Saint Vincent and the Grenadines (SVG) is an independent island nation in the Caribbean. The country has established itself as a classic offshore jurisdiction with a loyal taxation system, complete confidentiality, and minimal interference from government agencies in business.

Who is offshore in SVG suitable for?

Registering an offshore company in SVG is an ideal option for startups, as the financial costs for its registration and maintenance are minimal.

Among the undeniable advantages of the jurisdiction are:

• offshore companies are tax-exempt;
• inexpensive and fast registration;
• the ability to use nominee service;
• inexpensive marketing and advertising campaigns;
• a high level of confidentiality - closed register of shareholders and directors;
• absence of currency control, which optimizes international financial transactions.

An offshore company registered in Saint Vincent and the Grenadines can engage in any type of business not prohibited by law. The only exceptions are some types of activities that require a special license.

Taxation and reporting in SVG

Financial reporting is not required, except for companies engaged in financial services or the gambling business.

The jurisdiction has no corporate income tax, personal income tax, sales tax, or VAT for classic offshore business companies.

Offshore companies are exempt from all types of import duties and taxes on the transfer of capital or property.

The only obligation of an offshore in SVG is to pay a fixed annual fee, while the amount of such a fee is not burdensome.

Company registration in SVG

The most common forms of companies are a limited liability company (LLC) and an international business company (BC). The main condition is that these offshore companies cannot operate in SVG.

After determining the type of company, it is necessary to register it in accordance with the requirements of the jurisdiction's legislation, providing the regulator with the necessary documents and paying the registration fees.

You can learn more about the conditions for registering an offshore in Saint Vincent and the Grenadines from the experts at IT-OFFSHORE.