Saint Vincent and the Grenadines (also known as just St Vincent) is an island country in Caribbean Sea.
Saint Vincent has some of the strongest confidentiality laws globally, being one of only three financial privacy laws in operation in the world, the Preservation of Confidential Relationships (International Finance) Act 1996, is the only law of its kind to be found in an independent sovereign nation.
Along with their privacy laws, an International Business Company in St. Vincent is also a tax free vehicle for many business and investment opportunities .
- Exempt from all taxes for 25 years. (Option of 1% Tax on all profits where investor’s domestic law requires evidence of tax distribution)
- Strong Asset Protection
- Privacy – Strong Confidentiality law protecting against disclosure
- No Double Taxation Treaties or sharing of trading activities
- Low Incorporation and Annual Fees
- Stamp Duty Exemption on share and property transactions for 25 years
- No Financial Reporting Requirements
- Fast Incorporation
- Ownership of Licensing and Franchising
- Asset Protection – Tax free
- Trade – Buying and selling of goods and services
- Intellectual Property Protection
- E-Commerce Companies
- Operating Other Internet Businesses
A St. Vincent IBC is restricted from conducting business with residents of St. Vincent or own real estate in St. Vincent. There is also a restriction on conducting business in banking, trusts, insurance or mutual funds businesses without the appropriate license or authorisation being granted. It can also not solicit funds from the public nor offer its shares to the public.
The St. Vincent IBC may also own land in St. Vincent but only once it has obtained an “Alien Land Holding Licence”.
For the formation of an IBC in St. Vincent, there is a requirement of only one Director. In the instance that the company shall have more than one shareholder, then two directors are required.
The IBC is permitted to merge with subsidiaries and also consolidate with foreign companies. It may issue management mandates and power of attorney, in writing to any person.
There is a requirement to submit to Register, the name of the company to be incorporated, the names of the Director (or Directors if more than one shareholder), Names of the officers of the company, the number of shares to be issued, names of the shareholder(s) and the number or share to be issued, currency in which the shares shall be issued and the amount of Authorised Capital.
The only information which is held on public record is a Certificate of Compliance, from either the Registered Agent or a Solicitor, which confirms that all requirements of the International Business Company Act, has been complied with.
There is the option of two types of Incorporation Certificates, firstly with the Director’s names display and the other option is without this. There is no need to submit a list of shareholders and the beneficial owners of shares are also protected by the “Preservation of Confidential Relationships (International Finance) Act 1996, ensuring their details remain private.
Changing of the company name or other amendments to the existing company name can be done through the amendment of the original Articles of Incorporation.
|Country Law||Common Law|
International Business Companies (Amendment and Consolidation) Act 2007
The Company Act No 18 of 1996
Preservation of Confidential Relationships (International Finance) Act 1996
|Registered Office Required||Yes|
|Local Registered Agent Required||Yes|
|Shelf Companies Permitted||No|
|Migration Of Domicile||Yes|
|Average Time To Form Company||1 to 2 Business Working Days|
|Minimum Government Formation Charge||$125 USD|
|Recurring Minimum Annual Company License Fee||$125 USD|
|Annual Return Filing Fee||Not Applicable|
|Access to Double Taxation Treaties||None|
All St. Vincent International Business Companies are exempt from taxes such as Corporation, Inheritance, Capital Gains and Estate Tax, to name a few.
|Minimum Required Directors||1 (2 if more than one shareholder)|
|Local Director Required||No|
|Records Public||No - Optional|
|Board Meeting Location||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. If more than one shareholder then two Directors are required. Directors can be either individuals or corporate bodies of any nationality and resident of any country.
|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||No Limit|
|Bearer Shares Permitted||Yes|
|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|
|Keep Financial Records||Yes|
|Requirement To File Accounts||No|
|Requirement to File Annual Return||No|
|Accounts Publicly Accessible||No|
All St. Vincent IBCs are exempt from taxes for the first 25 years from the date of first registration. IBCs have the option of paying income tax at the rate of 1% in St. Vincent on all profits, where the investor’s domestic law requires tax distribution evidence, this is under the Caricom Tax Treaty.
and the Grenadines
Chain of Islands
Located in the Caribbean Sea
|Size||Approximate area of 389 sq. km|
Main and Official Language is English
Unofficial Language is Vincentian Creole
|Currency||East Caribbean dollar (XCD), however the US Dollar use is widespread|
Parliamentary Democracy under a Constitutional Monarchy
Road - Driving on the Left
UCT GMT -4
|International Dialling Code||+1 784|
Contact us today to enquire about the Cost of Formation or if you have further questions regarding the application process.