Everyone would like to pay less in taxes and protect his/her assets in the optimal way. There are various jurisdictions in the world that can provide for the completion of these tasks. One of them is Nevis, a semi-independent island within the Federation of St Kitts and Nevis, located in the Eastern Caribbean.
Nevis combines the best qualities of a modern offshore jurisdiction, an English-speaking environment, a stable economy, English legal system and beneficial business conditions. You can use your Nevis-registered company or trust for accumulating and redistributing wealth and protecting your assets.
Why open a company in Nevis?
The main reasons to register a Business Corporation or LLC in Nevis are as follows:
Territorial taxation system
Only the income earned on the territory of St Kitts and Nevis is taxed in the country. Worldwide income is therefore not taxable. The country has neither capital gains tax, nor inheritance tax, nor gift tax, nor property tax, nor dividend tax, nor payroll tax.
No restrictions on charter capital
The legislation of Nevis does not set a minimum nor a maximum amount of paid up or authorised capital. You can register just $1 as the capital of your company in Nevis and start doing business. The typical standard capital is $10,000, but it doesn’t have to be paid in at the beginning.
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 public. 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 officers do not have to be indicated in the By-laws. Only the registered agent’s details will be available to the authorities.
Number of shareholders
One individual person can found a company in Nevis. Moreover, the same person can be the company manager. 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, local director services can be used. Company shareholders are not obliged to have annual meetings.
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Simple company management structure
A Nevis-registered LLC can be managed either by the Members (owners) or Managers. The latter can also be residents or non-residents of Nevis and they can live anywhere in the world. Director services are available on the island.
Rapid company registration and remote management
A company can be registered in Nevis within one day only (subject to compliance review and rush fee). You can control your Nevis-registered company from wherever you are via various online applications and business software.
Minimal reporting requirements and absence of audit requirements
A Nevis-based company does not have to file its financial statements, nor does it have to have audits. Nevis companies are free to decide how they are going to keep their financial records.
The only document that has to be submitted annually is the CT-101, a simple declaration of substance. It contains very little information about the company activities and it does not harm confidentiality at all.
No currency control
Officially, there is no currency control on Nevis. US dollars and local EC dollars circulated side by side and are interchangeable at a fixed rate. So, currency control is not an issue to worry about.
Wonderful banking opportunities
Nevis did not have many reliable banks until recently. However, these days there are three international banks with offices on the island. Offshore Pro Group can help you get onboarded at banks in Nevis or other nearby Caribbean islands.
Please note! Nevis legislation allows re-domiciliation of companies from other countries to Nevis. If you have a company registered in the BVI or Cayman, 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 of Nevis-based companies
The most popular company type in Nevis is an LLC. It provides for the possibility to protect your assets and use various tax benefits. The creation of companies in Nevis is regulated by the Nevis LLC Ordinance that is regularly updated. 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 nominal shares can be issued.
Offshore Pro Group 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 a few 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;
- Crypto and blockchain businesses;
- Provision of business confidentiality;
- Holding and asset management;
- Finance management;
- Family offices.
At the same time, you cannot use your Nevis-registered company to conduct real estate, insurance, financial, or investment-related business on the territory of the country.
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.