangements with developers and/ or clients; Tinson Pen will be capable of providing a range of logistics services (which can be met within 30 to 45-minute time horizons at either Norman Manley International Airport or Vernamfield) or handling higher volume containerised cargo via the Port of Kingston; The Port Authority of Jamaica is currently developing 17acres of the ‘non-operational’ aerodrome lands to develop display facilities and show rooms totalling some 35,000 sq. m of floor space.
NAVY ISLAND/TITCHFIELD LANDS LOCATION: PORTLAND Navy Island is a small 25-hectare island on the northeast coast of Jamaica owned by the
Port Authority of Jamaica (PAJ).
There are two natural beaches on the western shore of the island: Crusoe Beach and the very secluded Trembly Knee Beach.
The PAJ is desirous of developing the property into an upscale resort and ecological theme park. The property is in close proximity to Port Antonio’s upscale tourism destinations, as well as the Ken Jones Aerodrome, and has two natural beaches. The PAJ is aggressively seeking a suitable investor who is willing to purchase or partner with it for the future development of the property.
The island is ideally located for an upscale resort due to its: • Close proximity to the Errol Flynn Marina, a 32-slip mega –yacht marina, and the Ken Wright Cruise Terminal; • Access to electricity and water from the mainland; • Highway 2000 connectivity to other premier destinations on the North Coast.
AIR CARGO | LOGISTICS | AVIATION
VERNAMFIELD DEVELOPMENT LOCATION: CLARENDON Historically, Vernamfield was the prime location in the region for the United States’ multi-model transportation system, and for the protection of merchant fleets. Located in central Jamaica, Vernamfield comprises 2,900 acres of land.
• This development involves the combination of an industrial park and airport, providing storage, logistics and display space for manufacturers and third and fourth party logistics (3/4PL) providers, as well as a wide range of support services. The site will be operated as an international free zone designed to serve the markets of the Caribbean, Latin America, North America and Europe.
• • •
Fully equipped aerodrome with telecommunications centre and flexible runway capacities International air cargo transportation (centralized sorting and clearance centers) Aircraft Maintenance Repair and Overhaul (MRO) facility Primary logistics and value-added, manufacturing and assembling services within a free zone environment, as well as, Aviation training and general aviation services serving the domestic and regional markets.
• • •
Current capacity includes a 5,000-foot concrete runway; New runways will have the capacity to handle the largest aircraft, including the Antonov AN-124, AN225 and the Airbus A-380; 2,000 acres for ramps and towers; 3,500 acres for core operations and support facilities.
RENEWABLE ENERGY BACK RIO GRANDE HYDRO SCHEME LOCATION: PORTLAND The Back Rio Grande River, located in the eastern parish of Portland, is the site for this project, which involves the construction of 4 hydroâ€“electric schemes with total capacity of 10mw and annual generation potential of over 32,000 MWH. A Feasibility study was completed in December 2009.
GREAT RIVER HYDROPOWER PLANT LOCATION: GREAT RIVER, ST. JAMES Great River in St. James is the location for this project, which includes the construction of a hydropower plant with total capacity of 8 MW and annual generation of 38,000 MWH.
LAUGHLANDS HYDROPOWER LOCATION: GREAT RIVER, ST. ANN This project, which is located in Great River, St. Ann, includes the construction of a hydropower plant with total capacity of 2 mw. A feasibility study was completed in December 2009
FINANCIAL SERVICES Key Highlights Jamaica’s attractiveness as an IFSC will be enhanced by the following critical success factors: • Jamaica is a signatory to thirteen double taxation treaties and to a Tax Information Exchange Agreement (TIEA) with the United States; • Jamaica has a strong financial regulatory system and membership on regional and international regulatory bodies, including the Caribbean Financial Action Task Force (CFATF); • The country boasts a large cadre of highly trained English-speaking professionals; • The island has a highly developed telecommunications infrastructure; • Jamaica has a mature tourism product with excellent air links and the capacity to host large meetings in convention hotels, with more than 20,000 rooms.
International Financial Services Centre The global offshore financial sector is a US$5 to $7 trillion dollar global industry that has been identified by Jamaica as a key area for investment stimulation. Having commissioned a comprehensive KPMG study of the global IFSC market, Jamaica has developed a clear strategy to enter the market with a unique business model predicated on its politically independent structure of government and stable financial system. The establishment of an offshore financial services centre is a key investment initiative of the Government of Jamaica. The objective is to leverage Jamaica’s strengths by entering the market as a Mid-Value Competitor with a carefully planned strategy of developing into a Centre of Excellence. As a Mid-Value Competitor, we will develop a niche market and build our reputation until we become a global provider of a highly specialised niche service. The focus is on the provision of value-added services, such as international holding companies, trust services and ship and aircraft registry.
TOURISM SUPER FUN BEACH RESORT LOCATION: RUNAWAY BAY, ST. ANN The Super Fun Beach Resort is located in Runaway Bay, St. Ann. The resort sits on a 10-acre property owned by the Runaway Bay Development Limited, a limited liability company incorporated in Jamaica. The hotel was operated by the Super Clubs group under the Hedonism brand for approximately 10 years. The property, inclusive of the land, buildings, furniture, fixtures and equipment, is being sold along with adjoining property of approximately three acres.
