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Saint Vincent Company Formation Guide
Saint Vincent & The Grenadines Company Formation
Saint Vincent company formation for general corporates as well as ICO corporates with relevant consultations. Mirr Asia will provide you complete guidance to establishing an LLC.
Resource · 00
Saint Vincent & The Grenadines Company Formation Guide (PDF)
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Overview · 01
Saint Vincent & The Grenadines Company Formation
For comprehensive information on establishing a company in Saint Vincent and the Grenadines, please refer to the following resources:
PDF Guide: Saint Vincent LLC Establishment Guide
Notice · 02
Things to note when establishing a company in St. Vincent and the Grenadines
Virtual Asset Regulation Notice
As of May 17, 2022, St. Vincent and the Grenadines, as a member of the East Caribbean Confederation, have passed a draft legislation regarding the virtual stabbing business. Virtual asset-related business activities are not currently regulated as official regulations or guidelines for virtual asset-related regulatory laws have not been disclosed. However, we inform you in advance that it may be classified as a subject of regulation as the applicable law is enforced in the future.
After detailed legal regulations and guidelines are published, we plan to reorganize and guide you. A license system may be introduced after the virtual asset regulation law is enforced, so please refer to it before proceeding with the establishment of the company.
LLC · 03
St. Vincent and the Grenadines - Guide to Establishing a Limited Liability Company (LLC)
Estimated time required (incorporation):
5 business days after obtaining all documents
Saint Vincent and The Grenadines LLC will be incorporated five days after verification of compliance with the basic requirements of the Saint Vincent and The Grenadines company law and receipt of signed corporate documents.
Services include:
- Certificate of Formation
- Articles of Formation
- Certificate of Exemption from Direct Taxes
- Certificate of Exemption from Import Duties
- Certificate of Good Standing
- Officers Register
- Members Register
- Membership Certificate
- Minutes (Organisational) [Resolution of the first board of directors of the corporation]
- Operating Agreement
- Company Search
- Handling Incorporation Documents [Preparation and processing of incorporation documents]
- Certificate of Translation for Driving License
- Brief Business Advising
- Providing Registered Address for 2 calendar years
- Acting as the Agent for 2 calendar years
- KYC/Due Diligence Test [Evaluation of customer suitability for incorporation]
Cost information:
LLC Establishment Cost
Establishment of a limited liability company + 2 years of calendar training Administrative cost: USD 3,500 (View price in KRW)
Seker (Cyprus) bank account opening fee: USD 400 (View in Korean Won)
* Calendar Year means that the period from the beginning of the year to the end of the year is treated as one year based on the calendar.
* Annual service is based on calendar years according to local regulations. Accordingly, our company is providing the service at the above establishment cost, including the annual service period for the year of establishment and the following year.
(From the 3rd year after establishment) Annual renewal fee: USD 1,950 (View in Korean Won)
Requirements and required documents for incorporation:
- 1. A copy of the shareholder/director's passport
- 2. Original fact authentication for the passport copy of the shareholder/director
- - Korean passport: English passport copy certificate (issued by the ward office) (View sample)
- - Passport from other countries: Certified True Copy or Notarial Certificate (see sample)
- 3. Two types of documents for the most recent (within 3 months) address in English for shareholders/directors (however, the address must be the same)
- - Residency in Korea: English certified copy (community center) + Scan the front/back of the driver's license (View sample)
- - Residence in another country: Utility Bill + Bank Statement (or equivalent official document) (View sample)
- 4. Expert Recommendation (Request to write an expert recommendation letter)
- - Those who can sign the letter of recommendation: accountant, lawyer, solicitor, tax accountant, labor attorney, administrator, insurance solicitor, Financial planner, financier, doctor, professor, employer, etc. (View sample)
- 5. Fill out the application for incorporation (View Application)
Procedure:
- 1Submit the required documents for the shareholder/director to be registered
- 2Payment of establishment cost
- 3Confirmation after confirming whether the name of the corporation is possible
- 4Sign the incorporation document provided by our company and send it by international mail
- 5Proceed with establishment after receiving documents
- 6Incorporation completion
*If you wish to open an account after establishment, please contact us in advance.
Guarantee Co. · 04
St. Vincent and the Grenadines - Guarantee Company Limited by Guarantee establishment guide
Estimated time required (incorporation):
After obtaining all documents, it takes 5-10 business days
The establishment of Saint Vincent and The Grenadines Company will be completed 5-10 days after verification of compliance with the basic requirements of the Saint Vincent and The Grenadines Company law and receipt of the signed corporate document.
Services include:
- Registration fees related to establishment and related government expenses
- Representation of the founder of Guarantee Co., Ltd.
- Articles of incorporation and registration at the registry office
- Drafting company bylaws and implementing them as promoters
- Minutes of establishment and organization meetings
- Fill out the moving agreement
- Certificate of Formation
- Stamped Articles of Incorporation
- Certificate of Exemption from Import Duties
- Certificate of Good Standing
- Register of Directors
- Register of Members
- Membership Certificate
- Company Search
- Handling Incorporation Documents [Preparation and processing of incorporation documents]
- Certificate of Translation for Driving License
- Brief Business Advising
- Providing Registered Address for 2 calendar years
- Acting as the Agent for 2 calendar years
- KYC/Due Diligence Test [Evaluation of customer suitability for incorporation]
Cost information:
Guarantee Co. Establishment Cost
Guarantee Co., Ltd. Establishment + 2 years of calendar training Management cost: USD 3,500 (View price in KRW)
Seker (Cyprus) bank account opening fee: USD 400 (View in Korean Won)
* Calendar Year means that the period from the beginning of the year to the end of the year is treated as one year based on the calendar.
