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VCIP - Obtaining Qualified Investee Company (QIC) status


An entity must obtain Qualifying Investee Company (QIC) status before it can receive financing through the Venture Capital Incentive Programme (VCIP).




What entities are qualified to obtain QIC status?

To obtain QIC status, a small or medium business entity must:

  • Be either incorporated or continued under the Companies Act, 1995 or designated a Caribbean Community (CARICOM) enterprise under the CARICOM Enterprise Act.
  • Have under TT$50,000,000 issued and fully paid-up capital.
  • Not be established for the purpose of carrying on any of the prohibited categories of business outlined below:
    • Financial services.
    • Retail services.
    • Custom Brokerage.
    • Property Management or the rental, leasing or improvement of land for purposes other than hotel and tourism development as defined by Section 13A of the Income Tax Act, Chapter 75:01 and in Part II of the Hotel Development Act, Chapter 85:02.

 

The VCIP allows eligible businesses to use funds for capital expenditure and working capital.  However, the funds cannot normally be used for lending, purchasing securities, acquiring land, entering into non-arm's length transactions* or investing outside Trinidad and Tobago except where the investment is directly in support of the activities of the QIC.

 

 

Follow the link below for a definition of arm's length transactions.

 

Definition of "Arm's length transactions"

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What is the process for obtaining QIC Status?

Entities interested in obtaining QIC status should obtain the Qualifying Investee Company Form, which can be downloaded using 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 documents should be attached to the completed form:

 

  • A copy of the Company's Articles of Incorporation and certificates.
  • A copy of the Company's registers of allotments, members, and share transfers, which are required to be kept under the Companies Act, 1995.
  • A copy of the Company's Business Plan.
  • A copy of any agreement (or intended agreement) between or among shareholders of the Company.
  • A Notice of Directors and Officers Form, which is included with the Qualifying Investee Company 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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