Annual renewal of the SVG offshore company in 2024
- Every December, Healy Consultants Group will timely accurately complete our Client SVG company’s annual renewal engagement with the St Vincent and the Grenadines Government including i) settlement of Government annual fee of US$5,450 and i) submit a legal annual return. Refer to this web page to better understand the SVG company annual renewal process; and
- All companies no matter what their incorporation date, are due for renewal on the 31 December each year. Together with the annual Government fee, the legal annual return (click link) is submitted to the General Registry and comprises i) a statement confirming the operations of the company were mainly conducted outside of the Islands and ii) a statement showing that the company is not engaged in trading with local companies and iii) details re the nature of overseas operations and iv) and any changes to the company’s articles of association and memorandum over the past 12 months; and
- For SVG offshore limited companies, there is no requirement to file any corporate audit or tax reports of any kind to the St Vincent and the Grenadines authorities. However, for SVG business companies, an annual tax return filling is mandatory;
- Healy Consultants Group must submit an economic substance report to the Department of International Tax Cooperation, if our Clients’ SVG non-resident entity engages is certain business activities including i) being a holding company or ii) holding Intellectual property or iii) being a Headquarters or iv) finance & leasing or v) Insurance and Banking or vi) fund management or vii) distribution & service centres. Over the coming weeks, kindly inform Healy Consultants Group of the non-resident business activities of your SVG offshore company;
- Refer to this web page (click link) to view additional terms and conditions relating to your annual renewal engagement;
- Over the coming months, you may need Healy Consultants Group support for i) book-keeping and ii) monthly and quarterly Government reporting and iii) employee matters.
- An example of an annual renewal invoice follows:
View invoice PDF
As always and for your SVG entities, Healy Consultants Group in-house Accounting and Tax Department will timely accurately and completely discharge these annual statutory obligations. For transparency purposes, our Staff will bcc you in important Government emails.