What are the main advantages of incorporating a company (business) in Saint Lucia?

1. Stable political environment and sound legal framework

Saint Lucia boasts a stable political system and a robust legal framework rooted in British law as a member of the Commonwealth of Nations. This ensures clarity and reliability in business operations, essential for international investors.

2. Simplicity and efficiency of registration

The process of registering a company in Saint Lucia is fast and involves minimal bureaucracy. Competitive registration fees make it an affordable jurisdiction for establishing a business.

3. Favorable tax regime

Saint Lucia offers exemption from taxation on income earned outside the country and does not impose a capital gains tax. This allows entrepreneurs to optimize their tax obligations effectively.

4. Variety of business structures

Saint Lucia provides flexibility in choosing business structures, such as International Business Companies (IBC), Limited Liability Companies (LLC), and partnerships. This diversity allows entrepreneurs to select the structure that best suits their business goals.

5. Strategic location and modern infrastructure

The island’s strategic location in the Caribbean Basin makes it an ideal hub for international trade and investment. Modern infrastructure, reliable telecommunications, and skilled workers further enhance business operations.

6. Compliance with international standards

Saint Lucia adheres to international standards of financial transparency and anti-money laundering measures. This ensures trust in the jurisdiction and provides a secure environment for investors seeking to operate in a transparent setting.

How to register a company in Saint Lucia and what are the main requirements for such registration?

Step 1. Initial setup

• Initiating a preliminary project assessment, assessing risks, choosing the type of company, preparing the necessary documents and obtaining the necessary permits, determining the time frame, budget, and resources required to complete the process.
• Preparation and filing of the package of documents.

Step 2. Company registration

• Verification and reservation of the company name at the Registry of Companies and Intellectual Property (ROCIP);
• Facilitating the notarial process for the company’s official registration;
• Incorporating the company’s data into the ROCIP;
• Obtaining the Certificate of incorporation from the ROCIP, Memorandum and Articles of Association;
• Registering with the Inland Revenue Department and obtaining a Tax Account Number.

Requirements for registering a company in Saint Lucia on the example of an International Business Company (IBC):

• Shareholders: the company is required to have at least 1 shareholder.
• Director: the company must have a minimum 1 director.
• Company Secretary: no requirement.
• Minimum share capital: there is no minimum capital requirement.
• Registered agent: the company must have a registered agent in Panama.
• Liability: the liability of its shareholders is limited to the amount of capital they have invested in the company through their shares.
• Accounting: by no later than 3 months after the financial year-end of the company, the following are required:
• an IBC is to submit an Unaudited Financial Statement
• the company’s Annual Tax Return is to be submitted to the St. Lucia Inland Revenue Department
• the Economic Substance Return is to be submitted

What do you have to know about taxes when registering a company in Saint Lucia?

Corporate income tax (CIT):

• IBCs are subject to a 30% tax rate on income earned within Saint Lucia.
• If a Saint Lucian IBC receives foreign source income, dividends or capital gains, such income is not taxable in Saint Lucia.
• IBCs are required to register with the Saint Lucia Department of Internal Revenue and obtain a Tax Account Number.

Personal income tax (PIT):

The PIT rates are as follows:

• $0 to $15,000 – 15%
• from $15,001 to $30,000 – 20%
• above $30,000 – 30%

Value-added tax (VAT):

IBCs don’t have to pay VAT.

For readers 

Manimama provides assistance in choosing the right jurisdiction for company incorporation and in registering a business specifically in Saint Lucia. We have a good understanding of the tax and legal peculiarities of specific jurisdictions, which helps our clients make an informed choice based on their unique needs and development strategies. In our work, we take into account factors affecting the business environment, such as the level of competition, access to financial and human resources, as well as opportunities for further growth and development in different jurisdictions. 

By choosing our company formation service in Saint Lucia, you are working with a law firm that values integrity, competence, and client satisfaction. Let us help you set up a company in Saint Lucia and pave the way for your business success!

Our contacts

If you want to become our client or partner, feel free to contact us at support@manimama.eu.

Or use our telegram @ManimamaBot and we will respond to your inquiry.

We also invite you to visit our website: https://manimama.eu/.

Join our Telegram to receive news in a convenient way: Manimama Legal Channel.

---

Manimama Law Firm provides a gateway for the companies operating as the virtual asset wallet and exchange providers allowing to enter to the markets legally. We are ready to offer an appropriate support in obtaining a license with lower founding and operating costs. We offer KYC/AML launch, support in risk assessment, legal services, legal opinions, advice on general data protection provisions, contracts and all necessary legal and business tools to start business of virtual asset service provider.

---

The content of this article is intended to provide a general guide to the subject matter, not to be considered as a legal consultation.