Key Highlights Amenities on the property include: • Beachfront view • Swimming pools (3) • Basketball courts • Tennis courts • Bars (6) • Restaurants (4) • Bars (6) • Restaurants (4)
• • •
The hotel is located in an established resort town in close proximity of some of Jamaica’s most enthralling, enchanting and popular natural attractions; The hotel is minutes away from Highway 2000, which provides seamless connectivity to the Sangster International Airport and the Ian Fleming International Airport; The property is 35 minutes away from the newly-opened Falmouth Cruise Ship Terminal and Pier, which offers exciting opportunities for leisure and duty free shopping.
• • • •
2,300 hotel rooms in exclusive five star hotels 2,000 villas and town-home lots Luxury apartments Championship golf course
Amaterra presents an exciting and ideal opportunity for the development of a luxury resort based on the following features and advantages:
100-acre Commercial Centre
• • •
It is located approximately 30 minutes from the Sangster International Airport; It boasts 3.5 km of scenic ocean frontage, ranging from white sand beaches to majestic limestone cliffs. Subdivision and environmental approvals have already been secured.
AMATERRA Amaterra Jamaica Limited, a proposed five-star resort and mixed use development concept with a championship golf course and other attractions, is located in the vicinity of Duncans in the parish of Trelawny. It is situated next door to the site of the exclusive Harmony Cove development, and will be constructed on 865 acres. The project involves the construction of villas, condominiums and hotels. There is also the potential for the construction of a conference centre and/or casino with a natural outdoor amphitheatre.
Negril Peninsula The Negril Peninsula Resort is a unique concept that brings together the natural resources of Jamaica with first class resources in leisure, technology and both physical and spiritual well-being, to create a vacation lifestyle experience. The coastal shoreline of approximately one kilometre, which faces the Caribbean Sea to the south, will also accommodate the creation of five new beaches. For sustainability, a substantial part of the lower basin has been earmarked for commercial life and will see the establishment of office buildings, retail areas, restaurants, sports and leisure facilities. The development will be completed in four phases over a period of five years.
Project features: • • • •
1,202 residential units, three hotels and a new marina to accept keeled yachts and medium-sized ocean-going vessels; Five new beaches; Medical facilities; Security centre.
Key Highlights: The Negril Peninsula is ideally suited for a mixed use development based on the following advantages: • It is approximately 90 minutes from the Sangster International Airport in Montego Bay; • Great sunsets; •
Seven miles of white sand beach in close proximity;
Idyllic getaway. Resort and hotel permits/licences, marina and boat yard permit, and planning approval have already been secured.
GREEN CASTLE ESTATE LOCATION: ST. MARY
This property is located in St. Mary on Jamaica’s northeast coast, in a region targeted by the Jamaican government for ecotourism. The Green Castle Estate is a 1,591–acre property featuring idyllic valleys and hillside plateaus that rise from the Caribbean Sea to more than 500 feet in elevation. The Estate was acquired by a sole investor from the MacMillan family estate, owners of Cargill, Inc., and is unencumbered by leverage. The “vision” for Green Castle is to create a luxury, low– impact, mixed–use residential resort that will be environmentally, economically and socially sustainable. Of the 1,591 acres, an initial plan indicates that only 213 acres to a maximum of 400 acres is proposed to be developed.
The objective of Green Castle Estate’s owner is to identify a master developer who will co–invest in the land as a joint venture partner. The preliminary development plan includes ten major components: • • • • • • • • • •
Beach hotel of 200 rooms Luxury hotel of 150 rooms Beach casitas—15 units Fractional residences—75 units Hillside residences—40 lots Estate residences—75 lots Taino Indian Cultural Center—60 units Workforce housing—60 units Equestrian centre Agriculture and horticulture leases (in place)
Key Highlights The Green Castle Estate has: • Connectivity to the island’s Highway 2000 road network; • Close proximity to the Ian Fleming International Airport; • Beachfront property spanning two miles on the coast of the Caribbean Sea.
BARRETT HALL LIFESTYLE VILLAGE LOCATION: ST. JAMES
The Barrett Hall property is a 429-acre site located approximately 15 miles from Montego Bay, with an unencumbered view of the Caribbean Sea. It is ideally located for the development of a Retirement Village. The plan has the following main components: • 1,739 residential units including townhomes, villas and apartments for assisted living; • Pharmacies and medical facilities for assisted living; • Club house (15,000 sq. ft.);
Key Highlights The Barrett Hall Lifestyle Village is well suited for the development of a retirement village for the following reasons: • • • •
Proximity to key markets - Jamaica is just a one-hour flight away from Miami; Access to international airports - The property is a 20-minute drive from the Sangster International Airport; Proximity to the beachfront is less than a mile away (only 0.25 miles); Proximity to medical facilities - The property will benefit from being closely located to the new private hospital, the Hospiten Group, which operates an international network of private hospitals located in major cities and tourist destinations in countries such as Spain, the Dominican Republic and Mexico; Unencumbered view of the Caribbean Sea; Proximity to the “Elegant Corridor”, which hosts premier resorts such as the Ritz Carlton, Half Moon and Sandals Royal Caribbean, as well as other developments in the area such as an ultra-luxury resort that will offer casino gaming.
