Bequia means, "Island of the Cloud", so named by the Caribs many years ago. It is the largest of the St. Vincent and Grenadines; about seven square miles in size with a highest peak of 881 feet. Bequia’s population is approximately 5,000, and the community is made up of fishermen, sailors, master boat-builders and whalers. The whaling here is more of a ritual and has been done for centuries now with sail boat and hand-harpoons, with the whaler taking as much risk the whale. Catches average about one per year and in no way threaten the species. With a daily average temperature of 25 C/80 F. Bequia’s ideal climate attracts visitors from all over the world every year, and is a popular anchorage for yachts. The people are friendly and speak English...please ask first if you would like to take a picture of an individual.

Taxis are waiting to serve you once to get ashore. Please use the taxi that is next in line to avoid confusion. Taxi rates: to most beaches the fare is US$15.00 per vehicle per hour. For three persons or more in a vehicle the fare is US$5.00 per person per hour.

Tour guides, be sure to request a tour guide from your driver, or buy a map from your driver or one of the Boutiques.

Water taxis are also available, but as most are uninsured and do not carry adequate life-saving equipment, enter these boats at your own risk...water taxis with numbers on the bow are accredited by the Bequia Tourist Committee.

Currency at the banks US$1.00=EC$2.67. Other businesses give EC$2.60.

Shopping hours: 8:00 am –12:00 noon, 2:00 pm – 6:00 pm. Bequia has lovely Boutiques and unique Craft Shops where souvenirs may be purchased. Bargains are good. Please keep in mind that prices are fixed...attempts to barter are sometimes considered offensive.

Hotels and restaurants, there are several restaurants located around the Harbour, and two hotels within walking distance. Taxi-drivers will be happy to take you to hotels and restaurants located outside the Harbour.

Helpful hint, washrooms facilities are extremely limited on Bequia, due to a limited water supply on a dry island, Please use ship facilities before coming ashore to avoid discomfort.

Clothing is informal. Bathing suits should never be worn in town or along the main road without adequate covering.

Beaches are plentiful and beautiful. Do not pick or eat small green apples which are called manchineel. Also please do not letter, as we would like to keep our beaches clean for everyone to enjoy. Topless sunbathing is definitely a no-no on Bequia.

Watersports, why not? Diving and windsurfing are popular sports here as well as snorkeling. Available through Dive Bequia and Sunsports in the Harbour, or Friendship Bay Resort and Bequia Beach Club in Friendship. Windsurfing is also available at De Reef Aquasports at the beach in Lower Bay. The various establishments are responsible for services offered.

The island of Mustique is located in the Northern Grenadines, 18 miles south of bb. Vincent, 5 miles southeast of Bequia, 122 miles west of Barbados, and 450 miles east/northeast of Caracas. Flying time: 10 minutes from St. Vincent. From Barbados 45 minutes, from Miami 5 hours, from New York 6 hours, from London 10 hours. By sea: 2.5 hours by mailboat from St. Vincent. The Mustique Company's bat provides transportation to the neighboring islands.

In the path of the Trade Wind, Mustique enjoys a fresh climate, with an average temperature range of 75 to 85 degrees F (24 to 29 degrees C) throughout the year. There are 45-60 inches of rainfall per annum, most of which falls during the rainy season, from the end of August to mid-November.

The island is 3 miles long and 1.5 miles wide at its widest point, comprising 1,350 acres. The island is hilly, with a large plain in the north, and is essentially composed of seven valleys each with a white sand beach and wooded hills that rise to a height of 496 feet. A series of coral reefs surrounds Mustique (use of spear guns prohibited), with many sandy beaches and coves on the 12-mile coastline providing safe swimming and snorkeling.

Mustique is part of the independent state of St. Vincent and the Grenadines. The government of St. Vincent and the Grenadines has full control of its internal affairs. The Prime Minister is on the board of the Mustique Company, which owns Mustique and is responsible for its development. The population is presently about 300, not including the employees of the Mustique Company, and the Mustique Construction Company.

Mustique has a resident doctor and fully equipped clinic, and there is a fully equipped modern hospital on St. Vincent.

Telephone calls can be taken from and placed to any part of the world. Mail is routed through St. Vincent daily. Telex facilities in the office of the Mustique Company.

Please contact the Mustique Company: Telephone: 84621/2, Telex: 7549 MUSTICO, Fax: 72551.

The property owners of Mustique have carefully preserved the island's spectacular natural beauty and its ecological viability and are dedicated to maintaining the unhurried, low-key atmosphere. For those seeking privacy and quiet in the unspoiled tropics, Mustique offers an unparalleled ambience.

Set in the middle of the Grenadines, Canouan is a tranquil island of brown and green hills surrounded by deep blue sea. Al] around the island are magnificent white sand beaches tucked away in every corner. Walking in the hillside it's hard not feel a sense of deep peace and timelessness. In fact when one winds along a tiny path, to the tune of bird calls and goat bleats and sees a young boy looking after his flock there is a feeling of something positively magical about this island you will not find any where else.

The Canouan Beach Hotel is built on a spectacular beach whose golden sand leads into miles of luminous pale turquoise sea, broken only by the white surf along the shore. To cap it al] there is a lovely view southwards over the Grenadines. The overall plan for the hotel is ambitious and includes a marina with its own shopping center. For the next year the hotel should be running with 43 rooms. Cottage style, each room is air conditioned with its own bathroom and patio.

Activities include sailing, snorkeling, volleyball, table tennis and day sails to other islands.

