FX Business
Advantages of St. Vincent Company Formation
- Perfect jurisdiction for FX and Crypto business registration
- Fast and easy company incorporation process
- 0% corporate tax rate for profits outside SVG
- Directors and Shareholders can be from any jurisdiction
- Annual meetings can be held anywhere in the world
Privacy Score
This score demonstrates how much privacy can be maintained by the company and the rate of disclosure of the corporate information for open public scrutiny. The higher the rate, the more privacy the company can enjoy. All rates are based on the open sources and subjective view of Astra Trust.
86
0
100
Tax Haven Score
This score demonstrates the tax burden applicable to the company and the jurisdiction as a whole. The higher the score, the lower are tax rates, and the easier is regulation. All scores are based on the open sources and subjective view of Astra Trust.
89
0
100
Reputation
This score demonstrates the reputation of the company and jurisdiction in the financial and business circles. The higher the score, the more favourable is the treatment by financial institutions, authorities, and counterparties. All scores are based on the open sources and subjective view of Astra Trust.
Good
Find out more about Saint Vincent and the Grenadines
Saint Vincent and the Grenadines is an independent country located in the West Indies on the eastern border of the Caribbean Sea. This offshore financial centre can offer benefits to those looking for a place with moderate expenses and the advantages of a small-scale financial centre.
The British monarch is formally the head of state. The country is ruled by the House of Assembly of Saint Vincent and the Grenadines.
St. Vincent’s financial industry has been growing steadily. Compared to other Caribbean financial centres, St. Vincent and the Grenadines remain a comparably small offshore jurisdiction. However, this factor may be to the advantage of those seeking an alternative to other popular centres. St. Vincent and the Grenadines is a primary jurisdiction for companies engaged in financial activities such as forex and brokerage services due to the relaxed regulation of these activities.
The Following Types of Entities Can be Incorporated in St. Vincent and the Grenadines:
- Business Company (BC)
- Limited Liability Company (LLC)
- Segregated Cell Company
- Limited Duration Company
Why set up a Saint Vincent Company?
St. Vincent and the Grenadines company formation is a very attractive option for a classic asset-holding offshore company, an international trading company or yacht ownership. In particular, it is highly appealing for forex and brokerage services as the jurisdiction does not regulate these types of activities.
St. Vincent offshore company formation is attractive due to the competitive fees that can minimise the administrative costs of maintaining the company.
Growing Financial Centre
St. Vincent remains a relatively small financial centre compared to other more popular Caribbean offshore centres. On the other hand, St. Vincent has all the necessary asset protection provisions in its legislation. Thus, this jurisdiction is perfect for those who need cost-effective solutions by avoiding the other more popular offshore jurisdictions.
The St. Vincent company register is efficient and fast, as it operates online. Although the information is stored as a public record, information about beneficial owners is not available to the public.
Companies Incorporated in St. Vincent are an Excellent Choice for the Following Activities:
Cypto Company
Asset Protection
Vessel Ownership
Taxation of St. Vincent Company
| Currency | East Caribbean dollar (XCD) |
| Corporate Income Tax | 0% |
| Withholding Tax | 0% |
| Capital Gains Tax | 0% |
| Inheritance Tax | 0% |
| VAT | 0% |
| Exchange Controls | No |
Taxation in Saint Vincent
In 2018, there were major changes in company and business taxation legislation. The taxation of an offshore company was changed from a preferential tax regime to territorial taxation. Consequently, Business Companies (BCs) and Limited Liability Companies (LLCs) in St. Vincent and the Grenadines enjoy zero taxation on profits, capital gains and passive income derived outside the islands’ territory.
Territorial Tax System
It should be noted that the law exempts St. Vincent offshore companies from taxation in different ways. Territorial taxation is applicable to the Business Company, while the Limited Liability Company is exempt from all taxes by statute. Territorial taxation means that BCs are subject to corporate tax on income derived within the island’s territory (if any). There is a common misconception in public sources that BCs are subject to income taxes on worldwide income. It should be noted that under the Income Tax (Amendment) Act, 2020, BC profits are only taxable if they are derived in the territory of St. Vincent and the Grenadines.
No VAT applies to a St. Vincent offshore company.
The official currency of St. Vincent and the Grenadines is the East Caribbean dollar (XCD).
There are no currency exchange controls in St. Vincent and the Grenadines.
Corporate Legislation in Saint Vincent & the Grenadines
The legal system in St. Vincent is based on common law.
The court of final appeal for St. Vincent is the Caribbean Court of Justice.
Financial services on the islands are regulated by a separate set of laws. The Business Companies Act of St. Vincent and the Grenadines is a primary statute that regulates all matters regarding BCs. The legislation also includes the Limited Liabilities Companies Act and the International Trust Act. The non-banking financial services industry in St. Vincent is supervised by the FSA.
