Page 131 - Caribbean-Central America Profile 2018

ST VINCENT & THE GRENADINES

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

Official Name: Saint Vincent and the Grenadines
St. Vincent
Capital: Kingstown
Nationality: Saint Vincentian(s) or Vincentian(s)
Official Language: English, French patois
Population Total (millions): 0.11 (2016 est.)
ST. VINCENT & Size: 150 square miles
THE GRENADINES Currency: East Caribbean Dollar (XCD)
Internet Domain: .vc
The Grenadines
International Dialling Code: +1 784
Electricity: 220/240 volts/50 cycles

COUNTRY OVERVIEW INVESTMENT INCENTIVES
q St.Vincent and the Grenadines is Investors will benefit from the extensive range of investment incentives available as indicated by the
an archipelago of islands, situated following:
in the Eastern Caribbean at the • Complete or partial exemption from income tax on profits.
southern end of the Windward • Generous and flexible tax holidays.
Islands chain.
• Import tax concessions on raw material, machinery, equipment and spare parts.
q St. Vincent is the largest of the • Freedom to repatriate funds.
islands and the topography is
quite mountainous with an active • A low-cost operating centre–low fee structure.
volcano called La Soufriere. • An unhindered and stable foreign exchange regime.
q The smaller Grenadines comprises • Excellent Telecommunications.
of Bequia, Mustique, Canouan, • Stable labour relations.
Mayreau, Union Island, Palm • An independent and efficient judiciary system.
Island, Petit St. Vincent and a • A tradition of support for foreign private investment.
number of small islets.
• A one stop shop investor service and information centre.
q The capital is Kingstown in St
Vincent.
INTERNATIONAL FINANCIAL SERVICES
Investment opportunities exist in International Business Companies (IBCs), International Trusts,
St. Vincent and the Grenadines is International Banks, International Insurance Companies and Mutual Funds.
rapidly becoming a leading location for
foreign investment. The government Effective regulation of the International Financial Services sector is achieved under the guidance of
encourages foreign direct investment the International Financial Services Authority (IFSA) with assistance from, the Financial Intelligence
particularly in industries that create Unit and the National Anti Money Laundering Committee.
jobs and earn foreign currency. The The attractive incentives available are:
government is ensuring that the island
becomes a preferred investment • A low cost operating center with low fee structures.
location by pursuing investment in • Zero taxation including 25 years competitive tax exemption for IBCs.
niche markets, particularly: • Industry legislation that is practical and friendly.
• International Financial Services • Highly respected regulatory authority overseeing a regime that meets international standards.
• Information & Communication • Protection of Foreign Investments.
Technology
• Tourism • Foreign enterprises are generally allowed to repatriate all of their profits/earnings.
• Exemption from Taxation and Duties. This exemption extends to dividends, interest, or other
• Agro-business returns, and to the shares, securities or assets owned by a person who is not a resident.
• Light Manufacturing • Exemption from Exchange Control or Currency Control Legislation.
• Creative Industries

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