COTTON TREE BAY LOCATION: WESTMORELAND
Cotton Tree Bay is a short drive away from the casual, laidback resort town of Negril, which is famous for its seven-mile beach strip. The new highway between Montego Bay and Negril gives easy access to the property, which consists of approximately 200 acres. It boasts two miles of waterfront starting at the eastern point of Green Island Bay in the parish of Hanover and continuing east along the northern coastline. This desirable location has many possibilities, and it is ideally suited for a marina, resort and/or residential development, villas, hotels, spa facilities, exclusive residential homes and riding stables. Its extensive coastline could offer various water sports from sailing, snorkeling and scuba diving to spear-fishing. The turquoise water offers local flora, fauna and marine life. Some grooming and development of these beaches may be necessary to bring out its optimum pristine beauty.
Key Highlights • • • • •
Cotton Tree Bay is a 50-minute drive from Montego Bay; The Negril Aerodrome also has daily flights arriving from the Sangster International Airport in Montego Bay, which is 20 minutes by air in each direction; Great Sunsets; Beach on property and nearby access to Negril’s famed seven-mile white sand beach; Idyllic and secluded getaway.
LAUGHLANDS LOCATION: ST. ANN
This property is located in St. Ann, which is commonly referred to as Jamaica’s “Garden Parish”. It is immediately off the north coast highway and is 124 acres with sea frontage. The property sits next door to the Chukka Cove polo grounds and boasts two main spectacular beach locations. Due to its location and pristine white sand beach stretches, Laughlands is well poised for high-end resort development. It is also in close proximity to an air strip for light planes, which can be accessed by reservation.
Key Highlights • • •
90 minutes from Sangster International Airport; Development plan has already been approved; Extensive beach and cliff frontage.
LOCATION: ST. JAMES This 38-acre property situated in Mahoe Bay, St. James, is within a short distance from Sandals Cay, which is owned by the Sandals Group, and 15 to 20 minutes away from the Sangster International Airport by car. Proceeding east to west, the coastline of the first third of the site is very well protected by a wide coral reef that just breaks the surface of the sea at roughly 300 feet out. Looking west as the coral reef narrows and provides a natural opening to the sea, the coastline recedes to form a double, white sand crescent beach that offers a beautiful beach front. Three hotels have been identified for construction on the property, two of which have been granted preliminary approval. Due to the proximity of the Sangster International Airport, the recommended height for development is five stories.
Key Highlights • • •
Proximity to Airport – Mahoe Bay is 15 to 20 minutes from the Sangster International Airport; Beautiful white sand beach front; Approvals already granted for time share and hotel construction.
TOURISM Mosquito Cove is a unique property located in the parish of Hanover, which is close to the resort towns of Montego Bay in St. James and Negril in Westmoreland. The cove is protected by a reef, but allows easy access to yachts entering the calm, protected bay. The 71-acre property is located on the eastern side of the bay and is north of the highway from Montego Bay, Jamaica’s second city. Mosquito Cove is an ideal location for a marina and hotel development. South of the highway, approximately 200 acres of land rises gently and can be developed into a golf course. The western side of the land is 14 acres and has a small white sand beach.
Key Highlights • • •
MOSQUITO COVE LOCATION: HANOVER
Proximity to Airport – Mosquito Cove is 40 minutes from the Sangster International Airport; Beach on property; Excellent prospects for marina and hotel development.
LOCATION: PORTLAND The San San Estate is one of the few remaining pristine properties in Jamaica where there is an opportunity for high end resort development. The property is located in Portland on the eastern end of the island and sits on a total of 600 luxurious acres. On the property, the scenic San San Bay consists of 10 acres with unsold villa lots and an 18-hole golf course. There is a significant portion of the land that is not yet developed, which offers exciting potential for villas, a hotel and the maximisation of the golf course.
Key Highlights • •
Proximity to Airport - Approximately 2 ½ hrs by road or 20 minutes by air to the Norman Manley International Airport (NMIA); The San San property is being offered at US$45 million.
LOCATION: FALMOUTH, TRELAWNY The White Bay property is 88 acres or 35.61 hectares of beachfront property in Trelawny, east of New Court Beach. The main white sand beach in the western section is approximately 1,200 feet. Permission for resort development of 30 villas and 40 cottages, or a small hotel with the equivalent rooms has been granted and could be increased subject to the requisite approvals being granted. The topography of the land allows for villas to be built behind the beach and, as the land rises, all villas can offer a view of the sea.
Key Highlights •
Approximately half of this land can be developed as the rest (to the south and east) is defined as a “limestone forest” and is protected; Due to the fact that there are no rivers nearby, the water is crystal clear; Access was via a road along the coast, but the developers of New Court plan to offer a road into the property to the south, entering approximately half way along the western boundary; Construction can begin at White Bay immediately;
White Bay is being offered for US$8.5 million.
CORAL SPRINGS LOCATION: TRELAWNY
The Coral Springs property sits on a total of approximately 960 acres of land in Trelawny and consists of five properties with 1 km of beach. The property is suitable for a major resort development site and is able to accommodate hotels, a golf course, villa development, nature eco tours and possibly a marina.
Key Highlights • •
The property is located on the North Coast Highway, and east of the town of Falmouth; It is within 40 minutes of the Sangster International Airport in Montego Bay by car;
The new Falmouth Cruise Ship Pier commenced operations in 2011;
Coral Springs is being offered at a cost of US$25 million.