For those preferring something more local there are two other possibilities. The Crystal Sands Hotel, set right on the beach in the main bay is low-key with 10 cottage style rooms and a smal-1 bar /restaurant. Otherwise there is a charming and inexpensive little guest house perched on ' top of a hill with spectacular views al] around. Called "Villa Le Bijou", the guesthouse is a little gem beautifully designed with textured walls of stone and pebbles and 6 simple, clean rooms.

Canouan has its own airport with night landing facilities. There are regular scheduled flights from St. Vincent on Air Martinique.

Mustique Air Ways and Air St. Vincent also provide a charter service.

Those who wish for the adventure of travel by sea can get to the island on Mondays and Thursdays aboard the MV Snapper. The boat leaves the Grenadines wharf in Kingstown at 9:00 am and arrives in Canouan at 2:00 pm the same day.

For further information contact the Tourism Department at Tel: 71502.

Union Island With its colorful bustling Harbour and small airport is the center of the lower Grenadines. The Island has a dramatic mountainous outline highlighted by the "pinnacle", a thousand foot high mountain so steep that from some angles it looks like a cathedral spire. There are many beaches and the era are brightly colored from pale green through surrounding waters turquoise to aquamarine.

There are three Harbour-side hotels, all in Clifton, Union's main port.

At the top of the line is the attractive Anchorage Yacht Club set in about 20 acres of water front property. The main complex with their good restaurant, bar, snack bar and boutique is pleasantly situated on the waterfront. Anchorage’s grounds which includes a large fish pool, are nicely gardened with palm trees flowers. In this setting one finds the hotel rooms and beach cottages.

The Clifton Beach Hotel is an old-sty]e hotel with most of the snack bar and an open restaurant built by a fish pool over-looking the Harbour.

The Sunny Grenadines Hotel is set by the water front in a garden of palms and flowers. The rooms are comfortable and over look the Harbour. The Sunny Grenadines restaurant offers good inexpensive meals and has become the home from home fpr many of the. charter skippers. The hotel is also a charter yacht center, and day trips of all kinds can be arranged.

Evening attire is informal but bring a tie and jacket just in case. Bathing Suits and short shorts are not appropriate on the streets or in stores. Union Island and the Southern Grenadines have some of the best beaches, anchorages, fishing and diving grounds and sailing waters in the country.

Dive Anchorage on Union Island offers diving and a wide rangy of water sports. They also offer trips to other islands from Union Island.

Union Island has its own Airport. There are regular scheduled flights in and out of the island on LIAT, Air Martinique and Inter-Island Air Services thus allowing easy and frequent connection to other international airlines in Barbados, St. Lucia and Grenada. Mustique Airways & St . Vincent Airways & St. Vincent Airways operate Charters Services.

Union Island is the Entry Port at the Southern end of the Grenadines and is probably the best place to base yourself if you plan to spend your time sailing between Mayreau, Tobago Cays, Palm Island, Canouan and Petit St. Vincent.

For further information contact The Department of Tourism Tel: 71502 or Union Is. Tourist Bureau Tel: 835º

Arrangement of sections

Section

1. Short tittle and commencement
2. Interpretation
3. Registration
4. Improvements approval orders
5. Expansion approval orders
6. Hotel construction approval order
7. Refusal no bar
8. Printed material promoting tourism
9. Prohibited use of building materials, etc.
10. Authorized disposal of building materials, etc.
11. Inventories
12. No transfer without approval
13. Revocation of orders
14. Amendment of Act 2 of 1979
15. Regulations

An act to provide incentives for the renovation, refurbishment and expansion of existing hotels, the construction of new hotels and for matters incidental thereto and connected therewith.

(14th June, 1988)

Be it enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the House of Assembly of Saint Vincent and the Grenadines and by the authority of the same, as follows:

(1) This Act may be cited as the Hotels Aid Act, 1988, and, subject t the provisions of subsection (2) shall come into operation on the 1^st. May, 1988.

(2) Any person desiring to register a hotel may apply under section 4 to the Minister at any time after the publication of this Act in the Gazette and the Minister may deal with such application. No registration shall take effect until the coming into operation of this Act.

(1) In this Act, unless the context etc. otherwise requires -

"aid" includes a licence, a provisional licence and a special licence, granted under the 1969 Act and any order granted under sections 4, 51 6, or 8, of this Act;

"articles of hotel equipment" means such articles as may be prescribes by regulations;

"comptroller" means the Comptroller of Customs and Excise;

"guestroom" means a bedroom for the occupation of quests in a hotel;

"hotel" means any establishment consisting of one or more geographically proximate buildings together containing:

1. not less than five guestrooms for accommodation for reward, with central dining facilities and stiff service; or
2. not less than five self-contained apartments each having an area and facilities for private cooking and dining; or
3. a combination of the facilities describes in paragraphs (a) and (b) amounting to not less than five rooms and self-contained apartments in any combination,

Under single management and includes the curtilage of such building or group of buildings;

"Minister" means the Minister of Trade;

"person" includes a corporation, syndicate or partnership wheresoever formed or incorporated and however styled;

"the 1969 Act" means the Hotels Aid Act, 1969.

(2) On or after the 1^st May, 1988, the grant of aid in respect of hotels shall be in accordance with the provisions of this Act and not with the provisions of the 1969 Act.

(3)Notwithstanding anything in subsection (2), the 1969 Act shall continue to apply in respect of any hotel which has been granted aid under a licence made under that Act and which is in force at the coming into operation of this Act, but no further aid shall be granted under that Act.

(4) Nothing in subsection (3) shall preclude an application for aid being made under this Act in respect of a hotel which has previously been granted aid under the 1969 Act; provided that where aid granted under the 1969 Act is being received in respect of a hotel, an application for aid under this Act in respect of that hotel shall not be granted until the aid granted under the 1969 Act has ceased to be applicable or has been renounced i respect of that hotel (by whatever name called or regardless of any change in management thereof), to the intent that no hotel shall enjoy aid under both the 1969 Act and this Act at one and the same time.

