St. Lucia
International Business Company (IBC)

Benefits of a St.Lucia IBC Registration

  • https://buynowcompanies.com/wp-content/uploads/2020/01/3-directors-1-shareholder-required-no-locals.svg

    1 Director, 1 Shareholder Required, No Locals

  • https://buynowcompanies.com/wp-content/uploads/2020/01/incorporation-in-10-13-days.svg

    Incorporation in 2-3 days

  • https://buynowcompanies.com/wp-content/uploads/2020/01/legal-system-based-on-Civil-Law.svg

    Legal system is mixed Common and Civil Law

  • https://buynowcompanies.com/wp-content/uploads/2020/01/no-filing-of-financial-records-no-auditing.svg

    No Filing of Financial Records, No Auditing

  • https://buynowcompanies.com/wp-content/uploads/2020/01/no-local-tax-for-income-outside-Panama.svg

    No Local Tax for income outside St. Lucia

  • https://buynowcompanies.com/wp-content/uploads/2020/01/no-public-record-for-shareholders.svg

    No Public Record for Directors and Shareholders

St.Lucia IBC Company activities

Under the St. Lucia IBC Act of 2014 as it was amended, the St. Lucia IBC is an independent legal personality and has the same capacity to engage in any business provided that the activity is allowed by its memorandum and articles of association.  The Laws of St. Lucia state that it does not require a license such as bank, insurance, assurance, collective investment schemes etc.  Also, a prime limitation imposed by the Laws of St. Lucia is that the IBC is not permitted to carry on business with St. Lucia residents or owning an interest in real property situated in St. Lucia, in order to be exempt from local taxes.

St.Lucia IBC Company is optimal for:

  1. International Business
  2. Investment and Trading Activity
  3. Commercial Trading
  4. Technology and Web Business
  5. Asset and Wealth Protection
  6. Holding Services

International Business Company Incorporation checklist:

If you are considering the incorporation of a St. Lucia IBC Company, you should take into consideration the following points:

Company’s name

It must not contain sensitive words which are prohibited by legislation. The following words are prohibited: “Building Society”, “Chamber of Commerce”, “Chartered”, “Cooperative”, “Imperial”, “Municipal”, “Royal”, “Assurance”, “Bank”, “Insurance” “Trust” and any other words implying connection with university or professional association or activity prohibited by the Law. There is also a prohibition for words implying patronage or any connection with the governmental bodies or department of any country.

The company’s name must not be very similar to existing names on the registrar and it must not contain improper or objectionable words. It must end with a word or abbreviation signifying a limited liability, such as: “Limited”, “Corporation”, “Incorporated”, “Society Anonyme”, “Sociedad Anonima”, etc.

Registered office

A St. Lucia IBC Company is required to have a registered office address in St. Lucia which must be provided by an authorized registered agent in St. Lucia.

Directors

One director is the minimum required. There is no requirement for them to be locals and there is no requirement regarding the place and frequency of the board meetings.

Corporate entities or natural persons can be appointed as directors. The director’s details are not registered on the public record and cannot be accessed by the public; those details are only held by the registered agent of the IBC Company, who is bound by the law to keep this information.

Secretary

The appointment of a secretary is not mandatory but recommended. A corporate entity or a natural person can be appointed.

Shareholders

One shareholder is the minimum required. There is no requirement for them to be locals and corporate entities or natural persons can be appointed as shareholders. There is no requirement regarding the place and frequency of the shareholders’ meetings.

The director and shareholder can be the same person. The shareholders’ details are not registered on the public record and cannot be accessed by the public; those details are only held by the registered agent of the IBC Company who is bound by the law to keep this information.

Beneficial owners

The beneficial owners’ details are not registered on the public record and cannot be accessed by the public;, those details should be held at the IBC Company registered office in St. Lucia and be accessible to the authorities at any time.

Share capital

The owners of an IBC Company are free to determine any amount as the authorised capital at incorporation and it can be de-nominated in any currency, though the US Dollar is mostly preferred and the amount of USD 50,000 is suggested. The authorised capital is the maximum amount of capital that the company is authorised by its constitutional documents to draw from its shareholders in exchange of shares issued.

A St. Lucia IBC Company may have registered shares, with or without par value, with or without voting rights, preferential or common and may be issued in any currency. Bearer shares are not permitted.  

Paid up capital

No requirement is imposed on minimum paid up capital at incorporation; this means that the owners of an IBC Company are not required to set a deadline as to when such capital must be paid up.

Incorporation period

An IBC Company in St. Lucia can be incorporated within 2-3 days, St. Lucia is considered to have one of the fastest registries worldwide.

Shelf companies

Ready-made but unused IBC Companies are available in St. Lucia, in case you are in need of a quicker incorporation process.

Economic substance

Generally, if the IBC Company is carrying out certain types of business, it must meet specific physical presence requirements. This means that the company must have enough premises, amount of expenditures, employees within the jurisdiction, and the invested capital, based on its business activity and size. Moreover, the IBC Company is obliged to file the annual tax return.

The types of business are stated below:

Banking, Insurance, Finance and Leasing, Distribution and Service Centre (purchasing assets from other entities belonging in same group or providing services to entities in the same group), Shipping, Intellectual Property, Headquarters Business and Holding companies.

Accounting records and annual returns

The IBC Company must prepare and keep accounting records about its assets and liabilities to reflect accurately its financial situation.  Annual return, financial statements, and tax return are not required to be filed. The IBC Company is required to file its accounting records, but it is not required that those accounts are audited.

Taxation

In general, the St. Lucia IBC is the subject to the local tax regime. IBC Companies are taxed a corporate tax of 30% on the income derived from Saint Lucia.  However, there is an exemption in the jurisdiction of St. Lucia from any tax on income or profits that are from foreign origin. In addition, St. Lucia imposes no tax on dividends, earnings, rental income and revenues. Also, no tax is imposed on dividend, interest and royalties paid to non-residents.

Disclaimer: Buy Now Companies and its affiliates do not provide tax, legal, or accounting advice. Materials provided by Buy Now Companies and [insert domain name] have been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, or accounting advice. You should consult your own tax, legal, or accounting advisor with regard to your own tax, legal, or accounting scenario. Nothing on this webpage shall be construed as a contractual commitment or as a warranty. Services conditions are governed by the applicable terms and conditions.

Banking Partners

About Us

Buy Now Companies is a well-established Cyprus corporate service provider, with an international network of incorporation, support and banking services, which form the basis for starting up every business. What sets us apart from the rest corporate service providers, is our thorough understanding of clients’ needs and striving to provide the most expedient, cost effective solutions.

We offer a comprehensive selection of corporate services from a broad range of countries at competitive prices. We count more than 50 dedicated associates and representatives and it is our mission to constantly expand our services list, in accordance with the latest updates in the field.

MORE ABOUT US

Close