General Overview. Saint Lucia is an offshore financial sector, offering a well regulated and still flexible offshore company formation and management environment. It follows strong confidentiality provisions, and offers modern instruments for effective tax planning and asset protection strategies. Even though St. Lucia is not one of the biggest offshore jurisdictions, it offers modern, high-quality and well-regulated financial services.

Banking Sector. It is necessary to obtain a banking license, in order to provide banking services from the jurisdiction.  Category A and Category B banking licenses may be obtained there, which have different paid-up capital requirements and allow providing different offshore banking services. There are no exchange controls in St. Lucia. Banks may choose either to be exempt from income tax or to pay 1% of income tax to the local authorities.

Investment Funds. Public and private offshore investment funds may be established and managed in St. Lucia. The jurisdiction authorities have established solid regulations of the investment fund sector, and at present this jurisdiction is attractive for investment fund managers and their potential investors.

Insurance Companies. In order to conduct an offshore insurance business in St. Lucia, it is necessary to obtain an insurance license. Category A license is issued for general insurance activities, Category B license authorizes a company to provide long term insurance, while Category C license allows providing general and long term insurance services. An applicant must submit a number of requested documents and a business plan, as well as demonstrate their minimum capital and liquidity capability, in order to obtain an insurance license in the jurisdiction. An insurance company may select to be exempt from income tax or be liable to pay 1% for income tax purposes.