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Company registration in St Vincent and the Grenadines (SVG)

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Overview of St Vincent and the Grenadines Jurisdiction

The nation of Saint Vincent and the Grenadines, commonly referred to as "St. Vincent," or “SVG” is situated in the Caribbean Sea, adjacent to the Atlantic Ocean and near the islands of Barbados and Grenada. This archipelago is home to approximately 100,000 people.

St. Vincent and the Grenadines offers a unique option for companies registration. Known for its efficient legal framework, this country's legal system is influenced by British law, providing a familiar environment for international businesses. While International Business Companies (IBCs) used to be a popular choice, the jurisdiction has evolved, and these are no longer available.

In this landscape, businesses can choose from other forms of entities, such as Limited Liability Companies (LLCs) or Business Companies (BC), which offer flexible management structures and limited liability to owners. One of the key attractions of setting up a company in St. Vincent and the Grenadines is the favorable tax environment. Companies typically benefit from low or even zero taxation on the income generated, particularly from outside the jurisdiction, adding to the financial allure of international businesses.

Privacy and confidentiality are also notable features here. The jurisdiction offers a high degree of anonymity for business owners, with stringent laws ensuring the confidentiality of financial transactions. This aspect is particularly appealing to those seeking to maintain privacy in their business dealings.

St Vincent and the Grenadines Company Registration Services

We can offer a range of services for St Vincent and the Grenadines company registration, catering to the needs of international businesses and investors. The general process and features of company registration services in St. Vincent and the Grenadines include:

Initial Consultation and Advice

Guidance on the most suitable type of company structure for the business's needs.

Company Formation and Registration

Assistance with choosing and registering a company name, preparation and filing of necessary incorporation documents, such as articles of incorporation, payment of government fees and handling all administrative procedures.

Registered Office

Provision of a registered office address in St. Vincent and the Grenadines

Legal and Compliance Services

Advice on local laws, including tax laws and employment regulations.

Additional Services

Consultation on tax planning and asset protection strategies, support with obtaining business licenses and permits, if necessary.

After Registration Support

Ongoing legal and administrative support for the company’s operations.

Types of St. Vincent and the Grenadines Companies

In St. Vincent and the Grenadines, the two primary types of companies that can be established are Business Companies (BCs) and Limited Liability Companies (LLCs). Each type has its own set of characteristics and is suited for different business needs.

Business Companies (BCs)

Business Companies, which have evolved from the earlier form of international business companies, can be established in St. Vincent and the Grenadines for conducting various lawful business activities.

Key requirements and features of Business Companies include:

  • Appointment of a Registered Agent in St. Vincent and the Grenadines, who is responsible for all submissions to the Registrar of Business Companies.
  • Provision of comprehensive customer due diligence information concerning the Ultimate Beneficial Owner, Shareholder, and Director to the Registered Agent before applying for incorporation. Provision of a clear declaration of the intended business activity at the time of incorporation.
  • A restriction against engaging in activities that require a specific license (such as mutual funds, international banking, or international insurance business) unless the necessary license has been obtained.
  • The possibility of having a single director and a single shareholder.
  • An obligation to issue only registered shares, with bearer shares being prohibited.
  • Compliance with economic substance requirements where applicable.

Furthermore, shareholders, directors, and officers of a Business Company registered in St. Vincent and the Grenadines can reside anywhere globally, and they have the flexibility to hold their meetings in any location. There are no residency or nationality restrictions for these roles.

In terms of taxation, Business Companies are subject to taxes on income earned within St. Vincent and the Grenadines. Following incorporation, the Business Company must acquire a Tax Identification Number (TIN) from the Inland Revenue Department.

Limited Liability Companies (LLCs)

In St. Vincent and the Grenadines, Limited Liability Companies (LLCs) are established to engage in lawful business activities. To form an LLC, the application process involves liaising with a licensed Registered Agent within the country.

An LLC operates under an Operating Agreement, which outlines the roles and interests of managers and members. The LLC Act in St. Vincent and the Grenadines accommodates the formation of both Single LLCs and Series LLCs.

For the formation process, it is essential to submit Articles of Formation and the necessary fees to the Registrar of Limited Liability Companies.

