St. Vincent & The Grenadines

 

St Vincent

Saint Vincent and the Grenadines is an island country in the Lesser Antilles chain, namely in the southern portion of the Windward Islands, which lie at the southern end of the eastern border of the Caribbean Sea where the latter meets the Atlantic Ocean.

Its 389-square-kilometre (150 sq mi) territory consists of the main island of Saint Vincent and the northern two-thirds of the Grenadines, which are a chain of smaller islands stretching south from Saint Vincent Island to Grenada.

To the north of Saint Vincent lies Saint Lucia, to the east Barbados. Saint Vincent and the Grenadines is densely populated (over 300 inhabitants/km2) with its 120,000 people.

Its capital is Kingstown, also its main port. The country has a French and British colonial history and is now part of the Organisation of Eastern Caribbean States, CARICOM, the Commonwealth of Nations and the Bolivarian Alliance for the Americas.

Agriculture, dominated by banana production, is the most important sector of this lower-middle-income economy. The services sector, based mostly on a growing tourist industry, is also important. There is a small manufacturing sector and a small offshore financial sector.

Incorporation

Type of company: IBC (international business company), is an offshore company formed under the laws of some jurisdiction as untaxed company which is not permitted to engage in business within the jurisdiction in which it is incorporated.

Who can incorporate: Licensed Registered Agent in Seychelles

Time to incorporate: One to five days

Registration fee: A SVG IBC pays US$ 100 fixed annual fees to the government – no limit for share capital

Shelf company availability: Yes

Taxation: An IBC (International Business Company) is exempted from all taxes for twenty-five years

Minimum annual government fee (from the 2nd year): US$100 (excluding taxation)

Disclosure of beneficial owner: Not permitted

Bearer shares: Registered shares, shares of no par value, preference shares, redeemable shares, and shares with or without voting rights. The international Business Companies (Amendment) Act No.26 and 44 of 2002 allows for the registration and custody of bearer share certificates by the registered Agent.

Standard minimum paid up: US$1

Standard authorised capital: US$10,000

Permitted currency of capital: Any

Minimum number of shareholders: One

Minimum number of directors: One

Corporate directors: Yes, corporate directors are permitted

Local directors: Not required

Company secretary: Optional

Company seal: A company seal is not mandatory

Public record of directors & shareholders: Not accessible

Location of directors and shareholders meeting: Anywhere

Telephone board meeting: Yes

Access to Double Tax Treaty: SVG has no tax treaties

Requirement to file account: Whilst there is no requirement to file audited accounts with the authorities, a company is required to keep financial records, which reflect the financial position of a company.

Requirement to keep account: Yes

Requirement to file annual return: An IBC is not required to file any annual returns with the government of St. Vincent & Grenadines

Change in domicile: Permitted

Local registered office address: A local registered office address and a local registered agent are a statutory requirement in Saint Vincent)

Data Sheet

St. Vincent IBC Corporate Data Sheet – Summary

Type of companyIBC or international business company
Common or civil law jurisdictionsCommon law
Shelf company availabilityYes
Time to incorporate1-5 days
Min. annual duty or franchise feeUS$100
Annual return filling feeNil
TaxationExempted for 25 years, but has the option to pay 1% tax on annual profits to benefit from the Caricom Tax Treaty
Disclosure of beneficial ownershipNot permitted
Bearer sharesPermitted
Standard minimum paid up capitalUS$1
Standard authorised share capitalUS$10,000
Permitted currency of capitalAny
Minimum number of shareholders1
Minimum numbers of directors1
Corporate directorsYes
Local directorsNot required
Company secretaryOptional
Company sealNot mandatory
Public record of directorsNot accessible
Public record of shareholdersNot accessible
Location of directors meetingAny where
Location of shareholders meetingAny where
Telephone board meeting
Access to Double taxation treatySVG has no tax treaties
Requirement to file accountNo
Requirement to keep accountYes
Requirement to file annual returnNo requirement to file annual return
Change in domicilePermitted
Local registered addressA statutory requirement
Who can incorporate?Licensed Registered Agent in St. Vincent

Banking Options

Click the link below to see the banking option we have for St. Vincent Company.

St. Vincent Company Banking Option

 

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