COREDO > Corporate Services > Company Formation > Company Formation in Saint Lucia

Company Formation in Saint Lucia

Why Register a Company in Saint Lucia

Saint Lucia is a Caribbean jurisdiction with a mixed legal system that combines a civil code with common law, where an international business company (IBC) is registered through a licensed registered agent within a few business days.

IBCs incorporated from 1 January 2019 are tax resident and taxed under a territorial system that leaves certain foreign income untaxed, subject to economic substance requirements. The COREDO team has been operating since 2016, providing full support for company formation in Saint Lucia and other jurisdictions.

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Cost of the service
from EUR 5,870

Types of Companies in Saint Lucia

IBC (International Business Company) — the primary corporate vehicle for international clients. An IBC is incorporated under the International Business Companies Act of 1999, which remains in force as amended. Since the 2018 reform, IBCs registered from 1 January 2019 follow new rules on tax residence and economic substance.

Economic substance

An IBC must have an adequate number of employees with the necessary qualifications and experience, adequate operating expenses, and investment and capital commensurate with its activity. What this means for your structure depends on what the company will do.

Tax status

An IBC registered from 1 January 2019 is tax resident in Saint Lucia and is taxed under the general territorial system, like any other company.

Legal system

Saint Lucia has a mixed legal system in which a civil code is combined with common law. IBCs are registered and operate under a separate statute, the International Business Companies Act.

Companies under the Companies Act

Companies that are not incorporated as IBCs are registered under the Companies Act, Cap. 13.01. The name of such a company must include ‘Incorporated’, ‘Limited’ or ‘Corporation’, or the abbreviation ‘Inc.’, ‘Ltd.’ or ‘Corp.’; the law sets its own requirements for IBC names.

External companies

Under the Companies Act, an external company is one incorporated under the law of another country — not Saint Lucia or another CARICOM or OECS state. The test is the place of incorporation, not the share held by foreign owners. To register, an external company files an application with information that includes its directors and beneficial owners, together with statutory declarations by a director and an attorney.

Saint Lucia is a member of CARICOM (Caribbean Community and Common Market) and a full member of the OECS (Organisation of Eastern Caribbean States).

Permitted Business Activities

A Saint Lucia IBC may be used for a broad range of international activities, including but not limited to:

Permitted international activities
International trading and import/export operations
Holding company structures and asset protection
Investment and portfolio management
Consulting and professional services rendered outside Saint Lucia
Intellectual property holding
E-commerce and digital business

IBCs registered from 1 January 2019 are no longer barred from doing business in Saint Lucia. To carry on commercial activity within Saint Lucia itself, the law requires a trade licence. The exceptions are citizens of Saint Lucia, citizens and companies of CARICOM and OECS states that count as nationals under the law, and Saint Lucian companies that are not an alien company. Whether a particular IBC needs a licence is checked for its structure. The licence is granted with the approval of the minister responsible for commerce; it is valid until 31 December of the year of issue and may be renewed.

Company Registration Procedure

An IBC is registered under the International Business Companies Act by a registered agent licensed under the Registered Agent and Trustee Licensing Act. The registration process includes:

Company name verification and reservation.

Verification of name availability and reservation of the name. An IBC name must contain ‘Limited’, ‘Corporation’, ‘Incorporated’, ‘Societe Anonyme’ or ‘Sociedad Anonima’, or the abbreviation ‘Ltd’, ‘Corp’, ‘Inc.’ or ‘S.A.’, and end with the words ‘International Business Company’ or the abbreviation ‘IBC’. The Registrar will refuse a name that is identical or misleadingly similar to the name of an existing company without that company’s consent, as well as a name containing words such as ‘Bank’, ‘Insurance’, ‘Fund’ or ‘Trust’. The chosen name can be reserved for up to 30 days; no fee is charged when the registered agent reserves it for up to 10 days.

01

Client due diligence (KYC/AML).

Standard compliance check conducted prior to commencement of the registration procedure.

02

Preparation of incorporation documents.

Preparation of the Memorandum and Articles of Association, share certificates, and other required corporate documents.

03

Filing with the Saint Lucia Registry.

Submission of incorporation documents through the registered agent.

