12 steps to register a company in St. Vincent and Grenadines in 2024

By requesting Healy Consultants Group to register their SVG business, there is no requirement to personally travel during the engagement. Our Firm will timely and efficiently complete all procedures for incorporation on our Client’s behalf.

Please refer to the section below for further details on the steps to setting up a company in St. Vincent and Grenadines.

• Pre-incorporation

  1. Consultation phase:
     Prior to starting a new SVG company incorporation process, we discuss our Client’s business goals and requirements for their new entity and plan the optimal structure for the entity to be setup i) fees payable for the engagement; ii) potential licensing requirements (including banking or VASP crypto license) and iii) desirable amendments to the model authorized or paid up share capital. Thereafter, Our Client settles Healy Consultants Group’s engagement fee; iv) signs and returns our Client Engagement Letter; v) provides us all the due diligence documents, required by our Compliance Team;
  2. Ownership structure:
     Because the compliance onboarding obligations can be extensive, Healy Consultants Group advises our Client to keep the St. Vincent corporate structure simple with one foreign director/shareholder. The Client confirms i) details of the preferred shareholders for the company, including the authorized or paid in share capital. The minimum required share capital is US$1. Resident directors are not mandatory requirement;
  3. Company Registered agent:
     Our Client must appoint a registered agent in St. Vincent. As always, Healy Consultants Group will supply our Client with this administrative service;
  4. Registered office:
     In accordance to the St. Vincent Company Laws, our Client is required to file an address with the companies’ registry to which official correspondences can be sent and statutory records can be inspected. The Client may decide to utilize Healy Consultants Group’s mail forwarding and call collection services, if required, and will be included in our extended service offering;
  5. Planning phase:
     Healy Consultants Group prepares a quality complete detailed project plan, mapping out the process in detail from beginning till the end of the engagement, including i) SVG business incorporation; ii) registered agent and address appointment; iii) corporate bank account opening; and iv) obtaining applicable licenses, thereby increasing transparency as well as setting Client expectations and minimizing disruption to project completion;
  6. Document preparation:
     Following approval of the corporate structure and aligning ownership details, our SVG Incorporation Team gathers all the documents required to complete the incorporation, assisting our Clients to complete and authenticate all necessary personal or corporate due diligence papers and submit them in a timely manner.

• Incorporation steps

  1. Document submission:
     Without personal signatures or courier of due diligence required, within 3 days of Client file approval, our SVG Incorporation Team files complete company formation application to the FSA. Our Client can expect the business entity will be incorporated within 48 hours from filling complete company formation application. Following company registration, our Firm immediately emails our Client with the certificate of incorporation, Register of members set and share certificates;

• Post-incorporation steps

  1. Bank account opening:
     Once incorporated, the Client can apply for a guaranteed offshore corporate bank account. Our Team helps our Client to prepare a quality business plan for the bank to optimize the probability of corporate bank account approval;
  2. Additional registrations:
     Annually, Healy Consultants Group will assist our Client timely complete ultimate Beneficial ownership and Economic Substance filings;
  3. Licensing:
     Some business activities, including banking, crypto-currencies and other regulated onshore activities will require our Client to secure a proper license . We regularly assist our Clients with navigating the SVG regulatory environment and obtaining the necessary licenses;
  4. Registration completion:
     Following the receipt of all necessary approvals and documents, Healy Consultants Group couriers a full company kit to our Client, including original corporate documents, unopened bank correspondences, and lastly a Client feedback survey to make sure that all the Client expectations were met during the entire engagement period.
  5. After our Client’s SVG business is setup, our Client will be approached by our Accounting and Tax Department to ensure our Client’s new company to remain compliant and in good standing with the FSA.