Every business person would like to pay less in taxes and protect his/ her assets in an efficient way. There are jurisdictions in the world that can provide for the completion of these tasks. One of them is the Caribbean state of St Kitts and Nevis. It has the best qualities of a modern offshore jurisdiction, an English-speaking environment, a stable economy, and beneficial business conditions. You can use your Nevis-registered company for accumulating and redistributing wealth and protecting your assets.
Why it is beneficial to open a company in Nevis
The main reasons to register a business corporation in Nevis are as follows:
Territorial taxation system
Only the income acquired on the territory of St Kitts and Nevis is taxed in the country. Global incomes are untaxable. The country does not have neither capital gains tax, nor inheritance tax, nor gift tax, nor property tax, nor dividend tax, nor payroll tax, and so on and so forth.
No restrictions on charter capital
The legislation of St Kitts and Nevis does not set neither a minimum nor a maximum amount of charter capital. You can register US$ 1 as the charter capital of your company in Nevis and start doing business.
High level of confidentiality
Registering a company in Nevis will provide a high level of business confidentiality. The names of company stockholders, directors, and other officers are not registered. The company By-laws are kept with the Nevis Registrar of Companies and no other documents are required to start a company there. The names of company beneficiaries do not have to be indicated in the By-laws. Only the registration agent’s personal details will be available to the authorities.
The possibility to issue bearer shares allows totally concealing the information about the company founder(s).
Number of shareholders
One person can found a company in Nevis. Moreover, the same person can be the company director. Both natural persons and corporate entities can act as company owners and directors. They can be residents of Nevis or non-residents. To make the level of confidentiality even higher, nominee services can be used. Company shareholders are not obliged to have annual meetings.
Simple company management structure
A Nevis-registered LLC can be managed whether by the company owners of hired directors. The latter can also be residents or non-residents of Nevis and they can live anywhere in the world. Nominee director services are available in the country.
Rapid company registration and remote management
A company can be registered in Nevis within one week only. You can control your Nevis-registered company from wherever you are via various online applications.
Minimal reporting requirements and absence of audit requirements
A Nevis-based company does not have to keep the books nor does it have to have audits. Local companies are free to decide how they are going to make the financial records.
The only document that has to be submitted annually is the corporate license. It contains very little information about the company activities and it does not harm confidentiality at all.
No currency control
Officially, there is a Currency Counsel in St Kitts and Nevis and there is currency control there but it does not apply to companies registered in the country nor those investing into its economy. So, currency control is not an issue to worry about.
Please note!!! Nevis legislation allows re-domiciliation of companies from other countries to Nevis. If you have a company registered in the USA or the UK, for example, you can re-domicile to Nevis without too much bureaucratic trouble. The name of the company and the date of its establishment can be preserved.
Requirements to Nevis-based companies
The most popular company type in Nevis is an LLC. It provides for the possibility to protect the assets and use various tax benefits. The creation of companies in Nevis is regulated by the ‘Nevis Business Corporation’ Act from 2011. It is based on Delaware corporate legislation.
A series of simple requirements have to be met in order to register a company in Nevis:
- Suggest a unique company name: the uniqueness of the name will be checked by the Company Registrar;
- Acquire an office and hire an agent: the company shall have an agent who holds a Nevis license and a legal address in the jurisdiction. The company head office can be located anywhere in the world;
- Appoint a company director and a secretary: the officials do not have to be Nevis residents and both natural persons and corporate entities can act as the company directors and secretaries;
- Draw up corporate documents, which involves making the By-laws alone. The By-laws shall contain the company name, structure, types of business activities, and registration agent’s details;
- Issue shares: no par value shares and bearer shares can be issued.
InternationalWealth experts will be happy to help you meet all these requirements thus obtaining a powerful business instrument that will allow protecting your assets and growing your capital. The preparatory work should not take us more than five days.
A Nevis-registered company: the most popular applications:
You can use your Nevis-based company to engage in any legal type of business activities. Nevis-registered LLCs are most often used for the following purposes:
- Real property management;
- Asset protection;
- Provision of business confidentiality;
- Holding and asset management;
- Finance management.
At the same time, you cannot use your Nevis-registered company to do real estate, insurance, financial, or investment-related business on the territory of the country. You will have to obtain licenses if you want to do so.
If you have any questions about registering a company in Nevis or buying an existing one there, please contact us by writing us an email message or dialing our WhatsApp number or using the live chat. We will provide professional assistance in all matters related to registering a company in St Kitts and Nevis.
What benefits does a Nevis-registered company bring?
It is a good idea to open a company in Nevis if you would like to protect your assets, manage your taxes in an efficient way, and have your business confidentiality at a high level.
How long does it take to register a company in Nevis?
When you have the full set of application documents ready, registering a company in Nevis is going to take two or three days. If you wish, you can also buy a shelf company in the country.
What company ownership type is preferable for a Nevis-registered company?
The most popular form of company ownership in Nevis as Limited Liability Company – LLC.