Synopsis

St. Lucia seesawed between the British and the French until 1814, when the Treaty of Paris finally ceded the island to the British, ending 150 years of conflict during which St. Lucia had changed flags 14 times. The country however, gained internal autonomy in 1967 and full independence as a member of the British Commonwealth in 1979.

St. Lucia is only 27 miles long and 14 miles wide. The Atlantic Ocean sets off its Eastern Shore, while the beaches of the West Coast owe their beauty to the Caribbean Sea. Castries, the capital, has a population of 50,000 and the entire population is estimated at 150,000. The people speak English and French-based patois and there is a mixture of English, French, African and Caribbean cultural influences.

The economy was traditionally based on agriculture though tourism has grown rapidly in the past decade to become the major contributor to the local economy. Further economic development is being pursued particularly in the international financial services industry, where St. Lucia offers a complete range of vehicles for international financial services and a public online International Business Companies Registry. The government of St. Lucia has a very open work permit policy that welcomes qualified professionals. This combined with a very well educated work force including some 8,000 university graduates make St. Lucia ideal as a domicile for not only incorporation of companies but also higher end services such as back office and administration of mutual funds, insurance management and banking.

THE INTERNATIONAL BUSINESS COMPANY (IBC)

The IBC Act is a modern flexible piece of legislation that offers some of the best advantages available in the industry. It is based on other known regional models with modifications that reflect market and industry trends; it also has the following characteristics:

 

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Last reviewed: Saturday, July 01, 2006

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