What does AAL mean?: AML Compliance Consultants

AAL is an acronym for Attorney at Law. Lawyers are required to be registered with the Financial Intelligence Unit once they provide certain services. After registering with the FIU, a Compliance Officer and Alternate Compliance Officer must be appointed, a Compliance Program must be created.

The author is the first Online Lawyer based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

Website: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Services include:

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

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

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How to Register with the Financial Intelligence Unit (FIU) in Trinidad?AML Compliance Consultants

What is the FIU?

The FIU is the  primary institution for the collection of financial intelligence and information and the analysis, dissemination, and exchange of such financial intelligence this will also include information among law enforcement authorities, financial institution and listed businesses


Which businesses are required to register with the FIU?

Non Regulated Financial Institutions[3]

  • Credit Union
  • Building Society
  • Money or Value Transfer Services

Listed Businesses[4]

  •  Motor Vehicle Sales
  • Real Estate
  • Gaming House
  • Pool Betting
  • National Lotteries On-Line Betting Games
  • Jeweler
  • A Private Members’ Club
  •  An Art Dealer
  • An Accountant, an Attorney-at-law or other Independent Legal Professional
  • Trust and Company Service Providers 

The FIU Form RG 1 must be printed from the FIU website and completed. This form must be submitted to the office of the Financial Intelligence Unit within three months of the registration of the company or business. Within 14 days the FIU will confirm receipt of your registration documents by email or phone call. The FIU will indicate whether your certificate is ready for collection.

What is the penalty for failing to register with the FIU?


What is the penalty for failing to register with the FIU?

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The author is the first Online Lawyer  based in Trinidad and Tobago. She specializes in Corporate Law and Financial Crimes.

Request a quotation: 868 373-1166

Website: http://asydneygroup.com

Services: AML Audits;

AML Compliance Program;

AML Training;

Consulting

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[1]http://www.investopedia.com/terms/a/aml.asp

]http://www.fiu.gov.tt/about_fiu.php?mid=3

3]http://www.fiu.gov.tt/about_fiu.php?mid=4

[4]http://www.fiu.gov.tt/about_fiu.php?mid=4

How do you create Cash Flow Projections to open Business Business Bank Account ?

There are two important aspects of a Cash Flow Projection:

1.An estimation of the total income that the business will receive in 1 month;

2.An estimation of all the expenses incurred by the business in 1 month.

For assistance with Cash Flow projections call Sydney 868 373-1166

Income

In order to determine the income that your business generates, you should be keeping a great record of all the money that you receive. It can be as simple as having a receipt book or using an excel sheet to list the amount of money earned. It can be more sophisticated by using accounting software or an application on your phone. As a business owner you must keep track of all the cash earned in order to determine how to make improvements to ensure that the business is sustainable.

For assistance with Cash Flow projections call Sydney 868 373-1166

Expenses

You should also have a well maintained record of the money that you are spending to further the business. You may keep a folder to store all receipts and log the respective sums in it. You may find that some expenses are fixed and are incurred monthly. Some examples of expenses are travelling expenses, raw materials.

For assistance with Cash Flow projections call Sydney 868 373-1166

You will basically subtract your expenses from your income to show whether the business is making a profit or a loss.

The author is an attorney at law based in Trinidad and Tobago. Please see: http://asydneygroup.com 

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Call or whatsapp 373-1166

HOW TO BECOME A LAWYER IN TRINIDAD?

Check out my New Youtube Video.

Call or Whatsapp 868 373-1166

Website: asydneygroup.com

Email: asydneysolutions@gmail.com

The Author is an Online Lawyer based in Trinidad.

She is a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

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What ARE Annual Returns ?

This Document Presents An Up To Date Snapshot Of All Directors And Officers Of The Company, Share Capital As Well As Company Debts.

When Conducting Company Business, Banks And Other Stakeholders Will Request The Most Recent Annual Returns.

When Should A Company File An Annual Return??

The Law States That A Company Should File An Annual Return No Later Than 30 Days After Each Anniversary Date Of Its Continuance, Incorporation Or Amalgamation At The Companies Registrar.

The Author is an Online Lawyer based in Trinidad and Tobago.

She specialises in Corporate Law and Financial Crimes.

She is a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

Website : http://asydneygoup.com

Call or Whatsapp 373-1166

Email : asydneysolutions@gmail.com

How to Open a Bank Account in Trinidad: Salaried employees

When was the last time that you opened a business account at a financial institution ?

You were required to produce a list of documents were you not? The banker may have asked you whether you are employed or a business owner.

If your response was an employee then the following are the required documents :

Two forms of Government issued,photo identification,must be valid ;

Job letter ,must not be dated more than 3 months ;

Payslip ,must not be dated more than 3 months ;

Proof of address ,e.g. utility bill ,must not be more than 3 months old .

If the utility bill is not in the name of the applicant ,an authorization letter ,signed by the person whose name appears on the bill . This person must also submit a copy of valid ,Government issued ,photo identification.

