How do I dissolve a company in Trinidad?
To de-register, a request must be made in writing indicating the date the business has ceased trading or that the business’ annual revenue no longer exceeds TT$500,000.00, and is requesting de-registration. Please follow the link at the end of the next section to download the de-registration form.
Who is considered a beneficial owner of a company?
A beneficial owner is an individual who ultimately owns or controls more than 25% of a company’s shares or voting rights, or who otherwise exercise control over the company or its management.
What are the benefits of registering a business?
BENEFITS OF REGISTERING A COMPANY
- Obtain legal Identity/status.
- Safeguard your business name by acquiring a trade name.
- Access opportunities like loans, tenders, financing etc.
- Business formalization creates more employment opportunities through business expansion.
How do you wind up a company voluntarily?
Voluntary Liquidation or Voluntary Winding up of a company
- Step 1: Declaration of Solvency by Board / Designated Partners.
- Step 2: Identify an Insolvency Professional as Liquidator.
- Step 3: Convene Board Meeting.
- Step 4: Convene General Meeting of Shareholders.
- Step 5: Filings with Registrar of Companies and IBBI.
What is Canadian certificate of continuance?
A continuance allows a body corporate to effectively re-incorporate into another legislation. The certificate of discontinuance shows the same date as the date shown on the certificate of continuance issued by Corporations Canada. It is the date that the body corporate ceases to be governed by the previous legislation.
What is the difference between beneficial ownership and legal ownership?
Legally, an ownership can be classified into two; (1) legal and (2) beneficial ownership. A legal owner is a person who holds the legal title under his name, whereas a beneficial owner is a person who enjoys the benefits of ownership even though the title is in another name.
How do you verify beneficial ownership?
That is, covered financial institutions must identify each beneficial owner by obtaining their name, date of birth, address, and identifying number (such as a social security number or other identifying number permissible under the CIP rule), and verify their identities.
What is the Twelfth Schedule of the Companies Act?
The Twelfth Schedule deals with “Rules with respect to the Winding Up of Companies” and is incorporated in the Act as the SECOND SCHEDULE. The Thirteenth Schedule deals with “Rules in regards to Certified Copies, etc., required under the Act and as to General Forms” and is incorporated in the Act as the THIRD SCHEDULE).
What are the responsibilities of the Agla in Trinidad and Tobago?
The AGLA will carry out the responsibilities as outlined in the Constitution of Trinidad and Tobago and aligned with the Government’s Strategic Plan – Vision 2030 to ensure the developmental pillars of a modern legal and regulatory framework are implemented and made effective. Companies Registry Forms – Ministry of the AGLA
How does CAA require companies to disclose beneficial owners?
The CAA requires companies to ascertain their true owners and disclose same to the Companies Registry using newly published prescribed forms. We are pleased to share some insights into the new beneficial ownership requirements in the attached document.
What does ” former ACT ” mean in the Companies Act?
Sections 2, 3 and 4 of the Companies (Former-Act Companies) (Validation) Act, 2003 (Act No. 12 of 2003) provides as follows: 2. In this Act— “Act” means the Companies Act, 1995; “certificate of continuance” has the meaning assigned to it in Part V, Division 3 of the Act; “former-Act company” has the meaning assigned to it in section 4 of the Act.
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