FATF Status

St Vincent & the Grenadines is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Saint Vincent and the Grenadines was undertaken in 2024. According to that Evaluation, Saint Vincent and the Grenadines was deemed Compliant for 13 and Largely Compliant for 17 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 3 of the Effectiveness ratings.

Saint Vincent and the Grenadines has laws against official corruption, which are generally enforced, and the country is a signatory to the Inter-American Convention Against Corruption. The Director of Public Prosecutions can prosecute corruption offenses, and the Royal Saint Vincent and the Grenadines Police Force investigates allegations, although there is no mandatory requirement for public officials to disclose financial information. While the law allows for public access to information, there are limited exceptions and no penalties for failing to respond to requests.

Saint Vincent and the Grenadines, a member of the OECS and ECCU, is recovering from recent natural disasters and the COVID-19 pandemic, with the IMF projecting a 6% economic growth by the end of 2024. The government actively promotes foreign direct investment in sectors like renewable energy, tourism, and international financial services, while maintaining an open investment climate without restrictions on foreign ownership.

Saint Vincent and the Grenadines actively promotes foreign direct investment (FDI), particularly in sectors like renewable energy, tourism, and international financial services, through the Invest Saint Vincent and the Grenadines Authority (Invest SVG). The government maintains an open policy towards foreign control, with no local ownership requirements, and offers various incentives to attract investments, especially in priority sectors. Additionally, the legal framework is based on British common law, ensuring a transparent and fair environment for both local and foreign investors.