Our mission

Invest SVG > Mission

Mission, Vision and Core Values

Mission:

To achieve sustainable economic development through investment promotion and export development.

Vision:

Being the nation’s driver of economic growth through investment promotion and export development.

Core Values:

	ISVG is committed to informing the population about the impacts and effects of climate change and protect the assets of St. Vincent and the Grenadines
	ISVG strives to be innovative in every area of the organization and to its clients and client relations
	Transparency, honesty and accountability are of great importance for the ISVG team in order to develop efficient investment projects
	Preserving the gains of regional integration, as a team, while creating a robust and inclusive economy
	ISVG generates strong and sustainable economic growth by fostering private public partnerships with foreign and local investors to increase the level of employment and improve the living standards of all Vincentians.

OUR APPROACH

INVESTOR FOCUSED, DEVELOPMENTAL APPROACH

The mandate of Invest SVG is to evolve into a truly best-in-class investment promotions service provide for international companies looking to expand into our corner of the globe; by promoting collective the investment opportunities of St. Vincent and the Grenadines – thereby increasing the flow of Foreign Direct Investment while simultaneously increasing investor portfolios.

ECO FOCUSED, RENEWABLE ENERGY READY

We are all about responsible investment growth, protecting the natural resources of our lands while in pursuit of business goals has always been a mandate of our division. We’ll guide your efforts towards truly long-term business viability and sustainability.

SVG has substantial renewable energy sources to provide for heat (solar thermal, biomass), electricity (wind power, geothermal, hydro, and solar photovoltaic) and possibly fuel (biomass) and these are being looked at as alternative sources to replace imported petroleum products for electricity generation and heat production in SVG.

Individuals seeking to invest in the sector can make application to the Ministry of Finance for waivers.

INFORMATION COMMUNICATION TECHNOLOGY

The Information and Communication Technology Sector Investment Act 2007 incentivizes approved ventures by way of;

Duty free concessions.
Tax holidays.
Work permits for approved employees.

INTERNATIONAL FINANCIAL SERVICES

The International Business Companies Act No.18 of 1996 and regulations S.R.O. No. 33 of 1996 and their amendments govern the incorporation of International Business Companies in St. Vincent and the Grenadines.

Benefits of Incorporating in St. Vincent and the Grenadines
The SVG IBC has become the vehicle of choice for persons wishing to take advantage of the rapidly expanding offshore market. The International Business Companies Act 1996 is considered by legal experts to be a unique and innovative piece of legislation which contains provisions not found in similar legislation in other jurisdictions.

EXPORT DEVELOPMENT INCENTIVES

Enterprises benefiting from tax and duty concessions under the Fiscal Incentives Act are accorded partial relief from income tax chargeable on the profits earned from exports. This provision becomes operative as soon as the enterprise’s tax holiday expires and lasts for 5 years.

Other benefits under the Export Development Incentives include:

Repatriation of profits.
Exemption from capital gains tax.
Working capital advances for the purchase of inputs and raw materials under the Export Credit Guarantee Scheme (ECGS).

Benefits of owning a business in St. Vincent & the Grenadines;

EXCELLENT INCENTIVES ABOUND

▪ St. Vincent & the Grenadines is an emerging and developing investment arena.

▪ St. Vincent & the Grenadines benefits from a low inflation rate and growing opportunities in trade and export sectors.

▪ The Government offers special incentive packages for foreign investments, in the hotel industry and light manufacturing, including incentive packages on an ad hoc basis.
▪ Joint ventures, foreign and national investors, may repatriate profits equivalent to the extent of foreign ownership.

▪ Foreign firms are allowed to repatriate dividends abroad

▪ The Legal Constitution, of St. Vincent & the Grenadines, guarantees constitutional independence of the judiciary.

▪ St. Vincent and the Grenadines offers a numerous incentives to investors, such as tax holidays and duty free concessions legislated through the Fiscal Incentive Act, the Hotels Aid Act, and the Free Zone Act.

WHY WE EXIST

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.

Our clients entrust us to solve difficult problems in a manner that is secure and confidential from our first contact with them. Trust is the first attribute our clients recognize when we discuss solutions rather than problems.

