St. Vincent International Business Company (IBC) Formation

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.

Overview
Company TypeIBC
Country LawCommon Law
Company 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 RequiredYes
Local Registered Agent RequiredYes
Shelf Companies PermittedNo
Migration Of DomicileYes
Average Time To Form Company1 to 2 Business Working Days
Government Fees
Minimum Government Formation Charge$125 USD
Recurring Minimum Annual Company License Fee$125 USD
Annual Return Filing FeeNot Applicable
Corporate Tax
Corporation TaxNo
Access to Double Taxation TreatiesNone

All St. Vincent International Business Companies are exempt from taxes such as Corporation, Inheritance, Capital Gains and Estate Tax, to name a few.

Directors
Minimum Required Directors1 (2 if more than one shareholder)
Local Director RequiredNo
Records PublicNo - Optional
Board Meeting LocationAnywhere 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. 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.

Company Secretary
Secretary RequiredNo
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 AuthorisedNo Limit
Bearer Shares PermittedYes
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
Keep Financial RecordsYes
Requirement To File AccountsNo
Requirement to File Annual ReturnNo
Accounts Publicly AccessibleNo

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.

Saint Vincent

and the Grenadines

Facts

Location

Chain of Islands

Located in the Caribbean Sea

SizeApproximate area of 389 sq. km
PopulationApproximately 103,000
Languages Spoken

Main and Official Language is English

Unofficial Language is Vincentian Creole

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

Parliamentary Democracy under a Constitutional Monarchy

Economy

Main Industries:

Tourism

Agriculture

Transport

Air

Road - Driving on the Left

Boat

Time Zone

UCT GMT -4

International Dialling Code+1 784
Internet TLD.vc

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

St. Vincent International Business Company (IBC) Formation Enquiry

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