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Under the Companies Act 2004, it became possible for a
company to reserve a name for up 90 days before it is actually registered.
The advantages of name reservation include
1.
Establishing that the name can be used
2.
Protecting the name from use by others
3.
Allowing company to use the name for pre-incorporation
contracts with certainty
Procedure
In order to access this service, you will need to
complete and submit a COMPANIES NAME SEARCH AND
NAME RESERVATION FORM (form 6) at the Companies Office of Jamaica. The fee
is $ 2,500.00. Upon completion of the process, you will be issued with a
letter advising that the name is reserved for a period of Ninety days.
Pointers for choosing a name
1.
The Registrar of Companies has the right to refuse any name which
likely to cause confusion with another name already on the Register of
Companies.
2.
Names containing obscene language or indicating
an illegal activity will also be refused
3.
Names implying connection with Royalty, or a
Political Party must be justified
4. Certain
names e.g. containing “Engineering” “Pharmacy” “
Medical”
e.t.c.
must also be justified
The
following documents must be submitted:
1.
The Articles of Incorporation (Form 1A or 1B) which will
contains the following information:
(a)
The Name of the Company, which must include “Limited”
as the last word of the name in the case of a Company limited by shares or
by guarantee.
(b)
The registered address of the company which must be
situated in Jamaica;
(c)
In the case of a Company having a share capital, the
classes of shares, and the maximum number of shares the Company is
authorized to issue;
(d)
Restrictions, if any, on share transfers;
(e)
Minimum and/or maximum number of Directors;
(f)
Any restrictions on the business that the Company may carry
on.
The Articles must be stamped at the Stamp Duty and Transfer
Tax Department (111 Harbour
Street, Kingston)
2. A
Declaration of Compliance (Form 2)
This is a Declaration by an Attorney-at- law or Chartered
Secretary engaged in the formation of the company or a Director or
Secretary named in the Articles of Incorporation, stating that all the
requirements of the Companies Act 2004 were adhered to when the Articles
of Incorporation were being prepared.
It may be signed by
(a) A Director or Secretary of the Company
(b) An Attorney-at-Law or Chartered Secretary engaged in
the formation of the Company.
and must be witnessed
by a Justice of the Peace
3.
A Registered Office Notice (Form 17)
This document records the Registered or Legal Address of
the Company.
These
documents are then examined to ensure that they are fully and accurately
completed. If the documents are in order, then a Certificate of
Incorporation is issued within five working days.
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