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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.
Over 100 years of operating in the oil and gas industry enabled Trinidad & Tobago (T&T) to develop the requisite infrastructure of a manufacturing hub in the English-speaking Caribbean. The country is resourced with ready accessibility to an abundant and dependable supply of low cost energy that supports growth of large clusters of operations in the food and beverage, chemical/non-metallic minerals and assembly-type industries.
The investment opportunity exists for an investor to engage in the design, build and operations of a downstream fossil fuel chemical plant, refinery or factory that may derive revenue streams from chemicals such as, but not limited to Ethylene, Propylene, Butadiene, Benzene, and Melamine.
China currently dominates the global LED market, however Trinidad and Tobago offers an opportunity for the location of an LED manufacturing operation. Individual or integrated operations for making the LED Package and/or the Bulk Materials may be established with the advantage of close proximity to major markets such as the United States and Central and South America.
Trinidad and Tobago possesses the manufacturing capabilities, business environment and logistical advantages to be a regional hub for OEM battery manufacturing and assembly within the Lithium-ion segment. There is an opportunity for an investor to design, build and operate a battery manufacturing and/or assembly plant in Trinidad and Tobago focusing on the pack and module production stage and where the majority of production will be exported internationally.
A survey od scrap dealers indicated that the country's annual production of aluminium scrap is 6,240 tonnes, collected through twenty six (26) companies across the country. Regionally aluminium can be sourced with current estimates of 35-50 tonnes monthly due to an ban on scrap exports by the Governments of Jamaica, Guyana and the Bahamas. These Governments may reconsider exports of scrap to niche markets.
The manufacturing sector in Trinidad and Tobago benefits from Low Energy Costs, Skilled Labour, Customs Duty Exemptions, and Developmental Grants for Research and Development.
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T&T’s manufacturing industry includes 7 distinct sub-industries.
Food, Beverages and Tobacco - the largest sub-industry, includes the production of alcoholic and carbonated beverages, juices, cereals, chocolate, confectionery, canned foods, baked goods and tobacco products.
Source: Review of the Economy 2016 – Ministry of Finance, Trinidad and Tobago
Food, Beverages and Tobacco
Textiles, Garments& Footwear
Printing, Publishing etc.
Wood and Related Products
Chemicals &Non-Metallic Minerals
Assembly Type and Related Industries
Trinidad and Tobago has a:
Trinidad lies 11km, at its closest point, from the South American mainland, and approximately 19 km off the international shipping lanes to the USA and Europe. The country provides an ideal geographical location for importing raw materials from South American countries for processing and exportation. Its location below the hurricane belt minimizes operational downtime due to hurricane activity.
T&T is a member of the CARICOM Customs Union which gives it market access to 17 million people located among 15 member nations of CARICOM. CARICOM has also signed several bilateral trade agreements with various nations and entities, through which manufacturers located in T&T market have access to a global export market of approximately 965 million people.
T&T has two separate ports that handle international containerized cargo, as well as other types of cargo such as dry and liquid bulk and RORO carriers. These ports are located in the capital, Port of Spain, and the Point Lisas Industrial Estate. In 2016, Port of Spain had the 3rd highest container port throughput in the English speaking Caribbean.
Downstream energy commodities produced in significant quantities in T&T include urea, melamine, bitumen and asphalt. The country’s location also offers easy access to mineral rich South American countries including Colombia, Venezuela, Guyana, Suriname and Brazil.
T&T is 1st for cost effectiveness in Central America and the Caribbean. Electricity rates start as low as US $0.03 kWh, offering investors access to some of the lowest energy costs in the Western Hemisphere.
T&T has a workforce of approximately 649,100 persons. English is the native tongue and there is a high competency of Spanish as the country is only 11km off the coast of South America. Manufacturing industries benefit from skilled labour trained in Mechanical, Chemical, Instrumentation and Process Engineering, Management Studies and IT related disciplines.
Fiscal Incentives -
(i) Customs duties on the construction of an approved project;
(ii) Value Added Tax; and
(iii) Income tax on dividends or other distribution, other than interest, out of profits or gains derived from the manufacture of the approved product during the tax holiday period.
Import Duty Concessions -
Exemptions from Customs Duties on raw materials, machinery and equipment and in some cases packaging material.
Approved Small Company Status -
Approved Small Company Status is a designation granted to a Limited Liability Company, allowing it to derive a tax relief for a period of five (5) years.
Businesses in the Manufacturing sub-industries utilize a significant majority of approximately 35km2 allocated for industrial and business development in T&T through its state owned industrial parks. Currently, 19 industrial parks provide ready facilities to the 250+ local manufacturing companies throughout the country. An additional estimated 5.3 km2 of leasable land is currently available through state owned enterprises e TecK, e-idcot and the AATT.
Click here for information on Phoenix Park Industrial Estate
Cove Eco Industrial and Business Park
Tamana InTech Park