An offshore company remains a good business instrument if it is established for a suitable goal, and the list of jurisdictions where you can set it up is quite long. The standard advantages include a straightforward company registration procedure, low taxes and company maintenance costs, reduced amount of paperwork, high confidentiality, reliable asset protection, and much more.
The only drawback is that you will have to carefully choose the bank as some of them are not willing to work with offshore companies. Nevertheless, there are plenty of those who will open a corporate account for you – and if you want to get the services of a European bank, there is a way out, too! Simply get in touch with us to obtain advice.
If you need more information, do not hesitate to visit our portal where you will find a lot of articles on offshore companies formation, including the peculiarities of establishing an offshore company in SVG. We write about international business, banking, asset protection, investment, tax optimization, citizenship by investment, and more.
You can schedule a free session with our specialist to discuss your plans and get assistance. And if you are looking for reliable professionals to delegate all the administrative matters to, you have found them: we will set up a company for you at a reasonable fee!
How to Use Your Company in St. Vincent and the Grenadines
Here are a few purposes for which you can set up a company in St. Vincent and the Grenadines:
- An asset protection instrument that uses all the advantages of the zero-tax jurisdiction
- An international investment company
- An online business management company
- A holding company that owns and protects licenses, franchises, intellectual property rights, etc.
- An international trading company
- A business management company
SVG Offshore Company: Benefits
- The company maintenance costs will be affordable.
- SVG has certain laws in place that protect sensitive/personal information.
- The jurisdiction offers really good asset protection.
Compliance with EU Requirements
Here are several changes introduced into the local laws by SVG authorities to adhere to EU requirements:
- Large-scale companies are required to file annual reports.
- Local residents now have the right to set up a business company.
- The income tax equals 30%.
- An offshore company established in the country is now called a business company (BC) rather than an International Business Company (IBC).
These changes put St. Vincent on the EU white list after having been a blacklisted jurisdiction for some years.
SVG Offshore Company: Characteristics
The company’s minimum registered capital is not set, so you can start with 1 dollar if you want to. The usual currency is US dollars, but you can use any other one – or even several currencies! You can issue all kinds of shares except for bearer shares which are not allowed anymore.
A company can be registered in St. Vincent and the Grenadines by a resident of any country, with both individuals and legal entities being its founders. Only one owner is allowed.
If the company has one owner, only one director is allowed (it can be a resident of any country or a legal entity registered anywhere in the world).
The data on company beneficial owners and directors remains confidential under the local laws and is not publicly disclosed.
The meetings of shareholders can be arranged anywhere across the globe. As for the corporate documents, you can keep them both inside and outside the country as well.
Financial reports are only submitted by companies whose annual turnover exceeds 4 million dollars, while smaller companies are not required to file any reporting. However, we recommend keeping proper records at all times to prove the legal origin of funds as they will be required by banks or payment systems where you decide to open a corporate account.
An SVG offshore company must have a local registered agent and a registered legal address in the country.
Your company can have a name in any language, but you will need its sworn translation into English. In the same way, you can keep your accounting records in any language, but they will need to be translated by certified experts before filing.
You can merge your SVG offshore company with a foreign subsidiary, company, and so on.
Company Registration: Documents
You will only need two documents to register a company:
- A legalized passport copy of the potential owner’s passport
- A proof of his/her residence address
If the documents are in other language than English, you will need to have them translated and notarized. These two documents are provided by each person who forms an offshore company.
Company Registration Cost
The standard service package costs 3,000 euros, and it includes:
- Company registration procedure
- One-year rent of company legal address
- Payment of state duties
- Company maintenance expenses for 1 year
- Courier delivery of documents to any country
- A package of apostilled/notarized company documents
- Local registered agent’s services for 1 year
You may need additional services or additional documents, and you can see the details by following the above link to our portal.
Company Registration Procedure
- Get in touch with our expert using the above link to request the service.
- Discuss your business goals with our expert to make sure you have made the right choice and we can help you in your case.
- Pay the cost of our services using any method convenient to you (from bank transfer or Western Union to PayPal or Bitcoin).
- Collect the documents in accordance with our recommendations and send them to us.
- As soon as we have received the payment and documents, we will start the procedure of remote offshore company registration.
- Upon completion of the company registration, we will send you the originals of the corporate documents, and you will be able to start your business operations right away.
Interested in company incorporation in St. Vincent and the Grenadines? Even if you have any doubts, do not hesitate to contact us, and we will discuss how grounded they are. See you on our portal!
