There are two steps in registering a business as a sole trader in Trinidad and Tobago namely:
- Application for Name Approval/Name Reservation , this costs $20.00 TTD and;
- Preparing and filing the Application for Registration by an Individual, this costs $220 TTD.
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1.The Name Approval / Name Reservation includes the applicant’s name, address, contact information, the proposed name of the business and the nature of the business.
The applicant signs the bottom of the form, however an incorporator, accountant or attorney at law can sign for and on behalf of the applicant only with respect to the Application for Name Approval.
The relevant fees are paid to the cashier and the receipt is stamped with the date of return for the applicant. This is usually five to seven working days. If the Registrar has an issue with the proposed name, a query will be placed on the application. When the applicant returns to collect the name search results, the query must be satisfied in writing. In the event that there are no queries, the applicant will collect the name approval and proceed the next step.
2.Preparing and filing the Application for Registration by an Individual.
At this juncture, the application for Registration by an Individual must be completed and submitted together with the name approval that was previously collected. Details such as the business name, principal place of business, nature of the business, full name of the applicant must be included in this form. Only the applicant can sign this form and a copy of photo identification must also be submitted with the application to verify the signature of the applicant. The relevant fees are paid and the cashier issues a receipt with the stamped date for the applicant to return, usually five to seven working days. Once this application is approved, the certificate will be produced and ready for collection by the applicant.
Updated 17th September 2019
About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP, Bar No. SYA2015211, Attorney at Law. The author is the first Online Lawyer based in Trinidad and Tobago. SHE IS A LECTURER AT THE ARTHUR LOK JACK GLOBAL SCHOOL OF BUSINESS IN TRINIDAD. She has clients in Guyana, St Vincent, Barbados, the British Virgin Islands and North America. She specializes in Corporate Law and Anti-Money Laundering Compliance. She helps clients to start their Online Business Empire.
ANTOINETTE SYDNEY LAW OFFICE: MONTROSE MAIN ROAD CHAGUANAS, TRINIDAD AND TOBAGO
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