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.
Civil and British Common Law
International Business Companies Act 1999
Three amendments 2000-2001
|Registered Office Required||Yes|
|Local Registered Agent Required||No|
|Shelf Companies Permitted||Yes|
|Migration Of Domicile||Yes|
|Average Time To Form Company||2 to 3 Business Working Days|
|Minimum Government Formation Charge||$300 USD|
|Recurring Minimum Annual Company License Fee||$300 USD|
|Annual Return Filing Fee||Not Applicable|
|Corporation Tax||No - If company elects to have exception. Otherwise 1%|
|Access to Double Taxation Treaties||None|
|Minimum Required Directors||1|
|Local Director Required||No|
|Board Meeting Location||Not Required, Anywhere in the World|
|Corporate Directors Permitted||Yes|
|Privacy - Publicly Available Records||No|
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.
|Secretary Required||No - but recommended|
|Local or Qualified Position||No|
Eastern Caribbean Dollar is the official currency
US Dollar is also commonly used
|Permitted Share Currency||Any|
|Minimum Paid Up Shares||No Minimum|
|Usual Authorised||$50,000 USD|
|Bearer Shares Permitted||No|
|No Par Value Shares Permitted||Yes|
|Minimum Number Of Shareholders||1 Shareholder|
|Corporate Shareholdes Permitted||Yes|
|Meeting Locations||Can be held anywhere in the world|
|Privacy - Publicly Available Records||No|
|Requirements To Prepare||No|
|Audit Required||No - Unless the company elected to pay Tax|
|Keep Financial Records||Yes|
|Requirement To File Accounts||No|
|Requirement to File Annual Return||No|
|Accounts Publicly Accessible||No|
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|
Island Country in Eastern Caribbean Sea
on the boundary with the Atlantic Ocean
|Size||Approximate area of 617 sq. km|
Official Language is English
Other Language Include:
Saint Lucian Creole
|Currency||East Caribbean dollar (XCD), however the US Dollar use is widespread|
Parliamentary Democracy under Constitutional Monarchy
Road - Driving on the Left
UCT GMT -4
|International Dialling Code||+1-758|
Contact us today to enquire about the Cost of Formation or if you have further questions regarding the application process.