Monday, 13 June 2022 11:13

Owners Of SMTES Urged to Register Businesses

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The Companies Office of Jamaica (COJ) is urging owners of small and medium-sized tourism enterprises (SMTEs) to register their businesses.

Public Relations Officer, COJ, Kawain Fearon, said that the process has been made easier through online registration, using the Electronic Business Registration form (eBRF).

He was speaking at a business development information session for SMTEs, hosted by the Tourism Enhancement Fund (TEF), at The Jamaica Pegasus hotel on Wednesday (June 8).

The eBRF facilitates the uploading of supporting documents, online payment and delivery options for the registration certificate.

Persons utilising the platform must first reserve the name of the entity they wish to register. A name may be reserved for 30 days, and checks will be done within 48 hours to see if the name is available.

Following approval of the reserved name, the applicant may proceed to the registration of the company or the business.

“A lot of persons who are in the tourist market are outside of the Corporate Area, and as such, our online facility at will ensure that you register your business or your company type with ease,” said Mr. Fearon.

He pointed out the registration and formalisation of a business is very important.

“It’s not just a process that you get nothing from. It’s a process that allows you to access loans if it is that you are thinking of expanding your business and want a bank account in the name of your business or to encash cheques in the name of your business,” Mr. Fearon said.

He pointed out additional benefits, including, being listed as ‘registered’ on the COJ website and being identified as a ‘legitimate’ entity to do business with customers.

Last year, 17,000 business names and more than 4,800 company names were registered. Approximately 39 per cent were registered using the eBRF.