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Taxation: No business can occur with residents of the island. St. Vincent LLCs are tax exempt companies in terms of corporate tax, capital gains or withholding tax in the first 25 years from their establishment.
Limited Liability: LLC members’ liability is limited to their contributions to the company’s capital.
Privacy: LLCs is are not required to file details of Members (shareholders) or Managers (directors) on any publicly accessible register.
Minimum Member: One. A director can be a natural person or a corporation. Corporate directors can reside in and be citizens from any country. There is no requirement for local directors.
Minimum Manager: One. Shareholders can be 100% foreigners.
Minimum Capital: There is no minimum amount for an authorized capital.
Authorized Capital: There is no minimum required authorized capital.
Company Name: A St. Vincent LLC must choose a company name which does not resemble any other legal entity’s name. The government provides a name search pre-application service with name reservation for applicant’s convenience.
The name of a LLC must end with either the word “Incorporated”, “Limited”, “Corporation”, or with one of the following abbreviations “Inc.”, “Ltd”, or “Corp”.
Registered Office and Agent: An LLC is required to maintain a local office address provided by a local agent as its registered address.
Members: While shares can be issued, participants are legally considered as members rather than shareholders. The LLC members and managers’ interests and rights in the company are governed by the Operating Agreement. Members can reside anywhere in the world.
A St. Vincent LLC can issue registered shares, bearer shares, and shares with or without voting rights. The LLC is allowed to own shares in other corporations and can receive royalties and dividends tax free.
Managers and Officers: Only one manager is required who can be a natural person or a corporation. The sole member can also be the sole manager. Managers can reside anywhere in the world. There are no directors for a LLC.
There is no requirement to appoint any officers.
Accounting and Audits: LLC’s are not required to maintain any accounting standards nor perform any audits. There are no procedures for government approval of accounting records. Financial statements are not required to be filed with the government. The public is not allowed access to LLC financial and accounting records.
Annual General Meeting: While annual general meetings are required, they can be held in any country.
Time for Registration: A LLC can expect to be registered within two business days.
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