Registration Of A Business : Trinidad And Tobago Essay
Step 1: Name Reservation - to register the business you must fill out an Application for Name Approval/ Name Reservation Form and submit it to the address of the Companies Registry which is
72-74 South Quay
Port of Spain
Trinidad, West Indies
The fee is $25.00 and opening hours of the Companies Registry are 8:00 a.m. to 4:00 p.m. Monday to Fridays except public holidays.
Also, this process is crucial for all business structure to go through since the Business Name Act prohibits the registration of identical names. Therefore, you cannot register your business name that another company is using, thus you must request the name search to know if someone else is using that name and this costs $20.00 per name search.
Step 2: You to complete and file the Registration of a Business Name form and submitted to the Companies Registry will the applicable fees. Also, as a Limited Liability Company as soon as your name is reserved you must file Articles of Incorporation and this can be download from the ministry of legal affairs site.
There are many reasons that support forming your own business as a limited liability company, however before you make such decision you must first look at and understand the advantages and disadvantages of this business structure.
Pros of Limited Liability
• Limited liability: This means…