Saint Vincent and the Grenadines IBC company. What are benefits?

Among the benefits that are specifically enjoyed are the following:

• St. Vincent IBCs are not liable to any taxation, for 20 years of incorporation
• It has no double taxation treaty with any other country.
• Exemption from any corporate tax, income tax, withholding tax, capital gains tax, or other like taxes on the income or assets of the IBC for 25 years.
• St. Vincent has a general confidentiality law that protects IBCs against disclosure of confidential information worldwide
• A number of internationally recognized banks have branch offices within the state including Barclays Bank PLC, Bank of Nova Scotia and The Canadian Imperial Bank of commerce.
• There is no requirement for the filing of by-laws or for disclosure of directors, shareholders, and attorneys of fact with the Offshore Finance Authority or any other entity.
• They allow bearer shares, registered shares, with or without par value, voting or non- voting
• Share capital may be expressed in any currency
• Low government and annual fees
• IBCs have great asset protection
• May engage in any activity that is not illegal within St. Vincent & Grenadines
• It can be administered from any part of the world, and its books, records, seal can be kept outside the territory
• They only require 1 director
• The name of the directors, shareholders and officers are not disclosed on any public register
• No foreign exchange controls are imposed