Jamaica
AI Agent Legal Status: undefined · Autonomy: low
Legal Framework
Jamaica launched JAM-DEX, its central bank digital currency, in 2022, making it one of the first Caribbean nations with a live CBDC. The Bank of Jamaica (BOJ) regulates financial services and has engaged with fintech innovation. No specific AI or crypto-asset legislation, though the BOJ has issued guidance. English common law system.
Key Laws & Regulations
- ◆Bank of Jamaica (Amendment) Act 2022 - JAM-DEX CBDC
- ◆Electronic Transactions Act
- ◆Data Protection Act 2020
- ◆Proceeds of Crime Act (AML provisions)
Business Formation
Companies registered under the Companies Act with the Companies Office of Jamaica. English common law system. Standard corporate structures (Ltd, public companies). No specific provisions for AI or DAO entities.
Tax Implications
Corporate income tax at 25% (33.33% for regulated entities). GCT (VAT) at 15%. No specific crypto tax framework. JAM-DEX transactions treated as local currency. Limited double taxation treaties.
Opportunities
JAM-DEX infrastructure enabling digital payment innovation. English-speaking with strong diaspora connections. Growing startup ecosystem. CBDC experience attractive for digital finance experimentation.
Highlights
JAM-DEX CBDC live and operational. English-speaking with common law system. Data Protection Act enacted. Growing fintech ecosystem. BOJ engaged with digital innovation.
Risks & Challenges
Small domestic market. Limited tech infrastructure outside Kingston. Crime and security concerns. Brain drain of tech talent. No specific AI or crypto regulatory framework beyond CBDC.