Doing Business in Saint Vincent and the Grenadines

Saint Vincent and the Grenadines offers a business-friendly environment with modern legislation, a stable currency pegged to the US dollar, and attractive tax incentives. This guide provides an overview of the key considerations for doing business in SVG.

Business Environment

SVG is a member of:

• CARICOM (Caribbean Community)
• OECS (Organisation of Eastern Caribbean States)
• Eastern Caribbean Currency Union (ECCU)
• World Trade Organization (WTO)

Starting a Business

The process of registering a business in SVG typically takes 2-4 weeks:

1. Register the company name with the Companies Registry
2. File incorporation documents
3. Register for tax (TIN)
4. Register for VAT (if turnover exceeds EC$120,000)
5. Register for NIS (social security)
6. Obtain necessary business licenses

Corporate Tax Regime

• Standard CIT Rate: 30%
• Small Business Rate: 1% of gross turnover (turnover < EC$5M)
• VAT: 16% standard (EC$120,000 threshold)

Employment

• Minimum Wage: EC$15 per hour (approximately)
• NIS Contributions: EE 3.5% + ER 3.5%
• Standard Work Week: 40 hours
• Annual Leave: 2 weeks per year

Business Incentives

• Tax holidays for qualifying industries
• Duty-free concessions on capital equipment
• Export allowance scheme
• Hotel development incentives
• International Business Company (IBC) regime