Have friend who wants to invest in small property a bed and breakfast style beach or cliff. Whats the hoops that would need to be jumped to buy a business property in Negril as and American citizen ??
Printable View
Have friend who wants to invest in small property a bed and breakfast style beach or cliff. Whats the hoops that would need to be jumped to buy a business property in Negril as and American citizen ??
Limo Mon, Rob from Negril.com would be a good starting point.
I have been going to Negril since 1992 and in the early 2000's started dreaming about a business in Negril. Rob's advice was to come down as often as possible and spend some time with ex pat business owners and talk to them about owning a business in a foreign country. He strongly recommended coming down in the slow season so I could experience first hand how "SLOW" slow season real is on the rock.
I still have the dream of one day owning a business on the rock, but haven't decided on what, how and where.
Remember Pirate's Cave? One night I was having a few drinks with Tom who ran Pirate's Cave, we were talking about running a business in Negril. Tom said " Happy, the only way I know how to make a small fortune in Negril, is to arrive on the rock with a large fortune and find a business in Negril to invest in!" :)
Good luck!
You can buy a property here just as you would in the US...paperwork and terminology of the real estate transaction might be slightly different to a US citizen...but is essentially the same process.
As far as owning a business in Jamaica...the company will need to be registered and for a bed and breakfast they will need to be licensed by the JTB. They will also be required to get a work permit if they plan on actively running the business while in Jamaica or plan to spend longer than approx. 6 months in a calendar year.
If your friends plan to be here less than 6 months in a calendar year and have hired employees to run the property/business for them, your friends will not be required to get work permits...but they will also not be allowed to actively work on that property while they are in Jamaica.
How hard is it to get a work permit ?
VVHT my dream started coming together in
2003 and ended in 2005, was planning on coming in June 2005 to start building limos in Negril Spot But with the economy it was dropped.
It can be fairly easy to get a work permit or quite difficult...as Rob says "it depends on what you bring to the table".Quote:
Originally Posted by Limo Mon
Below is the link to the work permit info. The fees have not been updated yet on their website...they are quite a bit higher now.
http://www.mlss.gov.jm/pub/index.php?artid=17
Thanks Bnewb !
Also please review the utility bills , liability insurance quotes, and taxes paid of the property. Also come to a monthly. Negril Chamber and Resort. Board Meeting