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A St. Vincent International Business Company (IBC) is a company which is not subject to taxes and does not regularly transact business with persons resident.
An IBC can be used for numerous purposes, including but not limited to:
provision of professional and consultancy services
establishing holding companies
international trading and investment
ownership of real property and land
ownership of intellectual property
licensing and franchising
the employment of staff working on overseas assignments
offshore e-business
investments
Special features
of St. Vincent International Business Companies (IBC's)
IBC's are permitted to have one director
Directors may be corporate entities or individuals
No requirements for a local director
No reporting requirements
(annual returns or financial statements)
Filing of names of directors and/or shareholders is optional
Filing of By-laws is optional
No minimum or maximum capital requirements
Shares may be voting or non-voting, may be issued with
or without par value, and multiple classes of shares
are permitted
Registered or Bearer shares may be issued
No limitations on where or how meetings may be held
Exemption from taxes
Offshore Companies in St. Vincent are governed by the International Business Companies Act, 1996 and their privacy is protected by the Confidential Relationships Preservation (International Finance) Act, 1996.
The legislation is simple and straightforward, allowing a great deal of flexibility in the design of offshore corporate structures suiting the client's needs. In particular the Act allows the Articles to set out any provisions not expressly prohibited by the Act.
The St. Vincent offshore company may use any of the following names:
"Limited", "Corporation", "Incorporated", "Societe Anonyme", "Sociedad Anonima", "Company", "Limitada", "Societe par actions" or "Aktiengesellschaft" or the abbreviation "Ltd", "Corp", "Inc." "A/S", "AG", "N.V", "B.V.", GmbH", "S.A." or any other words or abbreviations which signify limited liability and which are approved by the Registrar.
The offshore IBC must have at least one Director. If there is more than one shareholder, it must have at least two Directors. Directors may be individuals or may be Corporations. Directors may be of any nationality and may reside anywhere.
The following names may not be used for the offshore company, without a licence or special permission:
"Assurance", "Bank", "Building Society", "Chamber of Commerce", "Chartered", "Co-operative", "Imperial", "Insurance", "Municipal", "Royal", "Trust Company", "Trustee Company", or a word conveying a similar meaning.
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