INFORMATION COMMUNICATIONS TECHNOLOGY (ICT)
BARNETT TECH PARK LOCATION: ST. JAMES
The Barnett Tech Park consists of 10 fully serviced lots within a 46-acre (18.6-hectare) gated complex in the Fairfield area. The Tech Park is located on the western side of Montego Bay, approximately 15 minutes from the Sangster International Airport, 5 â€“ 10 minutes from major hotels, restaurants and other leisure activities. It is approximately 8 â€“ 15 minutes from the various schools and universities in St. James. The value of the equity investment is US$1.8 million. Development approval has been obtained from the local authority.
TRANSPORTATION NORMAN MANLEY INTERNATIONAL AIRPORT & SELECT AERODROMES Norman Manley International Airport – Kingston, on the South East ofthe Island of Jamaica Ian Fleming International Airport – Boscobel, Saint Mary, on the North East of the Island of Jamaica Ken Jones Aerodrome – Portland, on the North East of the Island of Jamaica Negril Aerodrome – Negril, Hanover, on the West of the Island of Jamaica
The Government of Jamaica (GOJ) is seeking to identify and appoint a suitably qualified Concessionaire to develop and operate the Norman Manley International Airport (NMIA) and develop and expand select GOJ-owned Aerodromes. NMIA is situated less than twenty minutes from Kingston, Jamaica’s capital city. It is bordered by the seventh largest natural harbour of the world and is one of Jamaica’s global gateways. The current operator of NMIA is NMIA Airports Limited (NMIAL), which was incorporated in 2003 as a wholly owned subsidiary of the Airports Authority of Jamaica (AAJ). The existing concession at NMIA is for a period of 30 years commencing October 2003.
AGRICULTURE/AGRO-PROCESSING WALLENFORD COFFEE COMPANY LTD. (WCCL)
LOCATIONS: KINGSTON, CLARENDON, ST. CATHERINE, ST. ANDREW, PORTLAND, ST. ELIZABETH AND ST. CATHERINE The Wallenford Coffee Company is one of the largest licensed processors and exporters of Jamaica Blue Mountain Coffee. The company is vertically integrated and is involved in the purchasing, growing and processing components of the business process. Its coffee farms are located in Kingston, Clarendon, St. Catherine, St. Andrew, Portland, St. Elizabeth and St. Catherine. The Government of Jamaica is seeking investors who will undertake the financing, development, operation and management of the WCCL. The Company has assets valued at over US$20 million and has revenues of over US$7 million per annum in recent years.
RICHMOND PROPERTY – COCOA LANDS LOCATION: MAVIS BANK, ST. ANDREW
The Government of Jamaica is seeking to divest 38.03 hectares of agricultural property in Richmond, St. Mary.
Key Highlights The property forms a part of the Richmond District, a rural residential/agricultural area located in the hills of St. Mary. The main agricultural produce of this area is cocoa, bananas and coconuts. The community consists of a mixture of scattered low middle residences, large agricultural holdings, Richmond Correctional Centre, the Cocoa Board Factory, community shops, police station and a high school, among other institutions. Other social amenities and infrastructure such as a community centre, playing field, post office and petrol station are located approximately 5 km away at Highgate. The location is supplied by piped water. Electricity service is available on the property along with sewage disposal facilities. Generally, the roads in the area are in fair condition.
Other key Highlights: • • • • •
Approximately 16 hectares of the property comprises of bearing cocoa plants; Remainder of land (29.8 hectares) is covered in natural forest vegetation and scattered coconut trees; Irregular shaped parcel of land rising above access roadway; Adequate surface water drainage (a natural gully passes through the property); Unpaved property road runs through the property.
REAL ESTATE As a regional centre for trade and commerce, downtown Kingston has historically influenced the development and character of Jamaica. Downtown is anchored by significant cultural economic and governmental institutions such as the Houses of Parliament and the Supreme Court; and cultural landmarks like the National Gallery and Ward Theatre. It is also home to some of the largest private corporations in the country, retail and distribution companies, among others. The GoJ has demonstrated its commitment to the redevelopment of Downtown Kingston with the relocation of key Government Ministries to the area, the commissioning and planning for construction of a new Parliament building, commencement of works on a new Simon Bolivar Cultural Centre, the construction of an urban transportation centre, among other planned public works. For its part, the private sector has also committed to the redevelopment of Downtown Kingston with the planned relocation of the corporate head offices of Digicel, one of the islandâ€™s leading telecommunications providers. Available public infrastructure, a special downtown redevelopment package, along with advantageous rental rates and strong office space demand are making downtown the choice for new development. The Oceana Hotel and the Office Centre Building are premier properties on the Kingston waterfront, which are being divested by the Government of Jamaica for private enterprise.
THE OCEANA BUILDING LOCATION: DOWNTOWN, KINGSTON
The Oceana Building, formerly the 200 room Oceana Hotel, is located in the Downtown Kingston area. The hotel comprises of 12 floors located on the scenic Kingston waterfront. The building covers 222,129.44 sq. ft. The building is being sold and a valuation of the property is available. Expressions of interest must be submitted with a business plan, physical plan, financials and an offer.
