Offshore · Company formation

Company formation in Saint Lucia

Foreign founders wanting a low-cost, fast offshore holding or trading vehicle whose non-Saint Lucia income is exempt. They should be ready to accept heavy KYC checks and the well-known difficulty of opening bank accounts for the structure.

Last verified July 2026

At a glance

Entity
International Business Company (IBC), under the International Business Companies Act (Cap 12.14)
Corporate tax
30% headline corporate income tax on Saint Lucia-source income under a territorial system (foreign-source income generally exempt); an IBC may instead make an irrevocable election to be taxed at 1% to obtain a tax-residency certificate and CARICOM treaty access. The old blanket tax exemption was abolished for new IBCs from 1 Jan 2019, with grandfathering ending 30 June 2021 — 'zero-tax IBC' marketing is now outdated. As of 2026.
Incorporation time
~2-5 business days after KYC/due-diligence documents are approved (registry turnaround is typically 48-72 hours)
Minimum capital
No minimum share capital; shares may be no-par-value. A US$50,000 authorised capital is the customary default, but any amount is permitted.
Resident director
Not required. Minimum one director of any nationality/residence; corporate directors are permitted. A Saint Lucia registered agent and registered office are mandatory.
Audit
No statutory audit for an ordinary IBC. Audited financial statements become required only if the IBC makes the 1% tax election (to file and claim treaty/residency benefits).
Remote set-up
Yes — fully remote, no in-person presence needed. Incorporation is handled by a licensed Saint Lucia registered agent, who performs KYC/due diligence and files; certified/notarised ID and proof-of-address are required from beneficial owners.
Government fee
US$300 registration/licence fee payable to the Registrar on incorporation, and US$300 payable annually thereafter (statutory fee under the IBC regime); registered-agent and registered-office service fees are charged separately by the agent.
Best for
Foreign founders wanting a low-cost, fast offshore holding or trading vehicle whose non-Saint Lucia income is exempt. They should be ready to accept heavy KYC checks and the well-known difficulty of opening bank accounts for the structure.

The process

  1. Engage a licensed Saint Lucia registered agent and clear name approval/reservation with the Registrar of Companies and Intellectual Property
  2. Provide certified KYC on all directors, shareholders and beneficial owners (notarised ID, proof of address, source-of-funds) for the agent's due diligence
  3. Agent files the Articles of Incorporation and pays the registration fee; Certificate of Incorporation issued and registered office established in Saint Lucia
  4. Appoint director(s) and issue shares, adopt by-laws, maintain the register of members/directors and register of beneficial owners; decide whether to make the 1% tax election
What can go wrong
  • The IBC is no longer tax-exempt: since the 2019 reforms (in response to EU/OECD pressure) it falls under the 30% territorial regime, and grandfathering ended 30 June 2021 — treat any 'tax-free IBC' pitch as stale.
  • Economic-substance rules apply to IBCs carrying on 'relevant activities' (e.g. financing, holding, IP, headquarters); genuine local substance may be required to keep the foreign-source exemption defensible.
  • Opening a bank account for a Saint Lucia IBC is difficult in practice — many banks and EMIs are reluctant to onboard Caribbean offshore companies, and beneficial-ownership information is collected and shared with authorities, so this is not an anonymity vehicle.
  • Accessing the 1% rate, a tax-residency certificate, or CARICOM double-tax treaty benefits requires the irrevocable election plus audited accounts and ongoing filing — a real compliance cost, not automatic.

Form a company in Saint Lucia?

One named person on the file, an honest read on tax and substance, and a fixed quote before you commit.