Saint Vincent and the Grenadines

Saint Vincent and the Grenadines is a small island nation in the easternmost part of the Caribbean Sea. The territory consists of the main island of St. Vincent and several smaller islands of the Grenadines (in the Lesser Antilles archipelago). The country is situated on the Caribbean Sea to the west and the Atlantic Ocean to the east (St. Vincent has a long coastline of 84km). The island of St. Vincent is of volcanic origin.
Saint Vincent and the Grenadines is actively developing as one of the most upmarket tourism destinations in the region, with an emphasis on luxury private resorts and active recreation (diving, yachting, etc.) The islands of Saint Vincent and Bequia have the most developed tourist industry.
Of course, the state is an important offshore financial centre in the West Indies, attracting banks and entrepreneurs with extensive tax incentives. St. Vincent and the Grenadines has a small but relatively developed banking sector.

The most developed sector of the economy, apart from tourism, is agriculture. Agriculture is dominated by bananas (50% are exported); sugarcane, coconut, vegetables, tobacco, etc. are also grown. Rum, sugar, beer, dairy products and palm oil are also produced.
English is the state language. The official tender is the Eastern Caribbean dollar.
The state pursues an active international policy aimed at international cooperation and integration in all spheres of life. Saint Vincent and the Grenadines has been a member of the United Nations (since 1980) and a number of its specialised organisations. Member of WTO (1995), Interpol, the Commonwealth, Non-Aligned Movement, African, Caribbean and Pacific Group of States, Alliance of Small Island States.

6 simple steps to purchase a company

  1. choosing a country

  2. choosing a bank

  3. payment (by any method)

  4. sending documents

  5. company registration

  6. bank account opening

Main advantages

From all the possible types of advantages that open up to the founders when incorporating a company, it is definitely worth noting:

  1. Neither the owners nor the directors are personally liable for the debts of the corporation (this is the limited liability of an LLC).
  2. An LLC is authorised to conduct any lawful business, including licensed activities.
  3. Fast registration
  4. There is no requirement to have a company secretary.

Organisational and legal forms of companies

Under current laws, it is an attractive option to register your company for international business and investment in the following legal forms:

Business Company (BC)

Under current laws, both residents and non-residents may open a BC company in Saint Vincent and the Grenadines. A special feature of this legal form is that the submission of annual financial statements is a mandatory requirement.

LLC – Limited Liability Company. (ООО)

Corporate features:

There are no authorised capital requirements: just one dollar is enough. To establish an LLC, one director and one share holder (individual/legal entity) are sufficient. If the OOO/LLC operates and makes a profit outside of Saint Vincent, then it does not pay taxes in the country of incorporation of the legal entity.

Features of company incorporation

Based on the analysis of the current legislation regulating the activities of business entities, the following can be highlighted with regards to the specifics of the process of registering your business:

  1. A company can be incorporated by one person, an individual or legal entity. There is no residency requirement for this person.
  2. The share capital of an LLC varies from $1 to $10,000.
  3. The legislation of Saint Vincent and the Grenadines does not require the filing of financial statements.
  4. There is a requirement for the mandatory disclosure of directors and shareholders. Their names and addresses must be sent to the St. Vincent and the Grenadines Financial Services Authority (SVG FSA).

Taxes and fees

The state has the following features for levying taxes and fees

The basic corporate tax rate for legal entities is 30%. The only exception applies to the OOO/LLC in the case of confirmation of tax residency in another country.

VAT: standard rate 15%, reduced rate 10% or 0%.

Income tax on interest, royalties paid to a non-resident is 20%.

If you have any questions, please fill in the contact form below, and we will reply as soon as possible