Key aspects of Limited Liability Companies include:

  • A requirement to engage a Registered Agent in St. Vincent and the Grenadines, who will handle all submissions to the Registrar of Limited Liability Companies.
  • A necessity to provide comprehensive customer due diligence details, including information about the Ultimate Beneficial Owner, Manager, and Members to the Registered Agent before applying for formation.
  • A clear statement of the intended business activity at the time of formation is essential.

Managers, members, and officers of an LLC formed in St. Vincent and the Grenadines have the flexibility to reside anywhere globally. Moreover, they can convene their meetings in any location of their choosing. Importantly, there are no specific residency or nationality requirements for managers, members, or officers of St. Vincent and the Grenadines LLC.

LLCs are tax-exempt (taxa transparent) organizations in St. Vincent and the Grenadines.

Why Choose St. Vincent and the Grenadines?

Choosing St Vincent registration offers several advantages, making it an attractive jurisdiction for business owners and investors. Some of the key reasons include:

Tax Benefits

Offers potential tax exemptions for income generated outside the jurisdiction, enhancing profitability for international businesses.

Privacy and Confidentiality

Strong privacy laws ensure the confidentiality of shareholder and director information, appealing to those seeking discretion.

Stability

The country's stable political environment and growing economy provide a secure setting for investments.

Corporate Flexibility

Various corporate structures like LLCs and BCs allow businesses to choose the best fit for their needs.

Efficient Registration

SVG company registration is fast and streamlined, often completed within few days.

No Exchange Control

Free movement of capital and profits is facilitated, crucial for global business operations.

Robust Legal System

Influenced by British common law, it offers a reliable and business-friendly legal environment.

No Residency Requirements

Directors, shareholders, or officers of companies do not need to be residents, offering great flexibility for international business.

Asset Protection

Laws offer strong asset protection features, useful for safeguarding assets.

Compliance with International Standards

The jurisdiction aligns with international regulatory standards, ensuring global respect and recognition for businesses.

Required Documents for St. Vincent Company Incorporation

To help with St Vincent and Grenadines company formation, we would need the following documents:

  • Notarized colored copy of international passport
  • Notarized colored copy of national ID or other personal document
  • Notarized copy of a utility bill or similar document, not more than 3 months old as proof of residential address
  • Reference from a bank or lawyer
  • Confirmation of the source of funds necessary for running the business using SVG company

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Taxation in St. Vincent and the Grenadines

Taxation in St. Vincent and the Grenadines is characterized by a relatively investor-friendly regime, especially for international businesses. We describe taxation for business companies below.

  • Corporate Tax. For business companies, the tax regime is favorable, and only local-sourced (earned in SVG) is taxed, subject to the fullfillment of certain conditions.
  • Capital Gains Tax. There is no capital gains tax in St. Vincent and the Grenadines, which is a significant advantage for investors and businesses involved in buying and selling assets.
  • Dividends tax. There is no withholding tax on dividends.
  • VAT. No VAT applies to a St. Vincent offshore company.

St. Vincent and the Grenadines Legislation

St. Vincent's legal framework is rooted in common law, providing a solid foundation for its legal proceedings and business regulations.

In the realm of financial services, St. Vincent and the Grenadines operate under a distinct legal framework. The Companies Act is a key piece of legislation governing Business Companies (BCs), while other important laws include the Limited Liabilities Companies Act and the International Trust Act. The Financial Services Authority (FSA) is responsible for overseeing the non-banking financial services sector.

For companies specializing in brokerage and forex activities, registering in St. Vincent and the Grenadines presents a favorable option. Notably, obtaining a financial license in St. Vincent for these activities isn't mandatory; however, companies must secure such licensing in the jurisdiction where they operate.

Process of St. Vincent Company Formation

The process of St Vincent and the Grenadines company formation can be outlined in a few key steps. While the process is relatively straightforward, it's important to follow each step carefully to ensure legal compliance and a smooth establishment of the business. Here's a general overview:

  • Selection of a Company Type and Name. As a first step in the process of St Vincent company formation, you will have to decide on the type of company (e.g., Business Company or Limited Liability Company) best suited for your business needs. Choose a unique company name and ensure it complies with St. Vincent's naming regulations.
  • Preparation Documents and Due Diligence: Submit to us all required information and documents on the Ultimate Beneficial Owners, directors, or members. Based on this information, we will prepare necessary incorporation forms and submit them the authorized person.
  • Registration and Compliance: Once all documents are submitted and fees paid, the Registrar of Companies will process the application. The formation process is usually quick, often completed within few days. Following registration, you will have to obtain any necessary licenses or permits for your business activities, especially if operating in regulated sectors.
  • VAT. No VAT applies to a St. Vincent offshore company.

