About Saint Vincent and The Grenadines Offshore jurisdiction
Saint Vincent and the Grenadines is a State of the Lesser Antilles located in the Caribbean region, between Venezuela and the island of Granada. It is an insular nation of the Commonwealth, which comprises about thirty islands, the main island of which is San Vicente, with its capital, Kingstown. The country is a constitutional monarchy and Queen Elizabeth II appoints the Governor General. Saint Vincent and the Grenadines has been a member of the Organization of Eastern Caribbean States since 1981 and the Bolivarian Alliance for the Americas (ALBA) since 2009.
Until 2001, the financial sector was very poorly regulated, which resulted in Saint Vincent and the Grenadines being considered a non-cooperative country in tax matters. The country was then gradually regulated to fight against money laundering, illegal activities and to face international pressure. Moreover, services account for more than 70% of the country’s GDP. The regulation of financial services has therefore become necessary.
Taxation in Saint-Vincent-and-the-Grenadines
This juridiction in the Southern Caribbean is known for its private islands and yacht-filled harbours. Saint Vincent and the Grenadines is also considered a high-quality international financial centre, making it an attractive jurisdiction for investors. Indeed, it may be interesting to set up an offshore company in Saint Vincent and the Grenadines. The income of offshore companies is exempt from tax. There is no withholding tax on dividends and profits and no inheritance tax. There are no accounting or auditing requirements. Finally, there is some freedom of decision regarding the qualifications of the rights and benefits of one or more currencies.
Saint Vincent and the Grenadines is a flexible tax haven. The island authorities have not signed a double tax treaty with other states. In addition, you will find political stability and a legal system based on common law. The offshore companies in Saint Vincent and the Grenadines are not only for large groups, as some might believe. Indeed, many entrepreneurs, consultants, lawyers, stockbrokers or advisors have chosen this jurisdiction. Nevertheless, some activities are not allowed as an offshore company on the island such as online gambling, the tobacco trade or online payment companies, for example.
Open an offshore bank account in Saint-Vincent-and-the-Grenadines with FBS Banking™
The banking sector on the island is not very important but international banks have been established there and legislative changes have taken place for offshore companies. This has made possible to convert the country into a secure and private territory. It is very important to be able to protect its assets in the business world and Saint Vincent and the Grenadines is an ideal place to make your investments secure. Indeed, offshore banks do not earn money by lending yours but by offering their clients wealth management as well as investment services. In addition, banks on the island do not set minimum balances on bank accounts.
Since 2012, FBS Banking™ has entered into a privileged partnership with a Class A bank in Saint Vincent and the Grenadines, which has enabled it to create an exclusive product, “the Europe Privilege Account”. This advantageous account has many advantages including multi-currency accounts, anonymous bankcards, two online brokerage platforms, and many investment opportunities, including precious metal trading (Gold, Silver, and Platinum). FBS Banking™, an expert in the offshore banking sector for more than 20 years, selects only the best banking partners for you.
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