ST Vincent registration agent, looking

[marisskults]

Hello!
Looking for incorporate St Vincent offshore, will be nice to receive some good price agent who can register company there, thanks a lot!

 

[Sols]

Why? SVG has scrapped its IBC regime. No more offshore/tax free companies there.

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This is the probably the answer to your question.

 

[lavel]

Sols said:
Why? SVG has scrapped its IBC regime. No more offshore/tax free companies there.
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Do you say it's not possible to register a company there any longer?

 

[marisskults]

Yes i understaund, but need corporate agent for normal money, thanks!

 

[Sols]

lavel said:
Do you say it's not possible to register a company there any longer?
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You can incorporate all you want, but they scrapped the IBC regime January 2019. 30% corporate tax on worldwide income.

http://svgfsa.com/library-publications/
See the "International Business Companies (Amendment) Act 2018 - NEW" and compare it to the IBC act.

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This is the probably the answer to your question.

 

[Offshorecash]

Sols said:
You can incorporate all you want, but they scrapped the IBC regime January 2019. 30% corporate tax on worldwide income.

http://svgfsa.com/library-publications/
See the "International Business Companies (Amendment) Act 2018 - NEW" and compare it to the IBC act.
Click to expand...

This is actually not entirely true. I just went through the process and the workaround is register an llc in st Vincent which is fully tax exempt and accomplishes the same result as the old IBC structure FYI.

 

[Sols]

LLC is not the same as an IBC.

LLCs are pass-through entities which are not subject to tax at all. IBCs are taxable entities but the tax rate usually happens to be 0%. There is a difference between nothing and zero.

It's a small detail but it can make a big difference, depending on where you live, how the company operates and is set up, and how you pay yourself.

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This is the probably the answer to your question.

 

[karishi]

I have an IBC which was incorporated in 2017, does the changes affect my company too?

 

[hernanday]

Sols said:
LLC is not the same as an IBC.

LLCs are pass-through entities which are not subject to tax at all. IBCs are taxable entities but the tax rate usually happens to be 0%. There is a difference between nothing and zero.

It's a small detail but it can make a big difference, depending on where you live, how the company operates and is set up, and how you pay yourself.
Click to expand...

What do these changes mean practically speaking though?