There are two steps in registering a Partnership Business in Trinidad and Tobago namely:
- Application for Name Approval/Name Reservation and;
- Preparing and filing the Application for Registration by a Firm.
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1.The Name Approval / Name Reservation includes the applicants’ name, address, contact information, the proposed name of the business and the nature of the business.
The applicants sign 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 applicants return to collect the name search results, the query must be satisfied in writing. In the event that there are no queries, the applicants will collect the name approval and proceed the next step.
2.Preparing and filing the Application for Registration by a Firm.
At this juncture, the application for Registration by a Firm 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 applicants must be included in this form. Only the applicants can sign this form and a copy of photo identification must also be submitted with the application to verify the signature of the applicants. 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 applicants.
There is an additional requirement for a Partnership Agreement to be prepared that will state the percentage of ownership among other things.
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.
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