Why St. Vincent and the Grenadines?
Advantages
- Lack of crypto regulation. Activities related to crypto assets do not require a license.
- Low Cost of Doing Business: Low corporate service costs, no physical office requirements, no licensing fees, and no contributions can be a significant advantage for businesses.
- Flexibility of corporate legislation. Possibility of quick registration of companies, no requirements for authorized capital.
- Confidentiality. Information about the company's owners and directors is not disclosed in public registers.
Limitations
- Lack of an official license. The lack of a license negatively affects the recognition of a cryptoproject at the international level.
- Limited access to payment systems and banks. Inability to open a company account in local banks. Lack of a license may also make it difficult to open accounts in developed jurisdictions.
- Risks of legislative changes. The country has adopted a law introducing licensing of crypto projects, which has not yet entered into force. The lack of a specific date for its introduction creates unpredictability and uncertainty for companies operating in this area.
Who St. Vincent and the Grenadines is suitable for
- Token issuers (ICO/IEO).
- Crypto exchanges and exchanges.
- Cryptocurrency wallets and depositories.
- Payment services.
- DeFi protocols.
- NFT and GameFi startups.
Cost
The level of costs for legalization in the jurisdiction is below average
- State duty for company formation: USD 225
- Annual state fee: USD 100
- Authorized capital: there are no requirements for its size.
Main stages of legalization
- Choosing the name and form of the company.
- Preparation of documents and application for registration.
- Name Reservation.
- Formalization of constituent documents.
- Submitting documents to the registrar and receiving a registration certificate.