- Advantages of a Revocable Trust in Nevis as an Alternative to the Will
- The Disadvantage of a Revocable Trust in Nevis
- Requirements for Revocable Trust Registration in Nevis as an Alternative to the Will
- What Assets can be Inherited through a Trust in Nevis
- The Cost of Establishing and Maintaining a Trust in Nevis
- Documents Required for Trust Registration in Nevis
- The Procedure of Registering a Trust in Nevis as an Alternative to the Will
Offshore trusts in Nevis can be used in a variety of ways, including as an alternative to the will. It is suitable for those who seek to transfer assets by inheritance with the strictest confidentiality possible and without a lengthy official procedure.
Nevis is one of the most reliable jurisdictions to set up trusts. The relevant law has been in place since 1994, and it allows for flexibility in customizing the trust. Trusts in Nevis are used to secure assets, bequeath property, or protect it against waste by heirs.
Trusts can be revocable and irrevocable. Irrevocable ones imply a limited ability to influence the trust and are most commonly used to protect assets. Revocable trusts provide more freedom of influence and are most often used as an alternative to the will.
Advantages of a Revocable Trust in Nevis as an Alternative to the Will
Why are the trusts in Nevis convenient as an alternative to the will?
- Confidentiality: an ordinary will implies openness, which means that everyone can find out the information about your property and the share allocated to each heir under certain circumstances. The trust ensures confidentiality for the ultimate beneficial owners of the trust (beneficiaries).
- Special conditions for inheritance transfer: you can specify who will receive what, under what conditions and at what age. You have a lot more control in comparison to an ordinary will.
- Protection against forced inheritance: you choose who gets what, and it is extremely difficult to intervene in this process.
In addition, in the same way as you do with the will, you can easily change the conditions of the revocable trust existence, change guardians (protectors) and beneficial owners. If necessary, you may cancel this trust upon your discretion.
You will be able to transfer any type of assets (both tangible and intangible) to the trust. The only limitation by assets for the international trust in Nevis is that it cannot own real estate in Nevis itself.
Assets are tax-exempt under certain conditions.
The Disadvantage of a Revocable Trust in Nevis
For the sake of completeness (and to enable you to plan a strategy), we should also mention the disadvantage of a revocable trust in Nevis which lies precisely in its “revocable” nature. The trust founder retains a high degree of control over the assets even if he has nominally placed them in trust.
A possibility to easily change the terms of the trust, its protectors and beneficial owners does not actually separate the owner from the assets. This means that a person may be required to continue to pay taxes on the income from these assets and the trust is unlikely to protect you if claims are filed by creditors.
To protect your assets, we recommend using the tax-exempt trust in Nevis. It is irrevocable and therefore much better protected in this context.
You can also build a structure of several companies, trusts and funds, each of them solving its own set of tasks. Each element can be located in its own country. Nevis is one of the best places to protect assets, and this applies to both business companies (BCs) and trusts.
Requirements for Revocable Trust Registration in Nevis as an Alternative to the Will
There are conditions to be met to successfully register any Nevis trust:
- the trust may have a settlor or you can just declare that certain assets are transferred to the trust property – in the second case, the settlor’s name does not appear in the trust agreement
- the trust settlor may be a natural person or a legal entity
- a trust in Nevis must have at least one trustee, and at least one of them must be a trust company in Nevis or an international business company in Nevis (BC)
- the trust must have at least one beneficial owner: these can be individuals or classes of people and relatives. if desired, the trust protector or founder can be a beneficial owner
- the trust founder and the beneficial owners must at all times remain non-residents of Nevis
- Nevis International Trust is prohibited from owning real estate in Nevis
- the trustee (protector) is appointed by the trust settlor. In this case, the trustee’s position can be occupied by a settlor’s relative, a specially hired specialist, the founder himself or the trustee.
The Trust Deed is also an important component that specifies the structure, features and objectives of the trust. This is a private document that does not need to be registered with the state.