(5) Where income tax concessions under the 1969 Act have been grated in respect of a hotel, and further income tax concessions under this Act are granted in respect of that hotel, the aggregate period of the income tax concessions granted in respect of that hotel under both Acts shall not exceed fifteen years.

(6) Any application for aid under the 1969 Act, which is pending on the coming into operation of this Act, shall be treated as an application under this Act.

(7) Any reference in this Act to a person to whom an order has been granted means, where the order has been transferred with approval, the person to whom the order has been so transferred.

(1) For the avoidance of doubt a hotel is not required to be registered under this Act in under to carry on business as a hotel.

(2) A hotel shall not be eligible for aid under this Act, nor for continuing aid under the 1969 Act, unless it is registered in accordance with the provisions of this section.

(3) Registration shall not entitle a hotel to the grant of aid, but a registered hotel, whether granted aid or not, may use the expression , "registered hotel' in its business dealings and promotional activities.

(4) A person desiring to register a hotel shall send to the Minister, not less than one month before the date on which it is desired that the registration shall take effect, the following information -

1. the date on which the registration is to take effect;
2. the name of the hotel which is to be registered;
3. the address of the hotel;
4. the total number of guestrooms or apartments for each kind;
5. the total number of guestrooms with private bathroom;
6. the recreational facilities provided;
7. the prices which are t he charged to quests;
8. the name of the owner, proprietor and manager of the hotel;
9. such other information as may be prescribed by regulations.

(5) Upon the receipt of an application the Minister may register the hotel and issue a certificate of registration unless he is satisfied that the hotel which it is desired to register is not a proper place for the accommodation of quests.

(6) Any person who uses the word "registered' iii relation t a hotel which is not registered shall be guilty of an offence and liable to a fine of five hundred dollars.

(1) A person who, at any time after the registration of a hotel, intends to improve the registered hotel, whether by repair, renovation, expansion, the replacement of existing facilities or otherwise, shall notify the Minister and may apply for such concessions as may be available under this Act,

(2) The Minister shall consider every application r further concessions and may either –

1. grant concessions in respect of all or some of the building material and articles of hotel equipment for which it is sought, and subject to such conditions (including conditions as to the time within which such materials or articles are to be imported or purchased), if any, as he thinks fit; or
2. refuse the application.

(3) Upon the grant of concessions, the materials and articles of hotel equipment to which the order relates may, subject to any conditions container in the order, be imported into Saint Vincent and the Grenadines free of customs duty and of consumption tax or, if purchased in Saint Vincent and the Grenadines, be purchased free of consumption tax. When customs duty and consumption tax have been paid on the materials or articles to which the order relates, the person to whom the order was granted may obtain, after purchase, the appropriate refund or drawback of such duty or tax.

(1) A person who intends to add not less than five guestrooms and/or apartments to a hotel shall, if he is desirous of obtaining benefits under this Act, apply for an expansion approval order.

(2) An application for an expansion approval order shall be made to the Minister and shall be in such form and contain such particulars as may be prescribes by regulations. The Minister may, on receipt of such an application, request such further particulars as he may deem necessary.

(3) Every application for an expansion ,approval order shall be referred by the Minister to Cabinet.

(4) Cabinet shall consider every application for an expansion approval order and may either -

1. grant of an expansion approval order; or
2. refuse the application.

(5) An expansion approval order may include an income tax exemption order for such period as may be specified therein, not exceeding the period specified in subsection (6), on the profits attributable to such expansion calculated in accordance with subsection (7).

(6) The maximum period for an income tax exemption order under this section shall be -

1. where the number of additional guestroom and/or apartments is not less than five nor more than nine, nine years;
2. where the number of additional guestrooms and/or apartments is more than nine but not more than thirty five, ten years;
3. where the number of additional guestrooms and/or apartments is more than thirty five, fifteen years.

(7) An income tax exemption order under this section shall apply to the profit attributable to such additional guestrooms and/or apartments, such profit being deemed to be such proportion of the profits of the whole hotel as the proportion of the additional guestrooms and/or apartments bears to the total number of guestrooms and/or apartments after the construction of such additional guestrooms and/or apartments.

(8) The period of an income tax exemption order under this section shall commence from the date of the completion of the approved extension.

(9) An income tax exemption order under section shall be in such form as may be prescribed by regulations.

(10) An expansion approval order may include a customs duty and consumption tax exemption in respect of building materials and articles of hotel equipment to be used in such expansion, and the provisions of section 4 (2) (a) and 4 (3) shall apply to a customs duty and consumption tax exemption order as they apply to an improvements approval order.

(11) A customs duty and consumption tax exemption order under this section shall be in such form as may be prescribes by regulations.

(1) A person who intends to construct a with not less than ten guestrooms and/or apartments (or, in the case of a person who is a citizen of Saint Vincent and the Grenadines, with not less than five guestrooms and/or apartments) shall, lf he is desirous of obtaining benefits under this Act, apply for a hotel construction approval order.

(2) An application for a hotel construction approval order shall be made to the Minister and shall be in such form and contain such particulars as may be prescribes by regulations. The Minister, may, on receipt of such an application, request such further particulars as he may deem necessary.

(3) Every application or a hotel construction approval order shall be referred by the Minister to Cabinet.

(4) Cabinet shall consider every application for a hotel construction approval order and may either -

1. grant a hotel construction approval order; or
2. refuse the application.

(5) A hotel construction approval order may include an income tax exemption order for such period as may be specified in the order, not exceeding the period specified in subsection (6), on the profits or the hotel during such period.

