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VCIP - Registering as a Venture Capital Company (VCC)


An entity must register as a Venture Capital Company (VCC) before it can make investments in a small or medium business venture in order to receive tax credits available through the Venture Capital Incentive Programme (VCIP).




What entities are qualified to register as a VCC?

In order to register as a Venture Capital Company (VCC) an entity must, among other things:

  • Be incorporated or continued under the Companies Act,1995.
  • Never have previously carried on business.
  • Within 30 days of its registration establish and maintain a place of business in Trinidad and Tobago.
  • Have a name or description that includes the words "Venture Capital".
  • Have authorized capital comprising equity shares only.
  • Have paid-up equity capital of not less than TT$50,000 and not more than TT$100,000,000.

 

Once registered, the VCC:

 

  • Is required to have paid-up equity capital of TT$500,000.00 within 12 months of registration.
  • Must have invested 50% of the equity capital raised within the first year of registration, on or before two years of registration.

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What is the process for registering as a VCC?

Entities interested in registering as a VCC should obtain and complete a VCC Registration Form, which can be downloaded by following the link at the bottom of this section.  Requests for the form can also be made by phone, email or in person from the VCIP Office of the Administrator.

 

Office of the Administrator

 

Venture Capital Incentive Programme

36 Pembroke Street

Port of Spain

Trinidad, West Indies 

Tel. (868) 624-3068/3081/3085

E-mail: vcip@carib-link.net

Opening hours:  8:00 am to 4:00 pm, Monday to Friday, except public holidays
 

The following items should be attached to the completed form: 

  • A VCC Business Plan on how the VCC will raise and invest its equity capital.  This business plan must include the following information:
    • Background information or personal resumes of the people involved in the VCC (i.e. directors. officers, major shareholders, and fund managers).
    • A description of the planned share issue(s) (i.e. dollars, numbers, timing and how they will be accomplished (e.g. public offerings, etc.).
    • General details regarding the QIC(s) to be invested in or, if unknown, the investment philosophy of the VCC (i.e., financing stage, business sectors).
  • A VCC Funds Report, which is included with the VCC Registration Form.
  • A Notice of Directors and Officers Form, which is included with the VCC Registration Form.
  • A Share Purchase Report, which is included with the VCC Registration Form.

 

Forms should be completed in accordance with the included instructions and returned, with all required documentation, to the VCIP Office of the Administrator at the address above.

 

 

 

 

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Where can I find more information about the VCIP?

More information can be obtained from the Office of the Administrator at the address above, or on the VCIP website.

 

Venture Capital Incentive Programme

 

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