About Invest SVG

Invest SVG > About Invest SVG

Strong - Vibrant - Growing

INVEST IN ST. VINCENT & THE GRENADINES

 

Invest SVG is the investment promotions agency for St. Vincent and the Grenadines and falls under the auspices of the Ministry of Finance, Economic Planning and Sustainable Development.

We are responsible for attracting and facilitating local and Foreign Direct Investment. Invest SVG also offers services in Investment Promotions, Investment Facilitation and Research/Information Development.

We are a customer-focused organization, committed to assisting in the creation of a favourable investment climate through involvement in policy advocacy.

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Cabinet (Government) has appointed a Board of Directors to preside over Invest SVG; with members drawn from the public and private sectors. The Board is responsible for policy guidance, strategic planning and ensuring the accountability of the Executive Director. The Board is aware that Investment Promotions is highly competitive, and that the company must be staffed with personnel who are determined, responsive, market-driven, client-focused and flexible.

LOCATION

St. Vincent and the Grenadines is a chain of islands located 100 miles (160 km) West of Barbados, at a latitude of 13o 15′ N and a longitude of 61o 12′ W. Our multi-island state is 75 miles (120 km) to the North of Grenada and 24 miles (40 km) South of St. Lucia.

St Vincent is the largest of the islands within the chain, covering approximately 150 sq. miles (390 sq. km).

SIZE

St. Vincent & the Grenadines consists of a mixture of approximately 32 inhabited and uninhabited islands, islets and cays – totalling 150 sq. miles (389 square km). The largest island, St. Vincent, is 18 miles (29 km) long and 11 miles (17.7 km) wide; with an area of 133 sq. miles (344 sq. km).

The Grenadines include the inhabited islands of Bequia, Mustique, Canouan, Mayreau and Union Island; with a group of smaller, uninhabited islets and cays – including the world famous sailing paradise the Tobago Cays.

GEOGRAPHY

St. Vincent and the Grenadines provide a decadent blend of lush rainforests and endless stretches of pristine beaches.

St. Vincent is mountainous, with its highest peak being the La Soufrière Volcano at 4,048 ft. (1,234 m); while the Grenadines are low-lying and surrounded by clear, turquoise waters – which are ideal for sailing and diving.

POPULATION

A 2014 census estimated that the population of St. Vincent and the Grenadines is 109,434; with approximately a quarter of inhabitants living in the capital city Kingstown and its surrounding suburbs, and 9.4 per cent living in the Grenadines.

English is the official language, with a dialect of ‘broken English’ spoken by the vast majority.

Why choose SVG?

Our consultants have similar professional and educational backgrounds to those at generalist strategy consulting firms but with a significant advantage: 100% of Putnam’s work is dedicated to maximizing the value of the pharmaceutical, biotechnology, diagnostic and device products.

Integrity
OPERATIONAL EXCELLENCE
INNOVATION
CONTINUOUS IMPROVEMENT

The Why.

Direct & Customer-Focused

Invest SVG is a one-stop shop that is “bridging the gap” between host country St. Vincent and the Grenadines and the investor through dynamic strategies.

Competent Staff

Invest SVG is staffed with personnel who are determined, responsive, market-driven, client-focused and flexible.

Your Intermediary

Invest SVG is the gateway which connects the world to St. Vincent and the Grenadines; enabling local and foreign investors alike the opportunity to invest in all the economic sectors within the country.

Thinking About Your Taxes

Persons who are residents of and living in St. Vincent and the Grenadines are subject to taxation on their assessable income; whether this income accrues directly or indirectly from all sources inside or outside of SVG. Where an individual who is ordinarily resident in the State, but is employed outside SVG, his/her assessable income includes only the amount compulsorily remitted or such employment income received in St. Vincent and the Grenadines. The assessable income of a non-resident, on the other hand, includes all income accrued directly or indirectly in St. Vincent and the Grenadines – which is not exempted from tax.

