Open offshore in Saint Lucia

The tax haven of St. Lucia is located on the island of the same name in the Caribbean, until 1979 it was a British colony. Key areas of the economy – registration of non-resident companies, tourism. The state belongs to the members of the British Commonwealth and the United Nations.

Jurisdiction is not included in the "black" and «gray» lists of the EU, OECD, FATF, since the country is not popular among foreign citizens as a place to do business, it is not considered a major center. The OECD recognized the country as partially compliant with the requirements for the exchange of tax information. Nevertheless, the Ukrainian Cabinet of Ministers included the state in the lists of offshore companies.

Tax-free legislation in Saint Lucia has been in force since 1999. Offshore is suitable for entrepreneurs who do not want to disclose personal data, as well as businessmen who want to obtain a second citizenship by investment.

Official language

English

Legal forms of companies

• International Business Company (IBC);
• Private Limited Company;
• partnership;
• branch.

Classic offshore – IBC.

Capital

Castri

Major cities

Soufriere, Bexon

Form of government

Constitutional Monarchy

Legal system

Mixed – English and French

Currency

East Caribbean dollar

Registration fee

What's included

1. Advice on all issues of offshore registration, taxation in Saint Lucia.
2. Due Diligence.
3. Preparing documents.
4. Paying the registration fee.
5. Issuing a power of attorney for a representative.
6. Registration of the company in the state register.
7. Apostille of documents.

Documents required from the beneficiary

1. Memorandum of Association.
2. Charter
3. Appointment of a director.
4. Consent of the manager to occupy the position.
5. First director's resolution.
6. A document confirming the assignment of a legal address.
7. List of board members.

Documents provided after registration

1. Charter
2. Memorandum of Association.
3. Certificate of Incorporation
4. Share Certificate

Working algorithm

1. Lawyers in the field of international and corporate law conduct consultations in person or by phone.
2. Let's organize the procedure for identifying the beneficiary.
3. After paying for our services, we prepare documents and legalize them.
4. Paying the registration fee.
5. The company is registered, registration documents are handed over to you.

Jurisdiction Benefits

1. Not on international lists of unreliable jurisdictions.
2. No requirements for reporting, auditing.
3. Income earned abroad is not subject to corporate tax (if you wish, you can pay 1% or a flat rate of license fee), there is no capital gains tax. The corporate tax is 30% if the profit is received in the territory of Saint Lucia. No VAT, no real estate sales tax.
4. High level of confidentiality of information about the beneficiary (data is available only to the local agent, who has the right to refuse to transfer information to international control authorities). Only the articles of association and memorandum of association are publicly available.
5. No need to rent a physical office.

Disadvantages of jurisdiction

1. Saint Lucia is recognized as an offshore in Ukraine.
2. Not enough registration agents.

List of banks in jurisdiction

1. 1st National Bank St. Lucia Limited.
2. Bank of Saint Lucia International Limited.
3. Capita Financial Services.

Company Requirements

1. Minimum 1 director (maximum 7) and 1 shareholder, nationality does not matter.
2. There are no requirements for the authorized capital, the recommended amount is – $50,000. Capital is optional.
3. The name must indicate limited liability (Ltd., Inc., etc.), associations with the royal family, government agencies are prohibited.
4. The presence of a legal address, a registered agent in Saint Lucia.

Corporate law

• The International Business Company Act (1999);
• Rules Governing International Business Companies (2000).

Tax Information Agreements

The country adopted the protocol to the ISAA Convention on the exchange of information in 2016 (entry into force – in 2017), bilateral agreements were signed with 63 countries.