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Setting up a business in Trinidad and Tobago is quite straight forward.
The Government of the Republic of Trinidad & Tobago (GORTT) encourages foreign direct investment in almost all sectors, with specific focus on the non-energy targeted sectors.
Trinidad and Tobago's success in energy has fueled its rapid development into one of the most industrialized and cost-effective nations in the Caribbean and Central America.
Trinidad and Tobago is a twin island republic situated below the hurricane belt, at the southern-most end of the Caribbean archipelago.
Edan K. Properties manages many complex projects - from purchase to conceptualization, financing and site development. In its role as facilitator, InvesTT has worked alongside Edan K. and played a significant role over the years in the fast-tracking of processes required to implement multi-faceted development projects.
InvesTT facilitated company registration and access to import duty concessions for equipment, engaged the Ministry of Energy & Energy Industries on the placement and inspection of their LPG tanks as well as facilitated smooth entry at Immigration for foreign engineers needed to install equipment and train local staff.
Located in St. Augustine Trinidad, Virtana Inc. is an outsourcing company that delivers high quality robotics software solutions to international technology companies, utilizing engineering graduates based in Trinidad and Tobago.
Based on investor satisfaction surveys undertaken quarterly by InvesTT, the national investment promotion agency (IPA) records an average rate of 92% satisfaction with its investor services over the last 2 fiscal years and a rate of 90% satisfaction (year-to-date) with InvesTT in the last survey taken in March 2023.
Maintaining a high level of client satisfaction is part of the IPA’s strategy to generate more direct investment into the country. In the March survey, local and foreign investors who have engaged InvesTT’s investment facilitation services rated the agency highly (between 8 and 10 on a scale of 1 to 10, where 10 is the highest) in the following areas:
According to Sekou Alleyne, President InvesTT, “It’s not only about providing the required assistance to the investor for them to become operational in Trinidad. The client must feel welcomed, at ease and confident that they have come to the right location. InvesTT provides this experience by anticipating and understanding the needs of investors as well as the challenges that may arise and providing the necessary facilitation services to manage the process.”
The establishment of Summit (TT) Luggage Co. Ltd. in Trinidad is one of InvesTT’s most recent success stories and a good example of managing the investment process. Its Investor Services team worked hand in hand with Summit’s executives to make their experience a positive one by providing assistance with work permits, access to incentives, regulatory agency permits and post construction approvals.
During a recent tour by InvesTT of Summit’s factory at the e TecK Phoenix Park Industrial Estate, Sera Huang, Shipping Manager noted “Since we came to Trinidad, InvesTT has helped a lot. We faced a lot of questions during the initial stages especially with clearance of shipments, set up of the supply of electricity and water. InvesTT held meetings with the relevant authorities to get the issues resolved.”
Summit’s Production Manager Shelly Ann Alexis-Anderson, a local employee, reinforced Huang’s testimony sharing that InvesTT continues to be very responsive in addressing the challenges as they arise and assisting with the navigation of lengthy regulatory processes. She highlighted that InvesTT understands the need for speed as companies operate with deadlines that cannot be missed.
Summit chose Trinidad and Tobago to set up its luggage manufacturing assembly line in order to be closer to its North American export clients which include globally known luggage brand names. The company was attracted by InvesTT, in collaboration with the Beijing Construction Engineering Group and the Embassy of Trinidad and Tobago in Beijing. It is the first tenant to begin operating out of the 144-acre industrial park and the only manufacturer of hard-shell luggage in Trinidad and Tobago and the wider Caribbean region.
InvesTT continues to work with stakeholders to attract direct investment into sectors such as Nearshore Manufacturing, Logistics & Distribution, Industrial Maritime and Business Process Outsourcing.
For more information on setting up a business in Trinidad and Tobago, please email us at email@example.com