November 5, 2015

Procedure for Obtaining a Trade License in St Lucia

All non CARICOM individuals and companies, intending to conduct business in Saint Lucia, and own more than 49% of the company’s shares, are required to have a Trade License. The Ministry of Commerce, Business Development, Investment and Consumer Affairs issues Trade Licenses. The procedure for obtaining a Trade License is as follows:- 1. Three copies of the Trade License Application Form can be...

How to Register for Social Security NIC in St Lucia

The National Insurance Corporation is similar to Social Security in the United States. Every employer and his employees must be registered with the NIC office. Contributions to the NIC total ten percent (10%) of wages, five percent (5%) to be paid by the employee and 5% by the employer. In the event of absence from work due to illness, maternity and accident, the NIC pays sixty (65%) of the employee’s...

How to Obtain a Tax Payer Id Number in St Lucia

Obtain a Tax Payer Identification Number • A Tax Payer Identification Number is obtained and a registration form must be completed and submitted to the Inland Revenue Department. • The completed registration form must be signed by a director and the company secretary. It must accompany the certificate of incorporation with a list of employees, their National Insurance numbers and dates of employment...

Procedure for a foreign company to establish in St Lucia

An external (foreign) company seeking to establish in Saint Lucia must: 1. Obtain approval for the name of business –Request for Name Search • Business name search must be submitted to be approved by the Registrar. • On approval, the Application for Registration and Statutory Declaration must be submitted to the Registrar, along with the approved Name Search form. An EC $2.50 stamp is required for...

Incorporating and Registering a Business in St Lucia

The incorporation and registration of a company must be done through the registrar of Companies and Intellectual Property (ROCIP). It is highly recommended that the process be done through an attorney registered and operating in Saint Lucia. There are official forms to be completed during the process. The following procedures, which are in accordance with the Companies Act of Saint Lucia, apply: A foreign...

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