After these steps are completed, the process of St Vincent & the Grenadines company registration is done and the company is officially formed and can commence operations.

Additional Business Services in SVG

Except for company formation in St Vincent and Grenadines, we can help you with legal advice on corporate and tax structuring, compliance and regulatory matters, assist with opening an account for the company.

InteliumLaw's advantage in company registration in SVG

1. Expertise in Local Laws. Our knowledge of SVG's legal and regulatory framework ensures compliance and efficient handling of the registration process.

2. Streamlined Processes. We have experience with the local bureaucracy which can expedite the company formation process, potentially saving time and reducing administrative burdens.

3. One-Stop Solutions. Our comprehensive services including company formation, provision of a registered agent, and additional legal services.

4. Tailored Advice. We offer customized solutions based on the specific needs and business objectives of clients.

5. Networking and Connections. InteliumLaw has an access to a network of local and international banks, financial advisors, and other essential services.

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FAQ

Is a visit to St. Vincent required to incorporate my company?

No, a visit to St. Vincent and the Grenadines is not typically required to incorporate a company there.

What key features make St. Vincent an attractive jurisdiction for company formation?

St. Vincent is an attractive jurisdiction for company formation due to its favorable tax environment, strong privacy laws, political and economic stability, efficient registration process, absence of exchange control regulations, and no residency requirements for company directors or shareholders. This combination makes it appealing for international businesses seeking cost-effective, flexible, and discreet operational frameworks.

How does taxation work for businesses registered in St. Vincent and the Grenadines?

Business Companies (BCs) in St. Vincent and the Grenadines benefit from a territorial taxation system, meaning they are exempt from income tax on offshore-sourced income, as per the Income Tax (Amendment) Act of December 30th, 2020 (subject to certain conditions).

What is the privacy level for St. Vincent offshore companies, especially concerning shareholder information?

In St. Vincent and the Grenadines, offshore companies enjoy a high level of privacy, especially regarding shareholder information. The country's legal framework ensures that the identities of shareholders are not publicly disclosed. This confidentiality is a key feature of their offshore services, providing an added layer of privacy for individuals and entities that establish companies in this jurisdiction

Are there different types of companies I can register in St. Vincent?

Yes, most commonly used types of companies are business companies and limited liability companies.

Can you explain how to open a bank account for a St. Vincent company?

Opening a bank account for a St. Vincent company can be a challenging task, particularly in terms of meeting compliance and due diligence requirements of international banks. However, to explore the available options and receive tailored assistance, contacting  InteliumLaw is advisable. We can provide guidance on the current banking landscape and help with the process. On the other hand, opening a cryptocurrency account for a St. Vincent company tends to be more straightforward and can be achieved with relative ease

What additional services do you offer beyond the company formation process?

InteliumLaw offers a range of services beyond company formation, including providing ongoing legal advice, helping with compliance and regulatory matters, offering support for banking and financial services, and assisting with the management and administration of the company.

