The Securities Act requires individuals or companies wishing to enter the securities industry as dealers, investment advisers or their representatives, to be licensed by the Financial Services Commission. An investment adviser is a person who carries on an investment advice business, which means advising persons regarding investing in or the buying or selling of securities. Under the Act, dealers and investment advisers are licensed, while their representatives are registered. In considering the qualifications to be met by persons applying to be licensed as dealers or investment advisers and to be registered as Representatives, the Commission had to establish educational and financial criteria to be satisfied by all applicants.
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 is 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 Investment Adviser License Legal Requirements
|Jamaica Banking Licence||Description|
|Share capital or equivalent|
|Service Providers Required|
Jamaica Investment Adviser License Tax Treatment
Jamaica Investment Adviser License attracts capital gain tax of 15%
Jamaica Investment Adviser License Duration to Set Up
Jamaica Investment Adviser License Distinctive Benefits
- 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.
Why US (Key Strengths)
- 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