Located in the Caribbean, St. Lucia is an ideal destination to expand your business globally. With myriad tax exemptions and a friendly environment, you can trade with any country across the globe. Moreover, the country’s robust logistical framework ensures no obstacle along the way.
Are you ready to begin your journey with a St. Lucia offshore company? Then, this guide walks you through the process of business registration in St. Lucia.
Steps for Registering a Business in St. Lucia
Registering a St. Lucia offshore company is easy. All you have to do is follow the steps below and begin business registration in St. Lucia. Let’s dive deep:
Consult an Expert
Navigating the guide for St. Lucia company formation can be cumbersome for any new business owners. Appointing and consulting an expert saves you the hassle of maneuvering the legal and regulatory requirements alone. They typically take care of the formaltiies and solve any hurdles on time.
Choose a Business Name
At times, the names we want to choose are already taken. To combat such scenarios, you must conduct a business name search. You must ensure that the name is unique and not misleading. Before finalising the name, you must ensure that it is available for registration and conveys a clear idea of your services. Moreover, the chosen names must not be offensive or contain inappropriate meanings.
Choose a Company Structure
Once you have finalized the name for your firm, choose a company structure that best suits your requirements. You choose from the following structure for business registration in St Lucia:
International Business Company (IBC): It is the most popular structure for St. Lucia offshore company formation. As an IBC cannot trade domestically, it can seamlessly trade internationally without any hassle. Moreover, an IBC in St. Lucia enjoys numerous tax exemptions, such as no tax on income derived from abroad.
Limited Liability Company (LLC): A limited liability company is another popular structure for offshore business formation. You can access pass-through taxation through an LLC. Meaning, you can choose to be taxed as a corporation or a partnership.
Fill Out the Application Form
Once you have decided on the suitable company structure, you must fill out the application form with accurate details. A typical form for business registration in St. Lucia requires you to fill in the company name, address, details about directors and shareholders, and more.
Submit Documents
You must submit the following documents to register a business in St. Lucia successfully.
- A notarized copy of a valid passport (of each Director and Shareholder of the company)
- Notarised copy of proof of address (ex., utility bill of each Director and Shareholder)
- Bank reference (of each Director and Shareholder)
- Legal recommendation (of each Shareholder and Director)
Once the preliminary paperwork has been filed, we will need documents affirming:
- The proposed name of the forming company, and
- The share capital and the par-value (or non-par-value) of shares
Make Payment
Once you have filled out the form and submitted the documents, make the required payments.
Open an Offshore Bank Account
Once you receive approval of successful business registration in St. Lucia, you can also apply to open an international bank account. It is often advisable, as it ensures seamless cross-border transactions.
A St. Lucia offshore company can help you create strong foundations to expand your business globally. With a friendly environment and numerous tax exemptions, the country provides a strong scope to grow your business. However, navigating the legal framework can be tough. Thus, it is advisable to appoint an offshore business consultant to begin your St. Lucia company formation.
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