Why Your Business Name was Rejected?

Have you attempted to register a Sole Trader business in Trinidad. If your business name was rejected , I have included some reasons in my Youtube video.

See all our reviews on our Facebook page https://www.facebook.com/sydneygrouptt/

The Author is an Attorney at Law in Trinidad. She specializes in Anti Money Laundering and Financial Crimes.

#antoinettesydney #attorneyatlaw #soletrader #business #registration #company #asydneygrouptt #progress #progresschronicles #expert # riskconsultant

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Countering the Financing of Terrorism

What is Terrorism?
Terrorism is the calculated, premeditated use of unlawful violence to cause panic or advance a political, religious, ideological cause.

Financing of Terrorism
Funding of terrorism involves providing funds from both legal (personal donations and profits from businesses and charitable organizations ) and or illegal sources (the drug trade, the smuggling of weapons and other goods, fraud, kidnapping and extortion), directly or indirectly or knowing that the monies are to be used to finance terrorism activity or organizations according to FINTRAC.

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Terrorism is financed in order to:
Promote militant ideology;
Purchase food for recruits;
Purchase weapons;
Pay operatives;
Arrange for travel;
Train new recruits;
Forge documents;
Pay bribes;
Acquire land;
Stage attacks.

How to proceed when it is discovered that a potential or existing customer is a terrorist ?
As soon as a financial institution or listed business receives the list of designated entities or the consolidated list referred to in section 22AA(2)(c) or (e), the following procedures shall apply:
(a) the financial institution shall immediately inform the FIU on the prescribed form, if any person or entity named on either list has funds with the financial institution or listed business;
(b) if the financial institution or listed business has reasonable grounds to believe that a person or entity named on either list has funds in Trinidad and Tobago, it shall immediately inform the FIU on the prescribed form;
(c) (Deleted by Act No. 14 of 2012); and
(d) if a person or entity named on that list attempts to enter into a transaction or continue a business relationship, the financial institution or listed business shall submit a suspicious activity report to the FIU immediately and shall not enter into or continue a business transaction or business relationship with such person or entity.

The law requires that the transaction and by extension, the business relationship be brought to an end and a Suspicious Activity/Transaction Reported be submitted by the Compliance Officer to the FIU.

See
Anti Terrorism Act of Trinidad and Tobago,PART III FINANCING OF TERRORISM 22AB

The author is an attorney at law in Trinidad. She specialises in Anti Money Laundering and Financial Crimes. Website http://asydneygroup.com

#cft #aml #antimoneylaundering #complianceofficer #compliance #consultant #sydney #sydneygroup #money #financing #progress #progresschronicles #progressgoddess #masterhustler #caribbeanwriter #author #lawyer

How to conduct EDD on PEPS? Free AML Training 2019

The following steps are required to conduct Enhanced Due Diligence (EDD) on Politically Exposed Persons (PEPS):

See Website http://asydneygroup.com

SUBSCRIBE to my Youtube Channel for free FIU Training.

  1. Ensuring that appropriate risk-management systems are in place to determine whether the customer or the beneficial owner is a PEP, or immediate family member or close associate of a PEP (Reg. 20 (2);
  2. Obtaining senior management approval BEFORE establishing (continuing, for existing customers) the business relationship (Reg 20 (4);
  3. Ensuring that reasonable measures are taken to determine the source of wealth and source of funds (Reg. 20 (5); and
  4. Conducting enhanced on-going monitoring of the business relationship (Reg. 20 (5).

The author is an attorney at law based in Trinidad . She specialises in Anti Money Laundering and Fraud and Risk Management.

Website : http://asydneygroup.com

#aml #freetraining #riskconsultant #antoinettesydney #edd

What are PEPS? Free AML Training

PEPS- refers to Politically Exposed Persons.

These are persons entrusted with a prominent public function. There are various categories of PEPS such as foreign PEPs, domestic PEPs and International Organization PEPs.

According to FATF these PEPS are deemed to be higher risk customers because they can use their status and influence to commit money laundering offences and other predicate offences.

