With many centres having implemented LLC or limited liability company legislation, the question has often been posed why not St. Lucia or simply when? The LLC's attractiveness to the US market is based, amongst other things, on the ability of a US person to be able to elect to have the entity treated as a disregarded entity, partnership or an association taxable as a corporation. This election is binding for a period of 60 months and is usually made to provide flexibility in managing the US person's business needs.
LLCs generally have the same legal characteristics as companies save the terminology. For instance, shareholders are referred to as members and directors as managers 1. There often is no reference to a unanimous shareholder's agreement but typically to an operational agreement that has the same effect.