(6) The period for an income tax exemption order under this section shall be –

1. where the number of guestrooms and/or apartments is between five and twenty, ten years;
2. where the number of guestrooms and/or apartments is between twenty one and thirty four, twelve years;
3. where the number of guestrooms and/or apartments is thirty five or more, fifteen years.

(7) The period of an income tax exemption order under this section shall commence from the date of the opening of the hotel for business.

(8) An income tax exemption order, under this section shall be in such form as may be prescribes by regulations.

(9) A hotel construction approval order may include a customs duty and consumption tax exemptions, order in respect of building materials and articles of hotel equipment to be used in such constructor and the provisions of section 4 (2)(a) and 4(3) shall apply to a customs duty and consumption tax exemption order under this section as they apply to an improvements approval order.

(10) A customs duty and consumption tax exemption order under this section shall be in such form as may be prescribes by regulations.

For the avoidance of doubt, the act that an application for an improvements approval order under section 4, an expansion approval order under section 5 or, a hotel construction approval order under section 6 has been refused shall not preclude the applicant from improving, expanding or constructing a hotel, but such improvement, expansion or construction shall not attract aid under this Act.

(1) A person may apply to the Minister for a tourism promotion material exemption order in respect of printed material the prime purpose of which is to promote the tourist attractions of Saint Vincent and the Grenadines.

(2) An application for a tourism promotion material exemption order shall be in such form and contain such particulars as may be prescribed by regulations. The Minister may, on receipt of such application, request such further particulars as he may consider necessary.

(3) The Minister shall consider every application for an order under this section and may either -

1. grant a tourism promotion material exemption order in respect of some or all of the printed material for which if is sought including conditions as to the time within which such material shall be imported, if any, as thinks fit; or
2. refuse the application.

(4) An order under this section shall be in such form as may prescribed by regulations.

(5) Upon the grant of a tourism promotional material exemption order under the section the printed material to which such order relates may be imported free of customs duty a consumption tax.

(1) Where any building materials or articles of hotel equipment have been imported into or purchased in Saint Vincent and the Grenadines and such import or purchase has attracted relief by reason of an order under this Act, such materials or equipment shall not, except as authorized by the Minister under section 11, -

1. be sold, exchanged, given away or exported from Saint Vincent and the Grenadines; or
2. applied for any purpose other than in connection with the construction or equipping of the hotel to which the order relates.

(2) Any person who contravenes subsection (1) is guilty of an offence and liable on summary conviction to imprisonment for twelve moths and to a fine of fifteen hundred dollars and in addition shall be liable to pay customs duty and consumption tax due thereon.

(1) Where the Minister is satisfied that any building materials or articles of hotel equipment which have been imported into Saint Vincent and the Grenadines and such importation or purchase has attracted relief by reason of an order, under this Act, are no longer for the purpose in respect of which the order was made, he may authorise, in writing, the person to whom the order was granted, to dispose of such materials or equipment in such manner and upon such conditions as he may think fit.

(2) No authority shall be granted under subsection (1) within three years next after the date of importation into or purchase within Saint Vincent and the Grenadines of the materials or articles unless the person to whom the order was granted –

1. paid to the Comptroller: or
2. given security to the satisfaction of the Comptroller that he will pay to the Comptroller.

All sums that would have been payable by way of customs duty or consumption tax upon the importation of such materials or articles or a sum equivalent to the amount of drawback or refund paid in respect of such materials or equipment.

(1) Where any articles of the hotel equipment have been imported into or purchased in Saint Vincent and the Grenadines and such importation or purchase has attracted relief by reason of an order under this Act, the person to whom the order was granted shall make an inventory of all such articles or equipment and such inventory shall be kept for such period as may be required by the Comptroller.

(2) An inventory under subsection (1) shall be in such form as may be prescribes by regulations.

(3) An inventory under subsection (1) shall be open to inspection at all reasonable hours by any person authorized by the Comptroller in writing for that purpose, and the person so authorized may do all acts or things necessary to satisfy himself that the articles enumerated in the inventory are upon the premises of the hotel at the time of his inspection.

1. An order under this Act shall not be transferred without the approval of approval of –

1. in the case of an order under section 4, 5, or 6, Cabinet;
2. in the case of an order under section 8, the Minister.

(2) An application for a transfer approval order shall be made to the Minister and shall be in such form and contain such particulars as may be prescribes by regulations. The Minister may, n receipt of such an application request such further particulars as he may deem necessary.

(3) Every application for a transfer order which requires the approval of Cabinet shall be referred by the Minister to Cabinet.

(4) Cabinet shall consider every application referred to it and may either -

1. grant a transfer approval order subject to such conditions, if any, as it thinks fit; or
2. refuse the application.

(5) The Minister shall consider every application for the transfer of an order under section 8 and may either -

1. grant a transfer approval order subject to such conditions, ii any, as he thinks fit; or
2. refuse the application.

(6) Transfer approval order shall be in such faro as may be prescribe by regulations.

(1) Cabinet or, in the case of an order granted under section 8 the Minister, may make an order if -

1. any condition subject to which the order was granted has not been complied with;
2. where the order has been transferred with approval, there has been a breach of any condition subject to which the transfer approval order was granted;
3. any false or fraudulent claim has been made in r-elation to exemption from or refund of customs duty or consumption tax, or in relation to income tax;
4. there has been a serious breach of any law of Saint Vincent and Grenadines in relation to the hotel in respect of which the order was granted;
5. any Act or regulation relating to public health has not been observed in relation to the hotel in respect of which the order was granted;
6. the hotel has ceased to be registered; or
7. there has been a breach of this Act or of any regulations made thereunder or of any requirement of the Comptroller.