THE OFFICE CENTRE BUILDING LOCATION: DOWNTOWN, KINGSTON
The Office Centre Building is located in the Downtown Kingston area. The hotel comprises of 12 floors with office spaces located on the scenic Kingston waterfront. The building covers 222,880 sq. ft. The building is being sold and a valuation of the property is available. Expressions of interest must be submitted with a business plan, physical plan, financials and an offer.
LOCATION: ST. ELIZABETH The Font Hill property, which comprises 1,054.5 hectares, is located on the south coast of Jamaica, approximately 8 km west of Black River in the parish of St. Elizabeth. The property is owned and operated by the Petroleum Corporation of Jamaica (PCJ), a statutory corporation and an agency of the Ministry of Mining & Energy. It is being zoned to facilitate development in the areas of agriculture, tourism, port & logistics facilities. The Font Hill property has a unique and diverse ecosystem in the wetland area. It is home to several protected, endemic and rare species of wild life. It boasts a wide variety of endemic bird species, turtles, crocodiles, indigenous plants and an extensive mangrove wetland. The land is managed by the PCJ. Studies have been conducted for agriculture and a wood fuel pilot project, and plans have been drawn up for forest reserves, wildlife sanctuary and resort/residential and public beach park.
Key Highlights Font Hill’s features include: • Pockets of white sand beach • Approximately 7.5 km of beach frontage • Limestone hill
MAP OF TOURISM PROJECT LOCATIONS
DOING BUSINESS IN JAMAICA: INCENTIVES FOREIGN SALES CORPORATION (FSC) ACT Exporters may obtain substantial tax benefits by establishing an FSC. A Foreign Sales Corporation (FSC) is essentially a company incorporated in a foreign country that the United States qualifies as a host country. Foreign Sales Corporations are allowed to earn tax exemption on exports to the USA. As an incentive for exporting, this Act provides relief from the Common External Tariff (CET) and the General Consumption Tax (GCT) on equipment, machinery and materials coming into the country. In addition, it provides for up to five years income tax relief.
FACTORY CONSTRUCTION LAW This Law targets companies which construct factories and lease or sell them to producers. It grants relief from: - Import duties for items which are not available locally. - Income tax on factory leasing or sales. JAMAICA EXPORT FREE ZONE ACT Before a manufacturer can take advantage of the concessions made available by this Act, their company must be incorporated or registered under the Companies Act. A company can operate within the designated Free Zone area or outside as a single entity in the customs territory. In order for firms outside the Free Zone complex to benefit under the single entity free-zone status, the company must: - Be registered according to the provisions of the Companies Act. - Export at least 85% of its production.
INTERNATIONAL FINANCIAL COMPANIES ACT In an effort to promote offshore banking facilities, the Jamaican Government has provided international financial companies with income tax relief on both profits and capital gains. Also known as the Income Tax Relief Act, it provides for partial relief from income tax for the benefit of corporate entities considered to be international finance companies and are approved and recognized under the Act. The “free-zone” status enables manufacturers and service providers (in the case of informatics free zones) to benefit from the exemption SHIPPING ACT from income tax on profits in perpetuity, as well as import duties and Under this Act, once a company is recognized as an “‘Approved licensing. Furthermore, there exists a special provision under this Shipping Corporation’” it may receive tax relief and concessions on Act, which permits the repatriation of foreign exchange by overseas import duties for up to ten years. investors to its parent company without any form of recourse on the part of the Government. MODERNIZATION OF INDUSTRY PROGRAMME This incentive provides for the waiving of General Consumption Tax chargeable on the acquisition of machinery and equipment directly ACCELERATED DEPRECIATION/SPECIAL CAPITAL ALLOWANCE Qualified businesses must be certified by the Ministry of Industry, related to the manufacturing process. Commerce and Technology. For a data processing/system development business, at least 20% of its gross income must be URBAN RENEWAL ACT This Act is targeted at persons or organizations that facilitate or carry derived from exports. Upon qualification, a certified business is out urban development. Relief from income tax, stamp duty, and granted a special allowance of capital expenditure for: transfer tax is given to those persons who engage in transactions - 50% of the full cost of any new machinery in the year of purchase. geared towards urban development, i.e. the metropolitan centres of - A further 50% in the second year. Kingston and Montego Bay.
HEART TRUST/NATIONAL TRAINING AGENCY The HEART Trust/National Training Agency provides technical support and financing for a wide variety of employment training programmes through its islandwide network of institutions, on-the-job training and partnerships with community organizations. The agency has partnered with numerous startup investors over the years to promote the training and certification of workers, and is particularly interested in high skill/high wage jobs, in which the training provided leads to NCTVET (National Council for Technical and Vocational Education and Training) certification. The Agency provides financial assistance, usually in partnership with the firm, to fashion on-the-job and in-plant training programmes for firms creating new jobs. Projects developed have been of various designs, customised to the employment situation, however funding is limited in this category and demand is high. The Agency also provides assistance with recruitment and screening of applicants as well as with assessment and certification of the on-the-job learners. Limited financial support is also offered to firms who wish to pursue accreditation as a training organization. INTERNATIONAL TECHNICAL ASSISTANCE PROGRAMME (ITAP) This covers the various programmes that are funded by international agencies and administered by JAMPRO/JTI. These programmes are made available to persons wishing to make investments that are deemed to have the potential to contribute to Jamaica on a developmental level. The main organization that presently funds these types of development programmes is the European Union through the European Development Fund (EDF). THE EXCHANGE CONTROL ACT The Government of Jamaica has no restrictions on the movement of foreign currencies flowing either in or out of Jamaica. This Act facilitates the free movement of capital to other countries, whether for investment or repatriation.
