NEVIS

An offshore entrepreneur or investor seeking a finely tuned common law regime with outstanding confidentiality and asset protection features may consider Nevis "zero tax vehicles" as the best choice. Fundamental law is constitution of the year 1983. Currency East Caribbean dollars (1 EC) = 0,37 USD

OUTSTANDING FEATURES:

Advantages	Steady economic and political environment, flexible legislations just as detailed legislative requirements for the companies and the governmental managements, above establishments of registration are advantages of Nevis;
Corporative legislation	Injunction (1984, 1995) of business companies in Nevis, injunction of international trust company tax exemption in Nevis(1994), injunction of Limited liability companies in Nevis(1995), injunction of offshore bank activities(1996);
Form of tax-exempted company	NBC (Nevis Business Corporation); LLC (Limited Liability Company); IBC (International Business Company);
Authorized business activities	All and any activities not prohibited by the law;
Prohibited activities	Realization of business activities in Nevis is a prohibited activity. Providing of banking, insurance, and re-insurance, trust services is subject to special license;
Taxation	Non- residents are exempted from all and any taxes;
Name of company	The name has to include the words corporation, incorporated, company, limited or appropriate abbreviations, or other words, that speak volumes for company. The following words must not be in the name of the company: bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, and municipal, Chamber of Commerce, University, or their foreign synonyms, without special permission;
Who executes the foundation documents?	Registration agent;
Equity capital of the company	Usually 100 000 USD;
Recommended equity capital	1 000 USD;
Shares	Authorized emission of both registered and bearer shares with or without par value;
Shareholders - Minimum number - Nominal shareholders - Holders of trust equities	One; Yes; Yes;
Does the law provide for non-disclosure of the information? - About actual owner of the company - About bank transactions	The law of confidentiality is mutually valid; Yes; Yes;
Directors - minimum number - nationality and citizenship - status	Not less than shareholders; Director does not have to be a resident and can be legal entity; All the powers apart from those falling into exclusive competence of shareholders (as determined by memorandum, articles of association and/or the law);
On the territory of Nevis there has to be - registered office - registered agent	Not required; Required;
Holding of the meeting of -shareholders -directors	Not required; Required (annually, meetings may be held in any part of the world);
Mandatory - keeping of accounting records - annual account - presentation of auditors conclusion	No; No; No;
Information at disposal to the third party	Information about company at disposal to the third party is granted by the resolution of Supreme Court of Nevis;
Documents kept at the registered office	Documentation and registration office can be kept anywhere;
Agreements on exemption from double taxation	Tax settlement with Great Britain;
Currency control	No;
Term of incorporation	3 weeks;
Costs of registration of company	Look below
Financial year ending on:	Look
Possibility to purchase a ready-made company	Yes,

NEVIS LIMITED LIABILITY COMPANY FEES STRUCTURE

I. THE BASIC SET OF SERVICES AND DOCUMENTS:

The fees and costs include applicable Minimal Government Registration Fee, the first year Registered Agent and Registered Office Fee , Certificate of Formation filed with the Registrar, Minutes of the Organizational Meeting of the Organizer, Sample Operating Agreement, Endorsement Certificate, Articles of Organization, Resignation of Organization Rights, Certificate of Ownership, Designation and Acceptance of the Registered Agent.

II. OPTIONAL SERVICES

Note. Nevis is a signatory to the Le Hague Convention of October 25, 1961, and therefore the documents of the company can be authenticated via Apostille and automatically legalized in all countries having signed the convention. So, there is no need to provide expensive and time consuming legalization in consular establishments when you are opening bank accounts, setting up a branch, purchasing a real estate property, etc.

Nominee Director's Package: US$ 590

The Nominee Director's Package consists of nominee director's services and general power of attorney authenticated by apostille for one year.

Note. Using the General Power of Attorney you will be able to sign contracts, open, manage, and close bank accounts and generally do all things which the company director would do him/herself.

Full Nominees' Package: US$ 990

The package consists of the Nominee Director's Package (see above) and a Nominee Shareholder services.

III. NEVIS LLC ANNUAL FEES AND SERVICES

Government License Fee: US$ 220

Registered Agent and Registered Office Fee : US$ 680

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Total: US$ 900

NEVIS BUSINESS CORPORATION

Outstanding features:

• Corporate tax: NO
• Names disclosure in public records: beneficial owner(s) - NO, shareholders - NO, directors - NO
• Bearer shares: ALLOWED
• Nonresident directors: ALLOWED
• Company Secretary required: YES
• Annual return filing requirements: NO
• May be used as a reinsurance captive company under certain conditions (see below).

Applicable legislation: The Nevis Business Corporation Ordinance 1984 as amended.

NEVIS REINSURANCE CORPORATION (NRC)

Outstanding features:

• ALL features of a Nevis Business Corporation
• The corporation can engage in reinsurance and reinsurance brokerage worldwide except for in insuring or reinsuring residents of Nevis
• No need to be licensed by Nevis Government
• NRC provides reinsuring for licensed insurance companies

Applicable legislation: The Nevis Business Corporation Ordinance 1984 as amended.

LIMITED LIABILITY COMPANY

• Corporate tax: NO
• Names disclosure in public records: beneficial owner(s) - NO, members - NO, managers - NO
• Nonresident managers/members: ALLOWED
• Annual return filing requirements: NO
• Sole member Limited Liability Companies: ALLOWED

Applicable legislation: The Nevis Limited Liability Company Ordinance 1995.

INTERNATIONAL EXEMPT TRUST (IET)

Outstanding features:

• Taxes: NO local taxes on trust assets and relevant earnings.
• Filing and/or registration requirements: must only register the Trust's name, name of Trustee, registered office address; must state that upon registration the trust will be an international trust.
• Settlor and Beneficiary: must be nonresident of Nevis, may be the same person.
• Trustees: one of them must be a Nevis offshore company or a trust licensed company
• Protector: may be the same person as the Settlor and Beneficiary of the Trust; may remove and appoint a new or additional Trustee
• Some Asset Protection Capabilities:

  1. An IET is valid and enforceable notwithstanding that it may be invalid according to the law of the Settlor's domicile or residence or place of current incorporation.

  2. The Trust is not considered fraudulent if settled 2 years after the date of the creditor's cause of action.

  3. The creditor must prove the intent of the debtor to defraud with "clear and convincing" evidence. 

  4. The Statute of Queen Elizabeth I has no application to any IET nor to any property transfer into such trust. (The  Statute makes a transfer to a trust null and void if the transfer could be interpreted as having been intended to hinder, delay, or defraud creditors, including potential future creditors.)

Applicable legislation: The Nevis International Exempt Trust Ordinance of 1994, as amended to September 2000.

DISCLAIMER FOR THE INFORMATION REGARDING NEVIS IETs

The above information may not be interpreted as soliciting for trust services and is given exclusively for representational purposes.

Useful links:

Official Web site of the Government of St. Kitts & Nevis