St Vincent & Gren Country Summary

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 corruption, with the Director of Public Prosecutions and the Royal Saint Vincent and the Grenadines Police Force responsible for investigating allegations. While the country is a signatory to the Inter-American Convention Against Corruption, it lacks a specific timeline for public information disclosure and has no penalties for non-compliance. Criminal activities include limited human trafficking, a well-established cocaine trade, and increasing cyber crimes, with foreign actors primarily involved in drug trafficking, while the government is perceived as open and transparent despite challenges in access to information and judicial reform.

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, particularly in sectors such as 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 such as renewable energy, tourism, and international financial services, with no restrictions on foreign ownership. The government facilitates investment through the Invest Saint Vincent and the Grenadines Authority, which provides support and incentive packages for foreign investors, ensuring a transparent review process for investment projects.