Can I upgrade my Sole Trader to a Limited Liability Company in Trinidad and Tobago?

My new client told me that he already has a Sole Trader business and he now wants to change it to a Limited Liability Company. He told me that the business was performing well and was desirous of purchasing land. He wanted to buy the land in the name of his business. The bank informed them that the land can only be purchased in the name of a Limited Liability Company not a Sole Trader Business. The reason is that a limited liability company is a separate legal entity. A sole trader is not a separate legal entity recognized by law.

To learn the differences between a Sole Trader and a Limited Liability Company in Trinidad and Tobago , buy my eBook for only $19.99USD https://gum.co/XSBCN

You should consider upgrading to a limited liability if you want to:

Purchase land in the name of your company;

Purchase vehicles in the name of your company;

Gift your company to your children (sole traderships and partnerships cannot be passed down to anyone, the business ends with your passing.)

The process is so simple that you can do it on your own. If you need guidance to complete the forms correctly, buy my eBook NOW!! https://gum.co/qxbBF

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 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.

LAW OFFICE: MONTROSE MAIN ROAD CHAGUANAS, TRINIDAD AND TOBAGO

Email:sydney@asydneygroup.com

Website: www.asydneygroup.com

Consultation fee is $300 TTD per hour.

Blog: https://sydneygroupblog.wordpress.com/

Linked In: https://tt.linkedin.com/in/antoinette-sydney-77093550

Instagram: https://www.instagram.com/asydneygrouptt/?hl=en

Facebook: https://www.facebook.com/sydneygrouptt/

Youtube: http://www.youtube.com/c/AntoinetteSydney

I am a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

My eBooks are on Sale!!

How to Register a Limited Liability Company in Trinidad and Tobago: http://www.amazon.com/dp/B08792YRBP

How to Change the Name of a Limited Liability Company In Trinidad and Tobago https://gum.co/nAcRfg

How to Dissolve a Limited Liability Company in Trinidad and Tobago; http://www.amazon.com/dp/B087JKCQRB

How to Register a Sole Trader Business in Trinidad and Tobago: https://gum.co/emvCA

How to Change the Business Name of a Sole Trader in Trinidad https://gum.co/jkczu

How to change the Business Address of a Sole Trader Business https://gum.co/obgBY

How to Upgrade from a Sole Trader to a Limited Liability Company: https://gum.co/qxbBF

How to De-Register a Sole Trader Business in Trinidad and Tobago: http://www.amazon.com/dp/B087P1VKDD

How to Register a Partnership Business in Trinidad and Tobago https://gum.co/LwaaIE

How to upgrade from a Partnership to Limited Liability Company https://gum.co/pCXMN

How to De-Register a Partnership Business in Trinidad and Tobago https://gum.co/ReSobB:

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