St Vincent and The Grenadines

Population:

117,000

Currency:

Eastern Caribbean dollar, EC$2.70 = US$1 (mid-2005, fixed rate)

Language:

English

Time zone:

GMT minus 4

Centre's expertise:

Flexible IBC and trust acts, interesting mutual fund legislation and competitive pricing

General requirements

Type of entity

IBC/LDC

Type of law

Common Law plus local statues on banking and finance

Shelf company available

Yes

Time to establish a new company

Same day; can also be done online

Taxation

No taxes for 20-year period

Double taxation agreements

None

Forex restrictions

None

Language & name restrictions on companies

None apart from usual to obviate confusion; Royal etc. not allowed

Share capital

Permitted currencies

Any, but US$ is standard

Minimum paid up

No

Usual authorized capital

US$100 for IBCs, higher for other financials

Directors and personnel

Minimum number

1

Local required

No

Company secretary & qualifications

No

Shareholders and AGM

Minimum number

1

Disclosure requirements

No

Publicly accessible records

No

Obligations for annual meetings

Yes

Location of AGM

Anywhere

Accounts

Requirement to prepare

Yes

Audit requirements

No

Account filing obligations

No

Publicly accessible accounts

No

Other

Requirements to file annual return

No

Change in domicile permitted

Yes

Need to registered office

Yes

Number of companies set up in last year

1,026 (in 2004)

Total number of companies on register

6,280