Business Company (Company limited by shares)
Saint Vincent and The Grenadines is an independent and politically stable jurisdiction.
Business Companies in St. Vincent have one of the simplest and straightforward registration procedure and one of the lowest incorporation and maintenance costs worldwide.
Requirements for a BC are minimal. No minimum paid-up capital required, the company may be incorporated with a sole shareholder and a sole director and annual general meetings are not mandatory.
Appointment of secretary is optional. It can be administered from St. Vincent or from any part of the world, and its books and records may be kept outside the territory.
BCs are allowed to issue registered shares, with or without par value, with voting or non-voting rights.
Saint Vincent and The Grenadines BCs are commonly used for asset protection, Forex brokers, international trade, as well as for yacht and vessel registration.
Country code – VC
Legal Basis – Common law
Legal framework – International Business Companies (Amendment and Consolidation) Act 2007
Company form – Business Company (BC) (Company limited by shares)
Liability - The liability of the shareholders for the company is limited to the amount of their respective shareholdings.
Share capital – There is no minimum capital requirement and it may be denominated in any currency. Shares may be issued fully paid, partially paid, or nil paid. Shares may be registered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights. Bearer shares are not permitted.
Shareholders – Business Companies may be formed by one or more shareholders, who can be either natural or legal persons, residents or non-residents, without limitations. Details of shareholders are not available to the public.
Directors – A Business Company must appoint at least 1 director, who may be a natural or legal person, resident or non-resident, without restrictions. Directors’ details are not disclosed in a public record.
Secretary – The company may appoint a secretary, but it is not mandatory.
Registered Address – A company shall appoint a licensed registered agent and shall have a registered address and office in Saint Vincent and The Grenadines.
General Meeting – An international business company need not hold AGM, and it can be held anywhere and by electronic means.
Electronic Signature – Permitted.
Re-domiciliation – Inward and outward re-domiciliation is allowed.
Compliance –Companies incorporated in 2019 are currently subject to the local tax regime (30% tax on worldwide income) and require to file tax returns.
Companies with over USD 4 Million revenue or USD 2 million of assets will be required to file annual returns.
- Shareholders not disclosed
- Directors not disclosed
- Corporate shareholders permitted
- Corporate directors permitted
- Local director required
- Secretary required
- Local secretary required
- Annual general meetings required
- Redomiciliation permitted
- Electronic signature
- Annual return
- Audited accounts
- Audited accounts exemption
- Exchange controls
- Common law Legal basis
- 1 Minimum shareholders
- 1 Minimum directors
- USD 1 Minimum issued capital
- - Minimum paid up capital
- USDAny Capital currency
- Anywhere Location of annual general meeting
- 2018 AEOI
Corporate Income Tax – Business Companies are subject to a territorial tax system -
- income which arises from activities taking place in St Vincent (local-source income) is subject to 30% income tax
- income which arises from activities taking place outside of St Vincent (foreign-source income) is exempt from tax
- submit up to date information on the shareholders and directors to the Registrar. Such information is publicly available
- submit annual accounts (or a declaration of solvency in lieu if revenues are not greater than USD 3 million), and tax return.
Other taxes – Saint Vincent & The Grenadines levies personal income tax on tax resident individuals at progressive rates up to 32.5% on income accrued or remitted to the country exceeding XCD 10,000. Tax residents are individuals physically present in the country for at least 183 days in a year.
Real property tax is levied at a 5% rate on the market value of the property. There is a transfer tax on the sale of immovable property at 5% for both the buyer and the seller. There are no inheritance and wealth taxes.
- Offshore Income Tax Exemption
- Offshore capital gains tax exemption
- Offshore dividends tax exemption
- CFC Rules
- Thin Capitalisation Rules
- Patent Box
- Tax Incentives & Credits
- Property Tax
- Wealth tax
- Estate inheritance tax
- Transfer tax
- Capital duties
- 0% Offshore Income Tax Rate
- 30% Corporate Tax Rate
- 0% Capital Gains Tax Rate
- 0% Dividends Received
- 0% Dividends Withholding Tax Rate
- 0% Interests Withholding Tax Rate
- 0% Royalties Withholding Tax Rate
- 0 Losses carryback (years)
- 0 Losses carryforward (years)
- 0% Personal Income Tax Rate
- 15% VAT Rate
- 31 Tax Treaties
Saint Vincent and the Grenadines is an island country in the Americas, member of the Commonwealth and CARICOM, located to the north of Venezuela and the island of Granada, in the chain of the Lesser Antilles of the Caribbean Sea. Its territory of 389 sq. km comprises the main island of St Vincent and two-thirds of the north of the Grenadines archipelago. The country is inhabited by 103,000 people.
Its capital and the most populated city is Kingstown, located on St Vincent island. Its official language is English, although part of its population also speaks the St Vincent Creole, an English-based Creole with elements of French.
Its official currency is the Eastern Caribbean Dollar (XCD), which is pegged to the US Dollar (USD) at a 2.7:1 ratio. The US$ is also widely accepted.
Saint Vincent and the Grenadines is a parliamentary democracy within the British Commonwealth of Nations. The British monarch is head of state and is represented on the island by a Governor-General, a position with ceremonial functions. Government control rests with the Prime Minister and Cabinet.
Saint Vincent and the Grenadines is a full member and participant of the Caribbean Community (CARICOM), the Organization of Eastern Caribbean States (OECS), the Bolivarian Alliance for the Americas (ALBA). The community of Latin American and Caribbean States (CELAC), Organization of American States (OAS)
St. Vincent’s main economic activities are the export of agriculture products -bananas, root crops, arrowroot, and exotic fruits, in addition to construction, tourism - Grenadines is a top destination of the up-market yachting crowd - offshore financial services and the issuance of postage stamps.
Tax treaties Map
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