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Nevis Offshore Company Formation

Nevis offshore company formation includes incorporating offshore corporations, Limited Liability Companies, foundations and trusts. The offshore jurisdiction of Nevis is highly rated among offshore jurisdictions in the Caribbean. Nevis is a tax haven therefore capitals gained outside of the country are not taxed. Nevis began offshore company formation over two (2) decades ago and is continuously revising legislation and new ways of introducing new offshore entities for its clientele.

Offshore company formation in Nevis must be completed by a registered agent in the offshore tax haven. According to offshore business companies regulation in the territory a company wills not e incorporated if the service of an authorized registered agent is not used. Offshore company formation in Nevis is simple process which can be realized in a matter of hours. Nevis offshore companies are registered with the Registrar of Companies who will issue a Certificate of Incorporation to the company if the right documents are submitted. The information for incorporation must be included in a Memorandum of Association. Items to be enlisted can be found below.

  • The name of the company
  • The name an d address of the registered owner
  • The registered address of the company in Nevis
  • The objectives of the company
  • The names and addresses of the subscribers to the company
  • The names and addresses of the company’s director
  • The authorized share capital
  • The classes and number of shares to be issued
  • The rights, privileges and limitation of each class of share issued
  • A statement by the company declaring if bearer shares are to be issued
  • The by-laws of the corporation

Offshore company formation in Nevis can be realized with just one shareholder and one director who can be the same person. The minimum number of shareholders is one. The number of director for a Nevis offshore company can be matched to the number of shareholder. The directors for Nevis offshore companies can be corporations or natural persons. A Nevis offshore company can only carry out the business that is was licensed to conduct. Nevis offshore companies wishing to conduct insurance, banking, assurance, fund investments among others must seek special license beforehand. Nevis companies are prohibited by legislation to conduct business within the offshore jurisdiction or on behalf of residents of the country.

For offshore company registration in the tax haven of Nevis the company’s name must not be one already used for incorporation in the jurisdiction. Offshore companies name must not show any affiliation with any political party, the Royal family of Britain or any name that the Registrar deems offensive to the society. Offshore companies formed in the jurisdiction of Nevis must show that they are limited liability companies by adding one of the following words or abbreviations; Incorporated, Company, Sociedad Anonima, Corporation among others.

Offshore company formation in Nevis has many advantages. International Business companies formed in Nevis will pay no taxes on incomes which it earns outside of the island. In addition these companies will be subjected to no gift tax, estate tax, capital gains tax, withholding tax or inheritance tax as offshore Nevis is a tax haven. Offshore companies will receive further tax exemptions from Stamp Duty. Offshore business incorporated in Nevis is obligated to pay an annual fee to the government. This fee serves as a license fee and will keep the company in good standing order.

The offshore jurisdiction began the formation of LLC when the Limited Liability Ordinance of St Kitts and Nevis was passed in 1995. This piece of legislation has been amended over the years to improve on the business corporation. The Nevis Limited Liability Company offshore registration must also be carried out by a registered agent. Foreign LLC can also be incorporated in the jurisdiction. The documents for the offshore formation of a Nevis LLC can be written in any language must be accompanies by a copy translated in English. The translated copy must be certified. LLC legislation offshore company formation for a Limited Liability company is done by submitting a complete article of Organization to the Registrar of companies in Nevis. The Articles of Organization for Nevis LLCs must have the following:

  • The name of the Limited Liability Company
  • The name and address of the registered agent
  • The date and circumstances under which the company will break up
  • A statement issued by the members of the LLC stating that the company is being formed and registered under the Nevis Limited Liability Ordinance
  • State who the manager of the company will be ( whether or not the members themselves will manage or bring person from outside
  • The By- laws of the LLC.

Nevis LLCs like offshore corporations can operate tax free. A LLC formed in the tax haven of St Kitts pays no income tax or corporate taxes on capital which is gained outside of the offshore jurisdiction. LLCs are also exempted from Stamp Duty. A Limited Liability company incorporated in the offshore jurisdiction of Nevis cannot own property in the jurisdiction. Nevis LLC cannot do business with or for residents of Nevis. LLCs in Nevis cannot engage in banking, insurance, investment fund schemes, assurance on the island. Offshore LLC formation in Nevis can be done with any number of members. Single member LLCs are permitted in the jurisdiction. The members of a Nevis LLC can be individuals or corporations.

There are many benefits to forming a Limited Liability company in the tax haven of Nevis. The assets placed in a Nevis LLC are protected from outside parties which include creditors, law suits and foreign tax authorities. The debts of a Nevis LLC is the responsibility of the company itself and no that of the members.

An LLC formed in the offshore tax haven of Nevis can have more than one manager. The minimum number of members for a Nevis LLC is one (1). The managers and members of Nevis LLC can be corporate bodies or individuals. These persons or corporations can be of any nationality.

Nevis passed its trust legislation in 1994. This legislation which allows for the formation o offshore trusts was amended in 2000. A Trust can be formed in Nevis for charitable and non charitable causes. An offshore/international trust formed in Nevis will cease to exist after one hundred (100) years of existence. A Nevis Trust is registered with the Registrar of Company. The documents which are necessary for the incorporation of an offshore trust in Nevis must include the following:

  • A statement from a lawyer stating that the trust is formed to operate as an international trust
  • The name of the trust
  • The name and address of the registered agent working on behalf of the trust.
  • The name and address of the trustee
  • The date that trust id to be formed

For offshore trust formation to be completed in Nevis the trust must have a protector settler and beneficiaries. The settler establishes the trust while the protector manages the trust. The beneficiaries will inherit the assets of the trust. Some of the advantages of forming a Nevis trust include preventing forced heirship and the fact that foreign laws cannot be applied to Nevis trusts makes it safe from outside parties. Nevis Trusts can operate tax free in the jurisdiction but is required to pay a registration fee as well as a yearly license fee to the government of the offshore jurisdiction.

The offshore jurisdiction of Nevis also incorporates offshore foundations. Nevis passed its Multiform Foundation Ordinance in 2005. The Nevis Multiform Foundation is a hybrid entity which provides asset protection. Under the Nevis legislation a Multiform foundation can be a trust foundation, Company foundation, partnership foundation and tax resident foundations. Like all the other offshore entities incorporated in Nevis a multiform foundation will pay no taxes which include withholding tax, capital gains tax, estate tax or gift tax. A company already formed in or out of the jurisdiction can convert to a multiform foundation in Nevis.

For offshore formation of multiform foundations in Nevis a Memorandum of Establishment must be submitted to the Registrar Of companies. Information to be included are:

  • The name of the foundation
  • The address of the foundation’s registered office in Nevis
  • The name, address and nationality of the subscriber
  • The purpose for forming the foundation
  • A description of the assets and property owned by the foundation
  • The by-laws of the foundation

Offshore company formation in Nevis is realized very efficiently and in very little time. Offshore company maintenance in Nevis is inexpensive. Offshore corporation, trusts and foundations incorporated in Nevis are all protected by the Confidentiality Relationship Ordinance of St Kitts and Nevis which ensures that this offshore entities and persons associated with then receive privacy and confidentiality.