Nicholas John & Co
 

St. Lucia's Offshore Advantage


Location: St. Lucia, "the Helen of the West Indies" lies roughly between 60° and 61° West longitude; 13° and 14° North Latitude. 1,300 miles South East of Florida, in the Caribbean.

Access: There are regular and daily flights to and from the United States, Canada and Europe.

Government: St. Lucia is an independent member of the British Commonwealth, with a political system based on the Westminister Model, but with a written constitution. St. Lucia has a history of being a stable and safe democracy.

Legal System: St. Lucia has a tradition of separation of powers between the judicial system and the political system. The judiciary is independent and the Privy Council is the final court of appeal.

Economy: The three (3) main pillars of the local economy are: Tourism, Agriculture and industry, with special emphasis now being placed on the provision of services, especially international financial services.

Financial Infrastructure: Many international financial institutions are represented on the island; they along with several indigenous banks offer all the services associated with a modern financial centre.

Communication: A modern, full automatic digital telephone system is in place with Internet access, and other means of communication in this modern age. We offer an on-line IBC registry which uses the latest stare-of-the-art technology, allowing for incorporation and other functions to be carried out on-line form any where in the world.

Currency: St. Lucia's currency is the Eastern Caribbean Dollar (EC$) which has an exchange rate of EC$2.7 to the US Dollar.

Time Zone: St. Lucia lies in the Atlantic standard time zone - 12 hours behind Hong Kong.

The People: St. Lucia has a population f approximately 150,000 people; with a large pool of professionals and university graduates including lawyers, accountants, corporate managers and experts in the field of finance. Competent staff is plentiful and available at reasonable rates - much lower than some of our neighbours in the industry.

Language: English is the official language and we boast to have the highest number of Nobel Lauretes per capita. Sir Arthur Lewis in Economics and Derek Walcott for Literature.

St. Lucia's Strategy

  • Diversify the economy
  • Provide quality jurisdiction
  • Adhere to acceptable international standards.
We hope to achieve this by:
  • our anti-money laundering legislation which meets the standards set out by FATF

  • by a strong regulatory department - the Financial Services Supervision Unite, headed by

  • a Director of International Financial Services

  • a licensing regime for service providers.
No person can engage in the business of providing international financial services representation unless licensed by the Government.

Applicants must be professional such as lawyers or accountants or must be qualified persons with relevant experience. They must also be of sound reputation and meets tests of fit and proper. Once approved, they must have in place adequate professional indemnity insurance and must submit annual audited financial statement.

Overseas Involvement.
The Legislation
St. Lucia has in place a suite of legislation designed to meet the needs of the industry and has adopted a position of being proactive and responsive with its laws.


St. Lucia's legislative package includes:

  • the Registered Agent and Trustee Licensing Act

  • the International Business Companies Act

  • the International Trust Act

  • the International Banks Act

  • the International Mutual Funds Act

  • the International Insurance Act

  • the Money Laundering (Prevention) Act

 
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