THE Companies Office of Jamaica (COJ) recently celebrated its 25th anniversary as an executive agency with the launch of two new services — the online business names renewal and online business names closure.

These form part of phase one of an extensive digital transformation which the COJ is undertaking, and further underscores the agency’s commitment to increasing convenience for the micro, small, medium-sized enterprise (MSME) sector while improving the ease of doing business in Jamaica.

Online submission of annual returns and annual beneficial ownership returns for companies as well as change documents will be rolled out in the second phase of the digital transformation process.

These services will be available via the COJ’s Electronic Business Registration Form (eBRF) platform, which was launched in 2019.

The eBRF has revolutionised business registration, facilitating the registration of more than 15,000 businesses online, eliminating the need for visits to the office, and reducing processing times.

In his keynote address at the COJ’s 25th anniversary gala and awards function, Minister of Industry, Investment and Commerce Senator Aubyn Hill lauded the agency for its contribution to the Jamaican business landscape and to the improvement of Jamaica’s ranking on the World Bank’s Doing Business Index.

Hill reminded the audience that the COJ played a significant role in Jamaica’s rating in the top 10 countries on the World Bank’s Doing Business Survey and added that at one point the country was ranked in the top five.

He also commended the COJ for its work, which resulted in Jamaica’s removal from the Financial Action Task Force (FATF) grey list in 2024. Countries on the FATF grey list face increased monitoring due to deficiencies in their anti-money laundering, combating the financing of terrorism, and proliferation financing framework.

In her remarks CEO of the COJ, Registrar of Companies Shellie Leon, thanked her team for their innovativeness, tenacity of purpose and flexibility in ensuring that even during challenging times, the work of the agency was executed with minimum disruption to the public.

Leon referenced the COVID-19 pandemic and noted that at one point, 50 per cent of her staff tested positive, while the agency lost two valuable staff members to the disease.

According to Leon, as many Jamaicans turned their passions and hobbies into businesses, registration skyrocketed during that period, but, “In true COJ fashion, faced with frequent lockdowns and a multiplicity of new normals, we pivoted, reorganised, and restrategised to come up with new and innovative ways to serve our customers.”

Leon noted that in moving towards full digital transformation and service modernisation, COJ is set to unveil a slate of innovations to improve Jamaica’s business environment.

She said the initiative will allow the agency to expand its reach, improve efficiency and access to information, and directly serve the needs of investors, including members of the Diaspora for whom convenience and compliance are key factors in investment decisions.

Leon pointed out that as part of its commitment to a digital experience, which will enhance efficiency and convenience for customers and stakeholders, while contributing to environmental sustainability, the agency will launch its ‘Go Green, Go Paperless’ initiative in the 2025/26 financial year.

A key component of that project will be a new mobile application, designed to provide additional accessibility and convenience to customers.

Last year, the COJ reported the registration of more than 23,000 new business entities, a nine per cent increase compared to 2023.

The agency also launched its online training course platform aimed at helping customers and members of the public learn more about beneficial ownership.

This followed the go-live of the agency’s Beneficial Ownership Hub in April 2023, which has been described as an invaluable, innovative tool worthy of emulation globally.