Business setup in St Vincent

Saint Vincent and the Grenadines is an independent country located in the West Indies on the eastern border of the Caribbean Sea. This offshore financial centre can offer benefits to those looking for a place with moderate expenses and the advantages of a small-scale financial centre.

The British monarch is formally the head of state. The country is ruled by the House of Assembly of Saint Vincent and the Grenadines.

St. Vincent’s financial industry has been growing steadily. Compared to other Caribbean financial centres, St. Vincent and the Grenadines remains a comparably small offshore jurisdiction. However, this factor may be to the advantage of those seeking an alternative to other popular centres. St. Vincent and the Grenadines is a primary jurisdiction for companies engaged in financial activities such as forex and brokerage services due to the relaxed regulation of these activities.

Taxation in St. Vincent and the Grenadines:_

In 2018, there were major changes in company and business taxation legislation. The taxation of an offshore company was changed from a preferential tax regime to territorial taxation. Consequently, Business Companies (BCs) and Limited Liability Companies (LLCs) in St. Vincent and the Grenadines enjoy zero taxation on profits, capital gains and passive income derived outside the islands’ territory.

It should be noted that the law exempts St. Vincent offshore companies from taxation in different ways. Territorial taxation is applicable to the Business Company, while the Limited Liability Company is exempt from all taxes by statute.

Territorial taxation means that BCs are subject to corporate tax on income derived within the island’s territory (if any). There is a common misconception in public sources that BCs are subject to income taxes on worldwide income. It should be noted that under the Income Tax (Amendment) Act, 2020, BC profits are only taxable if they are derived in the territory of St. Vincent and the Grenadines.

No VAT is applicable to a St. Vincent offshore company. The official currency of St. Vincent and the Grenadines is the East Caribbean dollar (XCD).

There are no currency exchange controls in St. Vincent and the Grenadines.

Why choose St. Vincent

St. Vincent and the Grenadines company formation is a very attractive option for a classic assets holding offshore company, international trading company or for yacht ownership. In particular, it is highly appealing for forex and brokerage services as the jurisdiction does not regulate these types of activities.

St. Vincent offshore company formation is attractive due to the competitive fees that can minimise the administrative costs of maintaining the company.

St. Vincent remains a relatively small financial centre compared to other more popular Caribbean offshore centres. On the other hand, St. Vincent has all the necessary asset protection provisions in its legislation. Thus, this jurisdiction is perfect for those who want cost-effective solutions by avoiding the other more popular offshore jurisdictions.

The St. Vincent company register is very efficient and fast as it operates online. Although the information is stored as a public record, information about beneficial owners is not available to the public.

The following types of entities can be incorporated in St. Vincent and the Grenadines:

Business Company (BC)

Limited Liability Company (LLC)

Segregated Cell Company

Limited Duration Company

Companies incorporated in St. Vincent are an excellent choice, inter alia, for the following activities:

Asset protection

Tax planning

International trade and e-commerce

Forex business

Yacht ownership

Process of St. Vincent company formation

Stage 1 Contact us for more information and quotes. We answer within three hours!

Stage 2 Fill in a form, provide us with the required documents and make a payment.

Stage 3 Receive the scanned incorporation documents within two days, and hard copies by courier in up to seven days.

Documents required to incorporate St. Vincent company

To incorporate St. Vincent company the following CDD documents are required:

- Certified copy of passport for all directors, shareholders and beneficial owners

- Certified copy of the second ID document for all directors, shareholders and beneficial owners

- Certified proof of address for all directors, shareholders and beneficial owners

- Reference letter from bank or a professional for all directors, shareholders and beneficial owners

Documents and services you receive upon incorporation of St. Vincent company

After incorporation you receive the following documents:

Certificate of Incorporation issued by the registrar of companies

Memorandum of Association stamped by the registrar of companies

Articles of Association stamped by registrar of companies

Resolution of appointment of first directors

Register of directors

Register of shareholders

Register of beneficial owners

Minutes of first meeting of directors

Share Certificate for each shareholder