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 investigations are conducted by the Royal Saint Vincent and the Grenadines Police Force. While there is public access to information, there are limited obligations for public officers to disclose financial information, and no penalties for failing to respond to disclosure 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 forecasting a 6% economic growth by the end of 2024. The government actively promotes foreign direct investment, particularly in sectors like renewable energy, tourism, and international financial services, while maintaining an open dialogue with investors through the Invest SVG agency.

Saint Vincent and the Grenadines actively promotes foreign direct investment (FDI), particularly in sectors such as renewable energy, tourism, and international financial services, facilitated by the Invest SVG agency. The government imposes no limits on foreign ownership and offers various incentives, including tax holidays and duty exemptions, to attract investors. Additionally, the legal framework supports transparency and equal treatment for both local and foreign investors.