St. Vincent and the Grenadines company registration is one of the best options for incorporating companies engaged in brokerage and forex activities. It is not required to obtain a financial licence on the island for these activities. However, such a licence must be obtained in the jurisdiction where the company would operate.
In order to implement the new territorial taxation regime, St. Vincent offshore companies changed their name from International Business Companies (IBCs) to simply Business Companies (BCs).
Trust legislation in St. Vincent contains asset provisions similar to those in Nevis. The trusts holding the shares of St. Vincent BCs are regulated by the same provisions as the BVI VISTA trusts. This effectively relieves the trustee of the duty to oversee the management of the underlying St. Vincent company.
The Following Laws Provide For The Existence Of Offshore Companies In St. Vincent:
Process of St. Vincent company registration
Stage 1
Contact us for more information and quotes. We answer within three hours!
Stage 2
Fill in a form, provide us with the required documents and make a payment.
Stage 3
Receive the scanned incorporation documents within two days, and hard copies by courier in up to seven days.
Required Documents To Incorporate In Saint Vincent
To incorporate a St. Vincent & the Grenadines company the following KYC documents are required:
- Certified copy of passport for all directors, shareholders and beneficial owners
- Certified copy of proof of ID for all directors, shareholders and beneficial owners
- Certified copy of a utility bill or similar document, not more than 3 months old as proof of residential address (example water, cable tv, electricity, or telephone bill)
- Reference from a bank, lawyer, accountant or other professional
- KYC form provided by your personal manager in Astra Trust
For more information click below to receive certification instructions and requirements.
Documents And Services You Receive After St. Vincent Company Formation
The Costs of Company Incorporation Include Services as Follows:
- Company name search in the St. Vincent Register of Companies for availability
- Revision of KYC and CDD documents
- Payment of Government Fees
- Necessary filings to the St. Vincent Registrar of Companies
- Drafting of activation corporate documents on incorporation of the company
- St. Vincent Registered office services for 1 year
- St. Vincent Registered agent services for 1 year
- Compliance Fees
- Full administrative support 24/7 from your personal manager in Astra Trust
The Company Incorporation in St. Vincent Includes the Following Company Documents:
- Certificate of Incorporation issued by the St. Vincent Registrar of Companies
- Articles of Incorporation stamped by the St. Vincent Registrar of Companies
- By-Laws stamped by the St. Vincent Registrar of Companies
- Resolution of appointment of First Directors
- Register of directors
- Register of shareholders
- Register of beneficial owners
- Minutes of first meeting of directors
- Share Certificate for each shareholder
Need More Help To Setup Your Offshore Company in St. Vincent?
Just get in touch with us. We typically respond within 2 hours
Company Name In St. Vincent
Under the International Business Companies Act of Saint Vincent and the Grenadines, the company name shall end with the following words:
- “Limited”;
- “Corporation”;
- “Incorporated”.
Alternatively, the abbreviations “Ltd.”, “Corp.” or “Inc.” may be used.
The law also allows the use of foreign names in the last part of the company name instead of the abovementioned words. The following words or their abbreviations may be used:
- “Sendirian Berhad” or “Sdn Bhd“;
- “Société a Responsabilité Limitée” or “SARL“;
- “Société Anonyme” or “S.A.“;
- “Sociedad Anonima” or “S.A.“;
- “Besloten Vennootschap” or “B.V.“;
- “Gesellschaft mit beschränkter Haftung” or “GmbH“;
- “Naamloze Vennootschap” or “N.V.“;
- “Société par Actions” or “S.p.A.“.
The proposed company name can be checked for availability by Astra Trust within 1-2 working days.
The company name cannot suggest any connection to Her Majesty, the Royal Family, or a connection to a municipality or other local authority or a society or body incorporated by royal charter. It also cannot be a name prohibited by the laws and regulations in St. Vincent and the Grenadines.
Board Of Directors And Shareholders Of a St. Vincent & the Grenadines Company
The St. Vincent Business Company must have at least one director and one shareholder. There are no restrictions on the residency or nationality of the directors and shareholders. Corporate directors are allowed.
Board meetings can take place anywhere in the world.
Nominee services are available in St. Vincent. It is possible to appoint a director and nominee shareholder after registering a St. Vincent and the Grenadines company. Astra Trust can assist with all matters related to St. Vincent company formation, the appointment of nominees and the opening of bank accounts.
Astra Trust can provide nominee services upon incorporation.
Share Capital of St. Vincent Company and Types of Companies
The company can be incorporated in St. Vincent with the following share capital structures:
- Company limited by shares
- Company limited by guarantee
- Company limited by shares and guarantee
The standard authorised share capital of the company limited by shares is usually USD 50,000 or in another currency, with a denomination of USD 1 per share.
The issued share capital to shareholders can be of any amount, starting from 1 share and up to all 50,000 shares.
