The operation of the Port Authority's Free Zones is regulated by the Jamaica Export Free Zones Act. Under this Act companies in the Free Zones are guaranteed the following incentives in perpetuity:
Companies that export a minimum of 85% of their goods/services qualify for Free Zone status under the Free Zone Act. All the companies in the contact center industry operating in the MBFZ must have Free Zone status.
Free Zone Status enables the following benefits:
Tax ExemptionThere 100% tax holiday on profits in perpetuity
CustomsCompanies operating in the Zones are not subject to import licensing and customs procedures have been reduced to a minimum.
Repatriation of profits
There is no restriction on the repatriation of profits and Free Zone companies are permitted to operate foreign currency accounts.
Duty Free capital equipment
All Free Zone companies are allowed to import a range of goods and equipment free of customs, consumption and stamp duties.
- Capital goods
- Consumer goods
- Raw material, components or articles for use in an approved activity.
- Articles imported for the construction, alteration, reconstruction, extension or repair of premises in the Free Zone.
- Articles for equipping premises including office equipment.
All foreign nationals in Jamaica are required to possess valid work permits. Visas are required for some countries
JAMPRO, the government's investment promotion agency, will work closely with investors to facilitate their company receiving the requisite permits and approvals to operate in Jamaica.
JAMPRO will assist in getting work permits, which are required for non-Jamaicans who would be permanently or semi-permanently based in Jamaica. Work permits are usually granted to managerial level staff, where the skills are not available in Jamaica.