Company Formation and Incorporation - St. Vincent and the Grenadines (SVG)
Background
Saint Vincent and the Grenadines is an island country in the Caribbean. It is in the southeast Windward Islands of the Lesser Antilles, which lie in the West Indies at the southern end of the eastern border of the Caribbean Sea where the latter meets the Atlantic Ocean.
The capital of the country is Kingstown. The population in SVG speaks in English, which makes it a popular business destination. The related currency of the nation is the Eastern Caribbean Dollar. The environment is humid and tropical. Temperature fluctuations are barely noticeable throughout the year and the optimal time for tourist visits is from January to May.
St. Vincent and the Grenadines is considered to have one of the most restrictive confidentiality laws and strong asset protection to make business and investment. BCs are regulated by the International Business Companies Act of 2007. In 1996, Saint Vincent and the Grenadines adopted the package of 6 legislative acts, making the country one of the most perfect tax-exempt jurisdictions in the world. The laws were elaborated with the direct participation of leading British and American lawyers. Thus, registration of offshore company in Saint Vincent and the Grenadines is top priority for many entrepreneurs to date.
Incorporation Process and Timeline
| International Business Company (IBC) | |
| Minimum number of directors | 1 |
| Minimum number of shareholders | 1 |
| Local Presence (director/ shareholder/ officer) | No |
| Physical registered office address requirement | Yes |
| Maximum Foreign Shareholding | 100% |
| Minimum Paid Up Share Capital | USD 1 |
| Incorporation Timeline | 1 week |
| Public Register of Shareholders and Directors | No |
| Regulator | St. Vincent and the Grenadines (SVG) Inland Revenue Department |
Taxation and Accounting
| International Business Company (IBC) | |
| Corporate Tax | 0% |
| Auditor Requirement | No |
| VAT Payable | No |
| Capital Gain Tax | 0% |
| International currency control on remittance | No |
Operations
| International Business Company (IBC) | |
| General Activity | International Trading |
| Legal Framework | International Business Companies (Amendment and Consolidation) Act 2007 |
| Liability | The liability of the shareholders is limited to the respective shareholdings |
| Economic Substance Requirement | Depends on business nature |
Corporate Bank Account
| International Business Company (IBC) | |
| Corporate Bank Account Available | Yes |
| Bank Account Opening Timeline | 2 – 4 months |
SVG offers the following benefits:
- No double treaty with other countries, all information concerning trading or commerce activities will not be passed to a Revenue Authority.
- Not liable to taxation such as income tax, capital gains tax, withholding tax and corporate tax.
- Swift and efficient Incorporation. Registration can typically be done within 1 – 3 days.
- Strong asset protection structure or personal and corporate wealth and assets. Directors and shareholders are all not disclosed.
- The standard currency in St. Vincent is the US Dollar, making business extremely easy for International investors. All major foreign currencies are also allowed.
- Bearer shares are allowed in St.Vincent for anonymous ownership and privacy.
Kindly note that the FSA does not regulate the Forex or Stock Brokerage License. Activities such as International Banks, Stock Brokers, Forex Brokers, Pension Management, Mutual Funds, Insurance Companies and other relevant financial activities must obtain the respective license from other relevant authorities.
SVG Company Registration Guide
Saint Vincent and the Grenadines Financial Services Authority (FSA) was established on November 12, 2012 by an Act of Parliament, the Financial Services Authority Act, which established a single regulatory unit with the responsibility of regulating certain entities and businesses in the financial sector and provides for regulated matters.
The Financial Services Authority was created by Parliament to institute a new system to manage, direct control and supervise the international financial services industry and domestic non-bank institutions in this country.
Desfran Services in SVG
With more than a decade of experience, our team at Desfran is here to meet your business needs beyond just company formation. We also provide the following services in SVG:
- Company formation
- Obtaining Tax Residency Certificate – on completion of 1 financial year*
- Assistance in Business Management
- Corporate Management advisory
- Real Estate advisory for both residential and commercial properties
- Provision of registered agent and registered address
- Provision of company management, directorship, and shareholding services
- License application assistance
- Onshore/ Offshore bank account introductions and applications
- Virtual office services and other corporate services
- Nominee services
Application Process:
- Submit your interest here
- Our Offshore Formation Specialists will reach out to you for an in-depth discussion
- A customised proposal will be sent to you upon uncovering your needs,
- Upon the proposal confirmation, we will require the of the following information for the application
- Proof of Identity
- Proof of Residence (within the last 3 months)
- director(s),
- shareholder(s) and
- beneficial owner(s)
Once the above has been approved, we will send you an invoice for payment.
The incorporation process will commence upon receiving payment
Desfran deals directly with the authorities instead of the use intermediaries in your application process. In this way, we are able to ensure our prices remain competitive while you are ensured of utmost privacy and care in your application.