Setting up an offshore company in St. Vincent and the Grenadines
St. Vincent and the Grenadines (SVG) is located in the Caribbean Sea, 1600 miles southeast of Miami and 100 miles west of Barbados. Its beautiful surroundings, tropical climate and perpetual trade winds have made it a popular holiday destination, especially for those who love to sail. It consists of 32 islands.
The country gained independence from the United Kingdom in 1979. The legal, political and educational systems are British-based. It is a democratic, independent country with a high degree of political stability. This political stability has contributed greatly to the sustained economic growth of St. Vincent and the Grenadines.The main drivers of the economy are banana production and the increasingly supported tourism, offshore and financial services sectors. The government of St Vincent and the Grenadines has been praised by the IMF and the World Bank for its fiscal prudence. Its population is ~110,000. The official language is English.
Its capital is Kingstown, located on the main island of St Vincent. It has a natural deep-water harbour that can accommodate 2 cruise ships at a time. The capital is the country's economic centre. You can use Google maps to see the country here. The film Pirates of the Caribbean was shot here.
The official currency is the Eastern Caribbean dollar and is pegged to the US dollar. 1 USD is worth 2.68 Eastern Caribbean dollars.
Member of St. Vincent and the Grenadines:
- For the UN
- Commonwealth of Nations
- Organization of American States
- Organisation of Eastern Caribbean States
SVG is on the OECD white list because of its well-regulated and recognised legislation.
Benefits of incorporating offshore in St. Vincent and the Grenadines:
- Full tax exemption
- The details of the company are not public, but the name of the director must be submitted to the authorities.
- The shareholder is known only to the registered agent.
- The use of nominal directors and shareholders is allowed.
- You can set up a company with up to one director and one shareholder.
- The director and the shareholder can be the same person.
- There is no minimum or maximum subscribed capital.
- The amount of subscribed capital also does not need to be disclosed to the authorities.
- It may also issue bearer shares.
- The accounts can be kept anywhere in the world, no filing required.
- If you want to sue your company, you must first transfer USD 25 000 to the account of the St Vincent authorities.
- A registered office and registered agent must be in St. Vincent and the Grenadines, we provide this
- No annual return required
- No foreign exchange controls
- The laws of St Vincent guarantee complete confidentiality.
- You can have your own boat or aircraft on the island.
An offshore company registered in St. Vincent pays no tax, does not have to file an annual return and can carry out any activity with a few exceptions. To maintain it, it only has to pay annual fees, which generally consist of an annual licensing fee to the government, an annual registered agent fee, an annual registered office fee and other legal and administrative fees and certification fees. For an annual fee, there is the option to use a nominee director and nominee owner, which further increases discretion. The register of companies does not otherwise contain details of the owners, but the appointment of the director must be submitted to the government. The company documents will contain the address of the registered office and details of the registered agent.
Shareholder details are known only to the registered agent, who is subject to strict confidentiality rules.
Starting a business in St. Vincent and the Grenadines
Total price: 1 800 USD
Costs from the second year: 900,00 USD
Nominal shareholder and director annual fee: 1000 USD
+ free bank account management on the island