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  Professional offshore incorporations and offshore banking services since 1996

 

SAINT VINCENT AND THE GRENADINES

Services available from ST. Vincent:

  1. Offshore companies (IBC)
  2. Offshore TRUSTS
  3. Bank Accounts
  4. Offshore Bank formation
  5. Offshore Insurance Company formation
     

Also on this page:

Offshore Company (IBC) formation
We are pleased to provide you with low cost effective St. Vincent corporation:
First Year fees:

  Incorporation US$449.00
  Registered Agent Fee $625.00 p.a.
  Government Taxes $225.00
TOTAL: $1299

Annual fees from 2nd Year and Thereafter
  Registered Agent Fee $625.00 p.a
  Government Taxes $225.00
Total: $850
+ fees for Nominee Directors / Shareholders  (optional)

Optional:
Provision of LOCAL nominee Director  $800 /year
Provision of third party nominee Director $300 /year (from other office)
Provision nominee Shareholder  $300 /year
Apostille: $150 
Courier delivery: $100 
 

Bank Accounts in ST. Vincent
We can assist you to open a bank account for your new St. Vincent IBC, with this St. Vincent bank.
 


For your convenience, we have included a Cost Calculator in the order form:

ORDER your St. Vincent company here
 



General Details 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.

The population is approximately 115,000. The local currency is the Eastern Caribbean Dollar - US$1.00 = EC$2.70. As with everywhere in the Caribbean, US dollars are widely accepted on the island. Many of the International Banks have branches in St. Vincent including Barclays Bank, Canadian Imperial Bank of Commerce and the Bank of Nova Scotia.

St. Vincent has an excellent telecommunications system, Cable & Wireless having installed a state of the art fibre optic digital system at the turn of the decade. There are no direct flights to or from St. Vincent to the US mainland or Europe but the island is easily accessible by utilising connecting flights via Antigua. Also, there are direct air links to St. Lucia, Barbados, Grenada, Martinique and Trinidad.

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. Some of the benefits of choosing this independent nation as your offshore jurisdiction of choice are:

  • A Saint Vincent and the Grenadines IBC is not liable to any taxation. This is the case even when the company is controlled and managed with physical presence within Saint Vincent and the Grenadines. There is also no audit or accounting requirements.
  • Saint Vincent and the Grenadines is the only independent jurisdiction that has a general confidentiality law that protects against disclosure of confidential information worldwide.
  • Saint Vincent and the Grenadines has no double taxation treaty with any other country. This means that information on trading activities will not be passed to a Revenue Authority anywhere.
  • Saint Vincent and the Grenadines is an independent stable democratic country with no history of civil unrest. Its political system is based on the English Parliamentary System. The legal system is based on the English Common Law supplemented by Local Legislation. The Court system is similar to that of the United Kingdom with the Privy Council based in England being the final Court of Appeal.
  • Telephone, Telefax and Telex, Internet and cellular communications are supplied through British telecommunications giant, Cable and Wireless.
  • International Courier Service providers have branch offices within the state.
  • A number of internationally recognised banks have branch offices within the state including Barclays Bank PLC, Bank of Nova Scotia and The Canadian Imperial Bank of Commerce.
  • 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. Bearer shares are permissible.
  • Saint Vincent and the Grenadines has some of the lowest incorporation and annual fees in the world.

BENEFITS OF INCORPORATING IN SAINT VINCENT AND THE GRENADINES

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:

  • Power to perform all legal acts and engage in all legal activities without fetter.
  • Power to maintain offices or branches or a presence in any form whatsoever in any country in the world.
  • Company documents may be filed in any language.
  • IBC's may issue bearer shares and shares may be issued with qualifications rights, privileges, limitations and restrictions and may be issued in one or more currencies.
  • IBC's may use any word or abbreviation that signifies limited liability.
  • 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 the provisions of the Exchange Control Act or from any other currency or exchange control legislation for 25 years.
  • 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 Stamp Duty in respect of all transactions involving transfers of property to or by an IBC and also in respect of shares, debt obligations, and other securities and transactions for 25 years from registration.
  • Exemption from inheritance and succession duties or any other form of gift tax on the estate of a shareholder for 25 years.
  • Exemption from tax on any dividend or distribution to any other company, individual, trust or any other entity for a period of 25 years.
  • Low fixed state incorporation rate of US$125 regardless of share capital.
  • Low annual fee of US$100.
  • The ability to change domicile to another jurisdiction by continuing in that jurisdiction.
  • An existing company registered in another jurisdiction can be continued in Saint Vincent and the Grenadines.
  • Quick incorporation within 24 hours.
  • 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.
  • Provision for meetings of Directors and shareholders to be held by telephone, or by any electronic means whatsoever within or without Saint Vincent and the Grenadines.
  • Limited Duration Companies and Companies limited by Guarantee are permitted.