DOING BUSINESS IN JAMAICA: INCENTIVES Trade Agreements Administration Services Department of their intent to increase their Additionally, Jamaica is a party to a number of bilateral trade agreements herd by at least 10% over a five year period before the relief with countries in can be granted. Asia: China, Republic of Korea • Apiculture Latin America: Costa Rica, Dominican Republic, Mexico • Horse Breeding: Horse breeders have to assure the Tax Administration Africa: Nigeria Services Department of their intent to increase their herd by at least Europe: Czech Republic, Hungary, Norway, Russian Federation 10% over a five year period before the relief can be granted. It is also a member of a number of international free trade blocs such as CARICOM and WTO. Agreements also exist between Jamaica and a number of South American and Spanish Caribbean countries through joint CARICOM agreements. SECTOR INCENTIVES The Government of Jamaica has provided a number of investment incentives that are accessible by both local and foreign investors. The following is a listing of the more prominent incentives presently being offered in each sector, as well as those that may be applied across a number of sectors. Jamaica Trade and Invest/JAMPRO is the organization that facilitates access to these incentives.
REMISSION OF DUTIES ON AGRICULTURAL VEHICLES This 20% concession rate is available to farmers/farming enterprises that can prove the vehicles being imported are complementary to their farming activities. The vehicles must be panel vans and pick-ups not exceeding two tons, trucks exceeding two tons, tractor heads and tractors. REMISSION OF DUTIES ON AGRICULTURAL EQUIPMENT, MACHINERY AND PRODUCTS Farmers/farming enterprises are exempt from paying General Consumption tax (GCT) on items which are listed as exempted or zero rated under the tax, such as farming supplies.
Exemption from the payment of import duty on equipment, machinery and materials for the building of studios or for use in motion picture production.
UK CO-PRODUCTION TREATY Signed between the Governments of Jamaica and the United Kingdom in November 2007, the treaty enables films that are granted Approved Co-production status by the relevant competent authority to be treated as national films of each signatory country. Benefits include: duty free import or export of equipment, access to UK film tax incentives, granting of work permits in accordance with immigration legislation to Jamaican crew members, access to exotic locations and skilled labour. Types of Co-Production include: Finance-Only Contributions: This type of co-production should include one or more co-producers who solely contribute financially no less than 10% and no more than 25% and, financial contributions should not be less than 20% but no more than 25% of total production cost.
No Finance-Only Contributions: There is also an exemption or significant reduction of import duties on This type of contribution should include at least one UK Co-Producer certain items that are listed under the Provisional Collector of Tax Act. and at least one Jamaican Co-Producer. There can, however, be a Approved Farmer Status This is applicable primarily to the livestock, dairy and poultry industries. maximum of four Co-Producers. All Co-Producers must have entered Approved Farmer status guarantees the farmer income tax and import into a contract reflecting their respective responsibilities as Coduty concessions for up to ten years, after which the status may be Creative industries: FILM Producers and must directly negotiate the contract, and pay for rights, renewed. Farmers engaging in the production of the following qualify for goods and services. Any film-making contribution benefiting a country “approved farmer” status and the ensuing benefits: Motion Picture Encouragement Act shall be broadly proportionate to the financial contribution of the Co• Food crops grown and produced in Jamaica The requirement for eligibility is that a company must be incorporated Party and Co-producer (or Co-producers) established in that country. • Egg production/hatching or registered under the Companies Act. • Seed growing A “recognized film producer” is entitled to: Creative industries: MUSIC • Timber production • Relief from income tax for a period not exceeding nine years from TOOLS OF TRADE - WAIVER OF DUTY • Tobacco production the date of the first release of the motion picture. This incentive offers local and international artistes bringing in • Horticulture • An investment allowance of 70% of the expenditure on the equipment, instruments and other tools of the music trade a waiver • Aquaculture facilities, which may be carried forward beyond the initial nine year on applicable importation duties. To access this incentive, applicants • Livestock cultivation: Cattle farmers have to assure the Tax period, is also granted for income tax purposes. must submit the following prior to the arrival of the items. Agriculture Incentives
• • • •
A letter of request to the Film, Music & Entertainment Commission/ Creative Industries Unit, requesting assistance under the interim Tools of Trade Facility re: importation of music equipment/instruments. A proforma invoice with a detailed list of items being imported. This should include serial numbers and the cost of each item. Company Profile. A copy of the Certificate of Incorporation and current tax compliance certificate for companies registered in Jamaica. Jamaican applicants must be registered members of the Jamaica Federation of Musicians (JFM) or the Recording Industry of Jamaica (RIAJAM) Upon receipt of the above listed items, Jamaica Trade and Invest (JAMPRO) will submit the documents to the Ministry of Finance for approval. This process will take approximately ten working days.
