Saint Vincent and the Grenadines is a small island country located in the southern Caribbean Sea, consisting of the island of Saint Vincent and a chain of smaller islands known as the Grenadines. Its capital is Kingstown, located on the island of Saint Vincent. The country is known for its beautiful beaches, crystal-clear waters, and vibrant coral reefs, making it a popular destination for tourists. The country's economy is primarily driven by tourism, agriculture, and the offshore financial sector.

The country has a well-developed offshore financial sector, which is regulated by the Financial Services Authority. The sector offers a range of financial services, including international banking, trust and company formation, insurance, and investment funds. The government has implemented a number of policies to attract foreign investment and promote the growth of the sector, including tax incentives and a favorable regulatory environment.

Saint Vincent and the Grenadines offers an International Banking License to foreign banks and financial institutions that wish to establish an offshore banking presence in the country. This license allows the holder to engage in a range of banking activities such as receiving funds, selling or placing securities, and using them for loans or investment. The license also provides access to the country's tax and regulatory benefits, such as a low tax rate and a favourable business environment.

The two classes of international banks which are licensed by the FSA are Class A and Class B licenses. Class A license holders are permitted to engage in a wider range of activities than Class B license holders. Class A license holders can conduct a full range of banking and financial services, including accepting deposits and providing credit facilities, while Class B license holders are limited to certain activities, such as managing offshore funds and assets. Class A license holders are generally perceived to have a higher reputation and credibility in the international banking and finance industry than Class B license holders. This is partly due to the higher regulatory requirements and minimum capital requirements associated with Class A licenses.

Class A International Banking License:

• Must establish and maintain a capital fund with fully paid-up capital of US$3,000,000 or its equivalent in another currency;
• Required to hold a deposit or invest the sum of US$500,000 or its equivalent in another currency.

Class B International Banking License:

• Must establish and maintain a capital fund with fully paid-up capital of US$500,000 or its equivalent in another currency;
• Required to hold a deposit or invest the sum of US$100,000 or its equivalent in another currency. 

It is worth noting that SVG International banks are precluded from conducting banking business with residents of St. Vincent and the Grenadines.

Both Class A and Class B International Banking Licenses are valid for one year and must be renewed annually. The FSA also conducts regular (at least once every 12-18 months) inspections and assessments to ensure that license holders comply with regulatory requirements and maintain high standards of financial management and corporate governance.