KEY FEATURES
Location Eastern Caribbean Offshore Profit Taxes None
Political Status Independent State

Corporate Taxes

None

Political Stability Excellent Income Taxes None
Legal System British Estate Duties None
Privacy Excellent Gift Duties None
Disclosure of owners No Capital Gains Tax None
Migration of Domicile Yes Exchange controls None

HIGHLIGHTS OF A ST. VINCENT IBC
Disclosure of Beneficial Owner

No

Migration of Domicile Permitted

Yes

Tax on Offshore Profits

Exempt

Non-English Names Allowed

Yes

Minimum No. of Shareholders

One

Minimum No. of Directors

One

Bearer Shares Allowed

Yes

Corporate Directors Permitted

Yes

Company Secretary Required

No

Authorized Share Capital

Yes

Local Registered Office/Agent 

Yes

Local Officers

No

Local Meetings

No

Gov. Register of Directors

No

Gov. Register Shareholders

No

Annual Returns

None

Audit Requirements

None

Annual Gov. Registration Fee

US$100

Registration Fee

US$125

Nominee Shareholders & Directors

Available

Time required to incorporate

2 Days

   


PRIVACY IN SAINT VINCENT AND THE GRENADINES

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 disclose of confidential information worldwide.

At present the offshore finance industry is under attack from tax authorities in Europe and North America through the enactment of reporting requirements in the United States and Canada and the UK Home Office and Foreign Office initiatives and the E.U initiative against unfair corporate tax regimes. These recent developments have underlined the need for persons wishing to go offshore to do business with independent sovereign states like Saint Vincent and the Grenadines, rather than with British Dependent Territories.

The Government of Saint Vincent and the Grenadines is zealous in its protection of financial privacy and the preamble to the Confidentiality Act specifically states that the public policy of the State is "to protect and preserve the confidentiality and to prevent the unauthorized disclosure of all confidential information with respect to business of a professional nature which arises in or is created or disseminated within or is transported into the jurisdiction of the State".

The definition of "confidential information" in the Act contemplates the disclosure of confidential information via electronic media in other countries and the Act has extraterritorial application since it states that unauthorized disclosures may not be made in any place under any circumstances unless expressly permitted under the Act.

Before a person can disclose confidential information, that individual is by law obliged to apply to the High Court for directions, and the Court shall direct the manner of the disclosure and the form of the permissible disclosure and the Act provides guidance to the Court in determining how to make the appropriate Order.

The confidentiality Act makes it clear that any consent of the principal given under the compulsion or direction of a foreign court or other agency or authority shall not constitute 'consent" for purposes of compliance with the Act therefore preventing professionals from disclosing the relevant information for fear of being imprisoned for a period of three years.

Disclosures of confidential information are permissible only where foreign criminal proceedings have been commenced against a named defendant in another state, the proceedings must be criminal in nature under the laws of that other state and of St. Vincent and the Grenadines. Disclosure is not permitted where the proceedings are for breaches of a country's tax or revenue laws.

We believe that Saint Vincent and the Grenadines offers clients' fundamental confidentiality and secrecy advantages over other jurisdictions. These include (a.) an absence of requirements to disclose the names of the beneficial owners, directors or officers of the company (b.) the power to issue bearer shares (c.) power to use a second company to act as a director of the original IBC (d.) the absence of any legal requirement to file returns of any kind and (e) the most restrictive confidentiality law on the planet.

 

IMPORTANT FACTS CONCERNING SAINT VINCENT INTERNATIONAL TRUSTS

  • Trust Deeds are registered in a confidential Government Trust Register, whereupon an official Certificate of registration is issued to the Settlor/Grantor
  • A duly registered trust will not be rendered unenforceable because it was invalid under the laws of the Settlor/Grantor's domicile or residence. Thus forced heirship law and community property regimes can be avoided.
  • The traditional rule against perpetuities and the rule against accumulations are not applicable to international trusts formed in this jurisdiction
  • Purpose trusts, which are trust for a specific purpose but without named beneficiaries, are allowed and statutorily prescribed
  • The role and duties of protectors are specifically set out and clarified to account for recent case law
  • Choice of law and conflicts of laws issues are anticipated and resolved in favour of the provisions of the International Trust Act.
  • A foreign (non-vincentian) judgment against a registered International Trust (or its settlor or beneficiaries) is not enforceable in Saint Vincent if the judgment was based on law inconsistent with the International Trusts Act, 1996.
  • Actions against registered International Trusts must be commenced within two years from the date of creation of the trust
  • A complaining creditor may satisfy his claim against the property of a registered international trust only if that creditor can show both that the Settlor/Grantor's principal interest in creating the trust was to defraud him and that the disposition of property to the trust rendered the Settlor/Grantor insolvent.
  • Creditors must deposit US $25,000.00 with the courts of Saint Vincent prior to commencing an action against a registered International Trust or its property, if the creditor is unsuccessful in the claim, the money may be used to pay the costs and expenses of the trust in defending the action
  • Traditional fraudulent conveyance laws (Statute of Elizabeth) are not applicable to registered International Trusts.
  • Unauthorized disclosures of trust information are punishable under strong criminal laws.
  • The bankruptcy or insolvency of the Settlor/Grantor under the laws of his residence or domicile will not affect a registered international trust.

An International Trust may own one or more Saint Vincent International Business Companies.

Services available from ST. Vincent:

  1. Offshore companies (IBC)
  2. Offshore TRUSTS
  3. Bank Accounts
  4. Offshore Bank formation

 


For your convenience, we have included a Cost Calculator in the order form:

ORDER your St. Vincent company here
 


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Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.


Please go to our Uses of offshore Companies Page where you will find interesting information on the benefits of using offshore companies and trusts for business and personal use, links to information on other locations and details of our products and services.

 

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