(758) 468-3200
Government Saint Lucia
 
 
 
Home
/
Departments
/
Legislative Drafting
/
Revised Laws of Saint Lucia
/
INTERNATIONAL BUSINESS COMPANIES ACT
/
12.   Prohibitions

Revised Laws of Saint Lucia (2022)

saint Lucia
back arrow Back to Revised Laws of Saint Lucia (2022)
back arrow Back to Table of Contents

12.   Prohibitions

  1.  

    (1)   An international business company shall not—

    1.  

      (a)     carry on business with persons resident in Saint Lucia;

    1.  

      (b)     own an interest in immovable property situated in Saint Lucia, other than a lease referred to in subsection (2)(e);

    1.  

      (c)     carry on international banking business unless it is licensed to do so under the law in force in Saint Lucia relating to international financial services;

    1.  

      (d)     carry on a banking business with a resident whether alone or in conjunction with any other activity, unless it is licensed to do so under the Banking Act;

    1.  

      (e)     carry on an international insurance business unless it is licensed to do so under the law in force in Saint Lucia relating to international financial services;

    1.  

      (f)     carry on a shipping business with a resident whether alone or in conjunction with any other activity, unless it has complied with an enactment relating to the carrying on of shipping business;

    1.  

      (g)     carry on the business of international financial services representation;

    1.  

      (h)     carry on international mutual funds business unless it is licensed to do so under the law in force in Saint Lucia relating to international financial services; or

    1.  

      (i)     carry on business in a manner detrimental to the public interest.

  1.  

    (2)   For the purposes of subsection (1)(a) an international business company shall not be treated as carrying on business with a person resident in Saint Lucia by reason only that—

    1.  

      (a)     it makes or maintains deposits with a person carrying on banking business within Saint Lucia;

    1.  

      (b)     it makes or maintains professional contact with attorneys-at-law, management consultants, accountants, book keepers, trust companies, administration companies, financial and investment advisers or other similar persons carrying on business within Saint Lucia;

    1.  

      (c)     it prepares or maintains books and records within Saint Lucia;

    1.  

      (d)     it holds within Saint Lucia meetings of its directors or members;

    1.  

      (e)     it holds a lease of property in Saint Lucia for its operations; (Amended by Act 14 of 2002)

    1.  

      (f)     it holds shares, debt obligations or other securities in a company incorporated under this Act or under the Companies Act;

    1.  

      (g)     shares, debt obligations or other securities in the international business company are owned by any person resident or citizen of Saint Lucia or by a company incorporated under this Act or under the Companies Act;

    1.  

      (h)     it owns a vessel registered in Saint Lucia in accordance with the Shipping Act;

    1.  

      (i)     it employs a resident, or leases or purchases property (other than real property) in Saint Lucia in connection with its operations; or

    1.  

      (j)     a ship or vessel owned by the international business company does business with a resident in the course of its operations.

  1.  

    (3)   Subsections (1) and (2) only apply to a company incorporated prior to the 1st day of December, 2018 and continues to apply to that company until the 30th day of June, 2021. (Inserted by Act 13 of 2018)

Address

2nd Floor Francis Compton Building, 
Waterfront,
Castries, Saint Lucia

Need help?

Site Map

HomeAbout AG OfficeDepartmentsAccessibilityContact Us

Quick Links

Inland Revenue Department of Government of Saint Lucia (IRD)Government of Saint Lucia Citizenship by Investment Financial Intelligence Authority

Important Links

CARICOMOECSFSRA
 
© 2025 Attorney General's Chambers
Site by