International Business Companies in St.Lucia

IBC's may be registered in St. Lucia under the Act by; Incorporation, Continuation, Merger or Consolidation. The following are the key features of the Act:

1: All companies must have a Registered Agent and a Registered Office.

2: The Act provides for confidentiality of Shareholders, Directors and Officers. Only the registered agent and the registered office are public records.

3: IBC's may elect to be exempted from income tax or to be liable to income tax on profits and gains at 1%. Also IBCs are not subject to stamp duties, withholding tax and capital gains tax.

4: No audit or annual filing required unless the IBC elects to pay tax. The government fee is the only annual requirement.

5: Great flexibility and control of the operations of the IBC. The shareholders can limit the powers of the directors through the memorandum and articles of Association, or through a unanimous shareholder agreement.

6: Low annual fee: US$ 300.

7: The incorporation and annual fee is the same whether the capital of the company is less than or greater than US$ 50,000.

8: There is no requirement for local directors and meetings of directors may be held anywhere.

9: All Registered Agents are regulated to ensure professional efficient service.

10: Nominee shareholders and directors may be used.

11: Allows for shares with and without par value.

12: Makes provision for tax concessions for any specially qualified person working for the IBC in St. Lucia.

13: The IBC is not subject to exchange control.

Fee structure

Incorporation/Continuation fees are now pro-rated as follows:

• Applications received between January - March : US$ 300
• Applications received between April - June : US$ 225
• Applications received between July - September :US$ 150
• Applications received between October - December :US$ 75

An annual registration fee of US$300 for each IBC is due by 15th January in each and every year following incorporation.

The annual fee is the same whether the capital of the company is less than or more than US$ 50,000.

Name:

-  Search online: free
-  Reservation of one name for 30 days: US$ 50

IBC:

-  Online: US$ 100
-  Certified and sent by mail: US$ 150 + courier

Registration of articles of merger/consolidation/ arrangement: US$ 200

Registration of articles of dissolution: US$ 100

Rescinding articles of dissolution: US$ 100

Amendment to a company’s memorandum and articles within 30 days: US$ 50; Over 30 days: US$ 100

Notice of decision to cease maintenance of register of optional document: US$ 50

Affidavit attesting to a company incorporated under this act continuing its incorporation under the laws of another jurisdiction: US$ 100

Restoration fee: within 6 months of being struck-off: US$ 300
After 6 months of being struck-off: US$ 600

GOWEALTHY.COM © 2010
For comments: editor@gowealthy.com