Saint Vincent

KEY FEATURES OF THE INTERNATIONAL BUSINESS COMPANY ARE AS FOLLOWS:

  • No residency or nationality requirement for shareholders, officers and/or directors of SVG IBCs. 2.Companies may be formed with as few as one shareholder who may be a natural person or a juridical entity.
  • Companies may be formed with as few as one director, who may be a natural person or a juridical entity.
  • No requirement for a company secretary.
  • IBC’s may own land in the jurisdiction, although foreigners may require an alien landholding licence.
  • Exemption from taxation; under present regulations there are no personal income taxes, estate taxes, corporate income taxes or withholding taxes for SVG IBCs.
  • Ability for IBCs to benefit from the Caricom Tax Treaty in return for payment of tax at 1% on annual profits.
  • No requirement for the filing of annual reports or accounts with any government authority in SVG, except for IBCs benefiting from Caricom tax treaties.
  • Authorized share capital may be denominated in any recognised currency.
  • No minimum capital requirement.
  • Shares may be issued fully paid, partially paid, or nil paid.
  • Company seal not mandatory.
  • Identity of beneficial owners, shareholders and directors not required to be filed in any public record unless the directors elect to do so.
  • Register of charges must be kept, but there is no requirement for this to be filed on public record.
  • Provision for continuation of companies to and from anywhere around the globe, and for local companies incorporated to migrate to the IBC register.
  • Shelf companies available.

In order to start with IBC company opening procedure please send us the following documents:

  • Suggested name of the company
  •  Passport copy for each director and shareholder
  •  Utility bill for each director and shareholder.
  •  Signed agreement by each director

 

In order to commence LLC company formation in Delaware/USA, please provide the following:

  • Copy of the passport
  • Name of the company. Please send 2-3 names of your choice. It must NOT contain words such as BANK, INSURANCE, LOTTERY and UNIVERSITY (Company is not allowed to pursue with listed business)
  • Address, telephone number and e-mail address (contact person)
  • Your payment to the Euro Commerce LLC bank account

INCORPORATION COSTS
  • Registered address
    Government fee
    Notarial and Apostil certification
    Company seal
    1200 USD

ANNUAL FEES
  • Registered agent
    Government fee
    600 USD

OTHER SERVICES
  • Nominee Shareholder (annually)
    + 400 USD
  • Nominee Director (annually)
    + 400 USD
Full list of optional costs available upon request

About St Vincent

Part of the Windward Islands located in Eastern Caribbean, about 1,600 miles south-east of Miami, St. Vincent is the largest of the more than 30 islands that comprise the nation state of Saint Vincent and the Grenadines. The Grenadines consist of a group of islands extending approximately 45 miles to the south-east of St. Vincent. The major islands are Bequia, Mustique, Canouan and Union Island.
The legal system is based on British legal system including appeals to the Privy Council based in the United Kingdom.
Saint Vincent and the Grenadines became an independent nation in 1979 and should be a natural choice for persons wishing to protect personal wealth and assets by going offshore.
The legal system is based on the English Common Law supplemented by Local Legislation.

 

What is a St Vincent IBC?

The Saint Vincent and the Grenadines International Business Company has become the vehicle of choice for persons wishing to take advantage of the rapidly expanding offshore market. The International Business Companies Act 1996 is considered by legal experts to be a unique and innovative piece of legislation which contains provisions not found in similar legislation in other jurisdictions.

An IBC incorporated in Saint Vincent and the Grenadines enjoys the following advantages:

  • There is no requirement for the filing of by-laws or for disclosure of directors, shareholders, and attorneys of fact with the Offshore Finance Authority or any other entity
  • Exemption from any corporate tax, income taxes, withholding tax, capital gains tax, or other like taxes on the income or assets of the IBC for 25 years
  • Exemption from inheritance and succession duties or any other form of gift tax on the estate of a shareholder
  • Exemption from tax on any dividend or distribution to any other company, individual, trust or any other entity
  • All information filed with the Offshore Finance Authority is protected by the most restrictive of all the Confidentiality Acts presently in force in offshore jurisdictions.

 

Taxes in St. Vincent

  • Exemption from any corporate tax, income taxes, withholding tax, capital gains tax, or other like taxes on the income or assets of the IBC for 25 years
  • Exemption from inheritance and succession duties or any other form of gift tax on the estate of a shareholder
  • Exemption from tax on any dividend or distribution to any other company, individual, trust or any other entity

 

Nominee Service

Nominee Service is consisted of Nominee Director and/or Nominee Shareholder. Both, Nominee Directors and Shareholders are available in St. Vincent.

 

Accounting and Audit

No requirement for the filing of annual reports or accounts with any government authority in SVG

 

List of documents received for standard IBC

  • Certificate of Formation
  • Certificate of Exemption from Import Duties
  • Certificate of Exemption from Direct Taxes
  • Membership Certificate
  • Corporate Resolution
  • Articles of Formation
  • Operating Agreement

 

Privacy

Identity of beneficial owners, shareholders and directors not required to be filed in any public record unless the directors elect to do so.
Saint Vincent and the Grenadines has taken the bold step in providing the offshore market with the Preservation of Confidential Relationships (International Finance) Act 1996. This Act is by far the most restrictive confidentiality law in existence in the world today and is designed to ensure that the privacy concerns of persons wishing to do business in Saint Vincent and the Grenadines are fully addressed. It is the only one of three general financial privacy laws in the world and the only one found in an independent sovereign nation. General financial privacy laws protect against disclosure of confidential information worldwide.

 

Restricted activities

A name that is similar to or identical to an existing company. A name that implies illegal activities. A name that implies royal or government patronage.
Names can be expressed in any language using the Latin alphabet, if the Registrar of Companies is in receipt of an English translation and the name is not considered undesirable. Chinese names possible.
Names Requiring Consent or a Licence: Bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents.

 

Bank account

For St. Vincent IBC we can assist you with the bank account opening in St Vincent or internationally. The banks we cooperate with are reliable financial institutions with a long tradition in private and corporate banking. Our clients are provided with an excellent customer service, online banking, Visa and/or Master cards, as well as other services, such as factoring, foreign exchange, savings and specialized banking solutions.

 

More Info