Below are some of the reasons why we regard St. Vincent as the pre-eminent offshore jurisdiction:
Safe and secure International Business Center for over 20 years
No tax treaties with the US or European countries
Uses the Common Law
First jurisdiction in the world to publish all application and renewal forms for offshore entities in Government regulations.
First jurisdiction in the world with an international law that allows multiple classes and sizes of companies to be registered.
First jurisdiction in the world to enact a mutual funds law with comprehensive exemptions for small closely held funds.
First jurisdiction in the world to allow fast preliminary approvals and long term registration renewals for banks, insurance companies and mutual funds.
The following advantages have been given by the current Director of the International Financial Services Authority in St. Vincent:
The lowest government fees of any offshore jurisdiction
Zero taxation of international entities
Old established banking history and culture
Joint supervision/regulation of international banks by the International Financial Services Authority (IFSA) and the Eastern Caribbean Central Bank (ECCB)
Home of the Mustique Company - oldest, most successful private investment project in the Caribbean
An independent supervisory Authority
Excellent professional services
A stable, secure and well regulated operational environment
Culture of Anti Money Laundering (AML) Compliance
Absence of major financial scandals in the sector
Absence of a reputation for having "capitulated" to the Financial Action Task Force (FATF)/international organizations
Bearer Shares are provided by this jurisdiction. Some jurisdictions eliminated bearer shares, oblivious to the fact that many European countries still offer them
Strong position on the OECD harmful tax initiative
Unlike some Eastern Caribbean islands which emerged from blacklisting with zero or just one international bank, St. Vincent & the Grenadines emerged as a viable international banking center with some ten banks remaining when the jurisdiction was de-listed. |
