JSEZA Stages ‘Unplugged’ Stakeholder Workshop In Montego Bay

Several key stakeholders benefitted from the Jamaica Special Economic Zone Authority’s (JSEZA) ‘Unplugged’ Workshop, which was held at Hotel Grand A View in Montego Bay, St. James, on October 9.

The attendees included attorneys-at-law and financial professionals, who were provided with a better understanding of Jamaica’s Special Economic Zone (SEZ) application process.

SEZs are geographically demarcated areas within countries where special tax benefits and fiscal incentives are provided to companies operating in these spaces.

The JSEZA has oversight for the SEZ regime, with all activities in these spaces governed by the Jamaica Special Economic Zones Act (2019) and Special Economic Zones Regulations (2017), along with guidelines issued by the Authority.

The entity regulates SEZs in collaboration with other Government entities, such as the Jamaica Customs Agency (JCA), Tax Administration Jamaica (TAJ) and Municipal Corporations, which monitor compliance within these zones.

In his remarks during the workshop, JSEZA Senior Director of Regulations, Policy Monitoring and Enforcement, Ainsley Brown, dispelled misconceptions about the SEZs.

“Oftentimes, people will come and tell us the zone is ‘foreign land’. [But] all zones are part of Jamaica [where] just slightly different rules apply. Unlike under the Free Zone [Act where] there used to be some doubt as to the customs’ authority… we make it clear that our friends from the JCA can visit you at any time,” he outlined.

Mr. Brown also reminded the stakeholders that SEZs are confined to a specific area for their operations.

“If you’re a developer… [and] if this room is what is designated as your zone, this is your zone, not out [elsewhere]. So your activities are to take place in this room. When you separate those two things, there are some consequences that result from that,” Mr. Brown said.

The workshop was held under the theme: ‘Your Roadmap to Maximising Investments’.