St Vincent and the Grenadines BC

FACTS & INFO

• Corporate Information

  LEGAL FORM

  St Vincent and the Grenadines is an independent and politically stable jurisdiction. Limited Liability Companies there have one of the simplest and most straightforward registration procedures in the world, as well as some of the lowest incorporation and maintenance costs.

  Limited Liability Companies are tax exempt entities.

  Limited Liability Companies are frequently used for general business consulting, investments and for holding purposes offering asset protection and privacy.

  COMPANY NAME

  LLC names must include the phrase “Limited Liability Company” or “LLC” to meet legal requirements and clearly denote the type of entity structure. It is important to select a unique and memorable name to help with promoting brand identity and ensure the LLC name can be approved.

  SHAREHOLDERS

  A minimum of one shareholder is required, which may be an individual or a corporate body. The details of the company's shareholders are filed with the Registrar of Business Companies though they are not available to the public.

  SHARED CAPITAL

  There is no specific minimum capital requirement.The standard authorised share capital is 50,000. The minimum issued capital may be one share of no par value, or one share of par value.Registered shares, bearer sharers, share of non par value, preferences shares, redeemable shares and shares with or without voting rights are permitted. The International Business Companies (Amendmen) Act No.26 and 44 of 2022 allows the registration and custody of better share certificates but the registered agent, who must also keep a record of each bearer certificate issued or deposited in its custody. The record shall contain pertinent information relating to the company issuing the shares , th ID number of the share certificate, and the identity of the beneficial owner.

  DIRECTORS AND COMPANY SECRETARY

  The minimum number of directors is one, which may be a natural person or a corporate body. They may be of any nationality and need not be a resident of St Vincent and the Grenadines. Details of the company directors are filed with the Registrar of Business Companies though they are not available to the public.

  OPERATING AGREEMENT AND ARTICLES OF FORMATION

  A Limited Liability Company is governed by an Operating Agreement where the manager(s) and members are assigned interests in the LLC. The operating agreement specifies the rules governing the internal management of the company and the authority of the managers and members. The Articles of Formation must be filed with the Financial Services Commission and outline the objects of the LLC as well as details such as the company name, the registered office and registered agent details.

  MEMBER

  A minimum of one member is required, which may be an individual or a corporate body. The details of the company's beneficial owners and members are not part of the public records.

  CAPITAL CONTRIBUTION

  There is no specific minimum capital requirement. The minimum capital requirement can be in EUR or in USD and it can be as little as 1 USD or 1 EUR. The Register of Members as well as the Membership Certificates will be issued to record the capital contribution as well as the details of the member(s).

  MANAGER AND COMPANY SECRETARY

  The minimum number of managers is one, which may be a natural person or a corporate body. They may be of any nationality and need not be a resident of St Vincent and the Grenadines. Details of the company managers are not part of the public record. This information is kept only at the offices of the registered agent in complete confidentiality.

  A Limited Liability Company does not need to appoint a company secretary, although it is customary to do so. The secretary may be a natural person or corporate body of any nationality, and need not be a resident of St Vincent and the Grenadines.

  REGISTERED OFFICE

  A registered office must be maintained in St Vincent and the Grenadines at the location of a licensed registered agent.

  MEETINGS

  The meetings of Members and Managers need not be held in St Vincent and Grenadines All meetings may be held outside of the country, by telephone or other electronic means.

  INCORPORATION TIME

  Usually the incorporation time is one – two working days from receipt of all documents and payment, but we may need up to 10 working days to allow for legalisation of the documents and delivery by courier.

  RECURRING MAINTENANCE FEES

  As from the second year, there are recurring maintenance fees of $1.660. These include:

  • Provision of registered office and registered address
  • Provision of registered agent
  • Payment of annual government fee
  • Payment of the government license fees
  • Annual Compliance Fee
  • Holding of accounting records
  • Filing of Declaration of Solvency/ Financial Statements
  • Disbursement in relation to printing and scanning.
  • Provision of the registered office, registered agent and company secretary (must be renewed by December 31, irrespective of the date of incorporation)
  • The company must be renewed on January 1 of each year, irrespective of the month of incorporation.

• Taxation

  TAXATION

  Business Companies in St Vincent and the Grenadines have been subject to tax authorities since January 2019, at a rate of 30% on worldwide income. The country has amended its International Business Company Act and the International Trust Act to comply with the requests of the EU and the OECD. All BC’s must annually file tax returns in St Vincent and the Grenadines.

  AUDIT AND ACCOUNTING

  Large Companies which have a gross revenue exceeding four million dollars or assets exceeding two million dollars have to file financial statements with the Registrar of Companies within five months of the end of their financial year. Small companies must annually file a Declaration of Solvency. All BC’s must prepare financial statements and keep financial records indicating their financial position.

• Our Services and Requirements

  OUR SERVICES INCLUDE:

  • Name check and approval
  • Filling of incorporation documents with the Registry
  • A standard set of original corporate documents
  • Payment of the government fee
  • Provision of registered agent and registered address for one year (renewed by December 31, irrespective of incorporation date)
  • Rubber stamp

  Please note: If applying for a corporate bank account you will need to order a full set of apostilled company documents if the account is opened outside of St Vincent and the Grenadines.

  DOCUMENTS REQUIRED:

  Please provide the following documents for all directors, shareholders, beneficial owners, and authorised signatories:

  • Notarized or apostilled copy of valid passport
  • Notarized or apostilled copy of driver’s license or national ID card
  • Notarized or apostilled copy of utility bill or original utility bill showing residential address issued within the last three months. (A notarized or apostilled copy of a current driver’s license showing residential address is also acceptable as a proof of address and can be provided instead of a utility bill)
  • Reference from a bank, lawyer, chartered accountant or other professional for each beneficial owner

  IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES

  If you conduct any activity without the required license or authorisation granted by a relevant authority in any jurisdiction, New Company will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.

  Licensable activities include, but are not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.

  Please contact us if you need assistance in the licensing of your financial, Forex brokerage or gambling company.

  SHIPPING COSTS

  Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to your order during checkout. Shipping costs for international courier services are set automatically depending on geographic zones.