WHY PARTNER WITH AN INTERNATIONAL BUSINESS COMPANY?
BENEFITS OF DOING BUSINESS WITH AN INTERNATIONAL BUSINESS COMPANY (IBC)
IBCs stand out for its fast registration process, confidentiality, flexible structure, and its low annual fees and reporting requirements.
IBCs can be incorporated by a sole shareholder, who can be either resident or non-resident, individual or corporation. One director is required, who can be either resident or non-resident, individual or corporation, and can be the same person as the shareholder.
Details of members of the IBC remain private, as are not disclosed in a public registry. The equity in the form of the company’s shares is only made available to the Registered Agent.
IBCs are commonly used vehicles for a broad range of investment and business purposes, such as offshore investments, professional services, international trade, insurance and as a holding company.
JURISDICTION IS KEY...
LANDSHARK INTERNATIONAL HOLDINGS IS ESTABLISHED IN ST. LUCIA.
Saint Lucia has gone through several amendments of its business and tax laws to comply with requirements set by the OECD and the EU and avoid being blacklisted as an uncooperative jurisdiction.
International Business Companies (IBCs) in Saint Lucia will no longer be exclusively available for non-residents and they will be able to do business locally.
Saint Lucia has also passed several amendments to its tax laws to switch to a territorial tax system. All companies, including IBCs, will be taxed at 30% corporate tax on income from Saint Lucia-source and will be exempted from taxation on income from foreign sources.
Dividends and capital gains are also exempt from taxation in Saint Lucia.
DEFINING FOREIGN SOURCED INCOME
- Profits derived from a permanent establishment outside of the country of incorporation
- Profits derived from immovable property situated outside of the country of incorporation
- Interest income not borne by a native permanent establishment or charged against property located in the country of incorporation
- Income derived from investment in securities issued by a person outside of the country of incorporation, e.g. mutual funds, stocks, bonds, etc.
- Management charges paid by a nonresident outside of the country of incorporation
- Royalty payments received from a foreign permanent establishment and paid to a resident permanent establishment.
- Any income deemed to be accrued from foreign sources due to a DTA.