Sep 23 2011
Open up a company – IBC in St. Vincent and the Grenadines I.
I. THE INTERNATIONAL BUSINESS COMPANY (IBC)
Definition
Under the laws of St. Vincent and the Grenadines, an International Business Company is a company which is registered in St. Vincent but is not subject to any local taxes and does not regularly transact business with persons resident.
Currently an IBC cannot own real property in St. Vincent and the Grenadines but an amendment to the law in early 2008 is expected to change this.
Uses:
An IBC is a very flexible entity which can be used for almost every conceivable business purpose. Some of the most popular uses for an IBC are as:
A Trading Company
• Exporting intermediary
• Importing intermediary
• International trading and investment
• Re-invoicing intermediary
An Holding Company
• Parent Company / owning subsidiaries
A Property Holding Company
• Ownership of intellectual property such as patents
• Ownership of investments
• Ownership of real property
• Ownership of shares in other companies
• Ownership of ships or vessels which can be registered in St. Vincent
A Consultancy Company
• Provision of professional and consultancy services to others
Other uses include:
• Licensing and franchising
• Offshore e-business / internet company
• The employment of staff working on overseas assignments