For the longest time entrepreneurs wanting to set up Forex etc broker businesses without the risk of regulatory arbitrage looked to the Caribbean Island state of St Vincent & the Grenadine (“SVG”) as their preferred incorporation centre.
But with the SVG having declared Forex Broker business as a prohibited activity we are regularly asked “Where can I set up a Forex Brokerage Business Offshore without having to apply for a Special License”.
The answer is the shimmering island jewel of St Lucia!
The St Lucia FSA boldly advertise that “Forex trading activities are not licensed in St Lucia”. As such there is no reason at Law for why a St Lucia Company could not be deployed to own/operate a Forex Brokerage Business.
History
St Lucia is a peaceful idyllic tropical island state in the Caribbean Sea south of Barbados with a population of 180,000. Its primary Industries are Tourism Financial Services and Agriculture.
Following the arrival of Europeans in the 1600s multiple battles for ownership/control over the island were fought between the French and the English before British sovereignty finally prevailed in the late 18th century. St Lucia achieved independence from Great Britain in 1979 but retains the English/Westminster system of law and governance.
St Lucia offers an International Business Company (“IBC”) product which can be deployed to own and operate an (unlicensed) Forex Broker business.
Key features of the St Lucia IBC Legislation include:
• Ownership information is not publicly accessible
• Directors details are not publicly accessible
• Directors details are not publicly accessible
• Disclosure is only possible to specified authorities in accordance with specific legislation.
• There is no Local director requirement for local directors
• Meetings of directors can be held anywhere.
• Shares can be issued without par value.
• No requirement to file Annual/Tax returns with the St Lucia Govt
• Well established network of locally licensed “Offshore” Banks
• Accounts do not have to be audited
AND, since 2021, St Lucia has declared it has a Territorial Tax system meaning Corporate/Trading income sourced from outside of St Lucia should not be taxable in St Lucia.
At OCI we believe in giving you more for your money than would the average IBC formation service. Hence included in the incorporation package for your Samoan Company is the following:
Services:
• Unlimited name availability inquiries
• Advice from an experienced International Corporate Lawyer on how to structure your company
• Preparation (overseen by a lawyer) of application to incorporate the company
• Preparation (overseen by a lawyer) of the company’s memorandum of association
• Preparation (overseen by a lawyer) of the company’s articles of association
• Attending to filing incorporation request with the company registry
• Attending to payment of government filing fees
• One year’s Registered Agent service in the country of incorporation
• One year’s Registered Office service in the country of incorporation
• Mailing address in the country of incorporation
• Delivery of Incorp pack by international courier (ie DHL/Fedex/TNT etc)
• Unlimited free legal consultations for 12 months
Documents included in your Incorp pack:
• Certificate of incorporation
• 2 sealed/stamped copies of the company’s Memorandum of Association
• 2 sealed/stamped copies of the company’s Articles of Association
• Resolution appointing first director/s
• Resolution appointing first shareholder/s
• Up to 5 share certificates
• Resolution to open a bank account
• Resolution to rent an office
• Resolution/s to engage a Phone, Internet & Website service provider
• Resolution to hire a staff member/s
• Resolution to appoint a company lawyer
• Resolution to appoint a company accountant
• Resolution appointing you as the company’s authorised representative in commercial negotiations
• Resolution issuing a Power of Attorney in your favour
• Agreement authorising you to represent the company in commercial negotiations
• Power of attorney authorising you to sign documents on behalf of the company
• Register of directors
• Register of shareholders
• Expression of wishes (ie an “Offshore” Will)
• Lawyer authored User Guide (“How to Use Your Offshore Company”)
Price (all inclusive): $US 1,400
With tax effective offshore company management (ie including Professional Corporate “Nominee” Director, Shareholder & Company Secretary): + $800
From 2nd year $US $US1,350 (+ nominees if required)
Would you like to know more? Then please Contact Us:
info@offshorecompaniesinternational.com
DISCLAIMER: OCI is a Company/Trust/LLC/LP/Foundation Formation Agency. We are not tax advisers or legal advisers. You are advised to seek local legal/tax/financial advice in regards to your local reporting/tax requirements before committing to set up or use an Offshore Company or other entity.
