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Choosing a business structure, when registering a company in Trinidad and Tobago

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A company registration in Trinidad and Tobago in 2020

Key benefits of doing business in this jurisdiction:

  • A stable economic development;
  • A developed infrastructure;
  • Tax incentives for oil companies;
  • An opportunity to obtain economic citizenship;
  • A focus on attracting foreign investment.

A cost of registering a business is from €4900

A company registration period is from 30 days

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To register an enterprise in Trinidad and Tobago, foreign investors need to consider local taxes and other factors. An entrepreneurship in this jurisdiction may take the form of:

  • LLC;
  • a branch;
  • a Joint Venture;
  • a Sole Trader;
  • mergers and acquisitions of companies in Trinidad and Tobago.
Registering an enterprise in Trinidad and Tobago

First, choose a legal form in accordance with your business. An important factor is a tax regime. Request for personal advice on opening a company in Trinidad and Tobago from IQD Consulting lawyers. Our specialists will provide you with recommendations on tax reporting in this jurisdiction. LLC is a commonly used form of enterprises. Benefits of LLC:

  • A high potential for a growth;
  • Directors/shareholders do not bear personal responsibility for liabilities of a firm;
  • More tax benefits.

You can also register a Sole Trader in Trinidad and Tobago. This form implies a personal responsibility for debts of a firm. Advantages of a Sole Trader:

  • A management flexibility;
  • Less legal control and taxes;
  • A quick decision-making;
  • It pays an income tax, a health surcharge.

You are also given an opportunity to transform a Sole Trader into an LLC. To do this, you must submit an application to cancel a registration of Sole Trader, simultaneously to register an LLC in Trinidad and Tobago with the same name.

Read also:
To set up an LLC in Trinidad and Tobago
  • A liability of shareholders is limited by the unpaid number of its shares.
  • A director changes information, all annual reports are provided in the Register of Companies.
  • A Companies Act requires such enterprises to fill out corporate documents on time, otherwise a fine of $300 is paid every 30 days.
  • A name must include “Limited” or “Ltd.”.
Opening a Private company in Trinidad and Tobago is characterized by the following:
  • at least 1 shareholder, 2 directors;
  • transfer of shares is limited;
  • a residency of a director does not matter;
  • no requirements for an authorized capital.
To register a branch in Trinidad and Tobago

You need such documents:

  • a Memorandum of Association;
  • an official statement;
  • a Power of Attorney;
  • an annual report is required.
To open a Partnership in Trinidad and Tobago

Partners are responsible for all debts of an enterprise, including tax liabilities. There are no requirements for accounting, auditing, disclosure of information.

IQD Consulting lawyers will provide legal assistance in registering a company in Trinidad and Tobago.

  • The information outlined in the article is actual at the time of its publication.

  • Please refer to our specialists for checking possible solutions for your business.

  • Still have any questions?

    Fill out the form or contact us as you find convenient. Our experts will help you resolve the issue.

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