St. Vincent and the Grenadines
yacth registration
 St.
Vincent and the Grenadines is an independent English speaking
nation, a stable democracy located in the Eastern Caribbean. The
legal system is based on the English Common Law. English is the
official language. The population of the three islands is
approximately 110,000.
In 1996 there were comprehensive legislative changes to its IBC
Act, bringing St. Vincent to the forefront of the world's offshore
financial centers as one of the safest and most private
jurisdictions. These legislative changes concentrated on two
specific policies in St. Vincent's approach to offshore financial
law: ultimate privacy and maximum asset protection. These policies
are also reinforced in the new offshore finance laws proclaimed in
1997 and 1998.
IBC's incorporated in St. Vincent are completely free of all taxes
for a period of 25 years. You can conduct your business tax free for
25 years even if managing it from within St. Vincent.
There is no requirement to disclose the beneficial owner of the
IBC and bearer shares are allowed. There are no exchange controls.
International banks have their branches here.
St. Vincent is an independent sovereign nation and will therefore
not be affected by the impending UK/EU legislation impacting the
British Dependant Territories, the Isle of Man and the Channel
Islands.
The Confidential Relationships Preservation (International
Finance) Act, 1996 is a further expression of the privacy theme of
the new legislative policy. This law elevates the protection of
professional confidential relationships and information to a matter
of state "public policy".
The Government has reaffirmed that the right to privacy in
financial affairs is a basic right of offshore companies and
financial institutions in St. Vincent and that it will not help
other governments collect their taxes, directly or under the guise
of investigations or prosecutions of other purported offences.
The International Business Companies Act, 1996 contains provisions
assuring that the privacy of persons will be protected. These
provisions reduce the amount of information to be contained in
government registers and curtails the right of the public to inspect
the registers.
Political structure
St. Vincent and the Grenadines became independent on 27 October,
1979. The system of government is a parliamentary democracy in the
UK fashion.
St. Vincent and the Grenadines is a member of the British
Commonwealth with a Governor General appointed by Queen Elizabeth II
of the UK. There is universal suffrage for all persons 18 years of
age and over. The Prime Minister is the leader of the governing
party and, together with his cabinet, forms the executive branch of
the government.
The legislative branch is the House of Assembly consisting of 21
seats; 15 elected representatives and 6 appointed senators. Members
are elected by popular vote to serve five year terms.
St. Vincent and the Grenadines is a member of the British
Commonwealth, the United Nations, Caricom and other international
organizations.
Confidentiality Act
The Confidentiality Act adopted in 1996 affords true privacy for
businesses and their owners. To make this perfectly clear the
"Confidential Relationships Preservation (International Finance)
Act, 1996 specifically says "The Court hearing an application for
directions under this section shall not allow the giving in evidence
of confidential information in connection with the enforcement or
prosecution, of the civil or criminal revenue or tax laws of another
state, territory or other political jurisdiction".
Banking confidentiality is enforced by law. No information on the
company or its owners is public. Director may choose not to register
their personal details. Bearer shares are allowed.
Double taxation treaties
St. Vincent & Grenadines do not have double taxation treaties
with other countries. This means that St. Vincent & Grenadines tax
authorities do not cooperate with other countries tax authorities and
confidential information regarding your business activities can not and
will not be disclosed.
Accounting and capital
There is no requirement for books or audited reports to be
presented to any authority. Company capital can be declared with in wide
range. Capital is not required to be paid in.
Cost
Our incorporation package includes: Incorporation of
International Business Companies (IBCs), Government Fees, First Year
Annual Fees, Registered Agent/Office, Nominee Directors & Shareholders,
Apostles, Certificate of Good Standing, courier delivery.
All
inclusive...........................................................................................................................$
1,699
Second and subsequent years
fees.......................................................................................$
650
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- GENERAL -
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Type of Company
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Political Stability
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Goodt
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Common or Civil Law
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Commonspan
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Disclosure of Beneficial Owner
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No
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Migration of Domicile Permittedd
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Yes
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Tax on Offshore Profitss
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No
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Language
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English
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Time schedule
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3-5 business days
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CORPORATE REQUIREMENTS
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Minimum Number of Shareholders
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One
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Minimum Number of Directors
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One
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Bearer Shares Allowed
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Yes
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Corporate Directors Permitted
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Yes
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Company Secretary Required
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Yes
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YACHT REGISTRATION
The registration of vessels under the flag of St. Vincent and the
Grenadines is governed by the Merchant Shipping Act, 1982, as
amended, and the Wreck and Salvage Act. Kingstown, St. Vincent and
the Grenadines, is the home port.
Ownership requirements - A ship may be registered if it is owned by:
Any individual who is a citizen of St. Vincent domiciled in St.
Vincent or not,
Any body corporate, partnership or other association of individuals
registered in accordance with the laws of St. Vincent and the
Grenadines and having their main office in St. Vincent or,
Any body corporate, partnership or other association of individuals
registered according to law in any foreign country, provided that,
when the main office is situated outside St. Vincent, a Registered
Agent in St. Vincent is appointed
Procedure for the registration of yachts
Provisional registration Certificate and Provisional Radio License:
Application for Registration;
Good Standing Certificate of the owning company;
Certificate of General Inspection issued by a Classification
Society/confirmation of class (if applicable);
Permission for Transfer or Transcript of Register and/or
Non-Encumbrance Certificate or Deletion Certificate from the present
registry;
International Tonnage Certificate, 1969 for yachts over 24m length;
Proof of ownership or copy of notarized Bill of Sale or copy of
Purchase Contract;
Accounting Authority Identification Code (A.A.I.C.) and confirmation
from the Accounting Authority that they are settling the Radio
Traffic Accounts;
Payment of registration and annual fees.
Permanent Registration
Certificate of Deletion from previous Registry (original or
certified copy);
Payment of Annual Tax and other fees eventually due.
NOTE:
The Certificate of Registry will be renewed yearly upon settlement
of the Annual tax.
Radio License
Original Radio Installations Survey Report filled in and stamped by
Classification Surveyor (submitted with provisional registration
documents).
Registration of Mortgage
a. Mortgage Deed containing the date and amount of Mortgage,
discharge amount and date of maturity, signed by the Mortgagor and
Mortgaged and legalized by a Notary Public, an Affidavit of Good
Faith is requested
b. Payment of mortgage registration fee
of....................................................$ 500.00
Registration
fee..........................................................................................$
600.00
Annual
Tax.................................................................................................$
260.00
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