Saint Vincent and the Grenadines
Locations
Saint Vincent and the Grenadines is a traditional Caribbean offshore
jurisdiction. The country offers relatively developed infrastructure and banking
facilities. Local companies are most often used in the role of offshore
shareholders. It offers its owners similar benefits as offshore companies
registered in Seychelles, including 0% taxation and anonymity of owners and
shareholders.
Why set up a company in Saint Vincent and the Grenadines?
- Classic offshore jurisdiction. Companies based in Saint Vincent and the
Grenadines can be counted among classic offshore companies.
- The basic type of company is an International Business Company (IBC), which
is governed by the New International Business Companies Act of 2007Â and the New
International Business Companies Regulations of 2008.
- Paperwork is minimal and more or less formal, which makes everything
easier.
- Tax exemptions. Businesses are exempt from taxes in exchange for an annual
fee of $100 to the government for more than 25Â years.
- The minimum input capital is $1, so again it is a formality and no big
investments are needed. However, the usual amount of share capital is
$10,000.
- And another bonus – the company is not subject to an audit under any
circumstances.
One shareholder and one director of any nationality is required to establish
a company. The register of companies is not publicly accessible, but if you
really want to achieve maximum anonymity, it is possible to use nominee
services. Bearer shares are permitted, but may not leave the territory.
Use of offshore companies on St. Vincent and the Grenadines
- International trade, mediation of purchase and sale of products, activity of
„mother“ holding companies
- Online business (mediation of advertising services, licenses for online
services, development and sale of software)
- Consulting and advisory services
- Property ownership and increased anonymity of bank accounts
Start a company in a country called Saint Vincent and the Grenadines!
Basic information
- Type of legal entity: International Business Company (IBC)
- Establishment time: 5Â working days
- Number of shareholders: minimum 1, maximum not stated
- Shareholders: lFO or companies
- Share capital: no minimum is set
- Shares to bearer: allowed
- AÂ registered address in St. Vincent
- Local registered agent required
- Directors: minimum 1. Can be FO or company
- Residence function of the director: not necessarily in the country
Taxation
- An IBC is exempt from paying taxes in Saint Vincent and the Grenadines
- VAT is not applicable
- Double taxation agreements are not applicable
- Local businesses are subject to local taxes – VAT rate 15 %, corporate
income tax 32Â %
- Accounting and preparation of annual financial statements is not required,
filing is not necessary
- The audit is not mandatory
- Anonymity and privacy. Information about the directors and shareholders of
the IBC in the commercial register must not be published
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