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Taxation and Investment in Saint Lucia

Taxation and Investment in Saint Lucia

taxation-and-investment-in-saint-lucia

Saint Lucia not only famous as a touristic destination, it is also an award winning renowned destination for investment, as it was considered by The European Business Magazine in 2018 as the best Caribbean country to invest in, and was also awarded the AIM award for best investment in Latin America and the Caribbean in the year 2018, despite the financial and economic crisis downturns, Saint Lucia’s economy has remained one of the most stable in the world, due to the solid political and investment environment that the country is constantly developing through many legislations and initiatives which has transferred its economy from being based on agriculture, to become one of the most diverse economies in the Caribbean. 

And over the years, Saint Lucia has cemented its reputation as a country where investments are safe, as it has attracted a number of regional and international brands across various economic sectors in the island, the business climate of the country has never been better. 

The first major investment sector in Saint Lucia is the Tourism sector, as the country has quickly positioned itself as one of top touristic destinations around the world, Saint Lucia has been considered as the world’s leading Honeymoon destination over 12 times since the year 1997, many high-end developments in the tourism sector has made Saint Lucia an exclusive destination for visitors and investors from all around the globe.

Another sector that the country is currently investing in developing is the manufacturing sector, as Saint Lucia’s strategic location and available educated workforce have enabled this sector to cover many diverse areas such as the agro-processing, textiles, electronic assembly, beverage brewing, carbon fibre high speed boats and green technology innovations. 

The taxation legislation of Saint Lucia offers many incentives to companies and individuals, as the country imposes no capital gains taxes, no corporate taxes, and no taxation on income derived anywhere from outside Saint Lucia, Saint Lucia also does not impose any taxes on estate or inheritance. 

As for companies and businesses, Saint Lucia offers a wide range of features to ease the business operations in the country, such as the confidentiality of companies registration, the simplicity of incorporation processes with no minimum share capital requirements, the yearly low governmental fees, and the absence of exchange, currency, or capital controls. 

Sources: 

The Inland Revenue Department of Saint Lucia

Investment Authority of Saint Lucia