Saint Vincent and the Grenadines

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

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Saint Vincent and the Grenadines

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