Trinidad and Tobago 2012 - invesTT
Trinidad and Tobago 2012 - invesTT
Trinidad and Tobago 2012 - invesTT
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A GUIDE TO INVESTING IN TRINIDAD AND TOBAGO (<strong>2012</strong>)<br />
Section 7<br />
For more information, contact:<br />
Tourism Development Company Ltd<br />
Level 1 – Maritime Centre<br />
#29 Tenth Avenue, Barataria, The Republic of <strong>Trinidad</strong> <strong>and</strong> <strong>Tobago</strong>.<br />
Tel: (868) 675-7034/7<br />
Email: info@tdc.co.tt<br />
Website: www.tdc.co.tt<br />
FREE ZONES<br />
Free Zone incentives have been developed in <strong>Trinidad</strong> <strong>and</strong> <strong>Tobago</strong><br />
to promote the establishment of companies in <strong>Trinidad</strong> <strong>and</strong> <strong>Tobago</strong><br />
that export the majority of their goods <strong>and</strong> services. Free Zone<br />
companies generally produce large volumes of goods or services<br />
<strong>and</strong> therefore carry the potential for job creation in the country.<br />
Enterprises are approved by the Free Zones Company to operate<br />
in areas designated as free zones. The criteria for approval include:<br />
• A company incorporated or registered in <strong>Trinidad</strong> <strong>and</strong> <strong>Tobago</strong><br />
• Potential for job creation<br />
• New investment initiative<br />
• Contributions to the development of workforce skills<br />
• Access to overseas markets<br />
Free zone areas are designated by order of the Minister of Trade,<br />
Industry & Investment on the recommendations of the <strong>Trinidad</strong><br />
& <strong>Tobago</strong> Free Zones Company Limited. Sales into the customs<br />
territory are treated as extra regional imports.<br />
Free zone activities that qualify for approval include manufacturing<br />
for export, international trading in products, services for export <strong>and</strong><br />
development <strong>and</strong> management of free zones. Primary petroleum<br />
<strong>and</strong> natural gas projects or production activities in which petroleum,<br />
natural gas or petrochemicals are a major input would not qualify<br />
for free zone approval.<br />
The prescribed activities which may be carried on in a free zone<br />
include:<br />
• Warehousing <strong>and</strong> storing<br />
• Manufacturing operations<br />
• Transshipment operations<br />
• Loading <strong>and</strong> unloading operations<br />
• Exporting<br />
• Importing<br />
• Service operations including banking, insurance <strong>and</strong><br />
professional services<br />
Packaging <strong>and</strong> shipping<br />
• Assembling<br />
• Processing, refining, purifying <strong>and</strong> mixing<br />
• Merch<strong>and</strong>ising, including international trading on products.<br />
Banking <strong>and</strong> insurance activities carried on in a free zone are subject<br />
to the Financial Institutions <strong>and</strong> Insurance Acts respectively.<br />
Activities which qualify for tax incentives under the Free Zones Act:<br />
• Development <strong>and</strong> operation of Free Zones<br />
• Manufacturing<br />
• International Trading in Products<br />
• Services<br />
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