The authorised share capital can be both par value and no par value. This is regulated by the Articles of Incorporation of the company.
Bearer shares are prohibited from being issued in St. Vincent.
Privacy of a St. Vincent Company
St Vincent and the Grenadines is considered a highly confidential jurisdiction with moderately strong confidentiality laws.
Information on directors and shareholders is accessible for public inspection. This information is filed with the Registrar of Companies and is available to the public upon paid request.
The corporate registers are kept at the company’s registered office and maintained by the registered agent. For the BC companies, the registers are also filled to the Financial Services Authority of St. Vincent.
Information on the beneficial owners of the company can only be disclosed to authorities of other countries and only upon official legal request from such authorities.
Economic Substance Requirements In St. Vincent
A company incorporated in St. Vincent and the Grenadines is subject to economic substance requirements.
According to the International Cooperation (Economic Substance) Act, 2020, a St. Vincent company involved in the relevant activity shall ensure that it satisfies the economic substance requirements.
For the purposes of the Economic Substance Act, relevant activities are as follows:
- Banking business;
- Distribution and service centre business;
- Finance and leasing business;
- Fund management business;
- Headquarters business;
- Holding business;
- Insurance business;
- Intellectual property business; and
- Shipping business.
St. Vincent companies that do not conduct the above activities are not relevant entities and do not fall under the scope of the economic substance requirements.
For companies with a holding business as the relevant activity, only the relaxed economic substance requirements are applicable.
Reporting Requirements in St. Vincent and the Grenadines
Companies carrying on business activities in the territory of St. Vincent and the Grenadines are required to file financial statements on an annual basis starting one year after the date of incorporation.
There are no such requirements for offshore BCs and LLCs that do not conduct activities in the territory of St. Vincent and the Grenadines. Instead, they need to file a simplified return form that confirms the place of business outside of St. Vincent.
Key Features of St. Vincent company
General Information
- Jurisdiction – Independent nation
- Entity type – BC & LLC
- Corporate Tax – 0%
- VAT – 0%
- Currency – XCD and USD
- Currency Exchange Control – No
- Legal framework – Common Law
- Recognition of Trust – Recognised
- Court of Final Appeal – the Caribbean Court of Justice
Business Activity Restrictions
- Business Activity Restrictions – No. Subject to standard licensed types of activities.
- Economic Substance Requirements – Applicable
Requirements to Directors
- Register of Directors – Publicly not accessible. Stored in the Registered Office
- Minimum Number of Directors – 1
- Corporate Director – Available
- Local director – Not required
- Nominee Director – Available
Requirements to Secretary
- Secretary – Not required. Optional.
- Local Secretary – Not required.
Requirements to Shareholders
- Register of Shareholders – Publicly not accessible. Stored in Registered Office
- Minimum Number of Shareholders – 1
- Corporate Shareholder – Available
- Annual General Meeting – Not required
- Location of Meetings – Anywhere in the World
- Nominee Shareholder – Available
Share capital
- Minimum Authorized Share Capital – USD 1
- Standard Authorized Share Capital – USD 50,000
- Minimum Issued Share Capital – USD 1
- Currency of Share Capital – USD or any other
Reporting Requirements
- Preparation of Accounts – Not required
- Filing of Annual Return – Not required
- Publicity of Annual Return – Not public
- Audited Accounts – Not required
Other features
- Redomiciliation to/from Jurisdiction – Permitted
- Shelf companies – Available
Frequently Asked Questions
What are advantages of forming a company in St. Vincent?
St. Vincent offers several advantages for company formation, including favourable tax policies, privacy protection for shareholders, and a straightforward regulatory framework. These factors make it an attractive option for entrepreneurs and businesses looking to expand their operations internationally.
What are the steps involved in St. Vincent company formation?
The steps for St. Vincent company formation typically include choosing a company name, preparing incorporation documents, submitting the application to the Registry of Companies, and obtaining incorporation documents. Contact us for more details.
What types of companies can be formed in St. Vincent?
In St. Vincent, you can form various types of companies, including International Business Companies (IBCs), Limited Liability Companies (LLCs), and Series LLC. Each type has its own legal structure and benefits, depending on your business needs.
Are there any specific requirements for shareholders and directors in St. Vincent company formation?
Yes, St. Vincent company formation requires at least one shareholder and one director, who can be the same person. There are no residency requirements for shareholders or directors, allowing for flexibility in international business operations.
Can foreign nationals own a company in St Vincent?
Yes, foreign nationals can fully own and control a company in St Vincent. The jurisdiction welcomes foreign investment and provides a conducive environment for international business operations.
Do I need a local director for my St Vincent company?
No, a local director is not required for the formation of an International Business Company (IBC) in St Vincent. Foreigners can serve as directors and shareholders without the need for local representation.
