An Investment Opportunity Awaits You In Trinidad and Tobago
The Republic of Trinidad and Tobago (T&T) comprises two islands at the southern-most end of the Caribbean archipelago and has an exciting and diversified tourism product mix.
Tobago has unique tourism attractions and is a prime ecological destination, in contrast to the energized, fast paced and highly industrialized environment of Trinidad. Though only 21 miles long and 7 miles wide, its capacity to entertain and mesmerize is profound. The spirit of Tobago is unique and beckons you to invest in its adventure and relaxation.
The island is the second most southerly in the Caribbean, 20 minutes by plane and 2 1/2 hours by fast ferry from its sister isle, Trinidad. Tobago is also connected to North America, Latin America and Europe through direct flights from the UK, Germany, Scandinavia, USA, Brazil, Trinidad and Barbados.
Tourism continues to be a mainstay of the island’s economy. More than 56% of the island’s workforce is engaged in the tourism industry which accounts for almost 50% of Tobago’s total GDP.
Trinidad, the larger of the two islands, is the commercial and entertainment center of the Caribbean. The island is a destination for many business and leisure travelers. Major hotel brands such as the Hyatt Regency, Hilton, Marriott and Radisson are already operating and more assets will soon be added to cater for the strong demand.
Local hospitality schools churn out an ample supply of human resources to meet the increasing demand for what is considered by many to be the best experience & the best kept secret of the Caribbean.
After 140 years of success in energy, which paved the way for a ranking of 8th lowest cost per kw/hr in the world for electricity, T&T has developed into a favourable location for international investment, focusing on key non-energy sectors including Tourism. T&T is seeking investors for the development of prime properties on both islands.
Capital: Port of Spain (Trinidad), Scarborough (Tobago)
Population: 1.34 million
Size: 5,128 sq. km (combined)
Currency: TT dollar (TTD)
Magdalena Grand Beach & Golf Resort
An existing 200-room, four-star resort on Tobago’s south-western coast, the Magdalena is nestled in the tropical Tobago Plantations Estate - a community of luxury Tobago suites and villas around the Tobago Plantations 18-hole PGA-designed championship golf course.
Currently, Evolving TecKnologies and Enterprise Development Company Limited (e TecK) is seeking a Long-Term Operator for the Magdalena Grand Beach and Golf Resort.
The Tourism Development Act (TDA), 2000 (as amended) provides for benefits to be granted to the owners/operators of various types of tourism projects, once these projects have the potential of contributing substantially to the growth of the tourism sector.
Also, there are Customs and Excise Exemptions, where a person has been granted interim approval or additional interim approval for a tourism project, the Minister of Tourism may, upon application, grant that person:
- A permit for the importation of materials or entry into T&T free of customs for the purchase in T&T with the privilege of a drawback of customs duties or excise duties, of such building materials which are not already duty free and of such articles of tourism equipment,
- A licence to import vehicles with the payment of customs duty at a reduced rate of 10%.
The Government of the Republic of Trinidad and Tobago welcomes foreign investment and is committed to enabling legislation to provide a hassle-free business environment. There are no restrictions on repatriation of capital, profits, dividends, interest, distributions or gains on investment.
For more information on this opportunity contact:
Ms. Florence Ghany
Tel: 1 (868) 225-4688