Invest SVG also stimulates export development by assisting local producers/businesses become export-ready (offering quality products and services to lucrative markets) through access to grants/other funding, training and opportunities to attend regional and international exhibitions and expositions.

CREATIVE INDUSTRIES

SVG’s Creative Industry is one of the key income generators for the local economy. Sub-sectors within this industry include:

Film
St. Vincent and the Grenadines possesses a natural landscape and seascape, and is one of the last unspoilt locations in the world. Its many well preserved historical sites and buildings, and it competitive pricing make it ideal for epic/historical films. It is the recognition of such qualities that made St. Vincent and the Grenadines the natural choice of Disney for the blockbuster movie ‘Pirates of the Caribbean’.

Music
Music and entertainment is currently centered on the annual Carnival ‘Vincy Mas’, but with the crossover appeal of Caribbean Soca into the musical mainstream, investment opportunities exist for producing and marketing this increasingly popular music. Opportunities also exist for partnering with the Government in strengthening the link between Tourism and entertainment; particularly in the development of the unique and already popular annual festivals such as Nine Mornings and the Blues Festivals held on the Grenadines islands of Mustique and Bequia.

St Vincent and the Grenadines has well-equipped studios, and skilled producers such as Alex Barnwell, Mark Cyrus, ‘Wetty Beatz’, Lester ‘4th Dimension’ Iroha – among others. The success of Vincentian artistes such as Kevin Lyttle, Gamal ‘Skinny Fabulous’ Doyle, Marlon Roudette, Delroy ‘Fireman’ Hooper, Shertz ‘Problem Child’ James and Shane ‘Hypa 4000’ Husbands has raised the international profile of the domestic music scene, and created a sense that there is a unique Vincentian ‘sound’.

Vincy Mas is an important contributor to the music industry, since most of the production that is done domestically on a large-scale is a result of this event. Vincy Mas has also created a domestic and international market for Vincentian music, and offers an opportunity to showcase local styles and talent.

Fashion
The global fashion industry is expanding, and goes beyond haute couture/runway fashion to prêt-à-porter (ready to wear) and trendy, urban designs. Nowadays, the industry covers a wide range of fashionable products, including perfume, jewelry and accessories.

Today, the originality of ethnic textiles combined with the eccentricity and diversity of works by fashion designers from developing countries is conquering world markets. The organization of Fashion Weeks throughout the Caribbean region is facilitating the promotion of designers, stylists and models to the rest of the world. In this respect, developing economies are being called upon to better explore trade opportunities in world markets in light of the new scenario of liberalized markets for textiles and clothing post Multi-fibre Agreement.

With Collective Management of copyright and related rights Worldwide, the creative industries are projected to account for more than seven per cent of the world’s GDP, and the sector is forecast to grow at a rate of 10 per cent annually. Soca and Ragga Soca genres of music, Fashion and Film have placed St Vincent and the Grenadines on the international stage; and continue to boost other sectors such as tourism.

We continuously hold ourselves to the highest standards to deliver above and beyond.

With the cannabis industry ever expanding, customers have a myriad of options of where to buy their products which in turn raises the bar for competing dispensaries to earn their business. Since the cannabis industry is as of yet quite unregulated as far as quality assurance of product and cannabis training, the responsibility to ensure customer service and product quality is on the business.

This value remains continuous in our thoughts, a defined intention across.
Everyone deserves respect, transparency, and honesty – the three pillars

We will save your dispensary money by identifying and eliminating any compliance issues (such as proper packaging, proper IDing, budtender to customer ratio, etc.), which in turn eliminates penalty and code violation fees and ensures repeat customer business and word of mouth recommendations that you will earn based upon the tested/proven quality of your products. Not only do we keep compliance/regulations issues in check and ensure quality control of the product, we also keep management informed of employee product knowledge and customer service. All of this equates more profit for the business. High Standards has two primary goals: to set the standards for customer service and experience.

We are true to ourselves, and commit to always perform at our best.

Frequently asked questions

How to start a business in St. Vincent and the Grenadines?

Answer:

Search and reserve company name with the Commerce and Intellectual Property
Office.
Obtain and legalize the incorporation documents with a Lawyer
Register with the Company Registry at the Commerce and Intellectual Property
Office.

