Saint Vincent Company Formations
IBC Company Incorporation
Saint Vincent and the Grenadines is an independent nation and a full member of the British Commonwealth, the United Nations, the Organisation of American States, the International Labour Organisation, CARICOM, and the Organisation of Eastern Caribbean States.
Features of an International Business Company
- One director is required, there are no requirements for a local director or any domicile requirements
- Only one shareholder is required, the beneficial owners of shares are not made public
- Must have a Registered Office in Saint Vincent and the Grenadines, which we can provide
- An IBC may own land in Saint Vincent and the Grenadines as long as it obtains an Alien Land Holding Licence.
- An IBC is exempt from paying taxes in Saint Vincent and the Grenadines
- The filed Articles of Incorporation contain the Company Name, the Registered Agent, the currency of the share capital and authorised capital and type of shares
- A certificate of compliance by the Registered Agent that the requirements of the act have been complied with will accompany the articles. This is the only information on public record.
- The IBC Act has wide company objects
- There are no limitations on where or how meetings may be held
- There are no mandatory annual returns to be filed with the registry
- The IBC Act freely allows mergers and consolidations, mergers with a subsidiary, merger or consolidation with foreign companies etc
- Foreign denotations such as Aktiengesellschaft, Anonima, Societe Anonyme or the abbreviations such as A/S, SA, AG, GmbH, NV and BV are allowed
To incorporate the following information is required:
- Proposed Company Name. The name must end with Inc. (Incorporated), Ltd (Limited), Corp (Corporation), SA or any other suffix that denotes limited liability.
- Names of the Directors.
- Currency in which shares will be issued.
- Share Capital.
- Par value of shares usually $1 per share.
- Number of shares to be issued.
- Names of shareholder(s) and number of shares to be issued.
Saint Vincent Formations
Advantages of a Saint Vincent company:
- Shares can be issued in any currency.
- Shares may have any rights, privileges and limitations agreed in statutes.
- Any word can be used to imply limited liability - SA, Sàrl, Limited, GmbH etc.
- Statutes need not be filed.
- No disclosure of directors or shareholders to the registry.
- No corporate taxes, withholding taxes, capital gains taxes in St Vincent for 25 years.
- Exemption from Stamp Duty on property transactions or share transactions for 25 years.
- No inheritance duties on the bequeathing of shares.
- Can transfer domicile out of the jurisdiction or re domicile into St. Vincent.
- Incorporate within 2 days.
- Information filed with the Offshore Finance Authority is protected by Confidentiality Acts.
- Provision for meetings of Directors and shareholders can be held by telephone anywhere in the world.
Directors and Shareholders
An IBC in Saint Vincent can have only one director and one shareholder.
Shareholders, directors and officers may reside anywhere in the world and their meetings may be held wherever they decide. There is no residency or nationality requirement for shareholders, directors and/or officers of a Saint Vincent and the Grenadines IBC.
Confidentiality in Saint Vincent
Saint Vincent and the Grenadines is one of the worlds most confidential jurisdictions. There are no taxes for 25 years, no company registers and no need to file financial statements. However, there is an annual government registration fee which must be paid if the company wishes to remain in a state of good standing with the registry.
- No requirement to publicly disclose the names of shareholders or directors
There is strict confidentiality following the Preservation of Confidential Relationships International Finance Act 1996 - The Confidentiality Act states that the public policy of the State is to protect and preserve the confidentiality and to prevent the unauthorised disclosure of all confidential information with respect to business of a professional nature.
An IBC cannot carry out any activity for which it requires a licence granted by the Authority, unless such a licence has been granted - Mutual Funds business, International Banking Business, International Insurance business.
There are no requirement for a company registered in Saint Vincent to hold an annual general meeting of shareholders. If the company chooses to do so this meeting may be held anywhere in the world and attendance is possible via telephone or other electronic means.
There are no corporate, withholding or capital gains taxes in Saint Vincent for 25 years after the incorporation date. Companies are also exempt from Stamp Duty on property transaction or share transactions for the same 25 year period.