1. No order shall be revoked unless the person to whom it was granted has been given an opportunity to appear before the Minister and show cause why the order should not be revoked. All evidence given at such hearing shall be recorded in writing.
2. After a hearing under subsection (2), the Minister shall, other than a hearing in respect an order under section 8, refer the matter to Cabinet.

(4) Any person aggrieved by any decision of the Minister or of the Cabinet may apply to the High Court for such relief as the High Court may deem fit to order; provided that the decision of the High Court on such application shall be final. The Minister and the Cabinet shall give effect to any order made by the High Court pursuant to the power conferred by this provision.

The Income Tax Act, 1979, is amended as follows -

1. in section 26, by the addition of a new subsection as follows: " (9) This section shall only apply to a hotel Which, on the 1^st May, 1988 is licensed or provisionally licensed under the Hotels Aid Act, 1969"
2. by the insertion, immediately after section 26A, of a new section as follows: "Exemption under Act of 1988 - 26B. The income of a hotel in respect of which an income tax exemption order has been granted under section 5 or 6 of the Hotels Aid Act, 1988, shall, whilst such order is in force, be exempt from income tax for the period stated in such order and to the extent stated in that Act".
3. in paragraph 2 (2) (b) of Part Il of the Second Schedule –

1. in subparagraph (ii), by the deletion of "air conditioning units";
2. by the insertion, immediately after subparagraph (iii) of two new subparagraphs as follows –

• all furniture, fittings and equipment in hotels (other than items falling within subparagraph (v); 25%
• refrigerators, coolers, freezers, ice-makers, air conditioning units and controls, equipment for processing and storing and drink, 33 1/3%; and

1. by renumbering the existing subparagraphs (iv) and (V) as subparagraphs (vi) and (vii).

The Cabinet may cake regulations generally for effecting the purposes of this Act. Passed in the House of Assembly this 7th day of April 1988.

St. Vincent and the Grenadines welcomes all serious investors to our shores. Foreign investors in Industry are particularly welcome for its Caribbean, North American and European markets to which we have preferential access through various agreements.

We have a responsible and easily trained work force. Our fiscal situation is stable, and our credit worthiness, established by sensible macro-economic policies over the last seven years, has assisted us in building up a sound infrastructure.

Ours is a good relaxation. Top management employed in our country has easy access to pleasant environs for weekend relaxation.

We recognize that we are in tire period of greatest technological change in production and are prepared to work to take advantage of change to keep ourselves competitive.

Again, welcome.

J.F.Mitchell

Prime Minister

DEVCO was established in 1970 by an Act of Parliament. Its role is to stimulate investments in the productive sectors of the economy of St. Vincent and the Grenadines. DEVCO's functions include development banking through which it provides loans to the Manufacturing, Tourism and Agricultural sectors as well as student loans for higher education.

DEVCO is also an investment promotion agency and it takes care of the needs of all serious investors in establishing projects in the state.

DEVCO develops, constructs and manages industrial estates. Its main estate is the 30 acre Campden Park Estate en which it constructed 178,000 sq.ft. of factory space. A new industrial estate to be built at Diamond, about 7 miles from the Capital, Kingstown, will also be managed by DEVCO.

Size: 30 acres

Building sizes: 6,000, 10,000, 12,000, 20,000 sq.ft.

Industry type: light manufacturing.

Current rental rates: US$2.50-53.00 per sq.ft. per year.

Size: 41.25 acres

Industry type: light manufacturing.

DEVCO also owns a 12,000 sq.ft. factory building in Kingstown, the Capital, and a 6,000 sq.ft. building in Calliaqua, a town on St. Vincent's south coast.

All DEVCO's buildings are leased from a minimum of 5 years - 15 years in the first instance with an option for renewal.

St. Vincent and the Grenadines has a progressive system of taxation on personal income. Companies granted Fiscal Incentives are exempt from paying corporate tax but foreign nationals working in St. Vincent and the Grenadines are subject to the same tax rates as nationals.

Income tax is levied en all persons whose chargeable income is more than ECSIO,000 (USS3,703) per annum. Rates range from 10% to 55% of chargeable income.

Reflecting an excellent climate, most leisure activities are outdoors. Our national sports are cricket and soccer. We have an excellent golf course, and first-class lawn tennis and squash courts.

For those who enjoy biking and rnountaineering, the steep slopes of the majestic La Soufriere volcano towering to about 4,000 ft will be a good physical challenge while enjoying the verdant vegetation of the surrounding hills as you inch your way to its peak.

The Vermont Nature trail with its beautiful flora, birds and the delightful St. Vincent parrot (Amazona Guildingii) is a must for nature lovers.

Swimming, scuba-diving and sailing are also popular with residents and visitors as our numerous beaches throughout the islands offer quiet and sale recreation. Equipped with mask, snorkel and fins, one can explore the coral reefs which often lie just a few yards from shore teeming with many varieties of colored tropical fish.

The following overseas offices have responsibilities for promoting tourism, trade and investment on behalf of St. Vincent and the Grenadines:

1. St. Vincent and the Grenadines Consulate, 42 East 42nd Street, New York, N.Y. 10017 Tel: (212) 687-4490. Fax: (212) 239-1002
2. St. Vincent and the Grenadines Tourist Office 14347 Haymeadow Circle, Dallas Texas 75240 Tel: (416) 971-9666. Fax: (416) 971-9667

1. St. Vincent and the Grenadines Tourist Office Suite 504, 100 University Avenue Tel: (416) 971-9666 Fax: (416)971-9667
2. Eastern Caribbean Commission Place de Ville, Tower "B" Suite 701, 112 Kent Street, Ottawa, Ontario KIP 5PE Tel: (613) 236-8952

1. Eastern Caribbean Commission 10 Kensington Court, London W8 5DL Tel: 071-967-9522
2. East Caribbean Tourist Association 15B Thayer Street, London WIM 5LD Tel: 071-486-9119

The economic and political stability of St. Vincent and the Grenadines have enhanced the quality and development of professional services.

