International Financial Services

OVERVIEW

Pacific (SVG) operates a small but well regulated international financial services sector (IFS) comprising International Business Companies (IBCs) including Segregated Cell Companies, Limited Liability Companies (LLCs), Mutual Funds, International Banks, International Insurances, International Trusts and Registered Agent and Trustees. SVG is one of the oldest IFCs in the region, offering a wealth of experience, knowledge and professionalism since the 1970s.

The Government of SVG is committed to the country’s growth as a reputable and discreet IFC. SVG is subject to its own legislation and regulations and this feature creates greater product value for the investor and industry legislation that is practical and business friendly. The risks of exposure to money laundering and terrorist financing have been mitigated by strong modern legislative and administrative measures.

Key institutions that are pillars in ensuring the sound regulation of the financial services industry are the SVG Financial Intelligence Unit (FIU) and the National Anti-Money Laundering Committee. The FIU is a member of the Egmont Group and has been commended by key States and organizations for its role in anti-money laundering investigations and compliance.

The international financial services (IFS) sector is comprised of the following types of financial products:

• International Banks;
• Mutual Funds;
• International Business Companies (IBCs);
• Limited Liability Companies (LLCs);
• International Trusts;
• International Insurance Companies and Intermediaries; and
• Registered Agents and Trustees/Service Providers.

SVG’s products are in keeping with those internationally offered and are reviewed periodically to ensure sustainability and relevance given the dynamic global market in which they compete. There is continuous focus on updating and improving relevant legislation and keeping apprised of all international developments and best practices.

See the following for Guidelines to Large Exposures and Credit Risk Concentration for International Banks.

the PACIFIC BFA offers efficient and professional service to the IFS sector. Incorporations of IBCs and formations of LLCs are completed within one business day. International Trusts registrations are completed within two to three business days. All international business transactions are conducted through the services of a ‘Registered Agent & Trustee/Service Provider’. All applications or filings relating international entities made to the PACIFIC BFA must be filed by a licensed Registered Agent and Trustee in Pacific.