If you want to incorporate in Saint Vincent and the Grenadines, this article will educate you on the tax laws for an IBC which is the most common legal entity in Saint Vincent and the Grenadines.
An International Business Company in St. Vincent & The Grenadines is entitled to do business outside the country. It may have restrictions to trade and own local real estate within the territory and perform financial services activities. IBCs may elect to be tax exempted for 25 years, or taxed at 1% on its profits earned abroad to benefit of Caricom tax treaty. This ranks Saint Vincent and the Grenadines as 1st when compared to corp. taxation rate internationally. An IBC is subject to an annual fee between US$ 300 and US$ 1,000, depending on its capital.
IBCs are commonly used for international trade and investment, asset protection, intellectual property, licensing and franchising ownership, operating online business and holding companies and bank accounts.
An IBC may be formed by one or more shareholders, who may be natural or legal persons. There is no minimum capital requirement. Bearer shares and no par value shares are allowed.
It may be required to keep register of charges, but may have no requirement to file annual reports or accounts, except if it is benefitting from the Caricom treaty. Beneficiaries, shareholders and directors may elect not to be public disclosed. Migration of domicile is permitted.
Dividends paid or received by an IBC are tax exempted. A dividend is a distribution of a portion of a company's earnings, established by the board of directors, to a particular class of shareholders. Dividends can be one of the following cash payments, shares of stock, or other property. Capital Gains are not subject to taxation. A capital gains tax is levied on the profits that a corporation or natural person realizes when he or she sells sells a capital asset for a price that is higher than the purchase price.
IBCs are not subject to withholding taxes. This means that any kind of payments, such as dividends, interests, royalties and fees to non-residents are not taxable.
The value added tax (VAT) rate in VC is 15%, that ranks Saint Vincent and the Grenadines as 78th when compared to VAT globally.
The above is not tax or legal advice for your individual circumstances. We are able to to refer you to a tax advisorin Saint Vincent and the Grenadines who can answer all your questions. Contact us today. Click the free consultation button above.
It takes approximately - hours to file and prepare documents for a Saint Vincent and the Grenadines Common law.
The corporate tax is approximately 0% which is 1 in the world.
Owners of a company in Saint Vincent and the Grenadines are not allowed to carry back a loss .
The vat rate in Saint Vincent and the Grenadines is 15% which ranks 78 in the world.
The underlying legal code in Saint Vincent and the Grenadines is common law law. Common law makes for a easy corporate setup. One is permitted to electronically sign documents.
The country code VC is for Saint Vincent and the Grenadines and the most common legal entity structure in Saint Vincent and the Grenadines is an IBC.
The amount you'll have to wait is about 2 Days to incorporate an IBC in VC. The min share capitalization is 0, This means you don't have any minimum share capital. The types of cash you can use to setup your business is frequently any legal currency.
Yes, one is allowed to re-domicile an IBC from VC. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own an IBC in VC by yourself. Corporate Shareholders are allowed, meaning you could have a company as a shareholder. Foreign ownership is permitted, up to 100% of the ownership of the legal entity.
A company is only required to have 1 director on the board. Additionally, corporate directors are permitted. Directors can have some expectation of privacy, as they are not disclosed publicly. There is a body of law which requires companies to hold an annual meetings of shareholders.
A registered agent is normally required, which means the company will have to pay a fee on a yearly basis, for an office which can receive litigation or other legal process on behalf of the registered legal entity. Moreover, a company secretary is not a requirement.
There is a However, there is no requirement that these accounts be audited.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are not disclosed in the public registry of Saint Vincent and the Grenadines, Financial Services Authority. Shareholders are not disclosed in the Financial Services Authority.
Typically companies take 2 days to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Saint Vincent and the Grenadines is a good option and have given it a score of 82 as an IO score, using the Incorporations.IO proprietary formula.
We can help you form a company in Saint Vincent and the Grenadines. Click the button above for a no-obligation quote. We will provide you with all the necessary documents to open a bank account as well as a registered office in Saint Vincent and the Grenadines, which is required by law.
