How to send funds to your investment account from overseas
Funds should be wired to your account only after receiving authorization from JNFM.
A Client Information Form, AO1 for individuals and AO2 for Corporates, should be completed stating the source of funds for the transaction. Whereas a wire transfer normally takes a few hours, on occasion this process may take a day or two depending on the origin of the funds. Your investment account will be credited upon receipt of these funds.
Here are the instructions to wire funds to your account.
Investments being sent from the USA, UK or Canada in US dollars should be sent to:
Bank: Citibank, N.A.
Address: 111 Wall Street
New York, NY 10043
USA
ABA: 021000089
Account Name: Jamaica National Building Society
Account #: 36015386
Special Instructions:
Kindly advise Jamaica National Building Society to immediately pay these funds over to JN Fund Managers Limited for credit to account #1605080 and further credit to account Your full name(s) as it appears on your account e.g. John Peter &/Mary Keisha &/Jane Elizabeth Doe.
Investments being sent from the UK in sterling should be sent to:
Bank: Citibank, N.A. (London)
Address: 336 Strand
WC2R1HB
London
England
Sort Code: 18-50-08
Account Name: Jamaica National Building Society
Account #: 008022186
Special Instructions:
Kindly advise Jamaica National Building Society to immediately pay these funds over to JN Fund Managers Limited for credit to account #1605080 and further credit to account Your full name(s) as it appears on your account e.g. John Peter &/Mary Keisha &/Jane Elizabeth Doe.
Investments being sent from Canada in Canadian dollars should be sent to:
Bank: Scotiabank
Address: 44 King Street
Toronto
Ontario MSH IHI
Canada
Transit #: 18-50-08
Account Name: Jamaica National Building Society
Account #: 008022186
Special Instructions:
Kindly advise Jamaica National Building Society to immediately pay these funds over to JN Fund Managers Limited for credit to account #1605080 and further credit to account Your full name(s) as it appears on your account e.g. John Peter &/Mary Keisha &/Jane Elizabeth Doe.
You can opt to send us a banker’s cheque for investment by mail or courier. Your account will be credited upon receipt of the instrument.
JN Giro System (UK)
JNBS account holders may go to Barclays Bank in the UK and lodge funds directly to their JNBS account with instructions for those funds to be transferred / paid over to JNFM for their investment account. If you choose to send funds to us via this method, please note that it takes approximately 2 to 3 weeks before the funds are credited to your investment account.
How to receive payments from your account
Redemptions from your investment in whole, e.g. interest, principal repayments etc., may be done via a wire transfer directly to your bank account or by us sending your cheque directly to your mailing address via courier. Your payment instructions for either a cheque or a wire transfer to your account are to be forwarded to us by mail, fax or courier.
Reduce the tax rate on your investment
As an overseas resident, you may be entitled to a reduced tax rate under a double taxation treaty between the Government and your country of residence. To access this reduced rate (Canada 15%, USA 12½%, and UK 12½%), you are required to furnish the Jamaican Tax Authorities with the following:
- Copy of the relevant travelling pages of your passport
- Completed 1N form (obtainable from JNFM)
- TRN (or completed application form)
- Copy of Resident Card
- Evidence of the account (provided by JNFM)
- Letter from you stating your residency status
The documents may be forwarded to us and JNFM will arrange for their submission on your behalf. The cost for this service is US$20.00.
Alternatively, you may send this information directly to:
Tax Audit and Assessment Department
116 East Street
Kingston
JAMAICA, W.I.
They will in turn notify JNFM of the reduced tax
