Saint Lucia


The first proven inhabitants of Saint Lucia were the peaceful Arawaks, believed to have come from northern South America around 200-400 AD. The more aggressive Caribs arrived around 800 AD, and seized control from the Arawaks. Juan de la Cosa was most likely to be the first European to discover the island. He noted it on his maps in 1499. In 1605, an English vessel called the Olive Branch was blown off-course on its way to Guyana, and the 67 colonists started a settlement on Saint Lucia. The French officially claimed the island in 1635 but it was the English who attempted the next European settlement in 1639, but that too was wiped out by the Caribs. In 1643, a French permanent settlement was established on the island. Both the British and the French found the island attractive after the sugar industry developed. Saint Lucia continued to be contested by France and Great Britain until the British secured it in 1814, as part of the Treaty of Paris ending the Napoleonic Wars. Saint Lucia was considered part of the British Windward Islands colony. In the mid-twentieth century, Saint Lucia joined the West Indies Federation (1958–1962) when the colony was dissolved. In 1967, Saint Lucia became one of the six members of the West Indies Associated States, with internal self-government. In 1979 it gained full independence and became a member of British Commonwealth.

Service packages

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Service item Express Standard Optimum
Company registration
Legal address per year
Secretarial services for the first year
Fees and duties for the first year
Apostilled bound set of incorporation documents
Compliance fee
Nominee service per year
Bank Account Pre-approval
Price

2 390 USD

4 145 USD

4 645 USD

I want to order «»

Contact method: and / or

Core Services

2 390 USD

— Incorporation

including incorporation tax, state registry fee, including Compliance fee

included

— Annual government fees

Stamp Duty and Commercial Registry incorporation fee

1 740 USD

— Corporate legal services

including registered address and registered agent, NOT including Compliance fee

190 USD

—Delivery of documents by courier mail

DHL or TNT, at cost of a Courier Service

830 USD

— Apostilled set of Statutory documents

Optional services

1 380 USD

Nominee Director

Paid-up “nominee director” set includes the following documents

375 USD

Nominee Shareholder

Paid-up “nominee shareholder” set includes the following documents

Related services

355 USD

Tax ID Certificate

355 USD

Certificate of Good Standing

Document issued by a state agency in some countries (Registrar of companies) to confirm a current status of a body corporate. A company with such certificate is proved to be active and operating.

355 USD

Certificate of Incumbency

Compliance fee

Compliance fee is payable in the cases of: renewal of a company, liquidation of a company, transfer out of a company, issue of a power of attorney to a new attorney, change of director / shareholder / BO (except the change to a nominee director / shareholder)

150 USD

Basic

simple company structure with only 1 physical person

50 USD

For legal entity in structure under GSL administration

additional compliance fee for legal entity in structure under GSL administration (per 1 entity)

100 USD

For legal entity in structure not under GSL administration

additional compliance fee for legal entity in structure NOT under GSL administration (per 1 entity)

250 USD

For client with high risk Status

Cost of incorporation, including first year servicing 2390
Cost of nominee director services per year, including an apostilled set of documents 1380
Cost of nominee shareholder services per year, including an apostilled set of documents 375
Cost of annual service, starting from the second year 1740
Open account in 28693
Incorporation timescale for a turnkey company 2 days
Country 26730

General information shortly

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Total area Population Capital Unemployment Corruption perceptions index rank
617 sq. km 162.781 (2013) Castries 22% 22
Location Eastern Caribbean Sea
National currency East Caribbean dollar
Conditional reduction of currency XCD
Against USD 2.7
Climate, average max and min t° tropical, moderated by northeast trade winds; dry season is from January to April, rainy season is from May to August; average annual temperature is 26°С; the hottest season is from June to Auguast when the average temperature is 32°С
Time difference from Moscow - 8 hours
Dialing code +1-758
State language English
Ethnic groups black 82.5%, mixed 11.9%, East Indian 2.4%, other or unspecified 3.1%
Literacy rate 90.1%
Credit rating BBB
Government type Parliamentary democracy
Executive branch Prime minister and his cabinet
Legislative branch bicameral Parliament: Senate (11 members) and House of Assembly (17 members)
Judicial branch High court and district courts
GDP per capita rank 73 (2013)

