Published
4 სექ. 2023
Updates:
3 დეკ. 2024
Trinidad and Tobago
Price:
Delivery:
Legal forms:
Payment methods:
2 weeks
LLC, LLP, PLC
Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
Trinidad and Tobago
$
1300
.png)
Delivery
-
Certificate of incorporation
-
Articles of association
-
Meeting minutes
-
Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Trinidad and Tobago
Frequently Asked Questions (FAQ) for Company Formation in Trinidad and Tobago:
Q: What are the different types of business structures that can be formed in Trinidad and Tobago?
A: The different types of business structures that can be formed in Trinidad and Tobago are:
1. Sole Proprietorship
2. Partnership
3. Limited Liability Company (LLC)
4. Public Limited Company (PLC)
Q: What are the steps to incorporate a company in Trinidad and Tobago?
A: The steps to incorporate a company in Trinidad and Tobago are:
1. Reserve a company name with the Registrar of Companies.
2. File the company's Articles of Incorporation with the Registrar of Companies.
3. Obtain a Certificate of Incorporation from the Registrar of Companies.
4. Apply for a Business Registration Number (BRN) with the Board of Inland Revenue.
5. Register for Value Added Tax (VAT) with the Board of Inland Revenue (if applicable).
6. Register with the National Insurance Board (NIB) for Social Security (if applicable).
Q: What is the minimum and maximum number of shareholders required for a company formation in Trinidad and Tobago?
A: A minimum of one shareholder is required for company formation in Trinidad and Tobago. There is no maximum limit on the number of shareholders.
Q: What is the minimum and maximum number of directors required for a company formation in Trinidad and Tobago?
A: A minimum of one director is required for company formation in Trinidad and Tobago. There is no maximum limit on the number of directors.
Q: What is the minimum share capital required for company formation in Trinidad and Tobago?
A: There is no minimum share capital requirement for company formation in Trinidad and Tobago.
Q: What are the taxes applicable for companies in Trinidad and Tobago?
A: The applicable taxes for companies in Trinidad and Tobago are:
1. Corporation Tax - 25% on profits.
2. Value Added Tax (VAT) - 12.5% on taxable supplies.
3. Withholding Tax - 15% on dividends, interest, and royalties paid to non-residents.
4. Capital Gains Tax - 0% on gains from the sale of shares and other securities.
5. Property Tax - 3% on the annual rental value of properties owned by the company.
Q: Can a foreigner form a company in Trinidad and Tobago?
A: Yes, foreigners can form a company in Trinidad and Tobago.
Q: What are the compliance requirements for companies in Trinidad and Tobago?
A: The compliance requirements for companies in Trinidad and Tobago are:
1. File annual returns with the Registrar of Companies.
2. File annual tax returns with the Board of Inland Revenue.
3. Keep proper accounting records.
4. Hold an annual general meeting (AGM).
5. File changes in company information, such as directors or shareholders, with the Registrar of Companies.
6. Comply with all relevant laws and regulations applicable to the business.
Trinidad and Tobago is an island nation located in the Caribbean Sea. It has a population of 1.4 million people and a GDP of $31.2 billion. The economy of Trinidad and Tobago is largely driven by the energy sector, which accounts for 40% of GDP and 80% of exports. The country is the largest producer of oil and natural gas in the Caribbean, and is the fifth-largest producer of liquefied natural gas in the world. The energy sector is supported by a strong manufacturing sector, which accounts for 15% of GDP and employs over 20% of the workforce. The manufacturing sector is largely focused on the production of petrochemicals, steel, aluminum, and other industrial products. The services sector is also an important part of the economy, accounting for 45% of GDP and employing over 60% of the workforce. The services sector is largely driven by tourism, finance, and telecommunications. Overall, Trinidad and Tobago has a strong and diversified economy, with a GDP per capita of $22,000, making it one of the wealthiest countries in the Caribbean.
In Trinidad and Tobago, there is a system of taxation for both corporate and personal entities. The tax system is overseen by the Trinidad and Tobago Revenue Authority (TTRA).
Corporate Tax: Companies registered in Trinidad and Tobago are subject to a corporate tax rate of 25% on their taxable profits. Small companies with annual taxable profits of less than TT$1 million are subject to a lower tax rate of 20%. Companies must file a corporation tax return and pay any taxes owed within four months of the end of their financial year.
Personal Income Tax: Individuals are subject to a progressive income tax system, with tax rates ranging from 0% to 30% depending on their income level. For the tax year 2022, the tax-free threshold is TT$72,000, with tax rates ranging from 0% to 30% on income above that threshold. Individuals must file an income tax return and pay any taxes owed by April 30th of the year following the tax year.
Value Added Tax (VAT): Trinidad and Tobago has a VAT system in place, with a standard rate of 12.5% on most goods and services. Some items, such as basic food items, pharmaceuticals, and educational materials, are exempt from VAT. Businesses must register for VAT if their annual taxable turnover exceeds TT$500,000. VAT returns must be filed and any taxes owed must be paid on a monthly or quarterly basis.
Property Tax: Property owners in Trinidad and Tobago are subject to an annual property tax, which is calculated based on the assessed value of the property. The property tax rate is currently 3% of the assessed value for residential properties and 5% for commercial properties. Property owners must file a property tax return and pay any taxes owed by the last business day in September each year.
Other Taxes: There are also other taxes in Trinidad and Tobago, such as withholding taxes on dividends, interest, and royalties paid to non-residents, as well as various import and excise taxes on certain goods and services.
Taxpayers in Trinidad and Tobago can file and pay their taxes online through the TTRA website, or through authorized banks and other financial institutions. The TTRA provides a calendar of tax deadlines and due dates for each tax type, which is available on their website.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
Articles
<txtStatus>
<txtSaving>
Please complete the form with attention to detail. Once submitted, our team will review the information. Following this, you will receive a confirmation and an invoice via email.