04

Issuance of the Certificate of Incorporation.

The Registry issues the Certificate of Incorporation confirming the company’s legal existence.

05

Post-incorporation compliance.

Registration with the Inland Revenue Department, issuance of a Tax Account Number (TAN), and setup of ongoing compliance processes. The company needs the TAN to file its annual income tax returns. The Inland Revenue registration form is signed by a director or the company secretary and submitted with the certificate of incorporation and a list of employees with their NIC numbers and dates of employment. From the date of registration, the IBC keeps a share register and a register of beneficial owners at its registered office.

06

Corporate documents.

You receive the full set of registered company documents: the Certificate of Incorporation, the Memorandum and Articles of Association and the share certificates.

A licensed registered agent files the application for registration and the incorporation documents with the Registrar; the agent’s services for the first year are included in the COREDO package.

07

Required Documents

To register an IBC in Saint Lucia, the following documents are required from the client:

Copy of passport of each director and shareholder

Proof of residential address (utility bill or bank statement, not older than 3 months)

Description of the planned business activities of the company

Proposed company name (to be checked for availability)

Any other information and/or documents necessary for registration and incorporation of the company

Prior to commencement of the registration procedure, a standard client due diligence (KYC/AML) check is conducted in accordance with applicable compliance and regulatory requirements. To register an IBC, the registered agent files an application on Form 1 with the Registrar, together with the Memorandum and Articles of Association and a due diligence form. The agent attaches a statutory declaration that it has complied with the Money Laundering (Prevention) Act, the Anti-Terrorism Act and the Income Tax Act.

Registration Timelines

Company formation in Saint Lucia takes approximately 5 working days from submission of all required documents and completion of client due diligence.

Ongoing Compliance Requirements

After incorporation, the company must maintain the following annual obligations:

Obligation	Details
Renewal of company registration	Government fee included in COREDO’s annual maintenance
Annual returns	By 15 February, the company files with its registered agent a shareholder return with beneficial ownership information and a director return for the previous year; the agent confirms their receipt to the Registrar. Each late return incurs a penalty of US$250, payable by 31 March to keep the company from being struck off the register
Economic substance	The company keeps employees, operating expenses and investment adequate to its activity. An IBC operating in a sector covered by the Economic Substance Act — for example, holding, finance and leasing, headquarters or distribution and service centre business — files an economic substance report. The first report is due within 12 months after its first year of income, and later ones within 3 months after each year
Company income tax return	Filed with the Inland Revenue Department by 31 March, whether or not the company made a profit; a company granted a tax exemption files it too. The department charges no filing fee.

Cost of Services

Company formation in Saint Lucia

from EUR 5,870 + VAT

Full set of registered company documents (Certificate of Incorporation, Memorandum and Articles of Association, share certificates).
Registered agent services for the first year.
Registered address services for the first year.

Additional services

Paid separately from the package

Accounting services — from EUR 479 + VAT/month (billed annually); the cost depends on the volume of operations and the number of transactions.
Mail and call forwarding service — EUR 335 + VAT/month (billed annually).
Corporate bank account opening (EU physical bank) — EUR 6,000 + VAT.
EU director service (including verification) — on request.

Tax System of Saint Lucia

Saint Lucia reformed its IBC regime in 2018: Act No 13 of 2018 abolished the preferential tax treatment. The choice between full exemption and a 1% rate applied only to IBCs incorporated before 1 December 2018, and only until a transitional period ended in 2021. An IBC registered from 1 January 2019 is tax resident in Saint Lucia and is taxed under the general territorial system.

The EU Code of Conduct Group assessed both the old IBC regime and the foreign-source income exemption that followed it as harmful. Saint Lucia amended both, and the EU Council endorsed the changes in March 2019 and February 2021.

Corporate income tax

A company incorporated in Saint Lucia is tax resident there, and a foreign company is resident if it is managed and controlled in Saint Lucia. Resident companies with no tax arrears that comply with Inland Revenue Department requirements pay a flat 30% on taxable profits; a higher rate applies to the others.

