By virtue of the Companies Act of Jamaica 2004, each registered company in Jamaica is required to file an annual return to the Registrar of Companies each year after incorporation or the anniversary of the date when the last return was made. When an annual return is registered at the Companies Office of Jamaica each year, the Registrar will issue a Certificate of Good Standing which is evidence to the whole world that your company is active and it is safe for any person, corporation, firm or company to do business with your company.
Should a company default on filing an annual return, the Registrar of Companies will send a letter to the directors of the defaulting company to request that annual returns be filed. If after one month, the default continues, the Registrar sends a second letter to the company. If there is continuing default, the Registrar of Companies will post a notice in one of the Newspapers or in the Gazette which threaten the removal unless steps are taken to comply with the notices issued earlier.
If after three months and the company still fails to comply, a second notice is issued in a newspaper or in the Gazette, which give notice to the whole world that the company is removed the Register kept by the Registrar of Companies.
Thereafter, it would be unlawful for such a company to trade or otherwise operate. In addition, the company will be unable to deal or otherwise transfer any of its properties (real estates, motor vehicles, etc) as these are taken over by the Government. In all the circumstances, it pays to keep your company up to date.