Saint Vincent and The Grenadines International Business Companies Act 2007 – Company Law
A Saint Vincent IBC must abide by company law laid out in the Saint Vincent and The Grenadines International Business Companies Act 2007. You will find below the key extracts from the Saint Vincent and The Grenadines International Business Companies Act along with the full Act.
Company Name
The name of a limited company shall end with: “Limited”, “Corporation” “Incorporated”, “Sendirian Berhad”, “Société a Responsabilité Limitée”, “Société Anonyme”, “Sociedad Anonima”, “Besloten Vennootschap”, “ Gesellschaft mit beschrãnkter Haftung”, “Naamloze Vennootschap”, “Société par Actions” or there abbreviations
The name of an IBC shall not be the same as, or similar to, the name or business name of any other person or of any association.
Registered Office and Agent
An international business company shall at all times have a registered office and agent in the Saint Vincent and this must be specified in the company’s articles
The Registered Agent of an IBC must be a person who holds a relevant licence. Not withstanding any statutory provision to the contrary, the registered agent of an international business company shall be empowered to issue a Certificate of Incumbency specifying the names and addresses of any person acting as director to a company.
Articles of Incorporation
Articles of incorporation shall be in prescribed form and shall set out, in respect of the proposed international business company:
- Proposed name of the company
- Address of the registered office and the registered Agent
- Company type
- In the case of a company authorised to issue shares: the currency in which shares in the company shall be issued. A statement of the designations, powers, preferences and rights, and the qualifications, limitations or restrictions of each class and series of shares that the company is authorised to issue.
- A statement of the number of shares to be issued
- Whether the proposed company has elected to register charges with the Registrar
Directors
The directors have all the powers of management of an international business company that are not reserved to the members under this Act or by the articles or bylaws.
Company Restoration
Where an IBC has been struck off the Register, the Registrar may, upon considering all the relevant facts and upon receipt of an application and payment of the prescribed fee, and any outstanding fees, restore the international business company to the Register and issue a Certificate of Restoration.
The company or member of the company may, within 90 days, appeal to the Court from a refusal of the Registrar to restore the company to the Register and, if the Court is satisfied that it would be just for the company to be restored to the Register, the Court may direct the Registrar to do so.