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.
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)
|Type of company||IBC or international business company|
|Common or civil law jurisdictions||Common law|
|Shelf company availability||Yes|
|Time to incorporate||1-5 days|
|Min. annual duty or franchise fee||US$100|
|Annual return filling fee||Nil|
|Taxation||Exempted for 25 years, but has the option to pay 1% tax on annual profits to benefit from the Caricom Tax Treaty|
|Disclosure of beneficial ownership||Not permitted|
|Standard minimum paid up capital||US$1|
|Standard authorised share capital||US$10,000|
|Permitted currency of capital||Any|
|Minimum number of shareholders||1|
|Minimum numbers of directors||1|
|Local directors||Not required|
|Company seal||Not mandatory|
|Public record of directors||Not accessible|
|Public record of shareholders||Not accessible|
|Location of directors meeting||Any where|
|Location of shareholders meeting||Any where|
|Telephone board meeting|
|Access to Double taxation treaty||SVG has no tax treaties|
|Requirement to file account||No|
|Requirement to keep account||Yes|
|Requirement to file annual return||No requirement to file annual return|
|Change in domicile||Permitted|
|Local registered address||A statutory requirement|
|Who can incorporate?||Licensed Registered Agent in St. Vincent|
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