Company formation in St. Lucia can be completed as onshore and offshore incorporation, depending on the business plans foreign investors have. For those who opt for offshore company setup, there is the possibility of registering an International Business Company (IBC), an entity designed for the needs of offshore businesses.
Regardless of the type of incorporation investors want to complete, our consultants can provide reliable St. Lucia company formation services and ongoing assistance during the financial year (accounting, reporting, payment of fees, etc.).
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Why select St. Lucia for starting a business?
Depending on the type of incorporation, St. Lucia can provide a set of competitive advantages to foreign investors. For instance, those who will opt for offshore company formation can benefit from the following:
- corporate taxes exemptions (IBCs benefit from 0% corporate tax on their foreign sourced income, 0% capital gains, 0% withholding tax on dividends);
- the procedures for company incorporation in St. Lucia can be completed in a matter of days;
- minimum disclosure policies available for foreign investors;
- low annual government fees;
- investors can appoint nominee directors.
Register a trade name in St. Lucia
One of the first requirements imposed to local and foreign investors (natural persons and legal entities alike) who open a company in St. Lucia is to reserve and register a suitable trade name for their company (the requirement applies for both onshore and offshore companies).
In the list below, our consultants present the main requirements imposed by the St. Lucia Government concerning trade names:
- in order to register a trade name, it is necessary to pay a fee of EC$125;
- investors representing corporate structures (meaning, the shareholders are other companies) must complete and submit Form 3 – Business Registration Form (Application for Registration by a Corporation);
- along with it, investors must submit a notarized Statutory Declaration Form (Form 11) and an Approved Business Search Name Form;
- besides the registration fee, a stamp worth of EC$2.5 must be submitted with the application.
Please know that investors can open a company in St. Lucia only by registering trading names that are accepted under the local law. For specific names, which include certain words, prior approval will be required, otherwise the company will not be able to start its operations.
For instance, companies will need approval for trade names containing words such as “bank”, “building society”, “assurance”, “chartered” – the approval must be obtained from the Financial Services Commission. Our consultants can further advise on what other words can’t be included in a trade name.
What other steps should be taken in order to set up a company in St. Lucia?
St. Lucia company formation implies certain mandatory registration steps. For instance, the shareholders must draw and sign the company’s statutory documentation, through which the legal entity of choice gains legal recognition. The document contains information on the company’s shareholding structure (number of shareholders, shares issued), capital, business activity, directors, etc.
Concerning shareholders, we mention that it is possible to open a company in St. Lucia as a single shareholder, who can be a local or a foreigner (non-resident included). Another registration requirement is to assign a registered address for the newly formed business (our consultants can assist in securing a business address).
Our team will support investors in completing the process of St. Lucia company formation for onshore and offshore businesses, therefore you can rely on us for full legal representation. You can also contact our team if you want to open an offshore bank account. We can complete any bank formalities in your name, if you grant us the power of attorney.