St. Vincent Offshore Business Setup: Benefits, Process & Expert Tips
Executive Summary St. Vincent and the Grenadines (SVG) ranks among the top offshore jurisdictions…
St. Vincent & Grenadines Company Formation
Register a company in St. Vincent & the Grenadines in days with tax exemptions, robust privacy laws, and expert support for a smooth process.
Benefits
Register a Company in St. Vincent & the Grenadines
No incomes, capital gains, inheritance taxes
No tax for profits from trading business with CARIBCAN
No annual financial records are required
No searchable beneficial ownership information
No foreign exchange preventions
Member of the Commonwealth of Nations
English-based law legal system
St. Vincent & Grenadines Company Formation Packages
Basic
US$900Annual Renewal USD 800
- • Unlimited Name Availability Check: Ensure your chosen company name is unique and available.
- • Document Preparation and Filing: All necessary documentation is prepared and submitted on your behalf.
- • Expedited Incorporation Process: Company incorporation completed efficiently.
- • One Year of Secretarial Services: Comprehensive company secretarial support for one year.
- • One Year Registered Agent and Address: Provision of a local registered agent and address for one year.
- • All Government Fees Included for One Year: Covers all government-related fees for the first year.
- • Digital Corporate Documents: Receive all essential corporate documents in digital format.
This package provides all the necessary services for a foreigner to establish a new St. Vincent & Grenadines International Business Company (IBC) from start to finish.
Standard
US$1100Annual Renewal USD 800
- • Everything in the Basic Package: Includes comprehensive services for setting up an Anguilla Business Company (BC).
- • Bank Account Opening: Assistance with opening a bank account.
- • One-Time Application Fee: Covers the application fee for one bank account.
- • Bank Account Introduction: Introduction service to any bank on the supported list.
- • Certificate of Incumbency: Provided if required.
Premium
US$1200Annual Renewal USD 800
- • Everything in the Standard Package: Includes all the comprehensive services provided in the standard package.
- • Premium Banking Support: Enhanced support for bank account services.
- • One-Time Application Fee: Covers the application fee for up to 5 banks or until the account is successfully opened, whichever comes first.
- • Consulting on Alternatives: Expert advice on suitable alternatives if the initial application is not approved.
- • Remote Bank Account Opening: Facilitates opening a bank account remotely.
- • Fast Response: Prompt assistance available even on weekends.
- • Frequent Updates: Regular updates on the bank account opening process to keep you informed.
Offshore Company Incorporation Process
The following proofs are required for all company members including Directors, Shareholders, Ultimate Beneficial Owners (UBOs), and Contact persons.
KYC Documents Checklist
KYC documents are essential to verify the identity of individuals and corporations in St. Vincent & Grenadines. Below, you’ll find a list of the required documents.
- A certified true copy (scanned version) of the passport (valid for at least 6 months)
- A certified true copy (scanned version) of driver's license or national ID
- Bank reference letter & professional reference letter (minimum 3-year relationship), must be dated within the last 6 months and include the contact details of the issuer
- A Curriculum Vitae (C.V.), resumé, or LinkedIn profile
To establish the identity of a corporation or entity, it is necessary to provide company documents and proof of identity for its members.
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Frequently Asked Questions
How do I register an offshore company in St. Vincent and the Grenadines?
To register an offshore company in St. Vincent and the Grenadines, you must choose a unique company name, appoint at least one director and one shareholder, and submit the required incorporation documents to the Financial Services Authority (FSA). The incorporation process typically takes one to three business days. An International Business Company (IBC) in St.
Vincent must also have a registered agent and a local office within the jurisdiction to comply with the International Business Companies (Amendment) Act.
What are the benefits of registering an offshore company in St. Vincent and the Grenadines?
St. Vincent and the Grenadines (SVG) is a tax-free offshore jurisdiction with no corporate taxes, capital gains taxes, or withholding taxes for IBCs. The country has no foreign exchange controls, ensuring smooth international transactions. SVG offers strong privacy laws, with no public registry of directors or shareholders, making it one of the most confidential offshore jurisdictions. Additionally, there are no annual reporting or auditing requirements for most IBCs, reducing administrative burdens. The Financial Services Authority (FSA) oversees offshore company registration and regulatory compliance.
