FAQ
St. Lucia's online IBC Registry is very user friendly, designed to ensure that
the user, no matter his/her computer competence will be able
to perform any task provided by the system
What is the level of confidentiality?
The IBC Act provides for confidentiality of shareholders, directors and officers; only the Memorandum and Articles of association, the registered agent and office are public records. For trusts, the Settlor’s identity and the trust instrument are not public records; that information remains with the registered trustee.
What is the taxation policy for IBC in St. Lucia?
The IBC Act provides an election to companies either to be exempted from tax or to be liable to tax at a rate of 1%. IBCs are free from exchange controls and are exempt from stamp duty.
What sort of regulation has been put in place
to preserve the integrity of the jurisdiction?International regulators have commended the Government not only on the care with which each act was crafted, but also the fact that collectively the regulatory framework provides a synergy not commonly found in international financial service jurisdictions. Importantly, our framework includes the Money Laundering Prevention Act, which meets the highest international regulatory standards designed to preserve and ensure the integrity of the jurisdiction.
What is the role of the private sector: Financial Centre Corporation (FCC)?
FCC is charged with the promotion of the jurisdiction and the development of information systems and other infrastructural requirements for the functioning of Pinnacle St. Lucia. Roles of the different entities are described in detail in the section, “About Pinnacle St. Lucia”.
Do I have to travel to St. Lucia to hold my AGM?
Meetings of directors may be held in or out of St. Lucia. There is no requirement for local directors.
What legislation is in place in St. Lucia for the regulation of the industry?
The International Business Companies Act, the Registered Agent and Trustee Licensing Act (RATLA), the International Trusts Act, the International Insurance Act, the International Banks Act. Those Acts are based on other known regional models and have been modified to ensure effective regulation. The most important regulatory Act is the RATLA, which makes provision for the regulation of all international financial service entities through effective regulation of the registered agents and registered trustees. This is a very significant piece of legislation as in other jurisdiction the industry is not regulated by law, merely codes of conduct which do not have the sanction or effect of the rule of law. To view the legislation, please click here.
What is Pinnacle St. Lucia?
Pinnacle St. Lucia is the brand name of the International Financial and World Investment Centre (IFWIC) of St. Lucia. IFWIC is a 100% Government owned company.
What can be done online?
Pinnacle St. Lucia is the world’s only public online International Business Company Registry.The system is public and used by clients, Local Registered Agents (LRA), Licensed International Professionals (LIP) (who are overseas agents associated with the LRAs), the Registrar of International Business Companies and the Director of Financial Services. Each user has the ability to carry out various functions based on their respective needs and the control that a registry system requires. These functions in the past could only have been completed by physically visiting a companies registry, or by using traditional communication and research methods. This system is unique and very user-friendly. It gives the user 24-hour access to the Registry, offering flexibility and convenience with high state of the art technology.Please click here to have the full description of our state of the art registry system.
What level of security is provided for the online Registry?
Considerable effort and expense have been invested to ensure that the system is secure and that an unparalleled level of service is provided. Our registry system guarantees user security and confidentiality as the transfer of data is more secure than sending a facsimile using the standard telephone lines. All online transactions are safe and supported by the best and latest technologies available, including Secure Sockets Layer (SSL) 128 bit, which is the highest commercial data transfer encryption security available worldwide.
Can I move my offshore entity to St. Lucia from another jurisdiction?
The legislation of St. Lucia allows continuation in St. Lucia of any IBC incorporated in any other jurisdiction. The Government fee for continuation is only US $300.
Can I move my offshore entity from St. Lucia to another jurisdiction?
The IBC Act allows migration of any IBC, incorporated in St. Lucia, to any other jurisdiction.
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How much does it cost to incorporate an IBC in St. Lucia?
The Government fee for incorporation is US $300 whether the capital of the IBC is more than or less than US $50,000.