* Annual service is based on calendar years according to local regulations. Accordingly, our company is providing the service at the above establishment cost, including the annual service period for the year of establishment and the following year.
(From the 3rd year after establishment) Annual renewal fee: USD 1,950 (View in Korean Won)
Requirements and required documents for incorporation:
- 1. A copy of the member/director's passport
- 2. Verification of the original fact of the member/director's passport copy
- - Korean passport: English passport copy certificate (issued by the ward office) (View sample)
- - Passport from other countries: Certified True Copy or Notarial Certificate (see sample)
- 3. Two types of documents proving address in English (within 3 months) of the member/director (however, the address must be the same)
- - Residency in Korea: English certified copy (community center) + Scan the front/back of the driver's license (View sample)
- - Residence in another country: Utility Bill + Bank Statement (or equivalent official document) (View sample)
- 4. Expert Recommendation: Confirmation of customer relationship for more than 2 years from experts (accountant/lawyer/lawyer/tax accountant, etc.) (View sample) (Request to write an expert recommendation letter)
- 5. Fill out the application for establishment (View Application)
Procedure:
- 1Submission of required documents for member/director to register
- 2Payment of establishment cost
- 3Confirmation after confirming company name availability
- 4Sign the establishment document provided by our company and send it by international mail
- 5Proceed with establishment after receiving documents
- 6Incorporation completion
*If you wish to open an account after establishment, please contact us in advance.
Changes · 05
Saint Vincent and the Grenadines - Company Name and Member Change Notice
(LLC and Limited Liability Company are the same)
Company Name Change Notice
1. Company Name Change Notice Procedure:
- Provide the company name you want (at least 2-3 names)
- Provide an invoice for changing the company name
- Pay the fee for changing the company name
- Check whether the company name can be applied for and prepare a resolution for changing the corporate name
- Provide a scanned copy of the signed resolution
- Return the original corporate registration documents** that were delivered to the customer at the beginning of the company establishment
- After receiving the original corporate registration documents, proceed with the registration process for changing the company name.
** List of original documents to be returned:
- Certificate of Formation [Company Establishment Certificate]
- Articles of Formation [Establishment Clause Correction Version]
- Certificate of Exemption from Direct Taxes [Direct Tax Exemption Certificate]
- Certificate of Exemption from Import Duties [Import Duty Exemption Certificate]
- Certificate of Good Standing [Company Survival Status Certificate]
2. Service included:
- Change of Articles of Incorporation
- Preparation of a resolution related to the change of the corporate name and registration
3. Service fee: USD 900 (including the cost of returning the original registration documents)
4. Estimated time required: At least 3 business days (from the date of receipt of all documents)
Manager (executive) change notice
1. Personal documents required (same as the documents required for establishment) for (newly appointed) individuals:
- 1) A scanned (or captured) copy of your passport.
- 2) Original verification of a copy of your passport.
- - Korean passport: A copy of your English passport (issued by the district office or city hall) (View sample)
- - Passport from another country: Certified True Copy or Notarial Certificate (View sample)
- 3) Two recent (within the last three months) English-language documents proving your address (must be the same address)
- - Living in Korea: A certified copy of your English passport (issued by the community service center) + a scan of the front and back of your driver's license (View sample)
- - Living in another country: Utility Bill + Bank Statement (or equivalent official document) (View Sample)
- 4) Expert Recommendation Letter (Request Expert Recommendation Letter)
- - Those who can sign the recommendation letter: Accountant, lawyer, judicial scrivener, tax accountant, labor consultant, administrative scrivener, insurance agent, financial planner, financier, doctor, professor, employer, etc. (Download Sample Document (Click))
- 5) Fill out the Member Registration Application (View Application)
2. Additional documents to be provided: St. Vincent registration data and accounting-related data Address information for storage of documents
3. Service fee: USD 700 per case
4. Estimated duration: 5 business days (from the date of obtaining a scanned copy of the signed document)
Member Change Notice
1. (For those newly appointed) Required documents for individuals (same as required documents for establishment):
- 1) A scanned (or captured) copy of your passport.
- 2) Original verification of a copy of your passport.
- - Korean passport: A copy of your English passport (issued by the district office or city hall) (View sample)
- - Passport from another country: Certified True Copy or Notarial Certificate (View sample)
- 3) Two recent (within the last three months) English-language documents proving your address (must be the same address)
- - Living in Korea: A certified copy of your English passport (issued by the community service center) + a scan of the front and back of your driver's license (View sample)
- - Living in another country: Utility Bill + Bank Statement (or equivalent official document) (View Sample)
- 4) Expert Recommendation Letter (Request Expert Recommendation Letter)
- - Those who can sign the recommendation letter: Accountant, lawyer, judicial scrivener, tax accountant, labor consultant, administrative scrivener, insurance agent, financial planner, financier, doctor, professor, employer, etc. (Download Sample Document (Click))
- 5) Fill out the Member Registration Application (View Application)
2. Service fee: USD 700 per transfer contract
* If more than two contracts are executed, USD 200 per additional transfer contract.
Example)
Existing member A's share: 50%
Existing member B's share: 50%
The company intends to transfer the shares to new members C and D in a 70:30 ratio, respectively.
Accordingly,
- (Contract 1) Transfer 50% of A shares to C
- (Contract 2) Transfer 20% of B shares to C
- (Contract 3) Transfer 30% of B shares to D
- Total number of contracts: 3 cases
In this case, the service fee is USD 1,100 (700+200+200).
* If you change the member and manager (executive) to the same person, a 20% discount will be applied.
FAQ · 06