Territorial system

A territorial tax system applies to all companies after 31 December 2018: resident companies are not taxed on certain types of income from sources outside Saint Lucia. Which of your foreign income qualifies is worth checking before you set up the structure.

Non-resident companies

A non-resident company is taxed on its Saint Lucia-source income. Royalties, management fees, commissions and other payments of an income nature to a non-resident bear a final withholding tax of 25% of the gross amount, and interest bears 15%. Dividends are not subject to this withholding. It does not apply to a non-resident that carries on business or is employed in Saint Lucia, except for payments for independent services performed in Saint Lucia other than through a permanent establishment. A double taxation agreement may reduce the rate.

Payments abroad

Under domestic law, royalties and management fees paid abroad bear 25% withholding tax, and interest bears 15%. Where the recipient is resident in a state for which the CARICOM Double Taxation Agreement has entered into force, the rate on royalties, management fees and interest does not exceed 15%. Where the payer and the recipient have a special relationship, the reduced rate applies only to the arm’s-length part of the payment, and payments for professional services do not count as management fees.

Capital and currency

Saint Lucia has no separate capital gains tax: gains on the sale of assets are taxed at the income tax rate only if they form part of the company’s income-earning activity. The Eastern Caribbean dollar is pegged at EC$2.70 to US$1.

Double tax treaties

Saint Lucia applies the CARICOM Double Taxation Agreement: it has the force of law and applies to residents of the states for which it has entered into force.

Our Experts

The COREDO team has been operating since 2016 and possesses deep expertise in company formation across various jurisdictions worldwide.

Nikita Veremeev

Founder & NED of COREDO. Founded the company in 2016 and personally oversees the strategic development of the business across dozens of jurisdictions.

Pavel Kos

Head of Legal. Has been with the COREDO team since June 2017, responsible for legal support of corporate projects and company registration.

Alena Mach

Executive Director

Daniil Saprykin

Head of Customer Success

Annet Abdurzakova

Senior Customer Success Manager

Frequently Asked Questions

Is physical presence in Saint Lucia required for company formation?

IBC registration is handled by a licensed registered agent, who files the application and the incorporation documents with the Registrar. Presence requirements come into play once the company operates. If an IBC operates in a sector covered by the Economic Substance Act and is not a pure equity holding company, its board of directors must meet in Saint Lucia, with a quorum of directors physically present at the meetings.

What taxes does a Saint Lucia IBC pay?

An IBC registered from 1 January 2019 is tax resident in Saint Lucia and pays 30% on taxable profits if it has no tax arrears and complies with Inland Revenue Department requirements. Certain types of foreign income are not taxed, and the company files an annual income tax return and must meet the economic substance requirements. The exemption and the 1% rate applied only to IBCs incorporated before 1 December 2018 and have ended.

How long does it take to incorporate a company in Saint Lucia?

The approximately 5 working days start only once the full set of documents has been submitted and client due diligence is complete, so the time needed to gather documents and pass KYC is not included. While the set is being prepared, the chosen name can be reserved for up to 30 days so that it is still yours when the application is filed.

Who receives information on directors and shareholders?

An IBC files its annual shareholder return (with beneficial ownership information) and its annual director return with its registered agent. The register of beneficial owners is kept at the company’s registered office; the minister may request information from the company or its agent by written notice. A company in a sector covered by the Economic Substance Act also names its beneficial owners in its economic substance report.

Can a Saint Lucia IBC open a bank account in the EU?

Yes, COREDO assists with opening corporate bank accounts in EU physical banks. This is offered as an additional service. The specific bank and timeline depend on the company’s business profile and compliance documentation.

Do I need a local director or nominee in Saint Lucia?

Registration itself runs through a licensed registered agent, but the company’s economic substance must match its activity, so the answer depends on what the company will do. If your structure needs an EU director, COREDO offers an EU director service, including verification, on request and for a separate fee.

Start Your Company Registration in Saint Lucia Today

COREDO specialists provide full support throughout the company formation process in Saint Lucia — from document preparation and KYC compliance to incorporation, tax registration, and ongoing annual maintenance. We have been operating since 2016 and help entrepreneurs from dozens of countries build international business structures. Send us your request, and we will discuss how to register an IBC in Saint Lucia for your project.

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