St. Lucia, often called "The Helen of the West", is located in the Eastern Caribbean. Its population of 170000 speak both English and a French-based creole. Easy access, world class accommodations and solid manufacturing and service industry are the foundations upon which St Lucia's international financial services industry have grown since its establishment in 1999.
The country is 238 sq. miles with a total population of 160,000, speaking English and a French-based patois. St. Lucia is a member of the Caribbean Community and Common Market (CARICOM), an organization, which seeks to assist developing countries on the path to economic success through regional co-operation.Whether traveling by air or by sea, St. Lucia offers excellent accommodations for its visitors and the natural beauty of the island, covered with splendid peaks and vast forest terrain are certainly added attractions.The local currency in St.Lucia is the Eastern Caribbean Dollars (EC), which is fixed to the US dollar at a rate of US$ 1.00 to EC$ 2.70.
St. Lucia's international financial services industry has sprung up as a result of its need to diversify its economic base and is ripe for expansion and real growth. Its political and economic stability, has attracted many investors over the years and it will continue to do so simply on the ground of "good business sense" and a solid unspoilt reputation.
FINCOS ASSISTS OUR CLIENTS TO EXPLOIT THE ADVANTAGES OFFERED BY ST. LUCIA'S LEGISLATION IN A USER-FRIENDLY AND CONVENIENT ENVIRONMENT.
The recognition of the benefits of a multi-diversified economy has ensured the commitment to growing the offshore sector within St. Lucia. The enactment of the legislation in place for the regulation of the industry being:
* THE REGISTERED AGENT AND TRUSTEE LICENSING ACT (RATLA)
* THE INTERNATIONAL BUSINESS COMPANIES (IBC) ACT
* THE INTERNATIONAL BANKS ACT
* THE INTERNATIONAL INSURANCE ACT
* THE INTERNATIONAL PARTNERSHIP ACT
* THE INTERNATIONAL TRUSTS ACT and
* THE INTERNATIONAL MUTUAL FUNDS ACT
* THE MONEY LAUNDERING (PREVENTION) ACT,
This has enhanced the current legislative framework significantly, seeking to ensure that St. Lucia remains attractive to international investors and markets. The Acts are fashioned from other regional models and have been adapted to suit the island's individual social, political and economic situation. The Acts, carefully crafted to bring integrity to the jurisdiction in the eyes of the INTERNATIONAL COMMUNITY, give access to new markets that may be unavailable at home.
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