St. Vincent and the Grenadines

St. Vincent and the Grenadines is an independent English speaking nation, a stable democracy located in the Eastern Caribbean. The legal system is based on the English Common Law. English is the official language. The population of the three islands is approximately 110,000. 

In 1996 there were comprehensive legislative changes to its IBC Act, bringing St. Vincent to the forefront of the world's offshore financial centers as one of the safest and most private jurisdictions. These legislative changes concentrated on two specific policies in St. Vincent's approach to offshore financial law: ultimate privacy and maximum asset protection. These policies are also reinforced in the new offshore finance laws proclaimed in 1997 and 1998.

IBC's incorporated in St. Vincent are completely free of all taxes for a period of 25 years. You can conduct your business tax free for 25 years even if managing it from within St. Vincent.

There is no requirement to disclose the beneficial owner of the IBC and bearer shares are allowed. There are no exchange controls. International banks have their branches here. 

St. Vincent is an independent sovereign nation and will therefore not be affected by the impending UK/EU legislation impacting the British Dependant Territories, the Isle of Man and the Channel Islands.

The Confidential Relationships Preservation (International Finance) Act, 1996 is a further expression of the privacy theme of the new legislative policy. This law elevates the protection of professional confidential relationships and information to a matter of state "public policy".

The Government has reaffirmed that the right to privacy in financial affairs is a basic right of offshore companies and financial institutions in St. Vincent and that it will not help other governments collect their taxes, directly or under the guise of investigations or prosecutions of other purported offences.

The International Business Companies Act, 1996 contains provisions assuring that the privacy of persons will be protected. These provisions reduce the amount of information to be contained in government registers and curtails the right of the public to inspect the registers.

Political structure
St. Vincent and the Grenadines became independent on 27 October, 1979. The system of government is a parliamentary democracy in the UK fashion.

St. Vincent and the Grenadines is a member of the British Commonwealth with a Governor General appointed by Queen Elizabeth II of the UK. There is universal suffrage for all persons 18 years of age and over. The Prime Minister is the leader of the governing party and, together with his cabinet, forms the executive branch of the government.

The legislative branch is the House of Assembly consisting of 21 seats; 15 elected representatives and 6 appointed senators. Members are elected by popular vote to serve five year terms.

St. Vincent and the Grenadines is a member of the British Commonwealth, the United Nations, Caricom and other international organizations.

Confidentiality Act

The Confidentiality Act adopted in 1996 affords true privacy for businesses and their owners. To make this perfectly clear the "Confidential Relationships Preservation (International Finance) Act, 1996 specifically says "The Court hearing an application for directions under this section shall not allow the giving in evidence of confidential information in connection with the enforcement or prosecution, of the civil or criminal revenue or tax laws of another state, territory or other political jurisdiction".
 

Banking confidentiality is enforced by law. No information on the company or its owners is public. Director may choose not to register their personal details. Bearer shares are allowed.

 

Double taxation treaties
St. Vincent & Grenadines do not have double taxation treaties with other countries. This means that St. Vincent & Grenadines tax authorities do not cooperate with other countries tax authorities and confidential information regarding your business activities can not and will not be disclosed.

Accounting and capital
There is no requirement for books or audited reports to be presented to any authority. Company capital can be declared with in wide range. Capital is not required to be paid in.

Cost
Our incorporation package includes: Incorporation of International Business Companies (IBCs), Government Fees, First Year Annual Fees, Registered Agent/Office, Nominee Directors & Shareholders, Apostles, Certificate of Good Standing, courier delivery. 

All inclusive.....................................................................................................$ 1,699

Second and subsequent years fees...................................................................$   650 

 

GENERAL
Type of Company	IBC
Political Stability	Good
Common or Civil Law	Common
Disclosure of Beneficial Owner	No
Migration of Domicile Permitted	Yes
Tax on Offshore Profits	No
Language	English
Time schedule	3-5 business days
CORPORATE REQUIREMENTS
Minimum Number of Shareholders	One
Minimum Number of Directors	One
Bearer Shares Allowed	Yes
Corporate Directors Permitted	Yes
Company Secretary Required	Yes

 

YACHT REGISTRATION

The registration of vessels under the flag of St. Vincent and the Grenadines is governed by the Merchant Shipping Act, 1982, as amended, and the Wreck and Salvage Act. Kingstown, St. Vincent and the Grenadines, is the home port. 

Ownership requirements - A ship may be registered if it is owned by : 

Any individual who is a citizen of St. Vincent domiciled in St. Vincent or not,

Any body corporate, partnership or other association of individuals registered in accordance with the laws of St. Vincent and the Grenadines and having their main office in St. Vincent or,

Any body corporate, partnership or other association of individuals registered according to law in any foreign country, provided that, when the main office is situated outside St. Vincent, a Registered Agent in St. Vincent is appointed
 

 

Procedure for the registration of yachts

 

Provisional registration Certificate and Provisional Radio License:

1. Application for Registration;
    

2. Good Standing Certificate of the owning company;
    

3. Certificate of General Inspection issued by a Classification Society/confirmation of class (if applicable);
    

4. Permission for Transfer or Transcript of Register and/or Non-Encumbrance Certificate or Deletion Certificate from the present registry;
    

5. International Tonnage Certificate, 1969 for yachts over 24m length;
    

6. Proof of ownership or copy of notarized Bill of Sale or copy of Purchase Contract;
    

7. Accounting Authority Identification Code (A.A.I.C.) and confirmation from the Accounting Authority that they are settling the Radio Traffic Accounts;
    

8. Payment of registration and annual fees.

    Permanent Registration

1. Certificate of Deletion from previous Registry (original or certified copy);

2. Payment of Annual Tax and other fees eventually due.

   NOTE:

             The Certificate of Registry will be renewed yearly upon settlement of the Annual tax.