About Saint Vincent and Grenadines
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.
More than 20 countries sail under the flag of Saint Vincent and the Grenadines.
LEGISLATION
The International Business Companies Act, 1996 regulates companies’ activities in St. Vincent and the Grenadines.
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.).
COMPANY REGISTRATION IN ST. VINCENT AND THE GRENADINES: REQUIREMENTS
LIMITED LIABILITY COMPANY:
- The minimum authorized capital – not established. Payment by the moment of incorporation in not required.
- Shares – any, incl. bearer, in any currency, may be without nominal value.
- 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. However, companies that have more than $4 million in account balances at the end of the financial year or more than $2 million in volume shares at the end of the year are required to file an annual financial report. A state fee is also paid once a year.
- Registered office in St. Vincent and the Grenadines is required.
- Annual meetings of shareholders may be hold in any place or by telephone communications.
TAXES
As of June 30, 2021, all International Business Companies (IBC) on St. Vincent have lost their “International” status and switched to the status of ordinary business companies (BC) with a tax rate on income of 28%.
But, the country still retained some tax exemptions for non-residents, namely: the absence of taxes on real estate, inheritance and gift.
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AGREEMENTS ON AVOIDANCE OF DOUBLE TAXATION
The state has signed only one double taxation agreement with the countries of the Caribbean Commonwealth. A number of agreements on the exchange of information have also been signed.
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FEATURES
St. Vincent and the Grenadines is not in the tax havens list of Ukraine.
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If you are planning to open a company in Saint Vincent and the Grenadines, please contact our lawyers for advice:
+38 (098) 737-88-88
We will help you buy an offshore company in Saint Vincent and the Grenadines or in any other jurisdiction on the most favorable terms.
The cost of offshore registration in St. Vincent and the Grenadines is formed individually for each client, so get the final price in our commercial offer.
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