When your banker asks you for these documents ,please be reminded that this is in order to comply with Financial Regulations. Your banker will also present you with a number of forms for your review and signature .

Sydney 868 373-1166. See Website http://asydneygroup.com

About the Author:

The author is an attorney at law based in Trinidad. She has a specialised practice in Commercial Law and Anti Money Laundering.

Youtube Channel:


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What is AML?

AML is an acronym for Anti Money Laundering. There is an evolving jurisprudence around this subject matter. I have prepared a free training session on this on Youtube.

See my Youtube video explaining Anti Money Laundering. Please Subscribe for the other 20+ AML Training sessions .

The author is an attorney at law based in Trinidad and Tobago. She specializes in Anti Money Laundering and Financial Crimes.

Website:http://asydneygroup.com

Call or whats app 373-1166

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How Do You Register Your Business in Trinidad ?

There are  two steps in registering a business as a sole trader in Trinidad and Tobago namely:

  1. Application for Name Approval/Name Reservation and;
  2. Preparing and filing the Application for Registration by an Individual.

Call Sydney for further assistance 868 373-1166, website http://asydneygroup.com

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.

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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.

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A.Sydney is an attorney at law by profession in Trinidad and Tobago. She specializes in AML/CFT Compliance, Taxation and provides Corporate Secretarial Services.

Kindly explore the website for her portfolio of companies: http://asydneygroup.com

Call or whats app 868 373-1166

Add her social media accounts:

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

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

Linked In: https://www.linkedin.com/in/sydney-group-238922141

Updated 11th February 2019

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What is Dissolving a Limited Liability Company?Trinidad and Tobago

Dissolving a limited liability company means striking it off the Register of Companies and closing down the company. The matter is intricate because there are employees involved as well as creditors.

In order to dissolve a limited liability company in Trinidad and Tobago, an application must be filed requesting that the company be struck off the Register of Companies. The name of the registered company, the registration number, incorporation date must be included. A detailed explanation must also be given to justify the request.

Within 6 months’ notice will be given in the Gazette of your request to be de-registered. At this juncture, persons with an interest in your company may come forward.


The author is an attorney at law in Trinidad and Tobago. She specializes in Corporate Law and Financial Crimes. She is a Certified Anti Money Laundering and Financial Crimes Expert. She is also a certified Trainer and Fraud Risk Manager. 1

Kindly explore the website for her portfolio of companies: http://asydneygroup.com

Call or whats app 868 373-1166

Add her social media accounts:

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

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

Linked In: https://www.linkedin.com/in/sydney-group-238922141

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Annual Return Form in Trinidad

Congratulations on registering your limited liability company. Please be gently reminded that there a few post-registration considerations such as tax compliance, AML/CFT/FIU compliance for listed businesses and the filing of annual returns with the Companies Registrar every year.

For further assistance, contact Sydney 868 373-1166

http://asydneygroup.com

Importance of an Annual Return

An Annual Return is critical to a company since this document presents a correct, updated reflection of the company’s state of affairs. This documents presents an up to date snapshot of all directors and officers of the company, share capital as well as company debts. Once this document is filed at the Companies Registry, this information will be registered with the Registrar. When conducting company business, banks and other stakeholders will request the most recent Annual Returns. From this document all present company officers and company debts can be discerned.

When should a Company file an Annual Return?

The law states that a company should file an Annual Return no later than 30 days after each anniversary date of its continuance, incorporation or amalgamation at the Companies Registrar.

What happens if a company fails or refuses to file an Annual Return?

Where a Company fails or refuses to file a document with the Registrar within the time specified in the Act, the Registrar shall be entitled to collect from that Company a penalty of one hundred dollars ($300.00) for every month or part thereof.

The Companies Act of the Republic of Trinidad and Tobago requires companies to file an Annual Return every year even if the company has not been trading. In accordance with Section 194 (1) of the Companies Act of the Republic of Trinidad and Tobago, each company must file an Annual Return no later than thirty (30) days after each anniversary date of incorporation in the applicable form. At any point, the officers of the company can change directors, corporate secretaries, issue shares or acquire loans and these changes must be captured in the Registrar’s records of the company.

The following must be updated in the Annual Returns:

(a)Name of the Company

(b)The Registered Office of Company

(c) The Anniversary date of the Company

(d) Share Capital

(e)Authorized Share Capital

(f) Details of the persons holdings shares in the company

(g) The Total amount of indebtedness of the company (loans, mortgages, charges)

(h) Updated details of all directors of the company

(i) Updated details of corporate secretaries

(j) Signature of the corporate secretary or the director

For further assistance, contact Sydney 868 373-1166

http://asydneygroup.com

Disclaimer

The content herein is provided for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney at law to obtain advice with respect to any particular issue or problem.

ABOUT THE AUTHOR:

A.Sydney is an attorney at law by profession in Trinidad and Tobago. She specializes in AML/CFT/FIU  Compliance, Taxation and provides Corporate Secretarial Services. Kindly explore the website for her portfolio of companies: http://asydneygroup.com .

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