Expanding your business across international boundaries demands a meticulous approach that balances excitement with meticulous planning. Trinidad and Tobago, with its strategic location, vibrant culture, and burgeoning economy, presents a compelling destination for global business expansion. In this discourse, we delve into 5 Essential Steps to navigate the complexities of extending your business to Trinidad and Tobago.
Overseas or Foreign Entity Definition
An external company is an association, society, body or other group, formed under the laws of a country other than Trinidad and Tobago, which has been established as a body corporate with the authority, among other things, to regulate its own business, contract in its corporate name and acquire and hold real and personal property.
Where an external company establishes a place of business in Trinidad and Tobago, that external company must be registered, under the Companies Act, Ch. 81:01, within fourteen (14) days of such establishment. http://legalaffairs.gov.tt/registerexternal.php
Registering an External/ Foreign Company in 5 Easy Steps
Register for a Companies Registry Account (CRA) http://legalaffairs.gov.tt/
All individuals involved in registering a company, including directors, attorneys, at law, and persons named in the Power of Attorney to act as attorney/agent for the service of the company are required to have a Company Registration Account (CRA). To obtain your CRA please follow these steps.
STEP 1: Apply for an individual account.
- Provide your personal details, contact information, and address.
- Submit scanned copies of your birth certificate two forms of photo identification (ID) and a headshot alongside one of the submitted IDs held beside your face.
- If you need assistance, with creating your CRA feel free to reach out to the CROS Help Desk via email at [email protected]
STEP 2: Reserve the name of your company
- Securing a name reservation is a step, before registering a company as it provides a distinct reference number. This reference number plays a role in expediting the approval process for including Directors, in the registration. To start the name reservation you need to follow these guidelines:
- Log into your CRA and select the ‘Name Reservation’ service
- Complete a new external company name reservation
- Automatic Reservation
STEP 3: Consent
All individuals or entities who are part of the registration process, for the company must provide their approval to be included in the registration application.
To get approval from a company, the director or secretary of the company should follow these steps;
- Log in to their CRA (Company Registration Account) account using their director or secretary role.
- Go to the “My Company” section. Click on “Approval”.
- Enter the following required details.
- After receiving the approvals mentioned above they need to provide you with their company name and Company PIN. You will need this information to complete your application, for registering the company.
STEP 4: File the Company Registration Application
To have your company registered, you must first electronically file an Application for Registration. To file your application:
- Access your CRA account and opt for the ‘Registration/Incorporation’ service.
- Fill out the external company registration application and submit the necessary documents (both copies and originals), including the Power of Attorney and Consent to Act as Attorney Form 22.
- Proceed to make the payment.
- Following the processing of your payment, you will receive an email confirmation indicating the successful submission of your application. Your copy of the completed Application for Registration will also be included.
STEP 5: Deliver original documents for registration to the Registrar
To finalize the registration of your external company, the attorney-at-law or a director must personally deliver duplicate originals of the following documents to any RGD office:
-
- Certified Copy of the Corporate Instruments (uploaded in step 4)
- Power of Attorney and Consent to Act as Attorney (uploaded in step 4)
- Affidavit or Solemn Declaration of an Officer of the external company (sworn to before a Notary Public, verifying the particulars in the application) Specimen
- Statutory Declaration (sworn by an Attorney-at-Law of the Supreme Court of Trinidad and Tobago, confirming compliance with the requirements for external company registration) Form 32
- The details provided in steps (4) and (5) will undergo review by the Registrar. You will receive an email notification of the Registrar’s decision within a processing period of three (3) working days.
- Upon approval of the application, each director will receive an email confirmation of the successful registration of the company.
- Additionally, your copy of the registered Application for Registration will be included.
- The certificate of registration will be emailed to you as a PDF within two (2) working days.
Expanding your business to Trinidad and Tobago demands a meticulous strategy, and our concise 5 steps cover the essential steps. By following these steps diligently, you will have successfully registered your foreign company in Trinidad and Tobago, paving the way for a prosperous business venture.
Congratulations on this achievement! Wishing you continued success as you explore the exciting business landscape of these captivating islands.
