Company formation in SVG

The US and European Union countries are seeking to collect more taxes from their companies; in addition, they are seeking to create financial transparency to avoid financing terrorism. SVG upholds these traditions and enacts appropriate laws. In particular, SVG has implemented the OECD Global Forum Common Reporting Standard. To this end, the SVG has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters and the Multilateral Agreement on Competent Authorities and adopted relevant legislation to implement these agreements.

If you wish, you can register here:

• LLC;
• IBC;
• Offshore banks (but they must obtain an additional license);
• Marine vessels;
• Trust institutions;
• Insurance companies.

LLC is today the most common type of company registered in this jurisdiction.

International banks, stockbrokers, forex brokers, pension management, mutual funds, insurance companies, and other relevant financial activities must obtain the appropriate license from other relevant authorities.

It is also worth noting that if your company uses cryptocurrency, this will not be a reason for rejection.

All companies registering here from 2019 must file a tax return and pay taxes for 30% of profits. It is worth noting that only those incomes you received from activities in this jurisdiction, and not all over the world, are subject to taxation.

After receiving the IBC or LLC certificate, the company is exempt from paying taxes for 25 years. At the same time, the owner can change the organization’s work and its name.
The fee for registering a company here is only $ 225; the organization charges an additional $ 100 yearly. But, there is an exception; for insurance companies, the fee increases to $ 500.

If you have questions about taxation in this jurisdiction, we advise you to contact our specialists for help. This country’s legal framework is changing quickly, so you must carefully monitor all innovations.

When registering an organization in this jurisdiction, you do not need to provide financial or accounting records, but you must complete a tax return.

St Vincent company registration has a lot of advantages; among the most important of them are:

• This state has tried to do everything, so the Registration Company in Saint Vincent and the Grenadines passes as easily and quickly as possible. So, it does not expose the citizenship requirements of the founder. It does not matter in which country your company is located and what citizenship you have. Your organization should employ at least 2 people – a director and a shareholder, which is incredibly convenient for small projects and start-ups.
• Information about the company’s owner and shareholders is confidential, so third parties cannot access it. However, they can receive data on the company’s authorized capital and legal address.
• After the organization’s registration, you receive the relevant certificate and exemption certificate from import duties. However, you will not be able to obtain a tax exemption certificate.

Your organization must have a registered office in this island country, and you must also have a registered agent in this territory.

Company Formation in SVG involves going through pretty simple steps:

The organization’s name can be written in any language and cannot be consonant or similar to existing ones.

• You need to come up with a name;
• Get a legal address;
• Open a bank account;
• Prepared the necessary documents;
• Apply.

After registering a company with CIPO, you need to open a bank account. To do this, you need to contact any bank in this jurisdiction. You need to carry documents describing partnerships within the organization.
In general, getting a bank account takes only a few minutes. It is worth saying that you need to deposit the entire amount of the authorized capital immediately. The amount of this fee is determined only by the characteristics of your company, and the jurisdiction does not set any requirements in this regard.

If you want the Registration Company in SVG process to go as quickly as possible and without any problems, you should contact the specialists of our company for help.
Their duties include full consultation and answers to possible questions, checking the readiness of documents, and how your company meets the requirements of the state authorities of this jurisdiction. You can draw up a power of attorney, and our specialists will act on your behalf. In this case, your work on registering a company will be minimal.