Tobago

What is the climate of Tobago?

Trinidad & Tobago is situated in the Tropics.

The islands of T & T are warm all year round, with a mean air temperature ranging between 32 degrees Celsius (90 degrees Fahrenheit) at the maximum and 23 degrees Celsius (73 degrees Fahrenheit) at the minimum.

There are only two seasons, a 'dry' that lasts from about January to May and a 'wet' that lasts from June to December. The annual rainfall is approximately 2,000 mm and the average number of hours of daylight is approximately 11 hours per day.

The country lies outside of the hurricane belt and is sheltered from typhoons.

What is the Tobago Currency System?

The Trinidad & Tobago Dollar (TT) is the official currency. The exchange rate is currently approximately US$ 1 = TT$ 6.23 or L1 = TT$ 9.16.

What is the cost of living in Tobago?

The twin- island Republic of Trinidad & Tobago is located at the southeastern edge of the Caribbean Sea, only seven miles off the coast of Venezuela. It has a population of about 1.27 million people and a GDP per capita approximating US $ 4900 which is considered to be towards the middle and upper end of the scale among Caribbean nations. It is the foremost economic partner and leading industrial producer in the Caribbean Economic Community (CARICOM).

Cost of Living
The inflation rate in Trinidad and Tobago was 3.4% at the end of 1999 and has remained under 11% over the last 10 years. The exchange rate has also remained fairly steady at approximately US$1.00 = TT$6.25 over the last two years. Prices of a sample of goods in Trinidad and Tobago follow.

Table 11.4.1
Sample of Prices in Trinidad and Tobago

As a non-national, can I buy a business in Tobago?

External companies can establish a place of business in T&T but are required to register within 14 days of its establishment. The procedure for this is available on demand.

If I choose to live in Tobago can I work there?

Under the Immigration Act Chapter 18:01 of Trinidad and Tobago, no person other than a citizen or resident is allowed to engage in any profession, trade or occupation whether for gain or not, or be employed, unless a valid work permit is in force in relation to that person.

Also included under the Immigration Act, is the allowance for a person other than a citizen or resident to be employed in Trinidad and Tobago for a maximum of up to 30 days at any one time in a 12-month period. This means that this person will be allowed to enter the country to work without a work permit only under the condition that he/she will be in the country for a period not exceeding 30 days and will not be re-entering the country within a 12 month period.

How to apply for a Work Permit.

Applications for work permits are made through the Work Permit Secretariat, of the Ministry of National Security. Investors may also make the application through TIDCO.

An individual cannot apply for a work permit on his own behalf. The application must be proposed by the Company with whom the individual will be employed in Trinidad and Tobago, the Joint Venture Partner, or by an Attorney.

Do I have to make a will in Tobago?

No. There is no law, which states that the making of a will is mandatory.

What is the policy on household pets at Tobago Plantations?

Consent of TPL is necessary for pets. Where consent is given no more than 2 are allowed.

Is the property freehold in Tobago?

There are freehold parcels of land in Tobago but at TPL, property is offered at a 999-year lease.

Are there any legal safeguards for foreign investors?

Investing in Trinidad and Tobago

Trinidad and Tobago is currently in the process of developing an Investment Promotion Act Legislation in respect of incentives and licences are expected to fall within this Act when passed and proclaimed.

Circumstances Under Which Licences Are Required

There is no approval or licence required for foreign investors in Trinidad and Tobago, except:

• to hold interest in land in excess of 5 acres for commercial purposes;
• to hold interest in land in excess of 1 acre for residential purposes;
• where the shareholding results in 30% or more of the total cumulative shareholding in local public companies, being owned by foreign investors;
• where a licence is required by anyone, whether national or non-national. (In such a case, an application would have to be approved by the Ministry or authority responsible for that activity, for example, drilling or mining activities, the Ministry of Energy; certain commercial activities, the Ministry of Trade and Industry; financial institutions, the Central Bank).

Where investors wish to obtain fiscal incentives offered by the government, an application and approval is required.

Applications for Incentives

Applications for incentives are made through TIDCO, which recommends to the various Ministries, whether a project should be approved for incentives. Final approval lies with the Ministries.

For the purpose of obtaining the incentives, Government is interested in factors such as:

• ¢ Environmental impact of the project
• ¢ Proposed value of the investment
• ¢ Employment potential of the proposed project, for nationals
• ¢ Net foreign exchange cash flow
• ¢ Local value added
• ¢ Potential export sales
• ¢ Value of imports of raw materials and other goods
• ¢ Potential income arising from taxes and duties imposed

A number of applications are processed by TIDCO then passed to the relevant Government Ministry for approval.

Can I resell my property?

Property can only be sold on handover to owner; however TPL reserves the right of first refusal and the exclusive right to sell it on island. Consequently if an owner wishes to sell his property, TPL must be so advised in writing and said property placed on the TPL inventory listing. The owner may sell the property off island i.e. through agents or direct anywhere other than in Trinidad & Tobago. Where the property is not sold by the end of six (6) year, the owner has the right to sell the property anywhere.

Can I apply for permanent residence?

Persons qualifying to apply for the status of residency are from the following categories: -

1. spouses of citizens or residents,
2. parents of citizens/residents, and
3. persons who have been working in the country for a cumulative continuous period of five (5) years.

Such persons by reason of their education, occupational qualifications, employment record, training skills, or other special qualifications, must be established or are likely to establish themselves successfully in Trinidad and Tobago in a profession, trade, self operating business or agricultural enterprise, and have sufficient means of support to maintain themselves and their immediate family in Trinidad and Tobago.

In determining the suitability of an applicant for residency, the Minister shall be satisfied that the applicant: -

1. had entered the country legally,
2. is not in a prohibited class, and
3. is of good character as evidenced by a Police Certificate of Character.

Should someone be granted residency he/she automatically has the right to work.