Corporate info

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Shelf companies permitted Legal system Incorporation timescale for a turnkey company Cyrillic alphabet permitted in company name Local registered office
Yes based on English common law 2 days Yes Yes
Types of entity Sole trader; Partnership; Private limited company; Branch, as well as IBC; International partnership; International mutual fund; International trust
Incorporation timescale for a new company 1 day
Company suffix Limited, Ltd, Inc., or their foreign language equivalents
Sensitive words “Assurance”, “Bank”, “Building Society”, “Chamber of Commerce”, “Chartered”, “Cooperative”, “Imperial”, “Insurance”, “Municipal”, “Royal”; words that suggest patronage or connection with government; indecent, offensive or objectionable words
Local registered agent Yes
Information to be kept at the registered office register of shares, register of directors, minutes of all meetings, copies of resolutions
Seal required, type of seal not required
Redomiciliation (to, from) permitted permitted

Director and secretary

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Minimum number of directors Residency requirements for directors Corporate directors permitted Disclosure to local agent Disclosure to public
1 No Yes Yes No
Directors’ meetings/frequency/location No requirements
Company secretary required No
Residency requirements for a secretary No
Qualified secretary required No
Corporate secretary permitted No

Shareholder and beneficiary

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Minimum number of shareholders Residency requirements for shareholders Corporate shareholder permitted Disclosure to local agent Disclosure to public
1 No Yes Yes No
Meetings/frequency/location No requirements
Beneficiary info disclosure to No

Shares and share capital

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Minimum authorized share capital Minimum issued share capital Minimum paid share capital Authorized capital payment deadlines Bearer shares permitted
1 share 1 share No requirements No requirements No
Issued capital payment deadlines No requirements
Standard currency US dollar
Standard authorized share capital 100
Standard par value of shares 1
Shares with no par value permitted Yes

Taxes

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Min. rate for corporate tax Capital gains tax VAT Withholding tax Exchange control
30% No 12,5% 0%/15%/25% No
Personal tax 10-30%
Corporate tax (in detail) The income tax rate is 30% (for companies with tax arrears - 33.3%).
Capital gains tax. Details Gains from the sale of assets are not taxed, unless they are profits from ordinary commercial activities, in which case the profits are included in the income tax base.
VAT. Details The standard VAT rate is 12.5%. A preferential rate of 7% applies to the hospitality industry.
Other taxes Social contributions, Real estate tax
Stamp duty 2-10%

Accounts

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Requirement to file accounts Publicly accessible accounts Audit required Requirement to file Annual Return Publicly accessible Annual Return
No No No No No
Requirement to prepare accounts No
Double tax treaties network 11
Tax Exchange Information Agreement network 17
OECD member No
Offshore/onshore status according to the RF laws Yes

GENERAL INFORMATION

General info

Saint Lucia is a sovereign island country in the eastern Caribbean Sea on the boundary with the Atlantic Ocean.
Total area of the country is 617 sq. km. The population is 162,781 people (2013). Among ethnic groups are black (82.5%), mixed (11.9%), East Indian (2.4%), other or unspecified (3.1%).
The capital is Castries.
The official language is English.
The currency is East Caribbean Dollar (XCD). 1 USD is equal to 2.7 XCD.
Climate of Saint Lucia is tropical, moderated by northeast trade winds; dry season is from January to April, rainy season is from May to August; average annual temperature is 26°С; the hottest season is from June to August when the average temperature is 32°С.
Time difference with Moscow is -8 hours.
Literacy rate is 90.1%.
Calling code is +1-758.

