Tax Incentives:
Up to 15 years profits tax holiday Duty free entry of raw materials, machinery
and spare parts Double taxation protection treaties with most countries
Unrestricted repatriation of profits and capital As a CBI beneficiary
country which has signed a Tax Information Exchange Agreement (TIEA) with
the United States, St. Lucia is eligible for below market rate financing
for eligible products through a 1986 amendment of Section 936 of the U.S.
Tax Code. Further, U.S. executives can claim a tax deduction on convention
expenses incurred in St. Lucia.
Trade Preferences:
Duty free entry into the U.S. for specified products under the Caribbean
Basin Initiative (CBI).* Criteria: (a) 35% local value added; (b) substantial
transformation of product required. (The 35% local value added criteria
may include the value of U.S. raw materials. The value of U.S. raw materials
must not exceed 15%f. Duty free entry into Canada for specified products
under CARIBCAN (criteria: 60% of local value added). Duty free entry into
EEC countries for most manufactured products under LOME IV Convention
(products have to meet added value criteria). Duty free entry into CARICOM
markets through CARICOM Agreement.
Wage Rates
Category - Rates (US$)
Apparel Industry:
- Sewing Machine Operator - 0.80/hour
- Supervisor -1.30/hour
- Office worker - 1.60/hour
- Mechanic - 1.90/hour
Information Processing Industry:
- Trainee - 1.00/hour
- Intermediate Operator - 1.10-1.25/hour
- Experienced Operator - 1.30-1.50/hour
- Work Inspector - 1.65/hour
- Assistant Supervisor - 1.75/hour
- Supervisor - 2.00-2.50/hour
- Labor is English speaking, and available in ample supply.
Electronics Industry:
- Electronics Assembler - 0.90/hour
- Technician - 1.50/hour
- Line Supervisor - 1.50/hour
Fringe Benefits (approximately 20% of wages)
- National Insurance (social security) 5%
- Paid Holidays 13
- Annual vacation (working days) 14
- Transportation allowance (optional)
- Attendance bonus (optional)
Training Assistance
- Training support : Government funded
- Training facilities : In-plant training
- Youth Skills Training Program is a government funded program which assists manufacturers in training persons on an ongoing basis for maximum periods of 12 weeks for each module. Training in information processing provided through the joint efforts of The National Development Corporation and Computer Center Ltd.