Saint Vincent and the Grenadines: Country and Foreign Investment
Investment Incentive Schemes
Saint Vincent & The Grenadines provides investment incentives in the areas of light manufacturing, agroprocessing, information technology, film, international financial services, tourism and other services. Benefits include tax holidays, repatriation of profits, duty free concessions and consumption tax exemptions. Tax holidays vary between 10 years and 15 years (the current nominal corporation tax rate in Saint Vincent and the Grenadines is 32.5%, down from 40% just a few years ago).
The Fiscal Incentive Act No.5 of 1982, specifies five groups of enterprises; the length of the tax holiday depends on the amount of the value added to a product in Saint Vincent and the Grenadines, the level of employment, inter-industry and sectoral linkages, the opportunity to earn foreign exchange, and the level of investment.
The main investment promotional agency is Invest Saint Vincent and the Grenadines launched in August 2009, formerly knows as the National Investment Promotions Incorporated (NIPI) agency, which launched on August 16, 2004, and reports to the Office of the Prime Minister, Dr Ralph Gonsalves.