DOING BUSINESS IN SAINT VINCENT AND THE GRENADINES IN 2024
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 |
| Regulated by? | FSA | FSA | FSA | FSA |
| 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 | Request a proposal |
| Average total engagement period? | 3 months | 4 months | 5 months | 2 months |
Saint Vincent and the Grenadines business setup summary
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