St. Lucia is an island located between the Eastern Caribbean Sea and the Atlantic Ocean. It’s situated near the islands of Barbados and Martinique. For over 15 decades, the English and French fought over this island. The French initially settled in Saint Lucia in 1660. In 1663, the British took over the island, and both nations went to battle fourteen times over this island. The British finally took over the island in 1814.
In 1979, St. Lucia got its independence. The political system of St. Lucia is a constitutional monarchy covering a parliamentary democracy with a prime minister and an elected two-house parliament. The official monarch of St. Lucia is Queen Elizabeth II of England. Its legal system has a mixed jurisdiction based in part upon England Common Law, while its 1867 Civil Code was based on French laws. Most citizens of this nation speak French despite its official language being English.
Benefits of registering the company
St. Lucia has a lot of of benefits. None of the directors and stakeholders names are included in the public documentation. Saint Lucia is safe jurisdiction. It has never been under suspicions with an international financial watchdog company or blacklisted. International Business Company doesn’t pay capital gains, income taxes, or corporate taxes. Nevertheless, everybody who’s subject to global income taxes and U.S. taxpayers must disclose all income to their government. Incorporating can take up to 2 to 3 working days.
The Commercial registry handles the incorporation of an International Business Company. Not many documents are needed-just filing the Articles of Association and an application. No annual filings and audits are needed unless the International Business Company chooses the 1 percent rate of income tax. International Business Companies opting for the income and corporate tax exemption doesn’t have to file a financial statement with the government. Accounting records and books may be prepared in any way.
Specificity of the registering
An International Business Company in St. Lucia can’t pick an organization name that’s similar to another legal entity’s name. The Commercial Registry conducts a free name search for availability along with a name reservation for a fee.
An International Business Company must use words such as Sociedad Anonima, Incorporated, Limited, or Corporation in its organization name.
An International Business Company can perform all forms of global business. Foreigners can create an International Business Company and own all of the organization’s shares.
Only one shareholder is needed to create an International Business Company. The shareholder can be a resident or citizen of any nation. Corporate bodies or natural persons can be shareholders. Nominee shareholders are allowed. Bearer shares are not permitted.
An International Business Company may issue these shares: shares, shares with or without par value, voting shares, and redeemable shares. A register with the shareholders’ addresses and names aren’t available to the public but kept at the registered office.
There is not any requirement for a minimum paid-up share capital or authorized capital. Most International Business Companies opt to authorize $50,000 despite there being no minimum authorized capital requirement. Also, there’s no requirement for a minimum paid-up share capital.
Only one director and one shareholder are needed, which can be a corporate body or the same person. Only one director is needed to create an International Business Company. The director can be a resident or a citizen of any country. Directors may be corporate bodies or natural persons. Nominee directors are permitted. A register with the directors’ names and addresses aren’t accessible to the public but kept at the registered office.
Officers aren’t a requirement. If one’s appointed, a corporate body or natural person can serve as an officer. Officers can be a resident of any place. While the shareholders’ annual general meetings are needed, they may be held anywhere around the globe. An International Business Company can perform almost any form of business and commercial activities in any part of the world except Saint Lucia. The only exceptions are for reinsurance, trust, insurance, and bank sectors which need licenses. Moreover, an International Business Company can’t own real estate in St. Lucia except as its own offices. International Business Companies must appoint a local registered agent and sustain a registered office address which may be the registered agent’s office. While the registered agent is needed to control a register of the directors and shareholders’ addresses and names, none of this data is accessible to the public.
In case you are interested in company registration in Saint-Lucia or bank account opening, please contact our specialists!