Why Choose Wilfred
We are efficient – for example, we can form an IBC in St. Vincent and the Grenadines within 48 hours. We possess a, competent and reliable team that is transparent in its dealings but uncompromising in our integrity. We understand the importance of maintaining the confidentiality for our clients’ business affairs. When you contact us, you speak to a professional not clerical staff and we respond promptly and efficiently to your telephone inquiry, e-mail, fax within 24 hours. We fully understand the international financial needs of individual clients and the diversified requirements of active business enterprises and can offer solutions best adapted to their present and future needs. We work in close co-operation with a number of respected institutions and experts worldwide to ensure that the highest possible level of service is provided to our valued clients. Our core team comprises of professionals with diverse academic backgrounds and expertise. These include individuals who specialize in international banking, trust, estate and asset planning; chartered accountants with expertise in accounting, tax, trust and company administration and offshore investment advice; and lawyers with expertise in relevant legislation and regulation in international business. The team is supported by an administrative staff who are graduates in accounting and finance.
Why SVG?
Below are some of the reasons why Wilfred regards St. Vincent and the Grenadines as a well respected international financial service jurisdiction:
- Safe and secure International Business Center for over 20 years
- No tax treaties with the US or European countries
- Uses the Common Law
- First jurisdiction in the world to publish all application and renewal forms for offshore entities in Government regulations.
- First jurisdiction in the world with an international law that allows multiple classes and sizes of companies to be registered.
- First jurisdiction in the world to enact a mutual funds law with comprehensive exemptions for small closely held funds.
- First jurisdiction in the world to allow fast preliminary approvals and long term registration renewals for banks, insurance companies and mutual funds.
About The Company
Wilfred Services Ltd. (Wilfred) has been a provider of international financial management and representation services to clients across the globe since 1997.
The firm is a licensed Registered Agent, Registered Trustee and Private Trustee in St. Vincent and the Grenadines (SVG) that specializes in the formation of International Business Companies (IBC’s), Hybrids, International Trusts, International Banks, Insurance Companies and Mutual Funds. The firm also facilitates Ship and Yacht Registration.
Although headquartered in SVG, Wilfred is a genuine multi-jurisdictional offshore service provider that also establishes banking and brokerage accounts for its many clients in various jurisdictions and will gladly do so for any new client.
Our firm also provides strategic and business advisory services, as well as online digital marketing solutions to clients across the globe.
We offer competitive rates for our services and will provide you with the professional, courteous and efficient service that you would receive from any other service provider anywhere else.
About St. Vincent and the Grenadines
St. Vincent and the Grenadines (SVG) is situated in the Eastern Caribbean at the southern end of the Windward Islands chain. It is an archipelago of islands, St. Vincent being the largest, with the smaller Grenadines comprising Bequia, Mustique, Canouan, Mayreau, Union Island, Palm Island, Petit St. Vincent and a number of small islets. The country lies approximately sixty one degrees West (61° W) longitude and thirteen degrees North (13° N) latitude, with its nearest neighbours being Barbados one hundred (100) miles to the East; St. Lucia twenty one (21) miles to the North and Grenada twenty eight (28) miles to the south.
The country covers approximately 384km², and has a total population of 111,380 (1998) updated figure). The capital, Kingstown has a population of 25,000. The topography is quite mountainous, with average temperature of 27° C, and annual rainfall of 2100 mm. The official language is English, with approximately 85% of the population being functionally literate. The currency used is the Eastern Caribbean dollar (EC$), with an exchange rate of EC$1 = US$0.37.
The country gained independence from Britain on October 27, 1979, instituted a Parliamentary Democracy on the Westminister model, and has remained a part of the Commonwealth. Queen Elizabeth II is the head of state and is represented by the Governor General, Sir Frederick Ballantyne. The Prime Minister is Dr. Ralph Gonsalves, whose party, the Unity Labour Party, was elected to office in March 2001. The legal system is based on English common law.
The legal system is derived from English common law and statues. There are 11 courts in three magisterial districts. The Eastern Caribbean Supreme Court, comprising a high court and a court of appeals, is known as the St. Vincent and the Grenadines Supreme Court. The court of last resort is the judicial committee of Her Majesty’s Privy Council in London.
St. Vincent and the Grenadines is a developing country with a developing economy whose current focus is in the following sectors:
International Financial Services:On 20th June 2003 SVG was removed from the FATF Blacklist. With this clean bill of health St. Vincent and the Grenadines has become a world-class international financial service centre, characterized by integrity, confidentiality and innovation. St. Vincent and the Grenadines also offers registration for flags of convenience. The location is ranked 11th globally for the service.
Composition of International Finance Sector- International Business Companies (IBCs)
- International Trusts
- International Banks
- International Insurance Companies
- Mutual Funds
- Licensed Service Providers known as Registered Agents/Trustees
Agro-Processing and Light Manufacturing are done for local consumption as well as niche market exports. There is significant investment in food processing facilities to ensure that they are all compliant with HACCP standards. Joint ventures are encouraged, however, foreign investors may own up to 100 percent of any enterprise.
Current projects include vacuum packing of vegetables, poultry hatching and processing and exporting of consumer-ready bottled coconut water. Customised as well as standard factory shells of 6,000, 10,000 and 20,000 sq. ft., which include electrical and plumbing connections, are readily available. These shells are managed by National Properties Ltd. The agro-processing and light manufacturing sector will also be energized by the linking of the International Financial Services to trade, as well as the introduction of the Free Port/Free Zone.
Hotel Development:St. Vincent and the Grenadines is the home of the Mustique Company, the oldest most successful private investment project in the Caribbean. Mustique – one of the Grenadine islands – is among the top destinations in the Caribbean for the celebrity jet set, attracting notables ranging from Mick Jagger to Oprah Winfrey, and most recently Beyonce Knowles.
During the second half of 2004, a $250million, 300-acre resort will be opened on the nearby Grenadine island of Canouan. This facility by the Canouan Resorts Development Ltd. of Nassau consists of a 156-room Raffles Hotel and Spa, an 18-hole golf course designed by Jim Fazio and a European-style casino. The casino – named Trump Club Privee – will be managed by New York real estate baron Donald Trump. Trump will also promote the sale of dozens of million-dollar-plus villas and home sites on the property.
The NIPI and the Government of St. Vincent and the Grenadines are currently in the final stages of negotiation regarding the construction of a 100-room hotel and conference facility on the leeward side of the mainland. Plans are also afoot for the development of an exclusive Resort and spa on the Mt. Wynne/Peters Hope Estates.
- The lowest government fees of any offshore jurisdiction
- Zero taxation of international entities
- Old established banking history and culture
- Home of the Mustique Company - oldest, most successful private investment project in the Caribbean
- An independent supervisory Authority
- Excellent professional services
- A stable, secure and well regulated operational environment
- Culture of Anti Money Laundering (AML) Compliance
- Absence of major financial scandals in the sector
- Absence of a reputation for having "capitulated" to the Financial Action Task Force (FATF)/international organizations
- Bearer Shares are provided by this jurisdiction. Some jurisdictions eliminated bearer shares, oblivious to the fact that many European countries still offer them
- Strong position on the OECD harmful tax initiative
- Unlike some Eastern Caribbean islands which emerged from blacklisting with zero or just one international bank, St. Vincent & the Grenadines emerged as a viable international banking center with some ten banks remaining when the jurisdiction was de-listed.