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, […]
Continue ReadingProcedure for a foreign company to establish in St Lucia
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 […]
Continue ReadingIncorporating and Registering a Business in St Lucia
The incorporation and registration of a company must be done through the registrar of Companies and Intellectual Property (ROCIP). It is highly recommended that the process be done through an attorney registered and operating in Saint Lucia. There are official forms to be completed during the process. The following procedures, which are in accordance with […]
Continue ReadingSt Lucia Customs & Excise Procedures
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 […]
Continue ReadingSt Lucia Banking and Finance
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 […]
Continue ReadingTaxation In St Lucia
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 […]
Continue ReadingInvestment Incentives in St Lucia
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 […]
Continue ReadingProcedure for Applying for a work permit in Saint Lucia
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 […]
Continue ReadingSt Lucia Labour and Labour Legislation
Labour Law The Labour Code sets guidelines for employment of persons, dismissal and payment of severance and other benefits. Hours of Work 1. Maximum Weekly Hours – 40hrs work Week 2. Maximum Daily Hours – 8 hrs 3. Maximum overtime Hours – No limit (overtime issued at the discretion of Employer) Overtime Over 40 hours […]
Continue ReadingSt Lucia Citizenship or Permanent Residence
St Lucia Citizenship or permanent residence may be applied for, through the Ministry of Home Affairs and National Security, if a non-national is desirous of becoming a citizen or a permanent resident of Saint Lucia, after having resided in Saint Lucia for: • (1) one to three (3) years, temporary residency • (5) five years, […]
Continue Reading