St Vincent & the GrenadinesCompany formation, tax and banking
Cheap international companies and a well-known yacht register in the Grenadines.
St Vincent company formation at a glance
Setting up a company in St Vincent & the Grenadines usually takes 3 to 7 days and costs about USD 1,000 to 1,800, with yearly renewal in a similar range. International business companies pay no tax on foreign income. Plan to bank somewhere else: local accounts for companies owned from abroad are hard to get, so most bank in Mauritius, Switzerland or the UAE, or through a payment firm.
St Vincent & the Grenadines offers cheap international business companies, LLCs and trusts, plus a long-established yacht and ship register serving the Caribbean charter market. Setting up is fast and yearly costs are among the lowest anywhere.
Its financial sector deliberately stopped licensing forex and securities firms after reforms in 2023, which improved its reputation. Treat it as a low-cost place to set up a company, with banking somewhere else.
Why people choose St Vincent & the Grenadines
- Set up in 3 to 7 days for about USD 1,000 to 1,800
- Yearly costs well below the BVI and Cayman
- International business companies pay no tax on foreign income
- A long-established yacht register for Caribbean charter work
- Forex licences stopped in 2023, which improved its reputation
Where St Vincent & the Grenadines fits
- IBCs
- Yacht registration
- Trading vehicles
Where St Vincent & the Grenadines fits in a structure
Typical role · Low-cost holding or trading company
A St Vincent IBC is a cheap company you hold assets or trade through, with no tax on foreign income and low yearly costs. Its well-known register is also used for yachts doing Caribbean charter work. It relies on a bank account elsewhere, because local accounts for companies owned from abroad are hard to get.
What it depends onLine up the bank in Mauritius, Switzerland, the UAE or a payment firm before you form the company, and remember where you live still decides the tax on what you take out.
A simplified picture to explain the idea, not a recommendation. General information, not tax or legal advice.
Opening a bank account
Bank of St Vincent and the Grenadines and CIBC FirstCaribbean serve local needs. International structures bank in Mauritius, Switzerland or the UAE, or through payment firms. Local accounts for international companies owned from abroad are hard to get.
How tax works here
International business companies pay no tax on foreign income. Local company tax is 28% on local income. No capital gains tax and no inheritance tax. Yearly government fees for international companies are low compared with the BVI or Cayman.
Real presence, and who can see the owners
Substance rules apply to certain activities. The real owners are filed privately with the registered agent and the FSA (the regulator). Stopping forex broker licences in 2023 removed the sector that did most damage to its reputation.
When to choose it
Choose St Vincent for a cheap holding or trading company, or to register a yacht under a Caribbean-friendly flag with simple charter arrangements.
You get a written comparison, not a sales pitch.
Every St Vincent & the Grenadines recommendation comes as a written comparison with the alternatives — whether the setup will stand up to scrutiny, how easy banking will be, which tax treaties apply, who can see the owners, what it costs to run each year and the risk to your reputation — so you can see the trade-offs before you commit.
Considering St Vincent & the Grenadines? Get a written comparison first.
Answer six questions and our team will come back with a shortlist, rough costs and where you could bank.
Questions we hear on every St Vincent & the Grenadines intake.
- Can SVG companies still hold forex licences?
- No. The FSA stopped issuing and recognising forex broker licences in 2023; existing firms had to get regulated somewhere else.
- How much does an SVG company cost?
- Setting one up usually costs USD 1,000–1,800, with yearly renewal in a similar range — well below the BVI and Cayman.
- Is SVG good for yacht registration?
- Yes, for Caribbean charter work. For superyachts and cruising in the EU, the Isle of Man, Malta or Cayman registers are usually better.
- Where do St Vincent companies usually bank?
- Usually outside St Vincent. The Bank of St Vincent and the Grenadines and CIBC FirstCaribbean mainly serve local needs, and local accounts for international companies owned from abroad are hard to get. Most bank in Mauritius, Switzerland or the UAE, or through a payment firm, so we line the bank up before the company is formed.
What we typically deliver in St Vincent & the Grenadines
Offshore & Onshore Company Formation
We set up companies in the BVI, Cayman, the UAE, Singapore, the UK, Delaware and 55 more places — ready for a bank account, with proof that the company is genuinely run where it's registered.
StructuresYacht & Aircraft Registration
Choose the flag, register and ownership setup for your yacht or private jet.
BankingInternational Banking
Personal introductions to 25+ private and business banks that are actively taking clients — UK, EU, Gulf, Asia, Caribbean, US.
StructuresTrusts & Foundations
Trusts that protect and pass on family wealth, in every common form, plus Panama and Nevis foundations.
More Caribbean jurisdictions & related insights
Every engagement begins with a twenty-minute advisory call. The fee is in writing before any work begins. No hourly billing.