Saint Lucia is an independent island country in the eastern Caribbean Sea. Since its independence from UK in 1979, St. Lucia has given lot of importance to tourism and offshore company formation for its economic development. In fact, foreign investment is the main source of income for St. Lucia and IBCs play an important role for increasing foreign reserves in the country.
In order to attract more and more foreign investment in the country through offshore company formation, St. Lucia provides several benefits and incentives to foreign investors. It is due to these advantages that there are large numbers of offshore corporations in St. Lucia and many more are expected to start operating in future.
Following are most important advantages and facilities available for offshore company formation in St. Lucia for foreign investors.
- St. Lucia is one of the safest and most reputable countries in the world from financial point of view. The country has never been blacklisted or even came under suspicion by any international financial organization. It means there is no fear for foreign investors to open IBC in St. Lucia
- IBCs are allowed to do any type of business outside St. Lucia
- There is no tax applied on offshore companies in St. Lucia as these IBCs gain profit from outside the country. They are free from income tax, corporate tax, capital gains tax etc
- Only a single director and shareholder are required to setup St. Lucia IBC. Both these positions can be taken by a single entity (person or corporation). There is no requirement of an officer
- Meetings of directors and shareholders can be held anywhere in the world
- Privacy is given utmost importance for IBCs. Names of directors and shareholders are not made public
- There is also no requirement for filing of audits, financial statements or accounting records of IBCs. They only have to keep financial documents at company’s registered office in St. Lucia
- St. Lucia remained under British rule for most of its time before independence in 1979. It is the reason that English is the official language and it is also language of documentation
- Registration process is fairly quick and simple. Very few documents are required and it usually takes just 2 to 3 working days for registration of IBC
- IBCs establishment and annual fees ($300) are also low as compared to most of other offshore jurisdictions
These are few of several advantages available in St. Lucia for offshore company formation. For further details, you can contact DOCS Consultancy via our landline # 971-4-5586339.