Commercial Banks currently established in St. Vincent and the Grenadines are:-

• National Commercial Bank of St. Vincent and the Grenadines.
• Barclays Bank PLC.
• Bank of Nova Scotia Limited.
• Canadian Imperial Bank of Commerce Limited.
• Caribbean Banking Corporation Limited.

Accounting firms provide sound financial services, expert advice en, and installation of, management information systems.

St. Vincent and the Grenadines has a vibrant insurance sector encompassing both local and foreign companies. These provide a wide range of services, and through re-insurance with larger overseas companies, are able to protect the insured against almost any liability.

The legal system is based on the English Common Law, and the highest Appellate Court is the judicial Committee of the Privy Council which sits in the United Kingdom.

Businesses are established and operated in Saint Vincent and the Grenadines by one or more individuals either as sole proprietorships, as Public Companies registered under the provisions of the Companies Act, as well as Companies incorporated outside of the State of St. Vincent and the Grenadines.

"Companies limited by shares" are commonly referred to as limited liability companies. These are the type most favored by the foreign investor as they are the counterparts of the American and Canadian Corporations.

The ownership of land by foreigners is governed by the Aliens Land Holding Ordinance. All foreign nationals wishing to acquire land in the State must obtain a licence from the government. Licence applications fall into two categories: those involving an acre of land or less; and those involving more than one acre of land. For an acre of land, the application must contain the following:

1. An approved plan for development;
2. Execution of conveyancing;
3. Completion of conveyancing within 6 months.

For more than one acre of land , the following information must be provide: a development plan for the entire area; physical and architectural aspects; details of financing; and tire labour force to be employed.

The St. Vincent Electricity Services Limited VINLEC) is responsible for the supply of electricity. The current installed capacity exceeds the current average demand and is adequate to meet the country's new domestic and industrial demands well into the 90's.

Industrial - A.C. three phase, 44OV, 50 cycles. Domestic - A.C. single phase, 220 V, 50 cycles.

Standard Tariff. Industrial - US$O.15 per kwh plus variable surcharge.

St. Vincent and the Grenadines has an abundant supply of water as the level of rainfall is high.

Fixed monthly charge of US$3.70

Metered - US$3.70 per 1000 gals.

There are 580 km of al]-weather surfaced roads to handle heavy traffic which allow for the free flow of goods and services between the various centers of economic activity and also facilitate the movement of workers to the industrial estates.

AIR: The E.T. Joshua Airport located on St. Vincent's South coast has a modern terminal building, night landing facilities, and accommodates small aircraft such as the BAE 748 Avro.

SEA: The port of Kingstown is a natural deepwater Harbour with good modern facilities to accommodate international commercial shipping. The port handles 20ft and 40ft containers and has efficient heavy- lifting equipment,

Saint Vincent and the Grenadines provides generous fiscal and other incentives and welcomes all serious investors to take advantage of the many investment opportunities. Such opportunities exist in light manufacturing, agri-business and tourism. We encourage joint ventures between foreign and local investors.

The availability of a large pool of literate and numerate workers, who are easily trained and eager to learn makes light manufacturing a natural for St. Vincent and the Grenadines. Industries which could provide substantial benefits to investors include: Garments and accessories, Wooden toys and plastic products, Furniture, handicrafts, boat-building and electronics.

St. Vincent and the Grenadines has a rich fertile soil and most tropical products can be commercially grown. Agriculture is the single largest contributor to GDP of which banana is the chief crop. Major areas for consideration include:- Food processing, e.g., manufacture of breakfast and baby foods from bananas, Fishing and Fish processing, Aquaculture, Horticulture (cutflower and exotic plants, orchids and shrubs), Processing of fruits, juices, jams, jellies and syrups.

Tourism is considered the sector with the greatest growth potential. Widely recognized as the most delightful and unspoiled vacation spot in the Caribbean, St. Vincent and the Grenadines has much to offer including the oldest Botanical Gardens in the Westem Hemisphere.

The up-market tourism sector is targeted and several opportunities exist for investment in the development of hotel properties and leisure time activity facilities.

St. Vincent and the Grenadines has an educated English speaking and highly productive labour force.

National Insurance Contributions for salary up to EC$20,040 (IJSS7,422 per annum:

Trade Unions are active in St. Vincent and the Grenadines and are quite mature and responsible. Unions tend to negotiate contracts of 2-3 years which help to enhance the industrial relations environment in the enterprise.

Legislation provides for paid holidays from 6 days to a maximum of 14 days per annum for employment with an industrial or commercial company, and 5-10 days for agricultural workers.

There are about 12 official holidays for which workers are entitled to be paid and which include Christmas and Easter.

Legislation provides for severance pay at the rate of two weeks pay for each year of continuous service for employees with a minimum of 2 years service.

Work permits are granted to management and technical personnel where there are no qualified nationals to fill a vacancy. Enterprises re encouraged to train nationals to occupy senior positions. This aspect of social responsibility enhances the acceptance of the enterprise as a good corporate citizen.

St. Vincent and the Grenadines has a modern telecommunications system which provides direct-dialing to all parts of the world via satellite. Telex and fax services are also provided.

U.S./Canada of $2.03 per minute

U.K. and Europe of S2.96 per minute

There is a 10% Government tax en all international telephone calls.

