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Trade Licenses
All foreign individuals and companies who intend to conduct business in St. Lucia require a trade licence which is issued by the Ministry of Commerce, Industry and Consumer Affairs. A company is considered a foreign company if more than 49% of the company's shares is owned by foreign nationals. The application which is completed in triplicate is considered by the Trade Licence Advisory Board. The trade licence is an annual one which expires on December 31st in the year that it was granted. Applications for renewal must be made every year.
Work Permits
Under the Foreign National and Commonwealth Citizens (Employment) Regulation, No. # of 1971, all persons who are not St. Lucian nationals or citizens require a work permit to engage in any form of occupation on the island. This can be obtained from the Labour Department of the Ministry of Legal Affairs, Home Affairs and Labour, John Compton highway, CASTRIES, St. Lucia.
Establishing A Company
Incorporating a company must be done through a lawyer registered in St. Lucia. Documents required are:
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Declaration of Compliance;
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Memorandum of Association;
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Articles of Association.
Local Taxes and Fees
Depending on its location in St. Lucia and the nature of its business, the company would be required to pay fees to the Castries City Council (located on Peynier Street, Castries) or respective town or village council. These relate to taxes on property and trading fees which are payable on an annual basis.
Other Regulations
If a company is desirous of developing land it must apply for permission to do so from the Planning Department of the Ministry of Finance and Planning (First Floor, Block C, Greaham Louisy Administrative Building, Waterfront, CASTRIES). The application which must be made in triplicate should be accompanied by maps and plans. Failure by authorities to give a decision for development approval within ninety days may be deemed a refusal. The applicant however, has the right to appeal.
In cases where the proposed development can have environmental implications, the Development Control Authority (DCA) of the Ministry of Finance and Planning would authorize the conduct of an Environmental Impact Assessment (EIA), the results of which would determine approval.
In the case of food operations, these would require a permit from the Division of Public Health of the Ministry of Health, Human Service, Family Affairs and Gender Relations (Chaussee Road, Castries). These permits are granted on an annual basis.
Procedures associated with setting up a limited liability company in St. Lucia
Search for a company name and reserve the proposed name (2 days)
Fee: XCD 25
In practice, companies seldom search for the company name. The lawyer often simply fills out the registration form with the name of choice, and if there is a conflict at the registry, the registrar will reject the application. A name can be reserved for a 3-month period.
Lawyer prepares incorporation documents (1 day)
Fee: XCD 2325
An attorney prepares the incorporation documents, which include (a) the articles of incorporation; (b) the notice of directors; (c) the notice of the companyâTMs registered office; (d) and the notarized declaration swearing that the company owner is mentally sound and over 18 years of age. Bylaws are not essential for forming the company but are highly recommended. They are usually filed together with the other documents in this procedure and are included in the company formation fee.
Registering with the Commercial Registry (10 days)
Fee: XCD 850
When registering the company with the Commercial Registry, the promoters pay an administrative fee when presenting the documents for registration. The Registry issues a certification of incorporation once the registration process is finalized.
Make company seal (7 days)
Fee: XCD 75
A company can obtain a rubber-stamp seal locally in 7 days. Far more formal embossed seals can be obtained from overseas in 14 days; the cost is about XCD 260.
Obtain tax payer identification number (1 day simultaneous with previous)
Fee: Free of cost
The competent authority is the Inland Revenue Department.
Register as employer with social security institute (1 day, simultaneous with previous)
Fee: Free of cost
The competent authority is the National Insurance Corporation.
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Source: Pinnaclestlucia.com
