Eternity Law International — News — Company registration in St. Lucia

Company registration in St. Lucia

Published:
December 22, 2020

Saint Lucia is one of the most beautiful islands in the Caribbean. But this territory is attractive for businessmen not only for this reason. Saint Lucia offers a fairly loyal base for the development of foreign business, which becomes the reason for the active interest of foreign entrepreneurs in it. In addition, in this jurisdiction it is possible to create an offshore company operating in the insurance sector, which is in every possible way favored by the island’s authorities.

Requirements for a company registered in Saint Lucia

  • The company is not required to involve a secretary.
  • There are no requirements for the initial size of the firm’s capital. It is recommended to form a start-up capital of 50 thousand dollars. However, this amount can be adjusted according to the specific business structure.
  • Bearer shares are not permitted.
  • The register of Saint Lucia is open – it contains all information about the owners and holders of the company’s shares, however, the data is not subject to disclosure. The company must publish only the Statute and the Memorandum of Association.

Taxation in Saint Lucia

In accordance with the Law governing the activities of international companies, tax privileges may be available to some companies. In general, a firm registered in Saint Lucia can pay:

  • corporate duty at a rate of 1%;
  • license fee, which is charged annually (the amount of such a fee is determined by the amount of the company’s start-up capital). This option assumes no obligation to audit and provide financial statements annually;
  • annual tax to the state treasury. It is fixed at $ 300.

An organization in Saint Lucia is exempted from paying tax on capital gains.

Since Saint Lucia is an offshore company, a company operating outside the island and receiving income from outside does not pay taxes. Profits earned outside Saint Lucia are:

  • income that an organization established on the island receives from a company registered in another state;
  • profits from real estate outside Saint Lucia;
  • income from deposits in securities that were issued by a non-resident of the island;
  • royalties of foreign companies;
  • any profit derived from a source outside Saint Lucia.

Saint Lucia has also signed agreements to avoid double taxation.

If you need to register a company in St. Lucia, our specialists will help you register a company quickly and efficiently. Also, you can buy a ready-made company in St. Lucia. Write to us in the CRM form and we will help you register a company.

Eternity Law International specialists will provide you with qualified advice on the acquisition of an offshore company, opening a bank account in any jurisdiction, as well as further support of your company’s activities at any stage.

We offer ready-made European and offshore companies. It takes 2 days to reissue documents for new owners.

If you have any questions or need advice on registering or buying a company, call us at the phone numbers listed on the website, or write to us in the CRM form located at the bottom of the page. Our specialists will answer you online.

Saint Lucia, a stunning Caribbean island, is not just a paradise for tourists but also a haven for business ventures. Entrepreneurs from around the world are drawn to its favourable business opportunities, especially due to the country’s supportive supervisory pattern for overseas firms. Setting up an organisation in this region, whether an offshore firm or otherwise, is a straightforward process, with transparent  organisation setting up prices and flexible maintenance demands.

Cost of Organisation Establishment

The cost of company registration in St. Lucia is relatively affordable compared to other Caribbean jurisdictions. While there are no mandatory minor equity demands, this figure can be tailored contingent upon the nature of the firm. Bearer shares, which are prohibited in some jurisdictions, are also not permitted here, reflecting the island’s commitment to regulatory transparency.

When discussing company registration prices in St. Lucia, the initial outlay depends on the kind of profit- oriented functioning being established. For example, an offshore company in the insurance sector enjoys particular advantages due to governmental support, making it an attractive option for overseas venturers. The firm ought to cope with regional supervisions by publishing the Statute and the Memorandum of Association, but other insights about stakeholders remain private and undisclosed to the public.

For commercial proprietors curious about how much it costs to register a company in St. Lucia, there is an organisation fee applicable to most firms. This rate is competitive when compared to other jurisdictions. Additionally, the business registration cost in St. Lucia also includes a licence fee, which is charged annually. The amount varies based on the company’s capital, meaning larger corporations might be incurred higher levies.

Cost of Organisation Retainment

After the preliminary setup, the company maintenance fees in St. Lucia are equally important to figure out. Mentioned above continuous levies are typically related to supervisory obedience, annual taxes, and administrative upkeep. For instance, organisations are demanded to pay an annual fee for company maintenance in St. Lucia. This fee contributes to maintaining the company’s legal standing in the state.

One of the significant benefits of operating a profit-oriented function in this region is the tax exemptions available for offshore firms. Profits earned outside the island are generally exempted from paying tax. This includes income derived from foreign investments, such as securities, royalties, or real estate located outside the island. As a result, companies that operate internationally can enjoy substantial tax savings.

Furthermore, St. Lucia has signed several agreements to avoid double tariffication, guaranteeing that firms would not purchase charges twice on the same revenue. For commercials functioning on a global scale, this provides added monetary relief and simplifies overseas transferring operations.

When comparing company registration and maintenance fees in St. Lucia with other states, it becomes evident that the island offers competitive pricing for both submission and continuous retainment. The organisation submission and retainment charges reveal that the island’s low corporate duty rate and flexible equity demands make it an attractive option for cost-conscious venturers.

Additional Expenses for Organisation Setting up and Retainment

Beyond the basic prices for company formation in St. Lucia, there are additional costs that commercial proprietors should account for. These may include lawful consultation, document preparation, and obedience facilities. While these costs are not unique for this region, they do contribute to the overall expenses of retaining a lawful and operational commercial activity presence in the region.

It is also essential to factor in the costs associated with setting up a corporate monetary institution account, especially if operating internationally. While many businesses choose to open monetary institution accounts in other jurisdictions, establishing a local account may offer advantages, such as ease of financial transactions and obedience with regional supervisions.

For those interested in purchasing a pre-established profit-oriented functioning, there are also company registration fees comparison in St. Lucia for ready-made firms. As usual, reissuing papers for a new owner takes around two days, and this facility is relatively inexpensive compared to starting from scratch. Pre-established firms can provide an immediate operational presence, which can be a huge advantage for venturers searching to enter the market quickly.

Conclusion

In conclusion, this region presents a highly favourable environment for both the raising and retainment of commercial activity. The profit-oriented activity raising in this region remains competitive, with flexible equity demands and clear submission routine. Additionally, the island’s beneficial charge pattern and minimal prices for organisation raising and retainment make it an ideal location for entrepreneurs seeking to establish or expand their profit-oriented operations.

Whether you’re searching to register a new firm or purchase a ready-made one, understanding the full range of costs is vital for prolonged success. From annual taxes to additional obedience costs, venturers can anticipate predictable expenses and enjoy the numerous benefits.

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