History

The first proven inhabitants of Saint Lucia were the peaceful Arawaks, believed to have come from northern South America around 200-400 AD. The more aggressive Caribs arrived around 800 AD, and seized control from the Arawaks. Juan de la Cosa was most likely to be the first European to discover the island. He noted it on his maps in 1499. In 1605, an English vessel called the Olive Branch was blown off-course on its way to Guyana, and the 67 colonists started a settlement on Saint Lucia. The French officially claimed the island in 1635 but it was the English who attempted the next European settlement in 1639, but that too was wiped out by the Caribs. In 1643, a French permanent settlement was established on the island. Both the British and the French found the island attractive after the sugar industry developed. Saint Lucia continued to be contested by France and Great Britain until the British secured it in 1814, as part of the Treaty of Paris ending the Napoleonic Wars. Saint Lucia was considered part of the British Windward Islands colony. In the mid-twentieth century, Saint Lucia joined the West Indies Federation (1958–1962) when the colony was dissolved. In 1967, Saint Lucia became one of the six members of the West Indies Associated States, with internal self-government. In 1979 it gained full independence and became a member of British Commonwealth.

Government Type

Saint Lucia is a Commonwealth realm, a parliamentary democracy.
The head of state is Queen Elizabeth II, represented on the island by a Governor-General. Under Constitution he can be any national of Commonwealth appointed by the monarch. In practice this post is occupied by a local on the advice of the head of the government. Governor-General orders to form the government and approves its members after approval by the Parliament, appoints members of Senate, dissolves Parliament under recommendation of the Prime-minister, appoints new election, signs laws and approves appointment of high state officials.
Executive power is in the hands of the Prime Minister and his cabinet. The prime minister is normally the head of the party commanding the support of the majority of the members of the House of Assembly.
Legislative power is formed by the bicameral Parliament which comprises two chambers. The House of Assembly has 17 members, elected by universal adult suffrage for a five-year term in single-seat constituencies. The Senate has 11 members appointed by the governor general. The parliament may be dissolved by the governor general at any point during its 5-year term, either at the request of the prime minister—in order to take the nation into early elections—or at the governor general's own discretion, if the house passes a vote of no-confidence in the government.
Judiciary branch comprises district courts and a high court. Cases may be appealed to the Eastern Caribbean Court of Appeals and, ultimately, to the Judicial Committee of the Privy Council in London.

Economy

St. Lucia's economy depends primarily on revenue from tourism and offshore business. In 2008 GDP was 1.8 milliard dollars or 11.1 thousand per capita. GDP's breakdown is as follows: agriculture – 5%, industry – 15%, service – 80%. Growth of GDP in 2008 declined 1.7%.
Inflation rate in 2007 was 1.9%, unemployment rate in 2013 – 22%. Employment structure: agriculture – 22%, industry and trade – 25%, service – 54%.
Traditional economic sectors are tourist servicing and agriculture. The main culture is bananas, as well as coconuts, mango, cacao, citrus cultures, grapes, sugar cane.
Abolishment by the EU of favored treatment and growing competition from the manufactures of bananas in the Latin America stimulated diversification of economy. The country started attracting foreign investment, especially in offshore banking and tourism. Industrial sector is the most developed among the countries in the Eastern Caribbean region.

CORPORATE INFORMATION

Legal system

Legal system of Saint Lucia is unique among the countries of British West Indies and similar to the mixed legal system of Canadian Quebec. While most branches of law are based on English common law, civil law and civil process follow French law traditions. The reason of such a state is a significant historical contribution of France into the island colonization.

Types of entity

The principal forms of business organization in Saint Lucia are:
  • Sole trader;
  • Partnership;
  • Private limited company;
  • Branch.

For offshore solution foreigners can incorporate the following forms:
  • IBC;
  • International partnership;
  • International mutual fund;
  • International trust.

The most common structure is IBC (private limited company).

REGISTRATION

Company name

There is a range of requirements to the company name in Saint Lucia:
  1. The word “Limited” “Corporation”, “Incorporated”, “Societe Anonyme”, or “Sociedad Anonima” or the abbreviation “Ltd”, “Corp”, “Inc.” or “S.A.”, or the equivalent term in any language must be part of the name of an international business company.
  2. A company name should not be identical with that under which a company in existence is already incorporated under IBC Act or registered under the Companies Act or so nearly resembles the name as to be calculated to deceive, except where the company in existence gives its consent.
  3. A company name should not contain the words “Assurance”, “Bank”, “Building Society”, “Chamber of Commerce”, “Chartered”, “Cooperative”, “Imperial”, “Insurance”, “Municipal”, “Royal” or a word conveying a similar meaning; or other word that, in the opinion of the Registrar, suggests or is calculated to suggest (i) the patronage of Her Majesty or that of a member of the Royal family, (ii) a connection with Her Majesty’s Government or a department thereof, or (iii) a connection with a municipality or other local authority or with a society or body incorporated by Royal Charter, except with the approval or, in the approval in writing, of the Registrar.
  4. A company name should not be indecent, offensive or, in the opinion of the Registrar, objectionable.