The What.

Tourism Development

Income tax exemptions are available according to type and size of investment; ranging from 10 – 15 years. There are also exemptions for the following: i) customs duties on building materials, hotel equipment and some promotional material ii) import duties on food and beverages for resorts with more than 100 rooms. Double taxation relief is available where applicable; there is the repatriation of profits and dividends, and there is freedom from Capital Gains Taxes.

Agro-Processing

Fiscal Incentives may be granted to a company incorporated or a corporate body established in St. Vincent and the Grenadines. Such a company must either be engaged in manufacturing or processing of an approved product. Tax holidays vary according to the category of an enterprise; the maximum tax exemption is 15 years. An enterprise is categorized based on its local value-added content, which is expressed as a percentage of sales of an approved product.

Renewable Energy

General incentives and exemptions apply according to the investment.

Scientific and Medical Research

General incentives and exemptions apply according to investment.

Light Manufacturing

General incentives and exemptions apply according to investment.

Creative Industries

General incentives and exemptions apply according to investment.

International Financial Services

We are a low-cost, White-listed, well regulated and stable jurisdiction.

Information And Communications Technology

The Information and Communication Technology Sector Investment Act (2007) incentivizes approved ventures by way of: duty-free concessions, tax holidays and work permits for approved employees.

Our Vision.

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Our focus enables us to provide customized, actionable recommendations that will foster results.

The vision of Invest SVG is to evolve into a truly best practice investment promotions company for small countries; promoting collective investments of St. Vincent and the Grenadines – thereby increasing the flow of Foreign Direct Investment.

The Mission of Invest SVG is to facilitate sustainable economic growth in St. Vincent and the Grenadines by providing Investment Promotions, Export Development, Business Facilitation and Research Services to potential and existing local and foreign investors and Government Agencies. Invest SVG will achieve this by being customer focused, information and technology-driven, by employing motivated and professional staff and by being a consultant with key stakeholders in the private and public sectors.

Annette Mark

Executive Director

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How Our Story Began.

In October 2003, the precursor to Invest SVG – the Nation Investment Promotions Incorporated (NIPI) – was founded by decree. Prior to that, the Development Corporation (DEVCO) initially managed the Investment Promotions functions of St.Vincent and the Grenadines; and was also responsible for property acquisition/disposal and the provision of loans and other forms of financial assistance.

In subsequent years, it was felt that the name and image of NIPI was not having the desired impact on a regional and international scale. It was, therefore, decided that NIPI would undergo a rebranding exercise – which was approved on March 13, 2009. On August 24, 2009, the Invest SVG brand was launched.

From August 2009 until January 2016, Invest SVG operated under the auspices of the Prime Minister’s Office. However, following the last General Election in December 2015, Invest SVG was transferred to the Ministry of Economic Planning, Sustainable Development, Industry, Internal Trade, Information and Labour – with the Hon. Camillo Gonsalves as Minister. In November 2017, a Cabinet reshuffle made Gonsalves the Minister of Finance, Economic Planning, Sustainable Development & Information Technology – with Invest SVG remaining under his portfolio.

Invest SVG is overseen by a Cabinet-appointed Board of Directors, whose members are drawn from the Public and Private sectors. The Board is responsible for policy guidance, strategic planning and ensuring the accountability of the Executive Director. Current Board members are: Anthony Regisford (Chairman), Clare Keizer (Deputy Chair), Laverne Grant, Glen Beache, Calvert Jones, Fedaria Richardson, Sandy Peters-Phiilips and Kezron Walters.

Invest SVG functions as a gateway which connects the world to St. Vincent and the Grenadines – enabling local and foreign investors alike the opportunity to invest in all the economic sectors in the country. As part of its mandate, Invest SVG focuses on seven main sectors. Namely: Tourism Development, Agro-Processing, Renewable Energy, Light Manufacturing, International Financial Services, Information and Communications Technology (ICT) and  the Creative Industry.

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