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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.
On Wednesday 2nd November, a groundbreaking ceremony to mark the beginning of the construction of a new 154 room Four Points by Sheraton Hotel and conference center, was held at the International Airport Estates – the Caribbean’s first Airport City, located at Piarco International Airport. The ceremony was hosted by hotel developers and designers, STAGES Group and Urbahn Achitects, who together founded Prestige Hotels Limited.
According to Mr Sekou Alleyne, President, InvesTT, “We are pleased to have facilitated the Four Points by Sheraton Hotel project over the past 5 years. In 2017 the Airports Authority of Trinidad and Tobago formally requested InvesTT’s facilitation services to advance the development of the project. As an investment promotion agency, we were able to initiate numerous strategic interventions with key stakeholders to fast-track applications and escalate issues on behalf of the project team. We are pleased to see the steady advancement of the project and wish to congratulate Prestige Hotels Limited, URBAHN Architects and STAGES Group Inc for embarking on this endeavour in partnership with Marriott International.”
Urbahn Principal Natale V. Barranco, AIA, LEED AP, announced that “in the near future, Prestige Hotels plans to expand its portfolio with the addition of both airport and resort hotels, including new properties in Guyana and on the island of Tobago.” Stacy Adams, Vice President, Investor Services, confirmed that “InvesTT will continue to provide facilitation services to Prestige Holdings Ltd during the expansion phase. We will provide assistance with the attainment of necessary approvals at the relevant time and will continue to facilitate meetings between Prestige Holdings Ltd and key stakeholders who can move the expansion project forward in a timely manner.”
Tamarco Edwards, Deputy Chairman and Founder of STAGES Group shared that “upon opening, expected in early 2025, this hotel property will predominantly serve business travelers, air crews, transit passengers, tourists, and guests of international and local events and conferences.” Inskip B. Pollonais, Chairman of Prestige Hotels Ltd. and Chairman of STAGES Group Inc. added that the vision is to “…construct a facility which concurrently enhances the business traveller and tourism experience by creating a business centre and an overnight oasis.”
Pramilla Ramdahani, Vice President, Investments, InvesTT stated that "the Four Points by Sheraton project will contribute to Trinidad and Tobago’s economic diversification agenda with its potential to boost the country's hotel industry through increased attraction of business travelers to the island. Currently, Trinidad is known as the business capital of the region and the establishment of Four Points by Sheraton will certainly add to the country’s appeal to investors."
Prestige Hotels Limited is 70% owned by STAGES Group and 30% by Urbahn Architects . Washington, D.C-based SEAF, via its SEAF Caribbean SME Growth Fund, is an additional equity partner. Marriott International, which owns the Four Points by Sheraton brand, serves as property manager.