Registration

The following steps are required to incorporate an IBC in Saint Lucia:
  1. Lawyer conducts name search and prepares incorporation documents – 2 days: a) Attorney conducts name search and waits for approval, as approval is not guaranteed. b) If the name is approved by Commercial Registry it is only then the incorporation documents are prepared. The incorporation documents include:
i. The articles of incorporation. ii. The notice of directors.
iii. The notice of the company’s registered office.By-Laws are not mandatory but are highly recommended. However, they are not filed together with the incorporation documents. They are filed subsequent to incorporation and attract a separate filing fee.
  2. Registration with the Commercial Registry – 6 days : When registering the company with the Commercial Registry, the promoters pay an administrative fee (850 XCD) when presenting the documents for registration. The Registry issues a certification of incorporation once the registration process is finalized.
  3. Make company seal – 7 days : A company can obtain a rubber-stamp seal locally in 7 days; the cost is XCD 75. If a more formal embossed seal is required, it can be obtained from overseas in 14 days; the cost is about XCD 290.
  4. Obtain tax payer identification number – 1 day (simultaneous with previous procedure) : The competent authority is the Inland Revenue Department.
  5. Register as employer with social security institute – 1 day (simultaneous with previous procedure) : The competent authority is the National Insurance Corporation.

Local registered office and registered agent

An international business comapny shall at all times have a registered agent and a registered office in Saint Lucia. The following documents should be kept at the registered office: register of shares, register of directors, minutes of all meetings, copies of resolutions.
The registered agent of an international business company shall be licensed under the Registered Agent and Trustee Licensing Act and shall be the registered office of the international business company.
The Registrar shall not accept the resignation of the registered agent of an international business company until such time as another registered agent is appointed to replace the first registered agent.
An international business company may, by a resolution of directors, amend its memorandum or articles to change the place of its registered office and to change its registered agent. A change of registered agent and registered office shall be effective upon the proper filing with the Registrar of an amendment to the international business company’s memorandum or articles.

Seal

There are no compulsory requirements for seal. A company can obtain a rubber-stamp seal locally in 7 days; the cost is XCD 75. If a more formal embossed seal is required, it can be obtained from overseas in 14 days; the cost is about XCD 290.

Trade license

All foreign individuals and companies, intending to conduct business in St Lucia, and own more than 49% of the company’s shares, are required to have a Trade License. The Ministry of Commerce, Industry and Consumer Affairs issues Trade Licenses.
The procedure for obtaining a Trade License is as follows:
  • Three copies of the Trade License Application Form can be obtained from the Ministry of Commerce, Industry and Consumer Affairs or Invest St. Lucia.
  • The application form must be completed and returned to the Ministry or Invest St. Lucia.
  • The application is considered by the Trade License Advisory Board. The Board makes recommendations to the Minister, who then grants the final approval.
  • The Application takes approximately 6-8 weeks (from the date submitted) to process.

The license is issued annually and expires on 31 December of the year in which it is granted.

Work Permits

Under the Foreign National and Commonwealth Citizens (Employment) Regulation, all non-nationals wanting to conduct a business or be gainfully employed in St. Lucia must apply for a work permit. Applications can be obtained from the Labour Department of the Ministry of Legal Affairs, Home Affairs and Labour.
To obtain a work permit in Saint Lucia, you have tos:
  1. Collect a completed ‘A’ Form from the Work Permit Officer at the Department of Labour. Pay a non-refundable fee of (EC $100.00) to the Accountant General at the Government Treasury located in Castries.
  2. Submit the Work Permit application form: сomplete the Work Permit application form and ensure that the following documents are attached before it is submitted to the Work Permit Officer: a Police record from the country where the applicant last resided; certified documentary proof of qualifications; trade licence (for foreign companies applying on behalf of foreign employees); copies of advertisements for the posts; evidence that income tax has been paid; two (2) passport size photograph; letter From Employer (Former or Current). Take the Treasury receipt back to the Work Permit Officer at the Department of Labour who will then provide you with a Work Permit application.

