Obtaining a banking licence in Saint Vincent and the Grenadines

Saint Vincent and the Grenadines

The independent State of Saint Vincent and the Grenadines has created a good economic climate for international financial organizations. The Banks Act of 2004 and Regulations control the opening of international institutions and their operation is monitored by the Financial Services Authority. 

The Authority provides international licenses of two classes for banks:

  • Class A;
  • Class B. 

Each of these licenses has its own features, advantages and disadvantages and provides different opportunities for the owner. 

Saint Vincent and the Grenadines

Features of Class A international permit:

  • Class A financial institution must establish and maintain a minimum paid-up capital of $1 million or equivalent in another currency;
  • class A bank undertakes to maintain a deposit or investment of $500,000 or equivalent in another currency as specified by the Authority;
  • A registered agent must be appointed and notified to the Authority. 


Features of Class B license:

  • The bank of the respective class undertakes to create and maintain a paid-in capital of $500,000 or its equivalent in another currency;
  • Class B financial institution must hold a deposit or make an investment of $100,000 or its equivalent in another currency, as required by the relevant authorities;
  • A registered agent should be appointed and reported to the Office;
Saint Vincent and the Grenadines

A second-class banking authorization allows for offshore banking activities with non-residents or groups that are specified and indicated in the commitment attached to the application. The availability of such a permit allows carrying out banking activities only with the list of users that are presented at the time of application for a license. 


Before issuing a license, the following criteria are checked: 

  • The personal integrity of each shareholder;
  • Shareholders' inability to finance the bank in such a way that it remains liquid;
  • Experience and competence of directors and senior officers;
  • To obtain a bank license, a local director must be appointed, who may also act as a bank manager.


The bank should conduct an annual audit. The bank does not pay taxes or file a tax return, but must pay an annual fee to the regulator to maintain the license.


To learn more about the nuances of obtaining a banking license for St Vincent and the Grenadines, please contact our specialists at IT-OFFSHORE.

Ready-made companies with bank accounts

Or you've already got own business and there is a need to expand the scope of activities. To avoid the loss of time and effort to register juridical individuals, you can arrange a ready-made company. You will have a fully prepared company with a package of documents, which is mandatory for conducting a full-fledged activity.

Companies with licenses

Buying a ready-made company is the best option for operational business development in a new industry, as well as the need to expand the scope of the existing organization increase its scale. Acquisition of a company with mandatory permits and license means the ability to enter a new market in a short period of time.


Acquisition of a ready-made bank allows you to save time, as well as quickly carry out all reissuing operations. On average, the procedure takes about one day. As a result, the client becomes the head of the bank, which already has a client base, as well as status in the market and ready staff. Our company conducts all operations in accordance with existing legislation.


Investment fund is a modern investment tool designed for all types of assets. The purpose — managing of assets as well as solving number of tasks in a way that works best for individuals. There is no open subscription, meaning that a private investment fund has a closed structure. This is the most optimal solution for distributing capital through broad instruments.

SEMI for sale

When conducting business related to foreign exchange transactions, electronic money and cryptocurrencies, it may be necessary to open a financial company with a SEMI license. This type of license covers the production of debit cards and cryptocurrencies, the acceptance and sending of payments, the execution of transfers from third parties, and the opening of merchant accounts.

Crypto Offshore

When working with cryptocurrency it is important to choose the right country, where it is most profitable to open a company. Each country has a different attitude towards this type of currency. A country that has a loyal or positive attitude towards cryptocurrency can be called a crypto-offshore.


Send your request now

and get a personalized offer

To improve your experience on our website, we would like to use cookies. This means that we collect some information about your activity while you are on the website.