The Saint Vincent IBC is under the following laws:
- International Business Companies Act, 2007
- International Business Companies Regulations, 2008
- Exchange of Information Bill, 2008
- Only one director or shareholder is required for the company formation.
- Shareholder(s) and director(s) may be the same person.
- The shareholder(s) and director(s) can be a natural person.
- There is no requirement of resident secretary.
All of the IBCs in Saint Vincent can have one or more persons or corporate directors and they can be of any nationality. Without the needs of any statutory meetings to be held you can have them all or do business activities not being in the country at distance.
The names of the director or the shareholders have to be in the society status but they're not will be published.
Saint Vincent has a tax free jurisdiction for the non-residents, you're business will not pay any type of taxes.
In Saint Vincent it is not necessary to register the names of the shareholders or the directors in the public records.
By law a Saint Vincent IBC should keep accounting records that are able to explain all the transactions of the company and will be enable to show the position of the company with reasonable accuracy. The books and records will not be show in the public records it should be kept at the registered office of the company.