MANUFACTURING INCENTIVES Jamaica Export Free Zone Act Before a manufacturer can take advantage of the concessions made available by this Act, their company must be incorporated or registered under the Companies Act. A company can operate within the designated Free Zone area or outside as a single entity in the customs territory. In order for firms outside the Free Zone complex to benefit under the single entity free-zone status, the company must: • Be registered according to the provisions of the Companies Act. • Export at least 85% of its production. The “free-zone” status enables manufacturers and service providers (in the case of informatics free zones) to benefit from the exemption from income tax on profits in perpetuity, as well as import duties and licensing. Furthermore, there exists a special provision under this Act, which permits the repatriation of foreign exchange by overseas investors to its parent company without any form of recourse on the part of the Government.
businesses, at least 20% of its gross income must be derived from petroleum products duty free. Furthermore, the manufacturer exports. Upon qualification, a certified business is granted a special is exempt from paying income tax, or tax on dividends paid to allowance of capital expenditure for: shareholders, for a period of up to seven years after which he has six years to carry forward net losses incurred during that period. • 50% of the full cost of any new machinery in the year of purchase Waiver of duty on raw material • A further 50% in the second year Agro-industries are granted an exemption from payment of the Export Industry Encouragement Act Common External Tariff (CET) and also the additional stamp duty on To qualify for incentives under this Act the manufacturer must be an their raw material imports. exporter of manufactured products. In the case of a full exporter (i.e 100% of the goods manufactured are exported), the business must Sugar be designed to export manufactured products in exchange for hard Since 1997 there has been an increase in the cost of imported currency (non-CARICOM markets). In the case of a partial exporter, refined sugar due to an imposition of an additional stamp duty and producers must export a threshold of 5% of their production to non- the Common External Tariff (CET). As a result, manufacturers using CARICOM markets. refined sugar as a “raw material” have been granted stamp duty Having fulfilled these requirements, the manufacturer is eligible to waivers under the raw material schedule. receive concessions on income tax for ten years as well as exemption from import duties on raw materials and machinery. The decision was also taken that if manufacturers use traders to The income tax rebate is granted according to the percentage of export import sugar on their behalf, these manufacturers should also be profits and total profits. For new exporters, the rebate is calculated based eligible for the waiver of additional stamp duty. on the percentage of export sales to total sales, while for the already To gain access to this incentive Agro-Industries/Manufacturers must: existing exporter, the rebate is calculated based on incremental export • Apply in writing to the Ministry of Agriculture making the request. sales over a base year. • Define item(s) clearly. The Act has been amended to provide benefits where incremental • State the quantity in exact weight in either kilograms or metric exports to non-CARICOM countries are in excess of 5% of total exports. tonnes. • Declare that the item is to be used as a raw material. Bauxite and Alumina TOURISM INCENTIVES Industries Encouragement Act Under this Act, if a business is engaged in the mining of bauxite or the production of alumina in Jamaica, they are automatically qualified for import duty concessions on capital goods, lubricating oils, grease and other chemicals.
Petroleum Refinery Encouragement Act Special Capital Allowance Qualified businesses must be certified by the Ministry of Industry, A registered oil refinery may import articles for the construction and Commerce and Technology. For data processing/system development operation of the refinery as well as for the purpose of manufacturing Accelerated Depreciation
Hotel Incentives Act For a hotel to benefit from this Act, it must contain ten or more bedrooms as well as facilities for meals and the accommodation of transient guests, including tourists. The Act offers income tax relief and duty concessions for up to 15 years for convention-type hotels (hotels with at least 350 bedrooms), and ten years for regular hotels.
DOING BUSINESS IN JAMAICA: INCENTIVES Resort Cottages Act
License and TPDCo Inspection Report (where necessary), as well as a Certificate of Registration of Business name is required for sole The resort cottage must contain at least two furnished bedrooms with traders. kitchen, living room and bathroom facilities, used for the accommodation of transient guests including tourists, in order to quality for reward. In this • Copy of Certificate of Title (where necessary). case, the business receives income tax relief for up to seven years, while a • List of items and quantities to be purchased certified by TPDCo (for those entities undertaking refurbishing that does not involve any group of cottages containing ten or more bedrooms is eligible to receive construction e.g. refurbishing and reequipping). similar income tax relief and duty free importation of building materials and furnishings. INFORMATION TECHNOLOGY INCENTIVES Attractions incentive The Government of Jamaica recognizes that the attractions sub-sector is an integral part of their efforts to achieve an efficient and internationally competitive tourism product. The attractions sub-sector can generate significant sustainable investment, foreign exchange and employment; in this regard, the Government of Jamaica is pursuing an integrated tourism development programme, in which attractions play a key role. It brings diversity to Jamaica’s tourism product, broadening the range of visitor experience by offering more than the sea, sun and sand for which we are popular. However, there was a need to stimulate growth and facilitate those wishing to invest in this sub-sector & as a result the Attractions Incentive Package was introduced. The incentive offers a five year exemption from corporate taxes for investors in attractions as well as an exemption from General Consumption Tax (GCT) and Customs Duty on items imported for five years. The submitted application to the Ministry of Tourism must include the following: • A copy of Balance Sheet for last year of operation (if applicable), a business plan, Photograph of facility (8”x10”) and a brochure. • Copy of approved building plan and drawing designating the precinct of the existing structure and proposed extension (where construction will be undertaken). • Quantity surveyor’s report (for those facilities undergoing major refurbishing or upgrading) • Copies of Certificate of Incorporation, Memorandum and Articles of Association (if a company makes application). • Copy of Tax Compliance Certificate (where necessary), a copy of JTB
