St.Vincent Company Formation & Free Account with Euro Pacific BankCost-effective company, zero taxation, flexible structure & easy maintenance. Multi-currency corporate account & secure e-banking.
Facts & Info for St.Vincent Company Formation & Free Account with Euro Pacific Bank
Offshore Companies in St. Vincent and the Grenadines are governed by the International Business Companies Act, 1996 and their privacy is protected by the Confidential Relationships Preservation (International Finance) Act, 1996. The legislation is simple and straightforward, allowing a great deal of flexibility in the design of offshore corporate structures suiting the client\'s needs. In particular the Act allows the Articles to set out any provisions not expressly prohibited by the Act. Only a duly approved Registered Agent within the meaning of the new Registered Agent & Trustee Licensing Act (No.15), 1996, may submit applications for formations and undertake services set out in the Act.
St.Vincent & the Grenadines companies names must end with one of the following words Limited, Corporation, Incorporated, Société Anonyme or their abbreviations. A wide variety of other suffixes such as BV, GmbH, and SARL may also be used. The following names to be used, require licensing: Bank, Insurance, Assurance, Re-Insurance, Trust, Trustee, Savings, Royal, Asset management, Fund Management, Investment Fund, Building Society, Municipal, Chartered. Names denoting any connection to local, state or national Governments are generally prohibited. Incorporation under documents in foreign language is allowed provided translation is attached.
MEMORANDUM AND ARTICLES OF ASSOCIATION
A company is incorporated in St.Vincent & the Grenadines by application made to the Registrar of Companies. Memorandum and Articles of Association must be lodged with the Registrar. Memorandum specifies the activities in which the company may engage and Articles of Association specify the rules governing the internal management of the company.
A minimum of one shareholder is required which may be an individual or a corporate body. The details of company beneficial owners and shareholders are not part of the public records.
There is no specific minimum capital requirement. The standard authorized share capital is US$ 50,000. The minimum issued capital may be one share of no par value or one share of par value. Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights permitted. The International Business Companies (Amendment) Act No.26 and 44 of 2002 now allows for the registration and custody of bearer share certificates by the Registered Agent, who must also keep a record of each bearer certificate issued or deposited in its custody and the record shall contain pertinent information relating to the company issuing the shares, the ID number of the share certificate and identity of the beneficial owner.
The minimum number of directors is one, who may be a natural person or a body corporate. They may be of any nationality and need not be resident in the St.Vincent & the Grenadines. Details of the company directors are not part of the public record. This information is kept only at the offices of the Registered Agent in complete confidentiality.
REGISTERED OFFICE AND LOCAL AGENT/SECRETARY
Registered Office must be maintained in the St.Vincent & the Grenadines at the office of a licensed Registered Agent. St.Vincent & the Grenadines IBC does not need to appoint a company secretary, although it is customary to do so. The secretary may be a natural person or body corporate, be of any nationality and need not be resident in the St.Vincent & the Grenadines.
The directors and the shareholders meetings need not be held in St.Vincent & the Grenadines also there is no requirement for an Annual General Meeting. All meetings may be held outside St.Vincent & the Grenadines, by telephone or other electronic means. Alternatively, directors and shareholders may vote by proxy.
Usually it is 1 working day, but we need up to 10 working days for legalization of the documents and delivery by courier.
RECURRING AND MAINTENANCE FEE AS FROM 2ND YEAR - $799
- Provision of registered office and registered address
- Provision of company Secretary & registered agent
- Payment of annual government fee
ABOUT THE BANK
Euro Pacific Bank Ltd. is the parent company of Euro Pacific Intl., Euro Pacific Advisors Ltd., Global Trading Ltd., and Euro Pacific Funds SCC Ltd. The companies were formed in order to provide superior international banking services.
Euro Pacific Bank is licensed and regulated by the I.F.S.A in St.Vincent and the Grenadines as a Class A International Bank.
Euro Pacific Bank differentiates itself from other offshore banking alternatives by providing excellent client-focused service and support. Although the bank uses convenient cutting-edge online banking technology, they do not subject clients to a web of interactive phone menu systems and online help forms.
Euro Pacific Bank offers a wide range of banking solutions and innovative products, including gold and silver backed accounts and debit cards and brokerage platform.
WHAT EUROPACIFIC BANK OFFERS
- Personal and Corporate accounts
- Internet banking
- Phone banking
- Accounts in GBP, USD, EUR, CAD, AUD
- Debit & Prepaid Cards in EUR, USD, GBP
- Gold/Silver backed accounts available
- Brokerage Platform
- Multilingual customer support
- The approximate timeframe for account allocation is 3 to 5 days after the documents have been received by the bank.
REQUIREMENTS FOR CORPORATE ACCOUNT SET UP WITH EURO PACIFIC BANK
- Personal presence is not required
- No Minimum balance
- Minimum initial deposit USD 500
- The account will be activated within 3 - 5 business days, upon receipt by the bank of all duly completed forms and relevant information.
PLEASE NOTE: There is a list of restricted countries/regions/citizens/residents for account opening: USA, OFAC-listed countries, OECS (Organization of Eastern Caribbean States), New Zealand FSPs, all CIS countries (including Russia, Ukraine and Belarus), some African countries, Venezuela and Balkans countries.
BANK TARIFFS AND CHARGES
Euro Pacific Bank can be considered as a medium-cost bank with respect to incoming/outgoing payments and account maintenance. The bank charges for incoming payments can vary between USD 12- USD 75 depending on the amount of transfer. The outgoing payment fees vary between USD 22-USD 85 depending on the amount of transfer. The monthly account maintenance fee for a corporate account is USD 22.50. There is no charge for online banking access.
- PLEASE NOTE that bank tariffs may be changed anytime at the sole discretion of the bank, we therefore suggest to contact us or visit the bank’s website for updated details on specific fees and charges.
- STARTING BUSINESS professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit or minimum balance.
IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES
If you conduct any activity without required license or authorization granted by a relevant authority in any jurisdiction, STARTING BUSINESS will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.
Licensable activities include, but not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking business; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.
Please contact us if you need our assistance in licensing of your financial, Forex brokerage or gambling company.
St.Vincent & the Grenadines IBC is not subject to any tax or duty on income or profits. It is also exempt from stamp duties on transfer of property and any exchange controls. An IBC receives upon formation a Government Certificate of Exemption from taxes for 25 years from the date of incorporation.
AUDIT AND FINANCIAL RETURNS
Whilst there is no requirement to file audited accounts or annual returns with the authorities, a company is required to keep financial records, which should reflect the financial position of a company.