St. Lucia Financial Services
Birth of the International Financial Centre
The Government of Saint Lucia on June 4, 1999 signed an agreement (the Establishment Agreement) with a private sector promoter, International Financial Partners (IFP) which formalized St. Lucia's entry into the international financial services industry. Government's approach to establishing the industry is unique as it is based on a private sector / Government partnership. This agreement outlines the strategic plan on which the development of the industry has been based.
The Agreement required the promoter to form a company known as Financial Centre Corporation (FCC) and the Government to form the International Financial and World Investment Centre (IFWIC), a 100% government owned company. The Government controls the operation of IFWIC.
Under the Establishment Agreement (EA), IFWIC is to provide the Registry for all companies and trusts registered under the international financial services legislation. The Registrar is employed by IFWIC upon the approval of the Minister.
For purposes of market acceptance and branding IFWIC is promoted as PINNACLE ST. LUCIA.