Other services

Bank and merchant accounts opening

Inteliumlaw has a developed network of foreign banks and non-banking financial institutions, as well as payment aggregators around the world to offer our clients tailored Payment Solutions for Business. We help our clients with the selection of an institution for opening an account that meets their goals and wishes and fully support the account opening process, including bank compliance stage. We provide services for opening personal and corporate, current, savings and wealth management accounts, merchant accounts, accounts in crypto-processing, which allow our clients to accept payments in crypto-currencies. Corporate accounts well-functioning Corporate Bank Account is an important element for any type of businesses, regardless of jurisdiction or industry. Company exists only on paper if it does not have a bank account. It could not be a fully-functional market participant, conduct its activities, accept incoming and make outgoing payments, accumulate earned funds, and distribute profits. Even working with cryptocurrencies, in order to organize transparent activity of your business, increase economical substance, etc. your company will need a bank account, as well as solutions allowing processing of crypto-payments on your web-site and conversion of cryptocurrencies into fiat. Based on the analysis of your business, our firm will advise you on payment solutions the most suitable for your business needs and help you to Open Bank Account with a Foreign Bank. It could be a traditional account with a foreign bank and/or account with non-banking financial institutions (Electronic Money Institutions, Payment Institutions), integration with payment aggregator or crypto processing. Process of opening accounts in banking institutions is becoming an increasingly complex. Banks are ready to consider the most transparent businesses with a low-risk level, in particular traditional offline businesses. The nexus approach becomes more popular, as a result just limited number of banks accept foreign companies (not incorporated in/tied to the country of bank location). Given all the difficulties with opening accounts in traditional banking institutions, accounts in non-banking financial institutions (EMI or PI) are considered as solutions for online businesses – software companies, eCommerce, digital marketing, online gambling and others. At the same time, it should be noted that due to the tightening of global legislation in the field of combating the financing of terrorism and money laundering, passing the Know Your Client (KYC) procedure during the acceptance of clients has become more difficult not only in banks but also in non-banking financial institutions. To open an account, it will be important for the client to show the business plan for the project / business, justify the source of wealth for the business and beneficiaries, ideally, disclose the experience in the chosen business field, the planned first contracts with clients, and so on. Inteliumlaw will be happy to assist you with selection of a relevant payment solution for your business, support the process of account opening and make it to the extent possible smooth and easy. If you have any questions or require assistance, please contact our specialists. Personal bank account Opening personal accounts in reliable banking jurisdictions for the placement of distributed profit, saving and disposing of personal funds is a matter of particular importance that every business owner faces. The choice of a bank in this case can significantly affect the level of asset protection. Depending on the goals pursued by the client, it is possible to open two types of accounts: current account and savings account. It should be note that today only few banks are ready to consider foreign clients for the purpose of current accounts opening. In this regard, accounts in non-banking payment institutions (Electronic Money Institutions, Payment Institutions) are becoming increasingly popular, which, due to their functionality, can fully replace ordinary banks. Savings accounts It should be note that today only few banks are ready to consider foreign clients for the purpose of current accounts opening. In this regard, accounts in non-banking payment institutions (Electronic Money Institutions, Payment Institutions) are becoming increasingly popular, which, due to their functionality, can fully replace ordinary banks. Today, the process of personal account opening is no less complicated than the process of opening a corporate account. Banks carefully check the candidacy of potential clients within the KYC procedure. Among others, the key aspects of the research are the source of origin of clients’ funds, its history, reputation, etc. If you are interested in opening of a personal current or savings account, please contact our specialists, we will be happy to help you with your query. Leave Us A Message And we wil get back to you Contact Us Other services Leave a request for a service The accumulated experience and tracking of future changes in this area allow us to be proactivefor our clients and develop the most adapted business structures to modern conditions. By submitting this form, you hereby authorize Inteliumlaw to process your information for the purpose of addressing your inquiry. You retain the right to revoke this consent at any point. For further details, please review our Privacy Policy.

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Ongoing Legal Support

The activities of any company must comply with the current legislation. It is difficult to imagine all processes without legal business support. The specialists of Intellium Law know all the peculiarities of work and legal regulation of various areas of business and have extensive experience in legal support of IT, gambling, e-commerce, cryptocurrency business, production, trade, restaurant business, telecommunications business, investment business, real estate business and other areas. This allows our specialists to provide high-quality business legal support services to companies of any size and form of ownership. Legal support and business protection: what is it? Complex legal support of business involves a whole series of measures aimed at supporting business in compliance with the necessary regulations. It also allows you to prevent and reduce legal and tax risks, protect the capital and interests of the owners of the company/group. The procedure involves legal management of operational activities, verification of counterparties, agreements and documentation. By agreement, legal support may include participation in the company’s litigation, which, in most cases, is not included in the usual package. Many business owners prefer to have an in-house lawyer. But subscription legal business support from law firms offers more advantages. Here are the most famous of them: Cost reduction. Usually, the services of a third-party firm are cheaper than paying the salary of an in-house lawyer on an ongoing basis. Collective support. One specialist will not be able to perfectly understand all the nuances of each process. A team of professionals will cope with any tasks much better. Diligence. One lawyer cannot always cope with a high workload and keep track of all changes in legislation. Speed. The team will be able to cope with a much larger volume of work in a shorter period of time than one specialist. Quality. Usually, in law firms, any task goes through several levels of review from a junior to a senior specialist and final approval by partners. In what cases are business legal support services required? Running a business without subscription legal service and support is a very risky activity. After all, the company carries out activities with a constant risk of violating the current law and is legally unprotected. Therefore, it should be emphasized that legal support of small businesses, medium and large enterprises is a daily necessity. The service of legal support for business purchase and sale agreements and investment projects is also very popular. In this case, the buyer has confidence that the company’s activities comply with the current laws and the criteria stated by the seller, and that the investment asset is properly registered and will not create any legal/tax risks for the investor. Leave Us A Message And we wil get back to you Contact Us Other services Leave a request for a service The accumulated experience and tracking of future changes in this area allow us to be proactivefor our clients and develop the most adapted business structures to modern conditions. By submitting this form, you hereby authorize Inteliumlaw to process your information for the purpose of addressing your inquiry. You retain the right to revoke this consent at any point. For further details, please review our Privacy Policy.

