Category: Business

All non CARICOM individuals and companies, intending to conduct business in Saint Lucia, and own more than 49% of the company’s shares, are required to have a Trade License. The Ministry of Commerce, Business Development, Investment and Consumer Affairs issues Trade Licenses. The procedure for obtaining a Trade License is as follows:- 1. Three copies […]

The National Insurance Corporation is similar to Social Security in the United States. Every employer and his employees must be registered with the NIC office. Contributions to the NIC total ten percent (10%) of wages, five percent (5%) to be paid by the employee and 5% by the employer. In the event of absence from […]

Obtain a Tax Payer Identification Number • A Tax Payer Identification Number is obtained and a registration form must be completed and submitted to the Inland Revenue Department. • The completed registration form must be signed by a director and the company secretary. It must accompany the certificate of incorporation with a list of employees, […]

An external (foreign) company seeking to establish in Saint Lucia must: 1. Obtain approval for the name of business –Request for Name Search • Business name search must be submitted to be approved by the Registrar. • On approval, the Application for Registration and Statutory Declaration must be submitted to the Registrar, along with the […]

Customs Procedures 1. Certain products being imported in St Lucia require licenses, which are obtainable from the Ministry of Commerce, Business Development, Investment and Consumer Affairs. 2. Duty free importation of raw materials, equipment, machinery and spare parts is available under the incentive regime for the development of industry. 3. Goods can be shipped either […]

Saint Lucia is home to major international banks providing financial supports services. Additional information on these banks can be obtained here from the Bankers Association of St. Lucia Inc. Special request has to be made to the Government for permission to operate a US Dollar account. Bankers Association of St. Lucia Inc Members 1ST NATIONAL […]

All residents of Saint Lucia, including the self employed, corporations, and partnerships (regardless of profitability) are required to file an income tax return with the Inland Revenue Department of Saint Lucia (IRD). Corporate                  Tax Rates Corporation Tax 30% Withholding tax 25%(Non-CARICOM Nationals) Withholding tax 15%(CARICOM Nationals) How […]

The Government of Saint Lucia provides incentives to encourage investment in approved products/sectors by providing c such as relief from custom duties on the importation of raw materials, plant, machinery and equipment to be utilised in the business activity and may also grant tax holidays. There is also unrestricted repatriation of profits and carry forward […]

Under the Foreign National and Commonwealth Citizens (Employment) Regulation, anyone outside of the Organisation of Eastern Caribbean States (OECS) wanting to conduct business or be gainfully employed in Saint Lucia must apply for a work permit. Applications can be obtained from the Labour Department of the Ministry of Education, Human Resource Development and Labour. Procedure […]