International Business Company

General

The incorporation of an International Business Company (IBC) can be performed using St. Lucia's online registry from anywhere in the world wherever Internet access is available. Standard Articles and Memorandum of Association (modelled on BVI) can be seen and edited online and incorporated by the Registered Agent.

Due Diligence

The International Business Companies Act requires the registered agent to perform due diligence on the beneficial shareholders and directors of an IBC. In order to incorporate an IBC, certified copies of passports, and references
from bankers, lawyers and accountants for the beneficial shareholders and directors are required.

Income Tax

IBC's are exempt from income tax. However an election may be made to pay 1% tax which would make the company resident for tax purposes in order to take advantage of the Caricom Tax Treaty.

Dividends & Interest

Dividends and interest received by and paid by an IBC are exempt from income and withholding tax. Dividends are tax free in St. Lucia.

Other Taxes

An IBC is exempt from withholding tax, capital gains tax, stamp duty and any provisions of the Income Tax Act of 1989 except if the company elects to pay tax at the rate of 1%.

Exchange Controls

St. Lucia does not have any exchange controls for an International Business Company.

Confidentiality

Information obtained for performance of due diligence including the names of the beneficial shareholders and directors is confidential and only remains on the file of the registered agent.

Audit Requirements

An IBC is only required to have an annual audit if it elects to pay tax or if it is an International Bank, International Insurance Company or Mutual Fund.