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International Corporate Structuring

International Structuring

International structuring is of great importance for any business, both already functioning and planning to enter the international market. The correct organization of the legal structure and rational tax planning is the initial and basic guarantee of successful business development in the future. Given the current global trends, among the rest of the automatic exchange, counteracting the erosion of the tax base, the shift of profits, and other measures to combat tax evasion, the competent structuring of business in world markets becomes even more important. The support of professionals in this area will be of great importance for the adaptation of businesses to various innovations, ensuring their continuous operation and protecting interests in the new realities. The most optimal solution is to entrust the planning to a specialized law firm. Key factors International structuring is an extensive set of legal processes. All of them contribute to protecting business assets, minimizing legal and tax risks, using the most rational ways in the field of taxation, and solving other tasks set by the client. The necessary solutions are developed using legally acceptable mechanisms and tools. Specialists use the available tools in such a way as to ensure the maximum effectiveness of the measures taken to protect and optimize the business of clients. A full international structuring in most cases consists of the following steps: First, a meeting or call is scheduled with the client. During it, we discuss the initial data, as well as determine the goals and objectives. Our experts analyze the provided description, work out all the preliminary options and possibilities. Further, communication with the client continues to clarify the details and features, preliminary agreement on possible jurisdictions and mechanisms for their further more detailed consideration by professionals. A memorandum is being prepared outlining the structuring options. Next, the specialists present the options developed in the memorandum to the management of our client. After that, we further discuss and agree on the most suitable options. At the final stage, our company provides full support for the implementation of the structuring option, and individual restructuring elements chosen by the client. Benefits A number of positive factors influence the demand for the services of our lawyers. Our specialists have significant experience in international planning, they know the practical features and all the possible difficulties that may arise in this area. Inteliumlaw constantly monitors current trends, planned transformations and innovations in the field of international taxation. Thanks to the accumulated experience and monitoring of upcoming changes in this area, we work proactively for our clients and develop structures for businesses that are most adapted to modern conditions. Our offer Our specialists provide full support for the process of international corporate structuring. Inteliumlaw provides a wide range of services in this area. Specialists conduct preliminary consultations on optimizing the structure of groups of companies. At the request of our client, we prepare legal opinions on the peculiarities of the work of jurisdictions and taxation in certain countries. Our company develops optimal business structures according to customer requests. We take into account the peculiarities of the business and the priorities set. We also analyze the current structures of groups of companies and their restructuring. Inteliumlaw provides full legal support for the implementation of the developed business structure, as well as the inclusion of individual companies in the group structure. In addition, our client can receive a complete implementation of the international business structuring project with professional support at every stage – from consulting to the full implementation of the project. Other services Leave a request for a service The accumulated experience and tracking of future changes in this area allow us to be proactivefor our clients and develop the most adapted business structures to modern conditions. By submitting this form, you hereby authorize Inteliumlaw to process your information for the purpose of addressing your inquiry. You retain the right to revoke this consent at any point. For further details, please review our Privacy Policy.

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Leave a request for a service

The accumulated experience and tracking of future changes in this area allow us to be proactive
for our clients and develop the most adapted business structures to modern conditions.

By submitting this form, you hereby authorize Inteliumlaw to process your information for the purpose of addressing your inquiry. You retain the right to revoke this consent at any point. For further details, please review our Privacy Policy.

LEAVE A REQUEST FOR A SERVICE

The accumulated experience and tracking of future changes in this area allow us to be proactive
for our clients and develop the most adapted business structures to modern conditions.

By submitting this form, you hereby authorize Inteliumlaw to process your information for the purpose of addressing your inquiry. You retain the right to revoke this consent at any point. For further details, please review our Privacy Policy.