Company registration in Saint Lucia

Saint Lucia is a Caribbean jurisdiction that has long been popular with foreigners. It is beneficial for non-residents to register new companies in Castries, the capital of St. Lucia. The country is suitable because of the ease of business registration, convenience for international tax planning, and other advantages.

Advantages of Saint Lucia as a jurisdiction for business registration

If you are considering registering a company in St. Lucia, the business decision you make can be profitable because of these advantages that the state makes open:

• a good reputation of the jurisdiction, which is focused on the needs of non-resident investors;
• confidentiality of starting and running a business - information about its participants is not disclosed;
• the fast company registration process in Saint Lucia.

Forms of legal presence and business

A foreigner can open a business in Saint Lucia as an IBC (International Business Company). Even a non-resident can set up an offshore company in Saint Lucia. There are no legal requirements for authorized capital, but it is standardly 50,000 US dollars. It's not required to form the money before registration. There are no mandatory requirements for reporting, annual audit, and availability of a secretary. Prifinance lawyers are ready to accompany your decision to register or buy a company in Saint Lucia and choose the most appropriate way to implement it.

Company registration in Saint Lucia

In Saint Lucia, an offshore company can be registered even remotely. A data package is submitted for registration, including information on the participants, activities of the future company, the decision to establish a company, its constituent documents, and completed registration forms and confirmation of payment of the registration fee. Registration is not burdened with unnecessary formalities but has several legal nuances with which Prifinance lawyers will support you to deal.

The legislative and regulatory environment

Saint Lucia belongs to the Anglo-Saxon legal system. The jurisdiction has previously introduced several measures aimed at facilitating the inflow of foreign investment into the country and doing business outside the country, including in taxation. There are no restrictions on the residency of the business founders in the country. So, even a non-resident can be the director of an offshore legal entity. There is no need to hire a company secretary. An offshore company must have a legal address, but it does not have to have a physical office in Saint Lucia. It simply settles accounts in U.S. dollars in the country.

Saint Lucia's tax system

It is advisable to consider the option of opening a firm in St. Lucia along with the following information about the tax system of the region:

• Corporate tax - 30%
• Income tax - 30%
• VAT - 12,5%
• Withholding tax (for non-residents) - (1) Dividends - 0% (2) Interest - 15% (3) Royalty - 25%

It is much more profitable to register offshore in Saint Lucia due to the non-application of taxes outlined above in case of doing business outside the country (rates - 0%). Prifinance lawyers are ready to advise on all the nuances of taxation in your particular case.

How Prifinance lawyers can assist:

• to advise on choosing a jurisdiction to implement your current business objectives and suggest even more suitable alternatives. As the practice of the lawyers of Prifinance shows, it is possible in almost every case;
• to choose the most appropriate form of a legal entity, as provided by the legislation of St. Lucia;
• to collect and prepare all necessary documents and other materials for submission to the competent authorities in the process of a company registration;
• accompany the registration process of your future legal entity until a favorable decision on the issue is obtained;
• provide legal support in the process of opening bank accounts for your new company in Saint Lucia;
• assist with legal advice and facilitate the resolution of any issues that may arise during the operation of your new company in Saint Lucia.

Prifinance lawyers will only need information about your background and business details. Provide input and get detailed advice with comprehensive legal assistance.