What types of offshore companies can be formed in St. Vincent and the Grenadines?
The International Business Company (IBC) is the most common offshore entity, suitable for international trade, investment holding, wealth management, and asset protection. Other available structures include Limited Liability Companies (LLCs) and Limited Partnerships (LPs), which provide additional flexibility for different business activities. These entities operate under the International Business Companies Act and are regulated by the Financial Services Authority.
What documents are required to register an offshore company in St. Vincent and the Grenadines?
To incorporate an SVG IBC, the required documents include a passport copy for each director and shareholder, proof of address such as a utility bill or bank statement, details of the company name and business structure, and the Memorandum and Articles of Association. A registered agent licensed by the Financial Services Authority (FSA) is mandatory to handle the incorporation process.
Do St. Vincent and the Grenadines offshore companies have to pay taxes?
SVG IBCs are fully exempt from corporate tax, capital gains tax, and withholding tax, provided they do not conduct business within St. Vincent and the Grenadines. This tax-free status makes SVG an attractive destination for international business operations. However, business owners should comply with tax laws in their home country to avoid legal issues.
Are bearer shares permitted in St. Vincent and the Grenadines?
No, bearer shares are not permitted. All shares must be registered in the name of the shareholder to ensure compliance with international financial transparency regulations, such as the OECD Common Reporting Standard (CRS) and Financial Action Task Force (FATF) guidelines.
What is the renewal process for an offshore company in St. Vincent and the Grenadines?
Offshore companies in SVG must renew their registration annually by paying the government renewal fee and maintaining a registered agent and office in the jurisdiction. The renewal process is managed through the Financial Services Authority, ensuring that companies remain in good standing. Companies that fail to renew on time may face penalties or removal from the company register.
Does St. Vincent and the Grenadines impose taxes on offshore companies?
No, St. Vincent and the Grenadines IBCs benefit from a full tax exemption, meaning no corporate income tax, capital gains tax, or withholding tax applies. This makes SVG one of the most cost-effective offshore jurisdictions for tax-efficient corporate structuring. The International Business Companies Act governs the tax-free status of offshore companies.
Are there foreign currency restrictions in St. Vincent and the Grenadines?
No, there are no foreign currency restrictions in St. Vincent and the Grenadines. Offshore companies can transact in any currency without limitations. The official currency is the Eastern Caribbean dollar (XCD), but US dollars are widely accepted, ensuring stability for international businesses. The financial sector is overseen by the Eastern Caribbean Central Bank (ECCB).
What are the annual compliance requirements for an SVG IBC?
An SVG IBC must maintain a registered agent and a registered office in the country, pay an annual renewal fee, and keep internal business records. There are no requirements for financial reporting, tax returns, or audits unless the company engages in regulated activities such as
banking, insurance, or investment fund management. The Financial Services Authority (FSA)
ensures compliance with local laws while keeping regulatory burdens minimal.
Is there a requirement to file annual financial statements?
No, St. Vincent and the Grenadines offshore companies are not required to file annual financial statements or tax returns. However, companies should maintain internal records to ensure compliance with international regulations, especially if engaging in cross-border financial transactions.
Is it possible to open an offshore bank account for an SVG IBC?
Yes, an SVG IBC can open offshore bank accounts in major financial centers such as Switzerland, Hong Kong, Singapore, and the Caribbean. St. Vincent also offers offshore banking services with multi-currency accounts, online banking, and high levels of financial privacy.
Offshore banking is regulated by the Financial Services Authority (FSA) and the Eastern Caribbean Central Bank (ECCB).
What documents are required to open a bank account for a St. Vincent offshore company?
Most banks require a Certificate of Incorporation, Memorandum and Articles of Association, a resolution appointing authorized signatories, passport copies of directors and shareholders, proof of address, and a business plan or nature of business statement. Banks also require Know Your Customer (KYC) and anti-money laundering (AML) documents as part of their due diligence procedures.
Can an SVG IBC open a bank account remotely?
Yes, many offshore banks allow SVG IBCs to open accounts remotely without requiring a physical visit. The process varies by bank but generally includes submitting notarized or apostilled documents, video verification, or an introduction from a corporate service provider. Some banks may require a reference letter from an existing financial institution. Offshore banking services are regulated by the Financial Services Authority (FSA).
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