Saint Vincent or Saint Vincent and the Grenadines is a small Caribbean tax haven that lies in the Lesser Antilles islands. As a tax haven in which offshore companies are founded, Saint Vincent is especially used for anonymity of ownership and high-quality offshore banking services. The capital of Sv. Vincent is Kingstown. The official language is English. Currency Sv. Vincent: East Caribbean Dollar (ECS) firmly fixed to the US dollar at a rate of 2.70 ECS / USD 1.
Beware of the novelty – there have been several legislative changes regarding the taxation of International Business Companies (IBCs) in this jurisdiction. With effect from 1 January 2019, all new IBCs will be taxed at a rate of 30% of global income (ie revenue earned in St. Vincent and the Grenadines and outside of St. Vincent and the Grenadines).
IBCs established before January 1, 2019 will continue to be exempted until 2021. The reason for the changes is that the European Union has warned that St. Vincenc and the Grenadines may rank blacklist unless some tax changes are made by 31 December 2018.
In order to avoid blacklisting, it was required to tax the IBC at a similar or equal tax rate as a local company, which is 30%.
Saint Vincent and the Grenadines are now taxing the IBC’s worldwide revenues, but it was generally expected that this jurisdiction would pass to the territorial taxation system, not only taxation of income earned in the jurisdiction and the exemption of non-jurisdictional income. IBCs obtaining their income outside the jurisdiction would remain exempt from tax. However, the government has decided to postpone the transition to the territorial taxation system at a later time.
Saint Vincent and the Grenadines have signed these treaties. The practical significance of these agreements for company owners is particularly the case of suspicion of money laundering or terrorist financing by the IBC company at Sv. Vincent and its registration agent can pass on the personal data of the persons participating in the company and a basic description of its activities to its superior authorities, which will move further in international assistance, eg to the Czech Republic.
Not concluded. Direct payments from the Czech Republic to Sv. Vincent and the Grenadines are subject to withholding taxes. IBC offshore company from Saint Vincent is not suitable for the direct sale of goods or services to the Czech Republic.
The contract is not concluded – higher degree of anonymity of the IBC offshore company’s ownership of Sv. Vincent.
Issue is not finished – higher degree of ownership anonymity.
Are you interested in setting up a company in this destination? Contact us.
Establishment of the company, its settlement, delivery of apostilled documentation, bookkeeping. All under one agency.
Do you have a foreign company and don’t know if you have fulfilled all your legal obligations? We can help you to check and comply with all government requirements.
Are you dissatisfied with the performance of your directors? Are they not meeting deadlines? Try us.
Do you already have an offshore company? Do you want better conditions? Change your registration agent.
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Praha 2, 120 00
In 1996 we became a registration agency as Parker & Hill Ltd. In 2011 we underwent a transformation and began to operate internationally under Parker & Hill Inc.
We are a member of the international consortium NWMS Ltd. We incorporate companies directly for you within 16 jurisdictions. We are not re-seller, we are the registration agency.
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