St. Vincent and the Grenadines is rated as being extremely efficient in mail handling and ranks high in the World in this field.

Movement from one part of the island to the other is facilitated by the numerous private minibuses which ply the major routes throughout the Island. There ¡S a daily sea ferry service to most of the Grenadines. There are several car rentals agencies and a valid driver's licence qualifies one for a local driving permit.

The main airport, E.T. Joshua, is not an international airport but regular air services are provided by Leeward Islands Air Transport (LIAT) and Eastern Caribbean Airways.

A regular and efficient service is provided between St. Vincent and major international ports in North America, Europe and the Caribbean. Shipping lines such as Geest, Bernuth, Tec Marine, Trailer Marine Transport and Nedlloyd operate frequent and efficient services from North America and Europe.

Federal Express, DHL and LIAT Quickpak also provide efficient courier services to and from international destinations.

St. Vincent and the Grenadines benefits from the following trade agreements: The Generalized System of Preferences (GSP), the Caribbean Basin Initiative (CBI), the ACP-EEC Convention of Lome (Lome IV), Caribbean-Canada Free Trade (CaribCan), the Caribbean Community Common Market (Caricom).

Under this preferential trading arrangement, products from St. Vincent and the Grenadines can enter duty-free or at significantly reduced rates of duty into the USA and Canada.

The CBI allows duty free entry to most products originating from CBI beneficiary countries into the U.S.A. Certain products are excluded from duty-free treatment: textiles and apparel, leather goods, petroleum, sugar and sugar products, and canned tuna.

The Canadian-Caribbean trade Agreement (CARIBCAN) gives similar benefits to Caribbean beneficiary countries as under the CBI The Rules of Origin requirements are that a minimum of 60 percent of the ex-factory price of the goods must originate in any of the beneficiary countries. CARIBCAN has similar exclusions as under the CBI.

The Lome IV agreement extends preferential treatment which includes duty-free and quota-free restrictions into the European Community for products from St. Vincent and the Grenadines.

Products originating in St. Vincent and the Grenadines have duty-free access into the 13 member English speaking Caribbean Community Common Market.

Articles assembled abroad in whole or in part of fabricated U.S, components are dutiable on the full value of the imported article less the value of U.S. components, provided that certain conditions that do not change the physical identity of the assembled article have been met.

St. Vincent and the Grenadines is an independent country in the Eastern Caribbean which include the islands of St. Vincent, Bequia, Union, Mustique, Canouan, Palm Island and Petit St. Vincent.

Location: 100 miles West of Barbados; 1,300 miles from Miami.

Capital : Kingstown

Currency: East Caribbean Dollar

Exchange Rate: EC$2.70 to USSI.00 (Fixed)

Land area: 388 sq.km. (150 sq. miles)

Mountainous interior, rising over 4,000ft in the North with a sheltered and indented coastline on the Leeward coast,

Tropical, with a mean temperature of about 26 C, a wet season from June - November and a dry season from December - April.

Population: 114,000 (1989)

Language: English

Ethnic Origin: African, Carib, East Indian, European

The Education system is based on the British. Primary and Secondary education is provided and there is also a Technical College.

There are very good health facilities. The government run School of Nursing trains local and regional nurses.

Agriculture is the mainstay of the economy with bananas being the chief crop. There are light manufacturing industries which include: flour, rice, animal feed, feed and other beverages.

Gross Domestic Product (1989): US$144.6m

Per Capita Income (1 989): US$1,268

The Fiscal Incentives Act specifies five groups of enterprises which are eligible for tax holidays. The length of the tax holiday depends on: (a) the amount of the value added to a product in St. Vincent and the Grenadines; (b) Where production is geared entirely to extra-regional markets, ¡.e. enclave industries producing for hard currency markets; (c) A minimum level of capital investment, ¡.e. capital intensive of not less than US$9.25M.

Companies which qualify for tax holidays are allowed to import duty-free all equipment, machinery, spare parts, and raw materials used in production.

Generous incentives are given to the hospitality industry under the Hotels Aid Act of 1988. Under the Act import duties on equipment and furnishings whether for improvement, expansion or new construction are waived. Tax holidays range from 9-15 years. A casino licence may be granted to a hotel with 100 rooms and more constructed en mainland St. Vincent.

Foreign investors are allowed to repatriate their profits but are encouraged to reinvest proportions of their earnings in St. Vincent and the Grenadines.

The philosophy of the government of St. Vincent and the Grenadines is that private investment under a free market system is the vehicle to achieve the development goals of the country. Private Property is a guaranteed right in the St. Vincent and the Grenadines Constitution,

Persons applying for work permits in St. Vincent and the Grenadines pay the following fees annually:

1. Comrnonwealth Caril)bean Citizens US$224
2. Other persons US$560
3. Skilled persons in categories 1 or 2 US$150

These incentives which apply to hotels, guest houses, and apartments are for a waiver of corporate taxes and import duties on equipment and furnishings whether for renovation refurbishment, expansion of existing hotels or constructor of new ones.

Storage (any size container) $5.52 per day.

3-5 tons $11.00

51/2 - 10 tons $18.40

Over 10 tons $36.80

From Port Kingstown to Campden Park Estate.

20' container $111 - $129

40' container $132 - $138

1. Requirements For Residence

Persons wishing to reside in St. Vincent and the Grenadines are required to:

1. Complete a Residence Application form and return it to the Ministry of Foreign Affairs along with two (2) passport-size photos. The current application lee of EC$100 (US$37) is payable.
2. Forward a Police Certificate of Character from the count where the applicant has most recently resided for a period in excess of six (6) months.
3. Provide evidence of the applicant's current financial resources. The applicant may submit a letter of support from an individual or from his employer accepting financial responsibility for him.
4. Provide a Medical Certificate.
5. Pay the required resident fee.

