St. Vincent Offshore Companies

ST. VINCENT OFFSHORE COMPANIES

St. Vincent and the Grenadines is an independent English speaking nation, located in the Eastern Caribbean. IBC's incorporated in St. Vincent are completely free of all taxes for a period of 25 years. There are no exchange controls.

IMPORTANT - 1st January, 2015

As of 1st January, 2015, annual accounting and supporting records must be kept and the location must be filed with the Registered Agent each year. Forms will be sent to clients at the time of renewal and may be filed electronically. However, there is no current requirement for statements and/or audited reports to be presented to the Government, unless specifically directed to do so.

The original bearer shares are required by law to be kept at the Registered Office. Since most banks now require the original bearer shares to be kept by them, we would recommend changing to registered shares. If privacy is important we recommend appointing a nominee Shareholder to hold the registered shares in trust for the owner. Contact Maritime International Ltd. for details.

St. Vincent is an independent sovereign nation and is therefore not affected by the UK/EU legislation impacting the British Dependant Territories, the Isle of Man and the Channel Islands.

Please note that there is no maximum share capital limit for St. Vincent IBC's and no extra charges on share capital, as in other jurisdictions.

ST. VINCENT OFFSHORE COMPANY FEES

• Click Here for Typical St. Vincent Offshore Incorporation Fees
• Compare St. Vincent Offshore Company Fees to Other Jurisdictions
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OFFSHORE LEGISLATION

Offshore Companies in St. Vincent are governed by the International Business Companies Act, 1996 and their privacy is protected by the Confidential Relationships Preservation (International Finance) Act, 1996.

The legislation is simple and straightforward, allowing a great deal of flexibility in the design of offshore corporate structures suiting the client's needs. In particular the Act allows the Articles to set out any provisions not expressly prohibited by the Act.

The St. Vincent offshore company may use any of the following names:

"Limited", "Corporation", "Incorporated", "Societe Anonyme", "Sociedad Anonima", "Company", "Limitada", "Societe par actions" or "Aktiengesellschaft" or the abbreviation "Ltd", "Corp", "Inc." "A/S", "AG", "N.V", "B.V.", GmbH", "S.A." or any other words or abbreviations which signify limited liability and which are approved by the Registrar.

The offshore IBC must have at least one Director. If there is more than one shareholder, it must have at least two Directors. Directors may be individuals or may be Corporations. Directors may be of any nationality and may reside anywhere. Nominee Directors may be used and are provided by Maritime International Ltd. at no extra cost.

An annual meeting of the Board of Directors is required. This meeting however, may be held anywhere and may be by telephone, if desired.

There is no requirement for an annual meeting of shareholders. Shareholders' meetings may be conducted by telephone.

The following names may not be used for the offshore company, without a licence or special permission:

"Assurance", "Bank", "Building Society", "Chamber of Commerce", "Chartered", "Co-operative", "Imperial", "Insurance", "Municipal", "Royal", "Trust Company", "Trustee Company", or a word conveying a similar meaning.

GENERAL INFORMATION ON ST. VINCENT & THE GRENADINES

St. Vincent and the Grenadines is an English speaking independent nation in the Windward Islands of the Eastern Caribbean. St. Vincent, the largest island, is a densely green and mountainous island with a population of about 107,000. The capital city is Kingstown. St. Vincent and the Grenadines are among the most beautiful islands in the Caribbean, with the luxurious homes of many famous people.

The Grenadines are a chain of islands stretching from St. Vincent in the north to Grenada in the south. The northernmost island is Bequia, with its Admiralty Bay visited by yachtsmen from around the world.

St. Vincent has an excellent communications system with an undersea fibre optic cable linking it to the world. Direct dial, facsimile, internet and computer modem facilities are available. There are also excellent postal and courier services.

St. Vincent does not have an international jet airport. There are turbo prop aircraft serving the island, with international connections through Grenada, Barbados, Antigua and San Juan, Puerto Rico.

GOVERNMENT

St. Vincent and the Grenadines became independent on 27 October, 1979. The system of government is a parliamentary democracy on the Westminster (UK) style.

St. Vincent and the Grenadines is a member of the British Commonwealth with a Governor General appointed by Queen Elizabeth II of the UK. There is universal suffrage for all persons 18 years of age and over. The Prime Minister is the leader of the governing party and, together with his cabinet, forms the executive branch of the government.

The legislative branch is the House of Assembly consisting of 21 seats; 15 elected representatives and 6 appointed senators. Members are elected by popular vote to serve five year terms.

St. Vincent and the Grenadines is a member of the British Commonwealth, the United Nations, Caricom and other international organizations.

LEGAL SYSTEM

The legal system is based on English Common Law. Legislation governing offshore companies is contained in the International Business Companies Act, 1996.

MONETARY SYSTEMS & EXCHANGE CONTROLS

St. Vincent and the Grenadines is a member of the Eastern Caribbean Central Bank. The local currency is the Eastern Caribbean dollar which is pegged to the US dollar (US 1$ equals EC $2.6882). US currency is also widely used and is acceptable everywhere.

There are no exchange controls on the monetary transactions of St. Vincent offshore companies. Funds can be freely moved on and off the island.

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