A small island in the Caribbean Sea, Nevis is a member of the twin-island Federation of Saint Kitts and Nevis. Nevis has its own financial services law and regulatory body, separate from St. Kitts. International businesses enjoy low administrative costs, generous tax exemptions, as well as the right to change the form of ownership in the process.
“Offshore” Nevis is one of the zones with the highest level of confidentiality. There is no currency control and the trustworthy system of common law operates according to the principles of Great Britain (trust law) and corporate law of the State of Delaware (LLC act).
If you are interested in an offshore company in Nevis, leave your contact info in the special form for quick communication with our specialists.
General information on Nevis as a jurisdiction
The official language of the country is English. In the territory of the jurisdiction, the official currency is the East Caribbean dollar (XCD), in free circulation alongside the US dollar (USD). Geographical location? Near Antigua (80 km from the west) and Puerto Rico (350 km from the east). Saint Kitts is located three kilometers to the south, the island being separated from Nevis by the Narrows Strait.
It should be noted that the country’s authorities restrict foreign companies’ right to own real estate in the Federation – the Nevis offshore does not allow legal entities to be owners of real estate on the island. Another interesting point is that the construction of residential and commercial buildings implies the construction of no more than 2 floors, since local legislation prohibits a high-rise row (houses and structures should not be taller than palm trees!).
Nevis corporate law
The twin-island federation belongs to the CARICOM (Caribbean Community), is a member of the Association of ACS (Caribbean States) and OECS (Association of Eastern Caribbean States). The supervisory and control body of Nevis offshore companies is the Registrar of Corporations and the Financial Services Regulatory Commission. Activities are regulated by the laws on business corporations passed first in 1984 and updated over time.
The most common forms of offshore company in Nevis:
- IBC is an international commercial company with restrictions on certain types of activities (insurance, banking services, etc.).
- LLC is a limited liability and transparent (pass-through tax) company. Ideal for businesses from countries where taxes are imposed on the income of resident companies worldwide.
As for the bylaws of state acts, the activities of offshore companies in Nevis are controlled by the following guidelines and rules:
- Nevis Offshore Banking Ordinance (Nevis Payment Institutions Banking and Services Act 1996);
- Nevis Business Corporation Ordinance (the aforementioned corporation law as amended in 2017);
- Nevis Limited Liability Company Ordinance (adopted in 1995, amended and supplemented in 2017);
- Nevis International Exempt Trust Ordinance (NIETO Exempt Trusts Act 1994).
Requirements for offshore companies located in Nevis
All companies registered under the Nevis offshore jurisdiction can engage in any type of activity that is not subject to licensing. Each commercial entity must have a registered office and its registered agent, without which incorporation is impossible.
If you plan to register an offshore company in Nevis, consider the following points:
- Terms of incorporation – subject to the availability of the necessary documents from 1 day to two weeks (determined individually).
- Requirements for offshore: it is forbidden to provide any services to the local population, to operate as an investment fund, to use amongst others words and phrases Bank, Trust, Royal, Insurance Company in the names (it is allowed to use words that are close in meaning).
- Company name: the full name must necessarily contain an internationally recognized phrase that defines the structure – “Corporation”, “Inc”, “Limited”, “Ltd”, “GmbH”, etc. LLCs must be named as such.
- Share capital: can be denominated in any currency, there are no mandatory requirements for payment of the capital. The standard size is from 50 thousand EUR, subject to division into 50 thousand shares worth 1 USD.
- Nevis Offshore Shares: Bearer securities are officially permitted, but must be kept at the administrative office within the jurisdiction. In practice, they are not recommended. It is also allowed to issue shares without declaring the par value.
- Tax and reporting: Companies pay only a license fee to the local budget in a fixed amount of 220 USD and must file a tax return that the Registered Agent can take care of for you.
- Confidentiality: the registration authority does not require the disclosure of personal data and full information of shareholders and owners to the pubic. Only the data on the location of the office, the memorandum and the charter of the legal entity are on public record. The registrar also stores the information of the registered agent. Other information is not provided, which gives the highest level of privacy protection. Data is transferred to authorized bodies exclusively based on a court decision.
- Director Service: Professional directors are allowed, and this profession is regulated. If you need to order this service, please contact our experts. Cooperation is carried out on the basis of a limited power of attorney, which clearly defines the rights and obligations of the director, shareholder and secretary.
- Accounting and reporting: there is a requirement to keep accounting records and file a tax return, but international income is generally exempt from tax.
- Requirements for the storage of corporate documents: a Nevis entity is not required to keep documents in the local office, with the exception of bearer shares. Hence, documents may be stored anywhere in the world (including electronically)
It should also be borne in mind that offshore Nevis allows mandatory annual meetings of shareholders anywhere in the world. Requirements for shareholders and director are reduced to one person – an offshore company can be created with only one natural or legal person of any residence. The issued capital can be paid after the issue of shares, if desired
Jurisdiction status of Nevis
At the moment, the country is considered a desirable and secure offshore jurisdiction. It is on the European Union’s whitelist. All non-resident companies are generally exempt from taxation in the territory of Nevis, if they do not receive any income here.
Nevis offshore company laws also allow the re-domiciliation of companies from another jurisdiction, if a certain agreement is signed with it (the state of primary registration must legally allow the transfer out).
Now we dispel myths: if you believe the populist press, you might think that opening an account in Nevis is practically impossible. In practice, Nevis has two great offshore banks that handle business from all around the world.
Order our professional Nevis company formation services for a full range of services to register a company in the offshore Nevis and protect your own assets.
Incorporation of a legal entity offshore: stages
The first step is to select the name of the future company and check for the absence of similar names in the register. Followed by:
- provide necessary KYC documents
- pay fees and duties
- incorporation (usually completed the same business day);
- obtaining a certificate and state registration of a Nevis company;
- if necessary – translation, notarization and apostille, transfer of documents to the client.
Please note that an offshore company in Nevis allows you to remotely set up a business in a jurisdiction with the help of a registered agent. The documents are sent by express courier.
Order our professional assistance right now to quickly create a full-fledged business with zero taxation in the offshore Nevis.
What are the benefits of the jurisdiction of Nevis?
Nevis as a well-known offshore company allows you to create a company with only one shareholder (it can be an individual or a legal entity), does not submit reports except those required locally, and does not require an annual audit. Offshore companies pay only a flat tax of 220 USD.
What are the requirements of Nevis for company registration?
Basic conditions relate to the presence of a licensed registered agent who must register the company with an administrative office located in the jurisdiction. Bearer shares must be kept at the local office.
Why is it profitable to open an offshore company here?
Nevis is one of the best regulated and most reputable offshore jurisdictions and also runs a Citizenship by Investment programme. In addition to zero taxes (corporate taxes on profit), Nevis legal entities maintain the confidentiality of shareholders and beneficiaries.