Nevis

Establishing a company on Nevis

Incorporation of a company in Nevis is completed in 1-2 days from the submission of the order, with the original documents being sent shortly thereafter.

Offshore company incorporation in Nevis

The island of Nevis is located in the eastern Caribbean Sea, about 2,100 km southeast of Miami. The island is part of the Federation of St. Kitts and Nevis but has its own legislation governing the formation of offshore companies. The Official Secrets Act imposes non-negligible fines or imprisonment for up to 12 months for anyone who reveals confidential information, particularly in the case of a company incorporated on Nevis. In addition, there is no means of public access to company information, except by order of the Nevis High Court, as there is no statutory obligation to report beneficial owner details. An offshore entrepreneur or investor seeking a well-set up common law system with exceptional elements of confidentiality and asset protection may find a zero-tax Nevis-based company one of the best options.

Information on the tax system:

The activities of international trusts or offshore companies operating outside of Nevis are not taxed.

Offshore companies in Nevis:

Nevis Business Corporation, Nevis Captive Insurance Corporation, Nevis Limited Liability Company and International Exempt Trust Company.

Nevis Business Corporation

Special Features:

• Corporate income tax: NO
• Listing of names in public records:
  • Beneficial owner(s) – NO
  • Shareholders – NO Managing directors – No
• bearer shares: ALLOWED, but must be deposited at the registered office of the company
• Non-resident directors: ALLOWED
• company secretary required: YES
• annual tax return filing requirements: NO
• may serve as a captive insurance company under certain conditions

Applicable Law: The Nevis Business Corporation

Nevis Captive Insurance Corporation

Special Features:

• ALL features of The Nevis Business Corporation.
• The corporation may engage in insurance and reinsurance services worldwide, except for insuring and reinsuring Nevis residents.
• must be licensed by the Government of Nevis

NEVIS LIMITED LIABILITY COMPANY

• Corporate income tax: NO
• Listing of names in public registers:
  • Beneficial owner(s) – NO
  • shareholders – NO
  • managing directors – NO
• non-resident managing directors/non-resident shareholders: ALLOWED
• annual tax return filing requirements: NONE
• single-member limited liability companies: ALLOWED

Applicable legislation: Nevis Limited Liability Company Regulations 1995.

International Exempt Trust (IET)

Special Features:

• Taxes: ZERO local taxation on trust company assets and income
• Filing/Registration Requirements: only the name of the trust company, the name of the trustee, the registered office of the trust company are required to be filed; it must be stated that upon registration the trust company will become an international trust company
• settlor and beneficiary: must be a non-resident of Nevis, may be the same person
• trustees: one of them must be an offshore company incorporated in Nevis or a licensed trust company
• Protector: may be the same person as the settlor and beneficiary of the trust company; may remove and appoint new or additional trustees
• certain asset protection options:

• 1. the IET is valid and enforceable, notwithstanding that it may be declared void under the law of the settlor’s domicile, residence or current place of incorporation in Nevis
• 2. A trust company shall not be deemed to be fraudulent if it is formed 2 years after the cause of action of the creditor
• 3. The creditor must prove fraudulent intent by “clear and convincing” evidence
• 4. Queen Elizabeth I Act does not apply to either an IET or to transfers of property into such a trust. (The Act treats transfers into a trust as absolutely void if the transfer could be construed as an act done with the intention to hinder, delay or defraud creditors, including any future creditors.)