Saint Vincent or Saint Vincent and the Grenadines is an island country, located in the Lesser Antilles Arc of the Caribbean, in a region, that was once called the West Indies. This small state has a mixed economic system of private freedom, combined with a centralized economic planning and a government regulation. The tax exemption system makes this area a great tax haven for opening a company in St.Vincent and opening a bank account in St.Vincent.
As experts of YB Case note, the principles governing the functioning of low-tax zones began to operate here not so long ago, namely in the 90s. Low tax areas also include St. Vincent. The island government has successfully capitalized on the experience of other states that previously began to reform such regions and were able to create extremely effective laws, that work for the benefit of investors, who want to start their own business in St. Vincent.
In Saint Vincent, financial transactions, particularly between the islands and the United States through airspace, are well developed, and cruise ship services are regularly provided. With more than 100,000 visitors per year, economic growth is directly linked to the tourism industry. This information will be useful for those, who wish to establish a business in Saint Vincent.
It is an independent jurisdiction with a general law on confidentiality. But YB Case experts provide personal legal advice on the registration of a company in Saint Vincent, and draw your attention to the fact, that the country has signed an agreement on tax information exchange.
If you intend to register a business in Saint Vincent and open an account with banks in Saint Vincent, please note the best type of company for international trade and investment is the International Business Company (IBC). The equity of such an enterprise may be expressed in any currency.
A company registration in Saint Vincent and the Grenadines is based not only on a tax optimization, but also on consulting, international and online trading, brokering and beneficial registration of ships and yachts.
Key terms
- The registration: 2 - 3 days;
- A reception and the preparation of documents: 10 - 15 days;
- Opening a bank bank account in Saint Vincent: 15 - 20 days;
A COMPANY registration in Saint Vincent: advantages
- A tax exemption;
- No audit or accounting requirements;
- There are no requirements for an auditor;
- No public registries for beneficiaries;
- A developed communications network.
Requirements:
- 1 director;
- The authorized capital is 10 thousand dollars;
- A min deposit is 1 dollar;
- No reporting;
- The office: no requirements;
- The presence of a secretary is optional;
- Shares: authorized bearer.
YB Case pay attention of clients: the distinctive feature of this jurisdiction is the principles of taxation by territory. Residents’ income, whether inside or outside the country, is taxed by 40%. The same regime applies to individuals and legal entities. This does not apply to dividends.
If you decide to register an IBC in Saint Vincent, you can have significant benefits. In this jurisdiction, the rule on taxation with a rate of 10% to 35% of any profits made in the islands is abrogated by the Law on preferential taxes. Indeed, according to it, every foreign enterprise is completely free from taxes during the first 20 years of operation.
YB Case specialists are also provide legal support services in registering a company in St.Vincent remotely, as well as legal advice on how to open a bank account in the Caribbean.
