Company Formation in Saint Vincent – Overview
The independent state of Saint Vincent and the Grenadines located on islands of the Caribbean, is known for the investment attractiveness and loyal legislation for companies and corporations (non-residents).
Thanks to the supportive policy of the government of Saint Vincent and the Grenadines, business class representatives of most countries were able to open offshore companies. There is no terrain reference in the offshore zone to open settlement accounts. Each company is entitled to choose a servicing counterparty bank in any country of the world.
The company founders may be sure in security of their personal data. In Saint Vincent and the Grenadines, the anonymity and confidentiality of commercial and banking secrecy are maintained at the state level, so, company formation in Saint Vincent might be a good option.
Benefits of Company Formation in Saint Vincent
St. Vincent and the Grenadines offers the excellent opportunity for effective tax planning and optimization for companies and corporations (non-residents) from all over the world seeking to develop their profitable activities.
Data secrecy. All personal information of the company owners is protected by law;
The profit tax rate is equal to zero;
There is no currency regulation by the state;
Beneficiaries can use services of hired representatives from the number of resident shareholders and directors;
The company owners are exempt from binding accounting, financial reporting and regular audits;
Prompt and convenient registration procedure. In St. Vincent and the Grenadines, there are companies that prepare a full package of documents in line with the legislation in force for 1 − 2 days.
Specificity of Company Formation in Saint Vincent
Regardless of type of activity and areal location of the tax hub, Saint Vincent and the Grenadines promotes business with no tax payment.
Business owners are also given the opportunity to use the tool of the nominee service institute. De jure the beneficiary (the real company manager) makes decisions regarding economic and financial activity, and the de facto nominee director makes conclusions and support all legal transactions and actions.
Due to the possibility to avoid paying taxes on profit, capital gains (benefits derived from the sale of comapny assets), state fees, most non-residents prefer purchasing offshore in Saint Vincent and the Grenadines. To proceed with the registration procedure of the company, it is enough to form the authorized capital stock in the amount of one US dollar in constituent documents. Founders are not obliged to pay the specified amount.
All established companies operate as International Business Companies with the main advantage of the possibility to register a company in the country where the IBC commercial activity is not taxed or taxed at low interest rate.
Business activities are allowed outside the country of registration or only with other offshore International Business Companies in the country of registration.
The number of participants of the company or corporation shall be not less than two persons – A Shareholder and a Director (residents of any state). St. Vincent and the Grenadines officially allow the issuance of securities, shares without registration of the owner’s name.
The representatives of Private Financial Services offer intermediary services for office lease within the country, since the registration requires a valid legal address within the offshore zone to be completed.
In Saint Vincent and the Grenadines, it is not possible to do business on trust management of securities, to engage in the market of insurance and banking services.
Thanks to good practices, experience gained, qualified theoretical knowledge, the experts employed by the Private Financial Services will quickly and qualitatively help to open and register the business activity in Saint Vincent and the Grenadines.
In case company formation in Saint Vincent does not attract you, you can take a look at other low tax jurisdiction.