Saint Vincent and the Grenadines

Main » Jurisdictions » Saint Vincent and the Grenadines

Saint Vincent and the Grenadines

General information about the jurisdiction

Saint Vincent and the Grenadines is an island country located in the Caribbean, a part of the United Kingdom.

The main sources of state income are elite tourism and agriculture. As the economy of St. Vincent and the Grenadines is heavily depends on weather conditions, the government creates conditions for developing of the country as a financial center.

1. Legislation

The International Business Companies Act, 1996 regulates companies’ activities in St. Vincent and the Grenadines

2. Company formation

2.1 Types of companies

The Law provides limited and unlimited liability companies. The most convenient is Limited Liability Company (Ltd, Corporation, Corp., S.A., Inc etc.).

International Business Company (Limited Liability Company).

2.2 Limited Liability Company:                     

  • The minimum authorized capital – not established. Payment by the moment of incorporation in not required. 
  • Shares –bearer shares are allowed.
  • Director – at least 1, individual or legal person, no residency required 
  • Members – at least 1, individual or legal person, no residency required. Director and shareholder may be the same person. Nominee service may be used.
  • Secretary – not required.
  • The registered agent is required.
  • Publicly available information: address and a size of the authorized capital. 
  • Company is not obliged to keep and submit an annual financial report, to be audited. Annual state fee must be paid.
  • Registered office in St. Vincent and the Grenadines is required.
  • Annual meetings of shareholders may be hold in any place or by telephone communications. 

3. Taxes

An offshore company is exempt from taxation for 25 years.

4. Currency control

None

5. Agreements on avoidance of double taxation

There are no agreements on avoidance of double taxation, but some agreements on information exchange were concluded.

6. Features

St. Vincent and the Grenadines is not in the tax havens list of Ukraine.