This procedure is repeated every year until the applicant becomes a citizen of St. Lucia. A person that has gained resident status is NOT EXEMPT from a Work Permit and is required to apply according to the above procedures.
All applications should be submitted to the Work Permit Officer at least two (2) months prior to the date which you propose or plan to be employed or engaged.
While the application is in process, the applicant should NOT engage in any kind of employment.

Restriction of activities

There are a number of restrictions on the activities of international business companies. An IBC shall not:
  • carry on business with persons resident in Saint Lucia;
  • own an interest in immovable property situated in Saint Lucia, other than a lease;
  • carry on international banking business unless it is licensed to do so under the law in force in Saint Lucia relating to international financial services;
  • carry on a banking business with a resident whether alone or in conjunction with any other activity, unless it is licensed to do so under the Banking Act;
  • carry on an international insurance business unless it is licensed to do so under the law in force in Saint Lucia relating to international financial services;
  • carry on a shipping business with a resident whether alone or in conjunction with any other activity, unless it has complied with an enactment relating to the carrying on of shipping business;
  • carry on the business of international financial services representation;
  • carry on international mutual funds business unless it is licensed to do so under the law in force in Saint Lucia relating to international financial services; or
  • carry on business in a manner detrimental to the public interest.

An international business company that willfully contravenes the above restrictions is liable to be struck off the Register and to a penalty of $100 for each day or part thereof during which the contravention continues, and a director who knowingly permits the contravention is liable to a like penalty.

Redomicile

The redomiciliation of companies to or from Saint Lucia is permitted.
A company incorporated under the laws of a jurisdiction outside Saint Lucia may, continue as an international business company if:
  • articles of continuation, (written in the English language or if written in a language other than the English language, accompanied by a certified translation), is approved by a majority of the directors or the other persons who are charged with exercising the powers of the company;
  • the articles of continuation contains: the name of the company and the name under which it is being continued, the jurisdiction under which it is incorporated, the date on which it was incorporated, etc.;
  • the articles of continuation, accompanied by a copy of the memorandum and articles of the company, or their equivalent, written in the English language or if written in a language other than the English language, accompanied by a certified translation, and in the case of a foreign company, evidence satisfactory to the Registrar that the company is in good standing, is submitted to the Registrar; and
  • the Registrar, if satisfied that the company meets the requirements of an international business company registers the company as an international business company by registering the articles, memorandum and articles of continuation in the register.

An international business company incorporated under the laws of a jurisdiction outside Saint Lucia is entitled to continue as an international business company, despite any provision to the contrary in the laws of the jurisdiction under which it is incorporated.
A certificate of continuation issued by the Registrar is prima facie evidence of compliance with all requirements of this Act in respect of continuation.
Subject to any limitations in its memorandum or articles, a company incorporated or continued as a company under this Act may, by a resolution of directors or by a resolution of members, continue as a company incorporated under the laws of a jurisdiction outside Saint Lucia in the manner provided under those laws.

COMPANY STRUCTURE

Directors

Every IBC in Saint Lucia must have a Board of Directors consisting of one and more directors who can be natural persons or companies, residents and non-residents.
An international business company shall keep at its registered office at all times, a register to be known as the directors register containing the names and addresses of persons who are directors of the international business company; the date on which each person was appointed as a director; and the date on which any person ceased to be a director. An international business company may delete from its director’s register information relating to persons who are no longer directors.
Subject to any limitations in the memorandum or articles, the directors of an international business company may meet at such times and in such manner and places within or outside Saint Lucia, as the directors may determine to be necessary or desirable. A director shall be deemed to be present at a meeting of directors if he or she participates by telephone or other electronic means; and all directors participating in the meeting are able to hear each other.
Directors’ information is only disclosed to local agent and is not publicly accessible.

