Avoid these four common mistakes when filing with the Companies Office.

Welcome to another episode of Business Blueprint, brought to you in partnership with the Companies Office of Jamaica.

Getting a business up and running can be tricky and we all make mistakes. Here are some common mistakes entrepreneurs make and tips to avoid them.

Mistake one: Putting in the wrong information or not submitting all the info required. 

You have to submit your Know Your Customer (KYC) documents like TRNs, photo IDs and proof of address. Then you have to ensure that the names, addresses etc on the forms match.

Mistake two: The commencement date (that’s Item 2a of the Business Registration Form).

For business names, when you’re filing, the start date must be the date of submission or a date in the PAST.  But for a new company, the commencement date must be the date of submission or a date in the FUTURE no more than three months away. 

Mistake three: Not submitting or having appropriate licenses or certification. 

Some businesses like barbers, hairdressers or companies offering medical or legal services, need licenses to operate. Submit those licenses! 

Mistake four: not identifying beneficial owners. Beneficial owners are people who own or control a company, even though it may not be in their name. You must include them when registering a new company. To learn more about beneficial ownership, visit this website on screen: 

Now, if you already have a company, you have to file annual returns. And those can be pretty intimidating. Here’s how to make it easier and avoid mistakes. 

Tip one: Make sure all the names, addresses and information on the forms are accurate and consistent. 

Tip two: Use the full company name that’s listed on your certificate of incorporation.

Tip three: keep copies of all the documents that you’ve filed with the COJ so that you can verify what information they have on file.

Tip four: go to their website to get guidance on filing your annual return!

Make sure you verify every piece of information and double check the records of the Companies Office of Jamaica. This can prevent you from having your application rejected and having to resubmit.