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St. Vincent and the Grenadines

International Business Company (IBC)

General

Type of Company IBC

Average timeframe to set up a new company 1 - 2 days

Average timeframe to activate shelf company 1 day

Migration of domicile possible? Yes

Corporate Requirements

Standard authorised share capital US$ 100 (there is no maximum)

Bearer shares allowed? Yes

Minimum number of shareholders/members One

Minimum number of directors One

Corporate directors permitted? Yes

Local directors required? No

Local meeting required? No

Company secretary required? No

Taxation

Corporate tax rate N/A

Ordinary tax base N/A

Tax exemptions N/A

Withholding tax on dividends - tax rate None

Withholding tax on interest - tax rate None

Withholding tax on licence fees and royalties None

Double taxation treaties None

Value Added Tax rate N/A

Disclosure and Reporting Requirements

Disclosure of beneficial owner No

Government register of directors No

Government register of shareholders/members No

Annual return No

Submission of accounts No

Audit required? No

Incorporation and 1^st Year Fees and Taxes Annual Maintenance Fees and Taxes

Type of company IBC IBC

Incorporation Fee¹⁾ US$ 1,100

Government Tax 100 Government Tax 100

Domicile Fee²⁾ 750 Domicile Fee 750

Total Incorporation 1^st Year Statutory Costs 1,950 Total Annual Statutory Costs, USD 850

Administration³⁾ 1,000 1,000

Director Fee⁴⁾ 1,800 Director's Fee 1,800

Total 1^st Year 4,750 Total Annual Maintenance, USD 3,650

Note: all fees are quoted in United Stated Dollars (US$). Currency Converter

¹⁾ This fee includes all costs involved in registering the company with the St. Vincent & The Grenadines authorities and the provision of copies of the articles and the minutes necessary to appoint the first directors and shareholders. This fee does not include the cost of providing the company with a Company Seal and Minute Book.

²⁾ Includes the provision of registered office/agent, statutory filings and notices, standard nominee shareholders and corporate nominee director (US$ 50 transaction charge applies).

³⁾ All time is charged on an hourly basis and the minimum fee is credited against the actual time incurred.

⁴⁾ This fee includes the provision of three professional directors and company secretary.

General
Type of Company	IBC
Average timeframe to set up a new company	1 - 2 days
Average timeframe to activate shelf company	1 day
Migration of domicile possible?	Yes
Corporate Requirements
Standard authorised share capital	US$ 100 (there is no maximum)
Bearer shares allowed?	Yes
Minimum number of shareholders/members	One
Minimum number of directors	One
Corporate directors permitted?	Yes
Local directors required?	No
Local meeting required?	No
Company secretary required?	No
Taxation
Corporate tax rate	N/A
Ordinary tax base	N/A
Tax exemptions	N/A
Withholding tax on dividends - tax rate	None
Withholding tax on interest - tax rate	None
Withholding tax on licence fees and royalties	None
Double taxation treaties	None
Value Added Tax rate	N/A
Disclosure and Reporting Requirements
Disclosure of beneficial owner	No
Government register of directors	No
Government register of shareholders/members	No
Annual return	No
Submission of accounts	No
Audit required?	No

Incorporation and 1^st Year Fees and Taxes		Annual Maintenance Fees and Taxes
Type of company	IBC		IBC
Incorporation Fee¹⁾	US$ 1,100
Government Tax	100	Government Tax	100
Domicile Fee²⁾	750	Domicile Fee	750
Total Incorporation 1^st Year Statutory Costs	1,950	Total Annual Statutory Costs, USD	850
Administration³⁾	1,000		1,000
Director Fee⁴⁾	1,800	Director's Fee	1,800
Total 1^st Year	4,750	Total Annual Maintenance, USD	3,650