Petrus has been granted a Class A license to operate an international bank in Saint Lucia by the Financial Services Regulatory Authority (FSRA) under the patronage of the Ministry of Finance, Economic Affairs, Planning & Social Security of Saint Lucia.
The FSRA is entrusted with the administration of the international banking act, 1999 (chapter 12.17), which regulates the operations of offshore banks. Saint Lucia legal tradition has been cemented under British Sovereignty between 1814 and 1979 when the territory obtained its independence.
The political system and regulatory framework are extremely stable and Saint Lucia’s historical tradition of excellence in trade and commerce is now being recognized towards international financial services.
Saint Lucia’s legislation on offshore banking satisfies and exceeds the recommendations and requirements of OECD and FATF, enabling the island to become a premier and high quality offshore destination.