Secretary

IBCs in Santa Lucia are not required to appoint a company secretary.

Shareholders

Each company in Saint Lucia must have at least one shareholder who can be a natural person or a company, residents and non-resident.
Annual general meetings are not required. Shareholders’ meetings can be held any time at any place within or outside Saint Lucia. A shareholder shall be deemed to be present at the meeting if he or she participates by telephone or other electronic means; and all shareholders participating in the meeting are able to hear each other.
Shareholders’ information is only disclosed to local agent and is not publicly accessible.

Beneficiary

Despite the fact that many jurisdictions are discussing an issue of introducing an open register of beneficiaries, there is no such a register yet, including Ireland. This means that beneficiaries’ details do not appear on a public profile. Generally, service providers including firm specializing in company formation, trust managers, lawyers, and accountants, keep beneficiaries’ information in strict confidentiality. It can only be disclosed to regulatory authorities (e.g. during examinations for its existence) or in compliance with a court order.

Share capital and shares

There is no fixed minimum authorized capital requirement nor is there a maximum limit on the amount of authorized capital. Standard amount of authorized capital is 100 US dollars. Capital may be nominated in any currency.
The minimum issued capital may be one share of no par value or one share of par value. Standard par value of share is 1 dollar. Issued shares must be fully paid.
Bearer shares are not permitted.
A share register is to be kept at the registered office. A share register should contain the following information:
  • the names and addresses of the persons who hold registered shares in the international business company;
  • the number of each class and series of registered shares held by each person;
  • the date on which the name of each person was entered in the share register;
  • the date on which any person ceased to be a member.

An international business company may delete from its share register information relating to persons who are no longer members.

TAXATION

Personal taxes

Domiciled tax residents pay income tax on their worldwide income, non-domiciled tax residents – on income sourced in Saint Lucia and on income sourced abroad but remitted to Saint Lucia, and non-residents – on income sourced in Saint Lucia.
Income tax is levied at progressive rates:
  • Income up to XCD (East Caribbean Dollar) 10,000 – 10%
  • XCD 10,000 to 20,000 – 15%
  • XCD 20,000 to 30,000 – 20%
  • Over XCD 30,000 – 30%.

Capital gains are tax exempt. Dividends from corporations and interest from banks are not taxed in Saint Lucia.

Corporate income tax

Since 2019, Saint Lucia has applied the territorial principle of taxation. Resident companies pay tax on income generated in Saint Lucia and non-resident companies on income sourced in Saint Lucia. The transitional period for IBCs (International Business Companies) incorporated before 2019 that have opted to pay 1% tax, expires on 30 June 2021 / in 2022.
The income tax rate is 30% (for companies with tax arrears – 33.3%).
Dividends are tax exempt.
Gains from the sale of assets are tax free, unless they are profits from ordinary business, in which case the profits are included in the corporate income tax base.

CFC rules

None.

Withholding tax

Dividends are exempt from tax.
Royalties and a number of other types of income are subject to 25% withholding tax.
Interest is subject to withholding tax at the rate of 15%.

VAT

The standard VAT rate is 12.5%.
A reduced rate of 7% applies in the hospitality industry.

Social security contributions

Social security contributions are paid on employment remuneration at the rate of 5% by employers and at the rate of 5% by employees.
The maximum monthly earnings on which contribution is charged is XCD 5,000.

Property tax

Property tax is payable on residential property at the rate of 0.25% of the property’s market value and on commercial property at the rate of 0.4%.

Stamp duty

Stamp duty is levied on various transactions and documents. It is either a fixed amount or a percentage of the transaction value. For example, buyers of real estate pay stamp duty at the rate of 2%, and sellers at the rate from 2.5% to 10%, depending on the transaction value and whether the seller is a resident.

Double Tax Agreements

Saint Lucia signed a whole bunch of double tax agreements and tax information exchange agreements:
  • 11 DTCs: Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Vincent and the Grenadines, Switzerland, Trinidad and Tobago;
  • 17 TIEAs: Aruba, Australia, Belgium, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Iceland, Ireland, Netherlands, Netherlands Antilles, Norway, Portugal, Sweden, United Kingdom.

