Serving and Supporting the Offshore Banking, Hedge Fund and Financial Service Community Since 2003 Saturday, July 31, 2010 
Offshore Library Home
Register For FREE!
Login Now
What is Offshore?
Offshore Library Knowledge Base
Offshore News
Offshore Banking Guide
Offshore Jurisdiction Guide
Offshore Library Win Win & Win Campaign List Free Hedge Funds, Offshore Banks and Offshore Businesses
How do I list on Offshore Library?
Overview
Benefits to Listing
Offshore Library Marketing Presentations
Members Screenshots Gallery
Video Demos
User Guides
List Now!

Follow us on Twitter

Find us on Linkedin

Find us on Facebook

Home > Offshore Jurisdiction Guide > St Vincent & The Grenadines



General Overview
Resistance by native Caribs prevented colonization on St. Vincent until 1719. Disputed between France and the United Kingdom for most of the 18th century, the island was ceded to the latter in 1783. Between 1960 and 1962, Saint Vincent and the Grenadines was a separate administrative unit of the Federation of the West Indies. Autonomy was granted in 1969 and independence in 1979.

Demographics
Most Vincentians are the descendants of African slaves brought to the island to work on plantations. There also are a few white descendants of English colonists, as well as some East Indians, Carib Indians, and a sizable minority of mixed race. The country's official language is English, but a French patois may be heard on some of the Grenadine Islands. St. Vincent is a rugged volcanic island with a 4000 foot volcano that dominates the northern third of the island. Very little of the island is flat, perhaps only the air strip, the shopping area of Kingtown, and a few isolated areas of beach are truely level.

Country name: Saint Vincent and the Grenadines
Capital Name: Kingstown
Population: 118,432 (July 2008 est.)
Nationality: Saint Vincentian(s) or Vincentian(s)
Languages: English, French patois
Ethnic Groups: Black 66%, mixed 19%, East Indian 6%, European 4%, Carib Amerindian 2%, other 3%

Economy
Economic growth slowed slightly in 2007 after reaching a 10 year high of nearly 7% in 2006, but is expected to remain robust, hinging upon seasonal variations in the agricultural and tourism sectors and a recent increase in construction activity. This lower-middle-income country is vulnerable to natural disasters - tropical storms wiped out substantial portions of crops in 1994, 1995, and 2002. In 2007, the islands had more than 200,000 tourist arrivals, mostly to the Grenadines. Saint Vincent is home to a small offshore banking sector and has moved to adopt international regulatory standards. The government's ability to invest in social programs and respond to external shocks is constrained by its high debt burden - 25 percent of current revenues are directed towards debt servicing.

GDP (purchasing power parity): $1.042 billion (2007 est.)
GDP - real growth rate: 6.6% (2007 est.)
GDP - per capita (PPP): $9,800 (2007 est.)
Inflation rate (consumer prices): 6.1% (2007 est.)
Exports: $193 million (2006)
Imports: $578 million (2006)

Government
St. Vincent and the Grenadines is a parliamentary democracy within the Commonwealth of Nations. Queen Elizabeth II is head of state and is represented on the island by a governor general, an office with mostly ceremonial functions. Control of the government rests with the prime minister and the cabinet.

Administrative divisions: 6 parishes; Charlotte, Grenadines, Saint Andrew, Saint David, Saint George, Saint Patrick
Legal system: Based on English common law; has not accepted compulsory ICJ jurisdiction
Constitution: 27 October 1979
Independence: 27 October 1979 (from UK)

References
Government of Saint Vincent and the Grenadines - Official Website
Central Intelligence Agency (CIA) - The World Factbook
Nation Master - World Data Center
Wikipedia - The Free Encyclopedia
Lonely Planet - Travel Guidebook


Offshore Data Systems Ltd. © 2010 | Privacy Policy | Terms Of Use