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Saint Vincent and the Grenadines

Saint Vincent and the Grenadines Flag

Country: Saint Vincent and the Grenadines
Region: Caribbean
Currency: East Caribbean dollar (XCD) (EC$)
Languages: English
Time Zone: UTC -4

Phone Code: +1784

Communications: Good

Formation Cost: 900 - 1700 USD$
Formation Time: 3 - 5 days
Maintenance cost: 600 - 1000 USD$

Executive Summary: The state of St. Vincent and the Grenadines (SVG) is in the Caribbean, 1,600 miles southeast of Miami and 100 miles from Barbados. It has a population of just over 100,000. The economy moved from dependence on sugar to dependence on bananas; but tourism is now the biggest earner, and the government has been trying hard to build a financial services centre. Economic growth was dented by a combination of climatic problems, 9/11 and the need to rein in a free-wheeling financial services sector to placate the OECD and FATF. After a ‘clean up’ of the financial sector began in 2001, the sector now seems to be growing in a stable fashion. Key sectors are banking, trusts, insurance and mutual funds. There are estimated to be around 9,000 International Business Companies. A modernized IBC Act was implemented in 2008. Corporate tax ranges from 10 – 37.5%, but International entities are not subject to taxation.

Suitable for: Banking, Insurance, Fund Management, Yachting
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
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Vehicle Types: IBCs, limited duration companies and trusts

Capital primary business districts: Kingstown

Good Relationships: Bahamas, Barbados, Bermuda, Belize, Canada, Cayman Islands, Cuba, Dominica, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Taiwan, Trinidad and Tobago, Turks and Caicos Islands, United Kingdom, United States

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Moderate

Tax Burden - Individual: Moderate

Headline tax rates: CIT 10%-32.5%, PIT 10%-32.5%, VAT 15%

Treaty Jurisdictions: Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Saint Kitts and Nevis, Saint Lucia, Trinidad and Tobago

TIEA Jurisdictions: Aruba, Australia, Austria, Belgium, Canada, Curacao, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Iceland, Ireland, Liechtenstein, Netherlands, New Zealand, Norway, Sint Marteen, Sweden, United Kingdom

Information Links:

 

 

 

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Important Notice: Wolters Kluwer (BSI) Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

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