Exchange control

Foreign exchange transactions can generally be made without restrictions.

ACCOUNTS

Accounting records

According to IBC Act, an international business company may keep such books, records, and financial statements as directors think fit. Besides, accounting records should reflect the financial position of a company.

Financial statements

There is no requirement for preparing and filing of the financial statements for IBC.

Audit

An IBC is only required to have an annual audit if it elects to pay tax or if it is an International Bank, International Insurance Company or Mutual Fund.

Annual Return

Generally speaking, Annual Return is a short review on the current state of the company, which is prepared by the company secretary annually. As a rule it includes the following information:
  • Incorporation information (registration date, registered address);
  • Information about directors and their resignation;
  • Information about secretaries and their resignation;
  • Information about registered capital, nominal value of shares and amount of issued shares;
  • Information about shareholders and share transfer.

IBC is not required to file Annual return.

Tax returns

Tax returns

The tax year is 12 months long.
The corporate income tax return must be filed and tax must be paid within 3 months of the year-end.
Tax is due in three instalments during the year.

International law relations

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Party to the Hague Convention (Apostille) Legal system Double tax treaties network OECD member Offshore/onshore status according to the RF laws
Yes based on English common law 11 No Yes

Public authorities and legal acts

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List of laws and regulations
Act name Scope of law
IBC Act IBC
IBC Regulations IBC
International Partnership Act international partnership
International Mutual Funds Act international mutual funds
International Trusts Act international trusts
International Banks Act international banks
Registered Agent and Trustee Licensing Act registered agent and trustee licensing
Value Added Tax Act VAT
VAT Regulations VAT
Tax treaties entered Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Vincent and the Grenadines, Switzerland, Trinidad and Tobago
Tax Exchange Information Agreement (TEIA) Aruba, Australia, Belgium, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Iceland, Ireland, Netherlands, Netherlands Antilles, Norway, Portugal, Sweden, United Kingdom
List of state regulatory authorities
Government of St. Lucia http://www.govt.lc/
Ministry of Commerce, Business Development, Investment and Consumer Affairs http://www.commerce.gov.lc/
Inland Revenue Department http://irdstlucia.gov.lc/
St. Lucia VAT Office http://www.vat.gov.lc/
Invest St. Lucia http://www.investstlucia.com/
St. Lucia International Financial Center http://www.saintluciaifc.com/
National Insurance Corporation http://www.stlucianis.org/
St. Lucia Customs and Excise Department https://customs.gov.lc/
Bank of St. Lucia https://www.bankofsaintlucia.com/
Harmony Suites Hotel http://www.harmonysuites.com/

    Legal Partner of Review:

    ADCO Inc.

    ADCO Inc, was formed in 1999 and has been at the forefront of St. Lucia's offshore financial services industry ever since. Through ADCO itself and its affiliates ADCO fund Administrators Inc and ADCO Captive Management Ltd. we provide a complete line of services including establishing IBCs, forming Trusts and providing Trustee services, Mutual Fund formation and administration ( both private and public funds), Captive Insurance formation and management and the establishment of International Banks, both Restricted and Unrestricted. Through our affiliated firms Gordon, Gordon & Co and E. Hermiston Chartered Accountants we provide a full range of legal, audit, tax and advisory services.

    Saint Lucia Company Formation

    Harmony Suites

    Harmony Suites located in the center of Rodney Bay, was built by a local St. Lucian family after emigrating from the United Kingdom and is still managed by the same family. Right here on property you will find everything you need, from a local dive shop, to a popular yoga and pilates studio and even a car rental agency. There is free WiFi throughout the hotel so that you have everything you need to stay connected while in paradise.

    Saint Lucia Hotel

    Consultants

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    Regards, If you are ALREADY a GSL customer YOUR CONSULTANT

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    Aniko Sebok

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    Regards, GSL Law & Consulting Lawyer, Head of UK GSL office Aniko Sebok

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    Valerija Filipova

    GSL Law & Consulting Lawyer, London Office

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