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Qualified Investment Company (QIC) Assessment Process

Under the Venture Capital Act of 1994, the QIC must meet these requirements before being assessed for a possible venture capital investment:

  1. Be either incorporated or continued under the Companies Act, 1995, or designated a CARICOM enterprise under the CARICOM Enterprise Act
  2. Have under $50 million issued and fully paid-up capital
  3. Not be established for the purpose of carrying on any of the prohibited categories of business as outlined below:
    1. Financial services
    2. Retail services
    3. Property management or the rental, leasing or improvement of land*; and
  4. Customs brokerage

Funds cannot normally be used for lending, purchasing securities, acquiring land, entering into non-arm’s length transactions or investing outside of Trinidad & Tobago except where the investment is directly in support of the activities of the QIC

(* Note that the above exclusion does not apply to hotel and tourism development projects 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)

 

Venture Capital Equity Fund Limited

Victor E. Bruce Financial Complex
6-10 Post Office Street 
Scarborough 90012
Tobago

Phone: 868-299-0771 ext. 2702; 2705
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.