2. Residence Fees

For temporary residence - Fees per annum.

1. Caricom Citizens US $112.00
2. Other CommonWealth Citizens US $224.00
3. Other US $373.00

For Permanent residence - Fees per annum.

1. Caricom Citizens US $445.00
2. Other CommonWealth Citizens US $667.00
3. Other US $889.00

There is a standard deduction of $3,703.00 per annum. However, the tax payer can choose to itemize deductions for mortgages, insurance etc., if such deductions are greater than the standard amount.

The annual taxable rates are as follows US$:

The kitchen waste water disposal system must be provided with grease traps. All garbage en the site are to be collected, stored and disposed of in a manner approved by the Public Health Authority.

As early as 1976, St. Vincent & The Grenadines (SVG) enacted the first laws allowing the formation o international companies, insurance companies, trusts, and banks. The SVG Government enlisted the expertise of Swiss lawyers to draw up the first legislation that established the St. Vincent Trust Service in Europe for the purpose of marketing SVG as an off-shore centre.

In 1993, the appointment of a new president and management team of the St. Vincent Trust Service resulted in a tripling of the business volume and made evident that the existing legislation required an extensive revision.

The legislation, which passed the House of Assembly by an unprecedented unanimous vote, was one of the most comprehensive packages of offshore legislation ever passed. It heralds a new era for St. Vincent as a modem, technology-based international finance centre.

The Confidential Relationships Prevention (International Finance) Act, 1996, controls and sanctions unauthorized disclosures of information relating to offshore clients. Confidentiality in financial services, originally developed by the Swiss through their hallmark bank secrecy protocols, and later refined and mandated by the Cayman Islands in legislation, has found its most concrete expression in the new Vincentian Act, which is arguably the most restrictive confidentiality law in the world today,

Security for the end client has become one of the most important factors in the offshore industry. Increasing numbers of jurisdictions require that the beneficial owner be registered with the authorities. The registration of International Business Company and other vehicles by electronic mail will be possible by the use of encrypted data. This will not, however, exclude traditional services where required.

The new laws afford a St. Vincent IBC unique flexibility. This flexibility starts with immediate name clearance and continues throughout the registration period of the company. Names may be used to reflect the word limited, corporation, société anonyme, sociedad anónima, company limitada, societé par actions, or Aktiengesellschaft, or abbreviations such as Ltd., Corp, Inc, A/S, AG, NV, BV, GmbH, SA, or any other words or abbreviations that signify limited liability. Documents required under the law may be submitted in a foreign language provided a certified translation is attached.

Standard, simple articles of incorporation are on the public record, whereby the operational aspects and rights of the shareholders, directors, meeting, etc., are determined in the by-laws, which are not on the public record.

just a few of the enormous advantages clearly defined and pursuant to the new company law are allowance for: one-director companies, whereby the director may be a corporate entity not domiciled in the jurisdiction; meetings held outside of the jurisdiction; all types of known shares (including bearer shares) and sweeping share rights; the power to issue options, warrants, or instruments of that nature; the purchase and redemption and holding of own shares; single shareholder companies; no annual filing obligations or returns; capital and shares in a foreign currency; no minimum capital; generous objects or purposes; and a certificate of tax exemption for up to 25 years.

Also, the type of companies that may be formed include a company limited by guarantee, which can be used as corporate trust vehicles. Instead of forming a trust, therefore, ¡t is possible to use this vehicle as a form of discretionary trust. In fact, it can be used in the place of foundations.

The new legislation also allows an unlimited company, as well as a limited duration and limited liability company. The practitioner operating with US clients will particularly appreciate the ramifications.

International insurance companies may - at this time - continue to be formed under the IBC act as under the previous act and, in St. Vincent, the use of private captive insurance companies remains popular.

Although the old legislation included the possibility of registering banks, practically no banks have been accepted for registration under the act since 1982. It was decided a more comprehensive act was required for the protection of all concerned.

The new Banks Act for banks not undertaking business within the territory of St. Vincent allows, basically, two types of banks: Class I banks are those institutions that may do business with non-residents, provided the paid-in capital is higher than US$500,000, ¡.e., a classic bank institution. Class II banks are those institutions limited to only doing business with an identified group of depositors, provided the paid-in capital equals or exceeds US$100,000, ¡.e., the classical private bank institution.

The due diligence and application of the Basle principles underlines St. Vincent’s intention to be very restrictive in issuing bank licenses.

The new Trusts Act combines the best features of international trust law in force at the time of drafting and is designed to appeal to potential clients from common-law jurisdictions and civil law countries alike. There are many definitions covered in the new Trusts Act that have not been included in existing laws, as well as reflecting all previous accepted trust law principles.

Reflected in the law are strict trustee confidentiality regulations combined with asset protection and freedom from forced heirship and community property laws. This virtually gives the settler statutory protection against creditors claims provided that no fraud can be proved in a St. Vincent court that the settler became insolvent by the disposition of the asset protected. Further protection in the respect is included by a truncated statutes of limitations for claims, etc., as well as the fact that a complaining creditor must fulfill high levels of proof supported by a deposit of US$25,000 before pursuing a claim against such a trust in St. Vincent.

The new Trusts Act offers the professional a full range of options when creating a trust under the new act and careful reading of the new act will show the extensive range available.

The new legislation reflects the best of various facets of legislation enacted by offshore jurisdictions over the past few years. The St. Vincent Trust Service established in St. Vincent and Europe (see advertisement on the facing page) will be delighted to assist with your enquires and to forward their full brochure.