Company formation in Saint Lucia Overview
The island nation of Saint Lucia gained independence in 1979 and became a sovereign state of the British Commonwealth. Its main sources of income are tourism, agriculture (fruit growing), and foreign investment.
Today, Saint Lucia’s advantageous location plays a huge role for the country, as it is a member of CARICOM, which opens up the Central American market for business. It is also one of the 79 member countries of the OACPS, whose main idea is economic cooperation.
Time to register a company
1 to 7 business days
Average register a company timeline
Average capital
US$50,000
Average capital size
Tax rate
0%
Corporate tax rate
Since 1999, in order to attract investment from around the world, Saint Lucia has begun offering incentives for offshore businesses: no income tax and no capital gains tax. In addition, in strict compliance with the principles of confidentiality, international companies do not publicly disclose information about their shareholders and managers. The activities and registration process of foreign companies in Saint Lucia are regulated by the International Business Companies Act (IBC).
There are more than 30 banks operating in the island nation, 10 of which are members of the Caribbean Bankers Association, and 15 currencies can be used.
St. Lucia has concluded double taxation agreements with 11 countries (Jamaica, Dominica, Barbados) and 17 countries (the United Kingdom, France, Denmark) on the exchange of tax information.
Advantages of company registration in St. Lucia
High level of confidentiality.
Only the Articles of Association and Memorandum of Association are publicly available. Information about the director and beneficiary is not available for public viewing.
There is no income tax.
However, if income is earned within the territory, 30% must be paid.
Developed economy.
Many banks with a proven reputation in the international market. Opening an account is easy, as the official language is English.
There are no requirements for the amount of initial or advance capital.
There are no restrictions on the residency of founders and managers. The cost of registering a company in Saint Lucia is minimal.
No audit is required.
International commercial companies are only required to submit annual unaudited financial statements. There are no AML/KYC managers.
Fast registration, minimal requirements.
Mandatory requirements: one director and one founder.
Wide range of activities.
An international business company can conduct international activities in any organizational and legal form.
Annual shareholders’ meeting.
Can be held in different countries.
Access to international markets.
Numerous international agreements open up opportunities for cooperation with countries in the Pacific region and contribute to the development of banking systems.
Ready to Start Your Company in St. Lucia?
Our experts will accompany you at every stage of the opening process, ensuring its smoothness and efficiency.
Requirements for starting a business in St. Lucia
Directors and founders.
Mandatory requirements include one director and one shareholder, a secretary (no residency requirements, can be either a legal entity or an individual), and a registered agent.
Registered office.
The company must have a registered office, but a physical office is not required.
Company name.
It must be unique, not repeated by local companies, and contain the symbols Inc., Corp., Ltd., GmbH, or SA.
Initial capital.
There are no minimum capital requirements, but the average capital for an IBC is US$50,000.
Company documentation package.
Requirements for registering a company in Saint Lucia include a director appointment order, proof of office registration, articles of association, a declaration of majority by the owner, and documents proving the identity of the director and shareholders.
An international corporate company cannot own real estate in Saint Lucia.
The only exception is the company’s office.
License.
A license is required for banking, insurance, and trust activities.
Corporate information
| Ready-made companies are available for purchase. | Yes |
| Legal system | Based on English common law |
| Use of Cyrillic characters in company names | No |
| Local registered office required | Yes |
| Legal forms | International business company (IBC), limited liability company (LLC), corporation |
| BPA in the company name | Corporation (Corp.), Limited (Ltd.), Incorporated (Inc.) |
| Local registered agent required | Yes |
Company registration process in Saint Lucia
The process of registering companies in Saint Lucia and conducting international business is carried out in accordance with the provisions of the International Business Companies Act (IBC). Remote registration is available for offshore companies.
Selection of name options
Name requirements:
Company Registration
Requirements:
Registration with the tax office
The company must obtain a taxpayer identification number (TIN) from the Internal Revenue Department.
Registration with social services
It is also necessary to register withthe National Insurance Corporation so that the company is registered as an employer in the social security system.
Compliance
International commercial companies are required to file unaudited financial statements (UFS) with the Saint Lucia Revenue Authority (IRD). They must pay an annual government fee of US$300.
Taxation in St. Lucia
The Government of St. Lucia has introduced the following taxes for international corporations:
- Corporate tax – 0% if income is earned outside the country and 30% if earned within the jurisdiction.
Income earned outside St. Lucia consists of:
- income from a company registered in another jurisdiction;
- income from real estate located in another country;
- income from investments in securities (the issuer is not a resident of Saint Lucia) royalties from an international enterprise;
- income from sources outside the country to avoid double taxation.
- 12.5% VAT on profits earned within the country
- 1% on profits
- 0.4% commercial real estate
- 5% social insurance
- License fee
- $300 per year state duty
Taxation
| VAT | Yes (12.5%) |
| Basic corporate tax rate | 25 |
| Capital gains tax | No |
| Currency control | No |
| Detailed information on corporate tax rates | The standard corporate tax rate is 25%. Special rates may apply in certain sectors. |
| Stamp duty | No |
| Local registered agent required | Yes |
Ready to Start Your Company in Saint Lucia?
Our experts will accompany you at every stage of the opening process, ensuring its smoothness and efficiency.
Cost of registering a company in Saint Lucia
Government fees for commercial companies:
- $250 – standard registration of a legal entity;
- The cost of expedited registration must be clarified with the registrar.
- $50 – name reservation.
Annual fees for international business companies (IBC):
- $150 – penalty (if the annual fee has not been paid by January 15 of the following year).
- $400 – annual fee.
Shares and share capital
| Standard currency for shares | XCD/USD |
| Beneficiary information disclosed | No |
| Minimum issued capital | No restrictions |
| Bearer shares permitted | No |
| Authorized capital | US$50,000 |
| al capital payment terms | No restrictions |
| Nominal value of shares | US$100 |
| Possibility of issuing shares without par value | Yes |
Trademark registration
| Comprehensive TM training fee | US$100 |
| Trademark registration fee | $400 |
| Trademark registration certificate fee | US$500 |
| Additional registration fee per class | US$1,080 |
FAQ about a Company formation in Saint Lucia
How do I register a company in St. Lucia?
You need to collect the documents, pay the government fee, and submit an application to the registrar.
How much does it cost to register a company in St. Lucia?
The government fee is 850 East Caribbean dollars, but may vary depending on the type of company registered and the need to obtain a license.
How long does it take to register a company in St. Lucia?
Company registration can take about two weeks, provided that all requirements are met.
What does the IBC company name mean in St. Lucia?
The term IBC stands for “international business company.” An IBC is registered to conduct international business.
What is the tax rate in St. Lucia for an IBC?
Legal entities do not pay capital gains tax, dividends, or VAT if their source is outside the country.
Can a foreigner set up a business in St. Lucia?
Yes. The authorities of St. Lucia have created a favorable environment for foreign entrepreneurs and investors and do not restrict their ability to own businesses.
