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St Lucia Offshore Company Registration - Business Setup

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5 simple steps are needed to register an offshore company in St Lucia

 
 
Upload your documents
Your account manager will ask you for official documents which are required for your company formation.
 
Register your company successfully
Once your documents have been processed your company will be successfully registered.
 
Process any additional services
Your account manager will guide you through the steps of completing your request of additional services such as bank accounts.
 
Manage Your company via our client portal
Our client portal will give you immediate access to all your documents as well as display your company structure.
 
 

St Lucia Offshore Banking Options

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St Lucia Offshore Company Formation

Good to Know
St. Lucia's international financial services industry has sprung up as a result of the country’s need to diversify its economic base, which — as a beneficiary of the U.S. Caribbean Basin Initiative, a member of the Caribbean Community and Common Market (CARICOM), and the Organization of Eastern Caribbean States (OECS) — is ripe for substantial expansion and growth.

Main Characteristics of a St Lucia Offshore Company

Governing corporate legislation
St Lucia International Business Companies Act of 1999 and International Business Companies Regulations, 2000.
Information published relating to company officers
There is a public registry. However, no names of shareholders, directors and officers are visible. Only the memorandum and articles of association are publicly accessible.
Accounting requirement
By no later than 3 months after the financial year-end of the company, the following are required:
  1. An IBC is to submit an unaudited financial statement (UFS), to us and the registered agent, failing which the government will apply a penalty and the same will accrue until submission.
  2. The company’s annual tax return is to be submitted to the St. Lucia Inland Revenue Department (IRD). The UFS is to be attached.
  3. The Economic Substance Return is to be submitted (currently to us for onward transmission to the IRD, but in time it will be directed to the IRD.)
Taxation
All St Lucia IBCs became tax residents as of 1st July 2021. This means that those IBCs which were tax-exempt before that date are now required to register for a Tax Account Number.
An exemption exists for foreign-sourced income provided the IBC qualifies by meeting the economic substance requirements.
Foreign sourced income is taxed at 30% and domestic sourced income is exempt.
While the company might be subject to local tax regulations in St Lucia, please consult with a tax/legal advisor in your country of residence, to determine your own tax liability.
Legislation
Modern offshore legislation.
Standard currency
US$
Time to form
St Lucia has a fast and efficient registry: it takes about 48-72 hours to register a company (upon validation of your identification documents).*
Stability
Stable jurisdiction with a very good reputation.
Communication
Efficient communication means.
Time zone
Convenient world time zone: UTC/GMT-4
Secretary required
No
Paid up capital requirement
No paid up capital requirement. The standard share capital is USD 50,000 but can be amended to fit your requirements.
Renewal Date
Anniversary date of the company / Each Year
Basis of legal System
Under Civil Law and Common Law.
Minimum directors/shareholders
Minimum of 1 director/shareholder
Bearer shares
Bearer shares not permitted

Documents Required

for the Creation of a St Lucia Company

A certified copy Certification of a passport can be made by a notary, an attorney-at-law, a bank, a public officer, or in accordance with SFM indications. Kindly consult your dedicated account manager at SFM to obtain precise information. of your passport, a certified copy of a second ID document (such as birth certificate / driver license / Identity Document), a certified copy of proof of domicile dated less than three months, 2 distinct professional letters*** and a bank reference letter dated less than three months, a curriculum vitae, as well as last 3 months' bank statement. All in original.**






Frequently Asked Questions

Company Formation in St Lucia

  • What type of company do you register in St Lucia?

    The type of companies that we form in St Lucia is known as an International Business Company (IBC).

    IBCs are now deemed resident companies and subject to the provisions of the Income Tax Act and therefore will not be restricted from doing business in St Lucia.
  • Is a St Lucia IBC tax liable?

    All St Lucia IBCs became tax residents as of 1st July 2021. This means that those IBCs which were tax-exempt before that date are now required to register for a Tax Account Number.

    An exemption exists for foreign-sourced income provided the IBC qualifies by meeting the economic substance requirements. Foreign sourced income is taxed at 30% and domestic sourced income is exempt.

    While the company might be subject to local tax regulations in St Lucia, please consult with a tax/legal advisor in your country of residence, to determine your own tax liability.
  • Will my name be public once I setup a St Lucia IBC?

    No, there is no public register of company officers in St Lucia.
  • How many directors and shareholders should I appoint on my St Lucia IBC?

    A minimum of 1 director and 1 shareholder should be appointed to setup a St Lucia International Business Company (IBC).
  •  
  • Do I need to submit accounting records for my IBC company in St Lucia?

    By no later than 3 months after the financial year-end of the company, the following are required:
    1. An IBC is to submit an unaudited financial statement (UFS), to us and the registered agent, failing which the government will apply a penalty and the same will accrue until submission.
    2. The company’s annual tax return is to be submitted to the St. Lucia Inland Revenue Department (IRD). The UFS is to be attached.
    3. The Economic Substance Return is to be submitted (currently to us for onward transmission to the IRD, but in time it will be directed to the IRD.)
  • Do I need to be a resident to form an IBC in St Lucia?

    There are no requirements to appoint a St Lucia resident in the company acting as director/shareholder.
  • Do I need to deposit the paid-up capital for a St Lucia IBC?

    No, there is no paid up capital requirement. The standard share capital is USD 50,000 but can be amended to fit your requirements.
  • Are bearer shares allowed in St Lucia?

    No, bearer shares are not allowed in St Lucia and tend to disappear from most jurisdictions.

St Lucia Jurisdiction News


* Subject to the constraints of the due diligence procedure.
** Documents must be provided for every person related to the company.
*** E.g. A lawyer/law firm + practicing accountant/accounting firm may issue 2 separate letterset
Disclaimer: 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.

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