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Schedule 2

Revised Laws of Saint Lucia (2021)

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Schedule 2

(Sections 32 and 34)

FOREIGN COMPANIES

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    1.   The bodies corporate in question are bodies corporate not incorporated under the law of Saint Lucia in the case of which any of the following conditions is fulfilled—

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      (a)     that the body corporate is by any means controlled (whether directly or indirectly) by persons resident in Saint Lucia;

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      (b)     that more than one-half of the sums which, on a liquidation thereof, would be receivable by holders of share or loan capital would be receivable directly or indirectly by or for the benefit of persons resident in Saint Lucia;

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      (c)     that more than one-half of the assets which, on a liquidation thereof, would be available for distribution after the payment of creditors would be receivable directly or indirectly by or for the benefit of persons resident in Saint Lucia; or

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      (d)     that more than one-half—

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        (i)     of the interest payable on its loans and loan capital, if any,

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        (ii)     of the dividends payable on its preference share capital, if any,

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        (iii)     of the dividends payable on its share capital, if any, not being preference share capital,

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    is receivable, directly or indirectly, by or for the benefit of persons resident in Saint Lucia.

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    2.   Where the identity of the persons by whom or for whose benefit any sum, assets, interest or dividends are directly or indirectly receivable depends on the exercise by a person resident in Saint Lucia of a power of appointment or similar power, the sum, assets, interest or dividends, for the purposes of this Schedule, is considered to be receivable directly or indirectly by or for the benefit of persons resident in Saint Lucia.

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