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 mainteinance 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.
Shareholders and directors’ details of an IBC are not filed in any public registry.
Saint Vincent and The Grenadines has implemented the OECD’s automatic exchange of information for tax purposes (AEoI).
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 – Saint Vincent and The Grenadines has amended its International Business Company Act and the International Trust Act to comply with the requests of the EU and the OECD.
Companies incorporated in 2019 are currently subject to the local tax regime (30% tax on worldwide income).
However, the Financial Services Authority (FSA) has already announced plans to amend the Income Tax Act to implement a territorial tax regime, during this quarter (Q1 2019), where only local-sourced income will be subject to taxation. This territorial tax regime would be applied retrospectively for all companies incorporated in 2019.
Once the territorial tax regime is in place, even if a given Saint Vincent company doing business abroad does not owe taxes – it might need to file tax returns.
Together with the territorial tax regime, Saint Vincent is also planning to enact legislation to enforce economic substance requirements for certain businesses, such as regulated companies, pure equity holdings or companies providing services to or purchasing goods from other affiliated companies. We will update you once the new legislation is passed.
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
- 30% 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
We pride ourselves in providing the best possible professional service which includes our honest hassle-free “No Hidden Fee” policy. Your incorporation package includes:
Saint Vincent & The Grenadines Business Company Formation – USD 1,600.00 (All included)
- All Applicable Registration and Government Fees
- Certificate of Incorporation
- Memorandum & Articles of Association
- Appointment of Company Director(s)
- Consent(s) to Act as Director
- First Board Resolution
- Share Certificate(s)
- Register of Shareholders
- Register of Directors
- Corporate Documents’ Courier Delivery
Saint Vincent Limited Liability Company (LLC) Formation – USD 1,600.00 (All included)
- All Applicable Registration and Government Fees
- Certificate of Organization
- Articles of Organization
- Appointment of the First Manager(s)
- Register of Managers
- Register of Capital Contributions
- Certificate(s) of Ownership
- LLC Operating Agreement
- Registered Office & Registered Agent Service including all fees for the calendar year
- Corporate Documents’ Courier Delivery
Time to form: 1 to 2 weeks.
All our incorporation services include a yearly consulting session, a dedicated account manager and access to our global network of trusted business services, including introductions to accountants, financial, tax and legal advisors at no cost.
Bank Account Opening Support Services (Optional)
Bank Account Options*:
- Offshore Bank Account** (Remotely) – USD 300.00
- Mauritius Bank Account (Remotely) – USD 600.00
- Bahamas Bank Account (Remotely) – USD 500.00
- Curaçao Bank Account (Remotely) – USD 500.00
- Singapore Bank Account (In-person) – USD 900.00
- Cayman Islands Bank Account (Remotely) – USD 900.00
- Cook Islands Bank Account (Remotely) – USD 600.00
For Private Wealth Structures, we have further options available in large financial centers. Please contact us for more information.
*This accounts’ schedule of fees are for trading, service and holding companies whose activities are not regulated and are considered low-risk by financial industry standards. If you conduct regulated activities such as financial services or gaming, or you operate in a high-risk industry such as cryptocurrencies, precious metals, adult, dating. Please also contact us for more information relating to these industries.
**Offshore Bank Accounts: Belize, Puerto Rico, Nevis, Antigua, Saint Lucia. Other bank account options may be available depending on business profile and turnover.
Our Bank Account Opening Support Service includes:
- Introduction to the Bank Manager
- Bank Account Opening Process Management
- Assistance and advice in filling out Business Questionnaires, KYC Forms and Bank Account Application Forms.
- Certified Copies of Constitutional Documents with Apostille
- Corporate Seal
Our banking service is not just a mere introduction to the bank. We assist you in filling out the business plan forms appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application.
Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process.
Annual fees (payable every December) – USD 800.00
- Government Fee
- Registered Agent Service Fee
- Registered Office Fee
Nominee Services (Optional)
- Corporate Nominee Director (1 year) – USD 1,100.00 (Including PoA)
- Corporate Nominee Shareholder (1 year) – USD 1,100.00 (Including Deed of Trust)
Click here to incorporate your Saint Vincent and the Grenadines BC.