You have decided its time to register your business, that's great. In order to do so there are a few steps you will have to follow. For the purpose of this blog i would provide information below on how to register a sole trader business (person who owns the business exclusively and is entitled to all profits after tax) in Trinidad and Tobago.
If you reside in Trinidad and Tobago and are you venturing into a partnership type or other business type log onto ttconnect for further information.
Phase 1: Name search/approval- this is where you apply to do a search on the chosen name of your business to check for availability. The following documents listed below must be dropped off at the Ministry of Legal Affairs:
- Recent utility bill in your name as proof of address
- Copy of National ID
- Completed application form
- Application cost of TTD $25.00
Note that name search takes a couple of days. If the name is unavailable brainstorm for another.
Phase 2: Now that your business name is available you now have the option to register with this name over the next few days by following the process listed below:
- Complete form
- Provide documents received showing name availability
- Application cost of TTD $220.00 at this date
Congratulations! You business is registered.
Now its time to promote your business! Stay tuned to next post.
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