HEART TRUST/NATIONAL TRAINING AGENCY The HEART Trust/National Training Agency provides technical support and financing for a wide variety of employment training programmes through its islandwide network of institutions, on-the-job training and partnerships with community organizations. The agency has partnered with numerous startup investors over the years to promote the training and certification of workers and is particularly interested in high-skill/high-wage jobs, in which the training provided leads to NCTVET (National Council for Technical and Vocational Education and Training) certification. The Agency provides financial assistance, usually in partnership with firms, to fashion onthe-job and in-plant training programmes for firms creating new jobs. Projects developed have been of various designs, customised to the employment situation, however funding is limited in this category and demand is high. The Agency also provides assistance with recruitment and screening of applicants as well as with assessment and certification of the on-the-job learners. Limited financial support is also offered to firms who wish to pursue accreditation as a training organization. Jamaica Export Free Zone Act Before a manufacturer can take advantage of the concessions made available by this Act, the company must be incorporated or registered under the Companies Act. A company can operate within the designated Free Zone area or outside as a single entity in the customs territory. In order for firms outside the Free Zone complex to benefit
under the single entity free-zone status, the company must: • Be registered according to the provisions of the Companies Act. • Export at least 85% of its production. The “free-zone” status enables manufacturers and service providers (in the case of informatics free zones) to benefit from the exemption from income tax on profits in perpetuity, as well as import duties and licensing. Furthermore, there exists a special provision under this Act, which permits the repatriation of foreign exchange by overseas investors to its parent company without any form of recourse on the part of the Government. Accelerated Depreciation/ Special Capital Allowance Qualified businesses must be certified by the Ministry of Industry, Commerce and Technology. For data processing/system development businesses, at least 20% of its gross income must be derived from exports. Upon qualification, a certified business is granted a special allowance of capital expenditure for: • 50% of the full cost of any new machinery in the year of purchase. • A further 50% in the second year.
FACILITATING INVESTMENT IN JAMAICA Jamaica is the place to do business on a global scale, and JAMPRO â€“ the national investment and export promotion agency - is the gateway that connects the world to Jamaica. In extending Jamaicaâ€™s image beyond that of a tourist destination, the agency works closely with entrepreneurs from around the globe to enable them to tap into the wealth of investment and trade opportunities available in the country. Operating under the direction of the Ministry of Industry, Investment and Commerce (MIIC), JAMPRO promotes investments in a number of targeted sectors, which include the creative industries (film, music and entertainment), manufacturing, tourism, agribusiness, information and communication technology, mining and professional services. In facilitating both local and foreign direct investment, JAMPRO guides investors through the necessary processes to ensure expedient and successful start-up. The agency also offers development support services after an investment project becomes operational. This serves to encourage continued growth and maximise the contribution of the investment to the national economy. In order to ensure the smooth implementation of investment projects, JAMPRO offers a suite of services in partnership with key government agencies and ministries. These services include securing work permits, non-tourist visas, duty waiver concessions, incentives, appropriate permits/licences, customs clearances, fiscal incentives, and building and development approvals. In this regard, JAMPRO collaborates with the National Environment and Planning Agency (NEPA), Jamaica Customs Department, the ministries of Industry, Investment & Commerce, Finance, Labour and Tourism, and the various Parish Councils. These entities are guided by the mandate to simplify and harmonise the processes, procedures and documentation related to getting an investment off the ground.
The agency’s cadre of knowledgeable and professional business facilitators stands at the ready to assist all potential investors, who can also access pertinent information on Jamaica and investment prospects through JAMPRO’s web site at www.tradeandinvest.org. As part of its ongoing efforts to appropriately use technology to efficiently accommodate the information needs of potential investors, the agency launched the web-based JAMPRO Interactive Investment Map. This resource provides a pictorial view and related data on key infrastructure and institutions, investment projects, lands for development, film locations, natural resources and other related information that will assist them in making investment decisions. The Investment Map, which runs on the Google Maps platform, can be accessed from the home page of JAMPRO’s web site at www.tradeandinvestjamaica.org. JAMPRO remains committed to improving promoting, stimulating and facilitating the development of industry and trade, improving the nation’s business climate, and fostering economic relationships with key players in international markets.
We are Your
Sancia Bennett Templer President, JAMPRO 876-978-7755 Ext. 2101 firstname.lastname@example.org Claude Duncan Vice President, Investment Promotion 876-978-7755 Ext. 2201 email@example.com Carol Straw Manager, Investment Support Services 876-978-7755 Ext. 2225 firstname.lastname@example.org Laurence Jones Manager, European Regional Office London 44-20-584-8894 email@example.com Robert Kerr Manager, North American Regional Office Toronto 416-932-2200 (direct) 416-598-3008 Ext. 239 firstname.lastname@example.org Mark Thomas Manager, Corporate Communications 876-978-7755 Ext. 2284 email@example.com
Published on Mar 16, 2013
Jamaica is a relatively small island, 146 miles long and 51 miles wide, but with a global personality and influence that radiates well beyon...