Profit company (incorporated under the Companies Act, Ch. 81:01)Trinidad & Tobago
What it takes to form, own and run a private limited company in Trinidad & Tobago, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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one or more persons may incorporate a company, with or without limited liability
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Every person engaged in the formation of the company (directors, incorporator(s), attorney-at-law) must have a CRA.
The registry鈥檚 and the law鈥檚 own pages do not mention it.
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry鈥檚 and the law鈥檚 own pages do not mention it.
- Formed online
- Yes
What it takes to form
- A notary
- Not stated
The registry鈥檚 and the law鈥檚 own pages do not mention it.
- A resident director
- Not required
- Paying up the capital
- A share may not be issued until it is fully paid, in money or in property or past service that is the fair equivalent of the money the company would have received; 'property' does not include a promissory note or a promise to pay (Companies Act, Ch. 81:01, s.34).
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A share shall not be issued until it is fully paid
Own it
Who may own and run it
- Directors
- At least 2 路 a company may be one
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Every person engaged in the formation of the company (directors, incorporator(s), attorney-at-law) must have a CRA.
- Shareholders
- At least 1 路 a company may be one 路 nominees allowed
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One person (an incorporator) may incorporate a company
- Members
- At least 1 路 one person may form it alone
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One person (an incorporator) may incorporate a company
- A local company secretary
- Not required
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may be an individual, a body corporate or a firm.
- A local registered agent
- Not required
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A company shall at all times have a registered office
Each year, at the registry
- Annual registry fee
- TTD 40
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Filing Fees: $40.00
- Accounts on the public record
- Not stated
The registry鈥檚 and the law鈥檚 own pages do not mention it.
- Audit for a small company
- Not stated
The registry鈥檚 and the law鈥檚 own pages do not mention it.
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
- Annual return
- Each year, on the anniversary of incorporation
With Companies Registry
Annual return due not later than 30 days after the anniversary of incorporation. Per the registry FAQ.
- Notice of Change of Directors
- 1 month after change of officers
With Companies Registry
Within one month after a director is appointed or ceases to be one. Per the registry FAQ.
- Notice of change of address of the registered office
- 15 days after change of registered office
With Companies Registry
Companies Act s.176(2): within fifteen days of any change of the address of the registered office.
What is public
- Directors
- Public
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A person who has paid the prescribed fee is entitled, during normal business hours, to examine
- Shareholders
- Public
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A person who has paid the prescribed fee is entitled, during normal business hours, to examine
Tax
Tax on profit
How this company type is taxed, which can differ from its place鈥檚 headline rate.
Varies 路 30%
Corporation tax on chargeable profits: the Board of Inland Revenue page states 25% to 2016, 25% up to $1,000,000 and 30% above for income year 2017, and 30% for income year 2018 (the latest year it states); petrochemical companies pay 35%. Business levy 0.6% and Green Fund levy 0.3% of gross sales or receipts are separate.
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For Income year 2018 the rate has been adjusted to 30%.
- CFC rules in Trinidad & Tobago
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Voluntary winding up under the Companies Act: by special resolution of a general meeting (or by ordinary resolution in the cases of s.405(1)(a) and (c)); the company gives notice of the resolution in the Gazette and in writing to the Registrar within 14 days (ss.405-406). The Registrar may also strike off a company he has reason to believe is not carrying on business (s.461).
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if a general meeting so resolves by special resolution;
- Statutory fee
- Not in our records
Every business in Trinidad & Tobago
VAT
- Standard rate
- Not in our recordsThe tax authority鈥檚 pages have not been read for Trinidad & Tobago.
Payment and banking services
None of the services whose lists we hold names Trinidad & Tobago. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Private limited companyDerived our grouping, the same words in every country
- Name in law
- Profit company (incorporated under the Companies Act, Ch. 81:01)
- Identifier
- TT-PROFIT-COMPANYA form ISO 20275 does not list.