Jamaica eyes finance as potential income stream

| 27/06/2011

(JIS): Jamaica has a good shot at success as an International Financial Centre (IFC), Chairman of the Jamaica International Financial Services Authority (JIFSA), Eric Crawford, told the Diaspora Convention in Ocho Rios, last month. “It’s a very high value added industry everywhere it exists. In fact, the wealthiest economies in the world are international financial centres, and Jamaica has a very good shot at making a success of an international financial centre,” he stated. He was speaking to membersof the Jamaican Diaspora at their fourth biennial convention at the Sunset Jamaica Grande Resort, St. Ann.

The convention, which ends Friday June 17, is being held under the theme, ‘One Nation: Jamaica and its Diaspora in Partnership’.

“If we make it as successful, as we believe it can be, the implications for the economy will be far reaching and significant,” he explained.

He noted that annual registration fees to establish the companies and other entities are significant, and would mean additional taxes for the Government, as well as significant earnings for professionals in terms of audit, legal and other professional fees.

Crawford also noted that some of the world’s wealthiest countries boasted international financial centres of their own, including Bermuda, which has the highest per capita income of any country in the world.

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Category: Finance

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  1. Anonymous says:

    Until Jamaica learns customer service and not make the customer feel like they are being done a favour when they come to do business, that country will NEVER make itself into an offshore financial centre.

    The attitude towards customers is exteremely bad