DOING BUSINESS IN SAINT VINCENT AND THE GRENADINES IN 2023
Since 2003, Healy Consultants Group assists multi-national Clients’ with business set up in Saint Vincent and the Grenadines (SVG) including i) company registration and ii) regulatory licensing iii) multi-currency corporate bank account opening and iv) annual legal, accounting and tax obligations. Examples of popular SVG entities include:
|Compare different SVG entities||Offshore company||Offshore crypto-currency company||Offshore bank||Resident company|
|Also known as||LLC||Crypto company||Class B bank||Business company|
|Best use of company?||Trading with global Clients||Crypto Trading / FinTech||International banking services||Doing business in the country|
|Can do business within SVG||No||Yes||No||Yes|
|Company incorporation within||1 week||1 week||1 week||1 week|
|How soon can you hire local staff?||Not allowed||3 months||3 months||1 month|
|How long to secure regulatory license from FSA?||Not required||1 month||2 months||1 month|
|Must register with the Government tax authority||No||Yes||Yes||Yes|
|How soon can you invoice Clients/sign sales contracts?||1 week||3 months||3 months||1 month|
|How long to supply corporate bank account numbers?||2 months||3 months||4 months||1 month|
|Corporate tax rate on annual overseas net profits?||0||0||0||0|
|Local physical office premises required||No||No||Yes||No|
|Beneficial owners register maintained||No||No||Yes||No|
|Limited liability entity?||Yes||Yes||Yes||Yes|
|Minimum number of directors||1||1||2||1|
|Minimum number of shareholders||1||1||2||1|
|Resident director required||No||No||Yes||No|
|Must prepare annual audited financial statements||No||Yes||Yes||No|
|Annual economic substance reporting?||No||Yes||Yes||No|
|Resident director/partner/manager/ legal representative required?||No||Yes||Yes||No|
|Minimum paid up share capital?||US$ 1||US$1||US$ 500,000||US$ 1|
|Corporate bank account location?||USA||USA||USA||SVG|
|VAT payable on sales to local customers?||Yes||Yes||No||Yes|
|Average total business set up engagement costs?||US$13,625||US$15,625||Request a proposal||US$ 13,825|
|Average total engagement period?||3 months||4 months||5 months||2 months|
Saint Vincent and the Grenadines business setup summary
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