Background

 

Saint Vincent is a volcanic island in the Caribbean. It is the largest island of the country Saint Vincent and the Grenadines. It is located in the Caribbean Sea, between Saint Lucia and Grenada. It is composed of partially submerged volcanic mountains. Its largest volcano and the country’s highest peak is La Soufrière.

The territory was disputed between France and the United Kingdom in the 18th century, before being ceded to the British in 1763 and again in 1783. It gained independence on October 27, 1979. Approximately 100,000 people live on the island. Kingstown is the chief town. The rest of the population is dispersed along the coastal strip, which includes the other five main towns.

Benefits

Among the benefits that are specifically enjoyed are the following:

  • St. Vincent IBCs are not liable to any taxation, for 20 years of incorporation
  • It has no double taxation treaty with any other country.
  • Exemption from any corporate tax, income tax, withholding tax, capital gains tax, or other like taxes on the income or assets of the IBC for 25 years.
  • St. Vincent has a general confidentiality law that protects IBCs against disclosure of confidential information worldwide
  • A number of internationally recognized 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.
  • They allow bearer shares, registered shares, with or without par value, voting or non- voting
  • Share capital may be expressed in any currency
  • Low government and annual fees
  • IBCs have great asset protection
  • May engage in any activity that is not illegal within St. Vincent & Grenadines
  • It can be administered from any part of the world, and its books, records, seal can be kept outside the territory
  • They only require 1 director
  • The name of the directors, shareholders and officers are not disclosed on any public register
  • No foreign exchange controls are imposed

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