St. Lucia International Business Company (IBC) Formation

Saint Lucia is a sovereign island country in the eastern Caribbean Sea.

Having a modern legal and financial framework, through the International Business Companies Act 1999, it is a relatively new jurisdiction in the offshore financial services market.

Having strong anti-laundering and anti-fraud policies, has helped to maintain the St. Lucia as a secure and reliable jurisdiction.

Offering a variety of offshore products and services in a variety of sectors, such as an offshore trust, Mutual Fund Company, insurance company and offshore bank formation opportunities, can be used in conjunction with a St. Lucian IBC, making it a favourable jurisdiction for formation.

  • No or Low Tax
  • No Exchange, Currency or Capital Controls
  • International diversification for Financial Security
  • Elimination of Stamp Duties
  • Privacy – Confidentiality for Directors and Shareholders
  • Strict Anti-Laundering and Fraud Laws
  • No Audit or Annual Filing Required (Unless the IBC elects to pay 1% Tax)
  • Modern Incorporation Laws
  • Fast Incorporation
  • Minimum Disclosure Requirements
  • Low Annual Government Fees
  • Meetings can be held anywhere in the world
  • Financial Records are not mandatory
  • No Reporting Requirements
  • The use of Nominees Directors and Shareholders are permitted
  • E-Commerce Companies
  • Asset Protection
  • Offshore Savings and Investments
  • International Trading Company
  • Tax Planning
  • Holding Services
  • Financial Management
  • Professional Service Company
  • Captive Insurance, Reinsurance, Life and General Insurance

A St. Lucia IBC is restricted from conducting business with residents of St. Lucia or to operate a real estate business in St. Lucia. It is also restricted in the ownership of real estate in St. Lucia (Permitted only for the purpose of its own operations).

There is also a restriction on conducting business in banking, trusts, insurance or to provide company management services without the appropriate license being granted.

A few of the requirements to form a St. Lucia IBC are; certified copies of valid passports or national ID cards, such as those issued in the European Union, for each Director and Shareholder of the company), Proof Of Address, such as a utility bill for each Director and Shareholder – These need to be certified by either a Notary Public, Bank or by the issuing country’s Embassy. A Bank Reference and a Legal reference for each Director and Shareholder.

After Filing of the above, documents stating, the proposed name of the company and the share capital and par-value (or non par-value) of shares, also need to be submitted.

Overview
Company TypeIBC
Country Law

Hybrid

Civil and British Common Law

Company Law

International Business Companies Act 1999

Three amendments 2000-2001

Registered Office RequiredYes
Local Registered Agent RequiredNo
Shelf Companies PermittedYes
Migration Of DomicileYes
Average Time To Form Company2 to 3 Business Working Days
Government Fees
Minimum Government Formation Charge$300 USD
Recurring Minimum Annual Company License Fee$300 USD
Annual Return Filing FeeNot Applicable
Corporate Tax
Corporation TaxNo - If company elects to have exception. Otherwise 1%
Access to Double Taxation TreatiesNone
Directors
Minimum Required Directors1
Local Director RequiredNo
Records PublicNo
Board Meeting LocationNot Required, Anywhere in the World
Corporate Directors PermittedYes
Privacy - Publicly Available RecordsNo

There is a minimum requirement of one Director, of which may be the only shareholder. Directors can be either individuals or corporate bodies of any nationality and resident of any country.

Company Secretary
Secretary RequiredNo - but recommended
Local or Qualified PositionNo
Share Capital
Standard Currency

Eastern Caribbean Dollar is the official currency

US Dollar is also commonly used

Permitted Share CurrencyAny
Minimum Paid Up SharesNo Minimum
Usual Authorised$50,000 USD
Bearer Shares PermittedNo
No Par Value Shares PermittedYes
Shareholders
Minimum Number Of Shareholders1 Shareholder
Corporate Shareholdes PermittedYes
Meeting LocationsCan be held anywhere in the world
Privacy - Publicly Available RecordsNo
Company Accounts
Requirements To PrepareNo
Audit RequiredNo - Unless the company elected to pay Tax
Keep Financial RecordsYes
Requirement To File AccountsNo
Requirement to File Annual ReturnNo
Accounts Publicly AccessibleNo

St Lucia IBC are exempt from paying taxes unless it elects to pay income tax at the rate of 1%. There are no other taxes such as stamp duty or capital gains tax.

If an IBC wishes to utilise the CARICOM Double Taxation Agreement, it can elect to pay 1% Tax. The tax which is paid in St. Lucia then all transactions and payments to any other CARICOM Member country are made Tax-Free.

St. Lucia Facts
Location

Island Country in Eastern Caribbean Sea

on the boundary with the Atlantic Ocean

SizeApproximate area of 617 sq. km
PopulationApproximately 173,765
Languages Spoken

Official Language is English

Other Language Include:

Saint Lucian Creole

French

CurrencyEast Caribbean dollar (XCD), however the US Dollar use is widespread
Politics

Parliamentary Democracy under Constitutional Monarchy

Economy

Main Industries:

Tourism

Agriculture

Transport

Air

Road - Driving on the Left

Boat

Time Zone

UCT GMT -4

International Dialling Code+1-758
Internet TLD.lc

Contact us today to enquire about the Cost of Formation or if you have further questions regarding the application process.

St. Lucia International Business Company (IBC) Formation Enquiry

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