Why Choose St.Vincent and the Grenadines?  

Agile, secure and confidential. Welcome to St. Vincent – with its strong banking system and one of the world’s strictest privacy laws of information, it is small yet mighty. 

Of all the decisions you make when starting a new business, choosing the right  legal structure in the most suitable jurisdiction is one of the most important ones. This will impact how you pay taxes, your personal liability and your ability to raise money. 

In this post we’ll explore why St. Vincent may just be the right jurisdiction for you. 

Whether you are a solo entrepreneur or an established corporate group, look no further. 

You are at the right place. 

ST. VINCENT COMPANY IN A NUTSHELL  Only one shareholder and director is required to start a non-resident St. Vincent company. This can be the same person.  No requirements for a local director.  Light-weight entity structure: no mandatory auditing or tax filing as long as the company keeps its accounting records.  0% corporate income tax on foreign sourced income. This means all business income that is NOT generated within the borders of St. Vincent are considered foreign profit.  No minimum paid-up capital required.

 

Here’s why St. Vincent is a cool option 

One of the main reasons to choose this jurisdiction over other offshore jurisdictions comes down to the Preservation of Confidential Relationship Act of 1996, which is considered one of the strictest privacy laws in the world. This multi-island nation sits in the middle of the Caribbean ocean with an established banking sector and financial services standardized by the US Dollar. This characteristic alone makes it an attractive destination not only for US investors but also a range of different types of businesses from international trading to holding assets to franchising and licensing. 

Another notable characteristic about St. Vincent is that it has no double taxation treaties between any other country in the world. This combined with its strict confidential information laws enables full anonymity of shareholders, beneficial owners and directors of the company from public records. 

 

St. Vincent International Business Company 

Not a resident? No worries, you don’t need to be. The St. Vincent offshore company we talk about in this article is legally recognized as the International Business Company or IBC. An entity type that offers foreigners a flexible and versatile legal structure that suits all types of industries with 0% corporate tax on all foreign sourced income. 

 

Light and versatile legal structure 

St. Vincent Companies are some of the lightest structures regarding mandatory annual reporting. Along with Seychelles, which we also offer, St. Vincent companies are not required to for annual audits and reporting as long as your company keeps its financial records straight. 

Flexible and versatile as a structure with fast incorporation, this makes St. Vincent companies suitable for various use cases: holding entity for intangible assets such as trademarks and copyrights as well as franchising, licensing and intellectual property. This can be used to centralize otherwise distributed assets and digital rights under one legal structure. Other typical uses are in buying and selling goods, investment and trading and so on. 

 

Robust banking sector

When talking about St. Vincent companies, the role of its banks are righteously on the table. Having played a fundamental role tracing back over the centuries, the banking systems of St. Vincent today represent some of the highest scored reasons why it attracts businesses from all over the world. 

For international clients, both private and corporate, St. Vincent offers a range of offshore and onshore services with some of the highest bank secrecy laws and 100% anonymity in international banking services. 

Zero corporate tax

St. Vincent has a Territorial Tax System which means that all corporate income sourced outside the borders of the country are subject to 0% corporate tax or duty on income or profits. Same exemption applies to stamp duties on any business transactions for 25 years from the date of registration. 

In order to comply with the respective law and benefit from 0% corporate tax, make sure your company  

• • does not carry business operations within the borders of St. Vincent
  • does not own property or real estate in St. Vincent
  • does not operate certain businesses without appropriate licences (e.g banking, insurance etc.) 

However, it is important to remember that while your business may not be subject to St. Vincent corporate tax, you as a foreign citizen may be subject to resident taxes in your home country in accordance with your domestic tax regulations.

 

Privacy and confidentiality

This is certainly one of the things that sets St. Vincent apart from most other jurisdictions. As a former British Colony, this island nation’s legal frame is based on common law and one of the only jurisdictions in the world that has general financial privacy laws. 

Along with its Preservation of Confidential Relationships Act of 1996, St. Vincent has no requirements for any disclosure of information of officers, directors of beneficial owners of its companies. Bearer shares are allowed and you can appoint nominee directors or foreign corporate bodies to be listed as your company directors. 

On top of that, St. Vincent has signed the Double Taxation Relief (CARICOM) Treaty which means even more privacy for your public records. Long story short, if confidentiality is one of your top criteria, this may just be the right one for you.

Requirements to open a St. Vincent Company

Have questions? Here are the mandatory requirements to start your St. Vincent company – and how we can help. 

What will I need to get started?	We will need your company name, some basic information (amount of shares, the kind of business you’re planning) and shareholder/director information. Proof of address and passport copy will be also required to complete the first step. We will then take care of the rest.
How many shareholders and directors do I need?	One shareholder, one director. They can both be the same person, so you as a solo founder is enough. Both natural persons and corporate bodies allowed as shareholders. There is no limit to the number of shareholders a company can have.
Bearer shares?	Allowed.
Mandatory annual reporting?	No mandatory auditing or tax filing as long as your company keeps its accounting records reflecting its financial position.
Mandatory annual meetings?	Required. Can be held anywhere in the world.
What’s the corporate tax rate?	Zero tax. This is for all business income generated outside the borders of St. Vincent, including capital gain and withholding tax for 25 years. Also, there are no personal income taxes or estate taxes to be paid. However, there is an option to pay 1% tax.
How much paid-up capital do I need?	None. Although there is a standard practice in St. Vincent to specify an authorized capital of US$10,000.
Disclosure of information?	Fully confidential. No requirements for disclosure of officers, directors or beneficial owners of the company. This is one of the strictest privacy laws in the world. St. Vincent is one of three nations in the world with general financial privacy laws, which protects disclosure of confidential information to any other jurisdiction in the world apart from criminal activity. If privacy is important to you, we also offer nominee services. To learn more about our added services, please contact us at future@korporatio.com.
Do I need a company address?	Yes. And it’s automatically included in the incorporation package we offer.
How do I open a bank account?	We will assist you in opening a multi-currency e-bank account free of charge. For a local St. Vincent bank account, we can also help to make the introduction and referral to our network banks.
What is the process of incorporation?	Three steps: 1. Submit your order. 2. Provide company information. 3. Your company is created.
Any mandatory annual payments?	Government fee is US$ 125, but this is included in our annual package already so you don’t need to worry.
What else do I need to start a company?	Here is a list of everything mandatory you need to have. We’ve included all of this into our incorporation already:  Name application Certificate of incorporation Memorandum and Articles Assignment of Founders Rights and obligations First board of councillors minutes Register of councillors, beneficiaries, founders and registered agents Registered agent services Business Address in the respective location of the jurisdiction Money Laundering (AML) – Know Your Customer (KYC) – Political Exposed Person (PEP) check and approval Digital mail forwarding Drafting of minutes and assistance with other ancillary documents Smart Company Deployment, establishment + Digital Dashboard Customized Corporate ERC-20 Token Customized Digital Voting System  Assist in opening multi-currency cross-border Bank Account
How long will this take?	Within 48 hours.

Have more questions?
No worries. Drop us a note at future@korporatio.com or start a conversation here – we are always here to help!