After years of planning, and the launch of St. Lucia into the financial services industry in March this year, the island is now establishing itself in the market as a unique and reliable model for financial services.
The laws passed in December 1999 include; The International Business Companies Act (IBC); The International Trust Act; The International Mutual Funds Act; The International Insurance Act; The International Banks Act, and regulatory legislation including the Registered Agent and Trustee Licensing Act, and the Money Laundering (Prevention) Act. The laws are uniquely formulated to provide an effectively regulated environment, in conjunction with satisfying the demands of the client. The IBC Act has the distinctions of allowing an election either to pay tax at 1% or to be exempted, as well as having an annual license fee of only US$300 regardless of the stated capital of the company. Trusts formed under the International Trusts Act are able to benefit from aggressive, well
