Jamaica Investment Adviser License
Jamaica Investment Adviser License Key Features
- The regulations provide a choice of two (2) methods for individuals to meet the financial requirements for Dealers and Investment Advisers’ Licences.
- They must either maintain a minimum net worth of $10M or acquire Indemnity Insurance for a minimum of $10M. If the individual chooses to maintain net worth of $10M
- Audited Financial Statements establishing this must be submitted. Net Worth is defined as “…. the difference between his assets and his liabilities”.
- There are no financial requirements for representatives, so all that must be submitted by persons applying for registration of Representatives are certified copies of their passports, academic qualifications and marriage certificates.
- Companies applying for an Investment Adviser’s Licence are required to maintain minimum Free Assets of $1M. Free Assets are defined as “the Company’s net asset worth held in the form of cash and readily convertible securities”.
- The Officers of the company must be fit and proper in that they should have had no convictions for offences involving dishonesty and are not undischarged bankrupts.
Jamaica Banking Licence |
Description |
General |
|
|
Jamaica Company |
|
Yes |
Share capital or equivalent |
|
|
$1M |
Directors |
|
|
2 |
|
Yes |
|
$10M |
|
$10M |
Service Providers Required |
|
|
No |
- Jamaica Investment Adviser License attracts capital gain tax of 15%
- No exchange controls or other restrictions in Jamaica
- There are no financial requirements for representatives.
- We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances.
- Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
- We are very hands-on in the post-filing period checking with the regulator and service providers and updating you regularly.
- Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
- We have a full in-house compliance support for all compliance requirements with the regulator and service providers