What you need to register a business in Saint Lucia
In Saint Lucia, you can register an international company of the IBC type — an International Business Company.
A package of documents: a memorandum of association, an order on appointment of directors, a certificate of a registered office of the company in Saint Lucia, a statement from the owner of the company that he is of legal age.
An authorized capital. Saint Lucia regulations do not specify the requirements for the minimum amount of the authorized capital of an international company (IBC). In practice, it is enough to invest $50,000. There is no requirement to present the articles of association with the company. But we recommend that you prepare the bylaws first.
A par value of a share can be $1. At the same time, it is allowed to issue shares without a par value.
A composition of the company. There can be any number of directors, shareholders and secretaries, at least one. They can be legal entities or individuals who are residents of any country. Information about them is stored only in the register of enterprises in Saint Lucia.
A name of the company must contain the words Incorporated, Corporation, Limited or Inc., Corp., Ltd., GmbH, SA.
5 steps to register an international company in Saint Lucia
- Company registration documents are processed in 2 business days.
- After the approval of the documents, the company is put in the register of commercial organizations. Registration certificate is issued within 6 days.
- Production of the seal will take from 2 to 5 days depending on the type of seal: rubber or embossed.
- At the same time, the owner of the company will receive a TIN, a taxpayer identification number. A tax code will be issued to each employee of the company.
- Then you need to register the company as an employer with the social security service.
Registering a company in Saint Lucia costs around $1,500. The cost of maintaining the company is $800 per year. Trademark registration costs $1,000.
Taxes for companies in Saint Lucia
The government of Saint Lucia has developed a tax system with low rates. There is no VAT, no capital gains tax. Income tax is not charged if the income is received outside the country.
Tax rates for legal entities which are tax residents of Saint Lucia:
- 0% on company income outside the country;
- 15% of VAT for companies that receive income in Saint Lucia. At the same time, hotels pay 8%;
- 1% of income tax. Or you can pay the state fee, then you won’t have to submit reports to the tax office and conduct an audit;
- 5% of social contributions;
- 0.25% for residential property and 0.4% for commercial property;
- up to 5% for the transfer of real estate for the seller and 2% for the buyer.
Once a year, the company must pay an annual government tax of $300.
How to obtain Saint Lucia citizenship
Saint Lucia citizenship can be obtained by the entire investor’s family, including children under 30, parents over 55 and siblings under 18. Passports for the family will be issued within 2 to 6 months.
Program offers 4 investment options to choose from:
- A non-refundable contribution to the Saint Lucia National Economic Fund of $100,000. The amount depends on the number of family members. For example, an applicant, his wife and two children will need $150,000.
- A purchase of government-approved real estate worth $300,000 or more. Real estate in Saint Lucia within the framework of the program includes luxury hotels or apartments.
- A contribution to government securities of $250,000. Securities can be redeemed in 5-7 years.
- Investments from $3.5 million in a government-approved business project.
Additional program costs include Due Diligence and administrative fees. The amounts depend on the number of program participants and their age.
What business projects Saint Lucia offers for investment
In order to obtain Saint Lucia citizenship, you can invest in one of the developing companies. The government has approved the following business projects:
- road infrastructure facilities: highways, bridges;
- tourism infrastructure: cruise piers, ports, hotels, restaurants;
- research institutions.
The minimum investment in a business project is $3,500,000. It is also necessary to create at least three jobs.
4 main benefits of St Lucia citizenship by investment
- The St Lucia passport allows you to travel to 145 countries without visas, including the Schengen countries, the European Union and the UK, Singapore, Hong Kong.
- Possibility to change tax residence.
- Low tax rates for tax residents of the country.
- Legal activity of the company in the international legal field.
For details, please contact the specialists of our company. We will study your situation in detail, recommend the most rational and profitable solution and provide full support at all stages of business registration, obtaining citizenship.