Company Incorporation St. Vincent and the Grenadines
Company Incorporation in St. Vincent & the Grenadines
Saint Vincent and the Grenadines is an island country in the Americas, a member of the Commonwealth and CARICOM, located to the north of Venezuela and the island of Granada, in the chain of the Lesser Antilles of the Caribbean Sea. Saint Vincent and The Grenadines is an independent and politically stable jurisdiction, characterized by solid offshore financial regulation and strong confidentiality laws.
There is no minimum capital required, and it may be on a nonpaid up basis.
An LLC may be formed by one or more members who may be residents or non-residents and natural persons or corporations. Details of members are not publicly disclosed.
A manager may be appointed by the members, although it is not mandatory. If no manager is named, the management of the LLC is in proportion to the percentage share of the profits of the members.
The company may appoint a secretary, but it is not mandatory.
A company shall appoint a licensed registered agent and shall have a registered address and office in Saint Vincent and The Grenadines.
There is no statutory requirement for any formal meetings of members.
Companies may maintain accounting records. There is no requirement that these be filed with the Registrar.
There is no requirement to file an annual return or a tax return.
Corporate income tax – Saint Vincent LLC is a tax transparent entity, which means that any profits and losses are passed through to the members to be reported as personal income. There are no taxes, exchange controls, or fees on assets or income originating outside of Saint Vincent and The Grenadines, provided that LLC’s members are not tax residents in Saint Vincent.
Saint Vincent & The Grenadines levies personal income tax on tax resident individuals at progressive rates up to 32.5% on income accrued or remitted to the country exceeding XCD 10,000. Tax residents are individuals physically present in the country for at least 183 days in a year.
Real property tax is levied at a 5% rate on the market value of the property. There is a transfer tax on the sale of immovable property at 5% for both the buyer and the seller. There are no inheritance and wealth taxes.
Benefits of doing business in St Vincent and The Grenadines
• Politically stable jurisdiction
• Solid financial regulation
• Strong confidentiality laws