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.
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/FIU Compliance, Taxation and provides Corporate Secretarial Services.
My free Anti Money Laundering Training for 2019 has been uploaded on Youtube. No tricks, just free. I realised the need for free Anti Money Laundering Training especially for owners of local businesses. These listed businesses are required to make arrangements for annual training of all staff and bear the cost of same.
I have prepared this free training in order to satisfy the requirement for Anti Money Laundering Training as mandated by Regulation 6 of the Financial Obligations Regulations, Proceeds of Crime Act in Trinidad and Tobago.
Kindly Subscribe in order to get the notifications for all my other videos.
These free training sessions have been specifically tailored for listed businesses such as car dealers, real estate agents, insurance agents, lawyers, accountants, casinos, jewelers in Trinidad and Tobago and the Caribbean.
This comprehensive FREE Training:
Defines Money Laundering:
Defines Anti Money Laundering;
Explains the 3 Stages of Money Laundering;
Discusses the Financial Intelligence Unit;
Explains Terrorist Financing;
Identifies Red Flags of Terrorist Financing;
An electronic copy of a Certificate of Attendance can be requested via email.
Other Services offered (Paid Services) :
Specialized Training offered for Front Line Employees, Managers, the Board of Directors;
External AML Audit;
Drafting Compliance Programs.
The author is an attorney at law in based in Trinidad, she has a specialized practice in Anti Money Laundering and Financial Crimes. Call or whatsapp 868 373-1166 and see website http://asydneygroup.com
Do not forget to remember to file your annual returns. I understand that running your company is a huge responsibility. You have deadlines, pressing matters, impatient clients. Your annual returns are due on the anniversary of incorporating the company. You will see the date of incorporation on the Certificate of Incorporation.
There is a time period of 30 days after the anniversary date also called a “grace period”. After this 30 day period elapses, a penalty of $300.00 per month will be incurred. This debt must be satisfied in full before any further Annual Returns can be filed.
The Ministry of Legal Affairs offers a service in Trinidad and Tobago, whereby a director and or corporate secretary will receive an email or SMS text message indicating that the Annual Returns are now due.
Kindly peruse the website of the Ministry of Legal Affairs in Trinidad and Tobago and look for the section with “SMS and Email Sign Up“.
If you run into any difficulties, do not hesitate to contact me:
The Author is an attorney at law based in Trinidad and Tobago. She is specializes in Financial Crimes. She is a Certified Anti Money Laundering expert and Certified Fraud Risk Manager.
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
Yes, you have to pay filing fees to the Registrar of Companies in Trinidad. There are two steps in registering a business as a sole trader in Trinidad and Tobago namely:
Application for Name Approval/Name Reservation and;
Preparing and filing the Application for Registration by an Individual.
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.
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.
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Get my ebook now!!! Call 868 373-1166 only $100TTD
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.
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 868 484-7778
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 .
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.
GET MY EBOOK FOR $100 TTD CALL OR WHATS APP 868 373-1166
The author is an attorney at law in Trinidad and Tobago. She specializes in Corporate Law and Financial Crimes. She is a certified Corporate Trainer, Anti Money Laundering Expert and Fraud Risk Manager.
There are 2 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.
Forassistance 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
Do you like coconut water? In the Caribbean islands, coconut water is a refreshing , healthy drink that can be purchased from vendors. These vendors usually sell from trucks,parked near public recreational spots. Apart from this, coconut water can be purchased in a store in a bottle. Some vendors have franchises and sell at different locations, they even operate on a shift system. The coconuts are purchased wholesale or are picked from coconut fields owned by the vendors.
I heard a rumor that some person raid fields that do not belong to them and then sell the coconuts wholesale. There is a jelly inside of the coconuts, that many people enjoy. Coconut water has great health benefits and so , many persons consume it for this reason.
This is a great idea if you have a connection to purchase the coconuts.
Contact me if you need any assistance in registering this business.
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