This week on my Youtube Channel I explore the following topics:

What are PEPS;

What are the various Categories of PEPS?

Why are PEPS deemed to be higher risk customers?

How to conduct EDD on PEPS?

100 % Free AML/FIU Training on my Youtube channel. Please Subscribe.

The Author is an attorney at law based in Trinidad. She specialises in AML and Fraud and Risk Management.

Website http://asydneygroup.com

#peps #amltraining #fiutraining #antoinettesydney #attorneyatlaw #pep #expert

WHICH BUSINESSES MUST REGISTER WITH THE FIU?

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It is imperative that Non Regulated Financial institutions and Listed Businesses register with the FIU in an effort to contribute to the development of the local economy.

Non Regulated Financial Institutions include:

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

Listed Businesses include:

  • 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 Author is an Attorney at Law based in Trinidad. She has specialized in Anti Money Laundering and Financial Crimes. She is also a Certified Fraud and Risk Manager.

100 % Free AML Training on my Youtube Channel.

Website :http://asydneygroup.com

Contact : 868 373-1166

#FIU #AML #CFT #LAW #RISK #CONSULTANT #ANTOINETTE #SYDNEY #EXPERT #ADVISOR #LAWYER #SPECIALIST #YOUTUBER #BLOGGER #WORDPRESS #ATTORNEY #ANTOINETTESYDNEY

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 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

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100% Free FIU Training available on my Youtube Channel.

What does the FIU do?

1.Acts as an autonomous independent body to serve as a national centre for the collection, analysis and dissemination of financial intelligence and information.

2.The FIU functions as a specialised intelligence agency for the receipt and analysis of STRs/SARs) and the dissemination of financial intelligence and information.

3.FIU acts as a Supervisor to monitor specified Supervised Entities and enforce compliance of AML/CFT (AML/CFT) obligations.

4.The FIU does not engage in investigative action, which is conducted by the Law Enforcement Authorities (LEAs).

The Author is an attorney at law based in Trinidad. She specializes in Anti Money Laundering and Financial Crimes. She is also an Internationally Certified Fraud and Risk Management Professional.

Website :http://asydneygroup.com

Contact 868 373-1166

#fiu #antoinettesydney #commerciallaw #riskconsultant #attorneyatlaw #expert #specialist #aml #cft

Penalty for late filing of Annual Return by Company in Trinidad

The penalty for late filing of Annual Returns in Trinidad and Tobago is $300.00 TTD . This penalty is imposed 30 days after the anniversary of the incorporation date of the company and an additional $300.00 will be payable for every month that the annual returns remains outstanding.

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 868 373-166

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 .

#annualreturns #company #faith #legalaffairs #businessowner #entrepreneur #incorporator #sydney #trinidad #lawyer #million #millionaire #businesregistration #mla #fiu #listedbusiness #success #asydneygroup.com

Call Sydney 868 373-1166 ,if you need to close/dissolve/de-register your company.

Youtube Channel:

How to Register an External Company in Trinidad ?

File the following documents at the Companies Registry in Trinidad :

Form 20-the Application for Registration of an External Company;

Certified copies of the corporate instruments of the external company;

An Affidavit or Solemn Declaration of an Officer of the Company;

Form 32-a Statutory Declaration of an Attorney at Law;

Form 22-a Power of Attorney.

The Author is an Attorney at Law based in Trinidad and Tobago. She specialises in Financial Crimes and Commercial Law.http://asydneygroup.com

868 373-1166

#foreigncompany #externalcompany #trinidad #localoffice #businessregistration #lawyer #incorporation #expert #antoinettesydney #sydneygroup #asydneygroup

Must all employees of Listed Businesses complete FIU Training?

Yes from director to door man. Rest easy, I have uploaded 100% free AML Training Sessions on Youtube.

Please subscribe for the other 20+ videos for the 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 868 373-1166

#compliance #aml #consultant #risk #trinidad #attorney #lawyer #commercial #lawyer #expert #amlexpert #Antoinette #sydney # #freetraining #freefiutraining #freeamltraining #fors #fiu #fiuexpert #cft #counteringthefinancing #fiu #asydneygroup