What is the size of the labour force?

Answer:

Approximately 56,339 persons.

Labour force break down by gender

Male 29,558

Female 26,781

Labour force break down by age

Age	Number
15 – 24 (Youth)	9,240
25 – 34	13,089
35 – 54	24,924
55 – 64	6,906
65+ (Elderly)	2,180

Do I have to apply for residency to work in St. Vincent and the Grenadines?

Answer:

Yes, all non-nationals (with the exception of Organisation of Eastern Caribbean States [OECS] citizens) are required to apply for residency.

Non-nationals intending to reside and work in St. Vincent and the Grenadines for more than six (6) months are required to additionally apply for a Residency Permit.

To acquire a Residency Permit for St. Vincent and the Grenadines, the following procedures must be followed:

Complete the Residence Application Form (Return Application Form in duplicate to the Prime Minister’s Office)
Two (2) passport-sized photos (certified)
A Police Certificate of Character from the country where the applicant has most recently resided for a period in excess of six (6) months.
A recent Bank Statement or other evidence of the applicant’s current financial resources.
In lieu of this, the applicant may submit a letter of support from an individual or from his/her employer (if he plans to be employed locally), whereby the employer will accept financial responsibility for the applicant.
Medical Certificate

More information can be obtained from Invest SVG – info@investsvg.com or 784-457-2159

Do I have to apply for a work permit to work in St. Vincent and the Grenadines?

Answer:

Yes.
Under the Foreign Nationals and Commonwealth Citizens (Employment) Act, 1973, all
non-nationals who wish to conduct business or be gainfully employed in St. Vincent and the
Grenadines must apply for a work permit.

For a Work Permit in St. Vincent and the Grenadines, the application must be made to the Prime
Minister’s Office.
A Work Permit is valid for one (1) year and should be renewed annually.

How are concessions authorized?

Answer:

They are authorized by the following means:

Cabinet decision
Statutory Rules and Orders
Acts of Parliament
Conditional Duty Exemptions (Second Schedule)

What is the minimum investment for a foreign investment company?

Answer:

SVG does not restrict investment by enforcing limits.

What are the protections to investments available to investors?

Answer:

Investments are served by the laws of St. Vincent and the Grenadines

How do I open a bank account?

Answer:

Requirements vary with each bank. Please contact Invest SVG for further details.

Companies Require: – Certificate of Incorporation/Registration, Articles of Association, Memorandum of Association and Notice of Change of Directors, Share allotment, Business plan/projections. For existing companies– audited financials/six months bank statement on account.
Businesses Require: Certificate of Registration and Notice of Beneficial Owner(s),
Application for Certificate of Registration, Business plan/projections.
Churches/Societies/Groups Require: Act of Incorporation/Certificate of Registration, Minutes from meeting stating the decision was made to open an account.
One piece (two certified copies if customer is not present or is a non-national) of valid ID for each Signatory, Director, Shareholder -owning 10% or more and Company Secretary.

Can I buy and own land in St. Vincent and the Grenadines?

Answer:

The ownership of land by foreign nationals in St. Vincent and the Grenadines is
governed by the Aliens Land Holding Regulations of the Laws of St. Vincent and the
Grenadines.

All foreign nationals wishing to acquire land in St. Vincent and the Grenadines must obtain a license from the Government. Applications are made through the office of the Prime Minister and registered through a local lawyer.

Is there any obligation for employer to pay employees National Insurance?

Answer:

Yes, based on National Insurance Act No.33 of 1986 of St. Vincent and the Grenadines.

What are the regulations regarding employment termination?

Answer:

The Protection of Employment Act 2003, Act No. 20 of 2003 of St. Vincent and the Grenadines.

What types of capacity building services are provided by Invest SVG?

Answer:

Yes.

We offer workshop training, legislative guidance, compliance requirements and other technical assistance and other consultation services.

Does Invest SVG provide Loans?

Answer:

No.
Invest SVG does not provide loans but Invest SVG can advise you as to the
various institutions which provide available financing.

How do I protect my company’s Intellectual Property?

Answer:

Please see http://www.cipo.gov.vc

OPERATIONAL EXCELLENCE

We provide the best value to our clients by continuously refining our processes and cost structure.