St. Vincent is a well known and reputable offshore jurisdiction located in the Eastern Caribbean. The jurisdiction follows international regulatory standards and offers transparent policies and effective laws.
Due to the flexibility of corporate structures, ultimate privacy and maximum asset protection are offered to a St. Vincent offshore company (IBC).
St. Vincent IBC’s are practical and popular vehicles to hold foreign assets and conduct international business. Here are some of the most popular uses:
International Business Companies registered in the St. Vincent and Grenadines are free of all taxes for 25 years, may be managed from any country and can have only one director and shareholder of any nationality. There is no disclosure of beneficial owners in public records also.
Here is a full list of the main benefits:
Companies are exempted from any taxation and there is no corporate income, withholding, personal or estate taxes. The liberal foreign exchange system does not have exchange controls and companies are free of any charges on foreign exchange transactions.
As an investment incentive the government of St. Vincent and Grenadines offers tax holidays for different groups of enterprises that invest in tourism, light manufacturing, agro-processing or construction.
The country also has double taxation treaties with CARICOM nations and has signed 21 Tax Information Exchange Agreements and Double Taxation Conventions with 10 jurisdictions.
St. Vincent IBC’s cannot carry on any activity with residents of the country or any business without a license granted by the government authority (e.g.: Mutual Funds business, International Banking Business, International Insurance business).
One or more persons may incorporate an IBC by signing and filing the Articles of Incorporation and Bylaws with the Registrar. The company must have a registered agent and registered office in the St. Vincent and Grenadines. The first registered agent of the IBC shall appoint first directors and secretary (optionally) of the company. There are no residency or nationality requirements for shareholders, directors or any other officers of the company.
The time-frame for company formation is usually 2 business days after which the Commercial Registry releases a Certificate of Incorporation.
St. Vincent and Grenadines is a multi-island state in the Eastern Caribbean, formerly part of the British colony. The country has a parliamentary democracy within the Commonwealth. The economy of the country is based on agriculture (banana production) and a growing tourist industry. The St. Vincent offshore financial sector is small but very popular among international investors and businesses due to its restrictive secrecy laws.
The main business opportunities for international investments are very attractive among the following industries:
The official language is English and the official currency is the East Caribbean dollar (XCD).
St. Vincent is the member of many international political and economic organizations and maintains close relations with the Unites States, United Kingdom, Canada and Germany. It is also a member of the United Nations, CARICOM, OECS, Caribbean Basin Initiative, CARIBCAN, and the World Trade Organization.
The legal system of the St. Vincent and Grenadines is based on English Common Law and has a strong judicial system, which protects inviolability of contracts and equal rights of foreign investors. St. Vincent offshore companies are governed by the International Business Companies Act 2007 and International Business Companies Regulations 2008.
Contact Starting Business if you need further details on St. Vincent offshore company formation.