Cost of services
LLC/IBC Registration | USD | Terms of service provision |
The basic package of corporate documents includes: Certificate of Incorporation Endorsement Certificate Articles of Incorporation Certificate of Notary Public Designation and Acceptance of Registered Agent Transfer of Subscription Rights Appointment of Director (minutes) By-Laws Written Resolution of Director Register of Directors Register of Officers Register of Shareholders Share Certificate(s) |
USD 1,899 | 2-3 business days |
Apostille Package: Certificate of Incorporation Endorsement Certificate Articles of Incorporation Certificate of Notary Public Designation and Acceptance of Registered Agent Transfer of Subscription Rights Appointment of Director (minutes) By-Laws Written Resolution of Director Register of Directors Register of Officers Register of Shareholders Share Certificate(s) One set of apostilled copies of corporate documents |
USD 2,499 | 5-6 business days |
Apostille Package + Full Nominee Service: company registration payment of a state duty for registration services of the Registration Agent in Nevis registered office (legal address) in Nevis one set of original corporate documents one set of apostilled copies of corporate documents Nominee Director/Manager** original apostilled power of attorney Nominee Shareholder/Member** Trust Declaration (original) one set of copies of the nominee’s apostilled corporate documents one set of copies of corporate documents Certificate of Good Standing Certificate of Incumbency power of attorney (copy) Declaration of Trust (copy) copy of passport copy of a utility bill a reference letter from the bank or account statement delivery by courier worldwide |
USD 7,949 | 6-8 business days |
Company Annual Renewal Fee: payment of state duty for renewal services of the Registration Agent in Nevis registered office (legal address) in Nevis scanned copy of a Renewal Certificate |
USD 1,699 | 3 business days |
Annual fee for Nevis company nominees: | ||
Nominee Director/Manager (Nevis corporation) | USD 1,399 | 1 business day |
Nominee Shareholder/Member (Nevis corporation) | USD 1,399 | 1 business day |
Nominee officers (Nevis corporation) | USD 1,399 | 1 business day |
Additional documents after incorporation: | ||
Notarized set of copies of corporate documents | USD 600 | 1-2 business days |
Notarized and apostilled set of copies of corporate documents | USD 799 | 2-3 business days |
Copy of the Certificate of Incorporation | USD 400 | 1-3 business days |
Preparation of registers: Managers/Members/Shareholders/Directors/Officers | USD 200 | 2 business days |
Preparation of Minutes of the First Meeting of the Board of Directors | USD 450 | from 2 business days |
Certificate of Shares | USD 200 | 2 business days |
Company search | USD 500 | 2-3 business days |
Simple Power of Attorney | USD 399 | 1 business day |
Notarized Power of Attorney | USD 599 | 1-2 business days |
Apostilled Power of Attorney | USD 799 | 2-3 business days |
Simple Trust Declaration | USD 400 | 1 business day |
Notarized Trust Declaration | USD 600 | 1-2 business days |
Apostilled Trust Declaration | USD 800 | 2-3 business days |
Additional certificates after company registration: | ||
Certificate of Good Standing (Simple) | USD 680 | 2-3 business days |
Apostilled Certificate of Good Standing | USD 880 | 2-3 business days |
Certificate of Incumbency (Simple) | USD 490 | 1 business day |
Certificate of Incumbency (Notarized) | USD 690 | 1-2 business days |
Certificate of Incumbency (Notarized and Apostilled) | USD 890 | 2-3 business days |
Letter of Tax Exemption | USD 500 | 2-3 business days |
Apostilled Letter of Tax Exemption | USD 700 | 2-3 business days |
Certificate of Company Dissolution | USD 1700 | up to 7 business days |
Certification of documents: | ||
Certification signed by the registration agent (per document) | USD 150 | 2 business days |
Notarization (per document) | USD 200 | 2 business days |
Certification with apostille (per document) | USD 250 | 2-3 business days |
Letter of Certification from the Register | USD 500 | 5 business days |
Change of company/capital/structure name: | ||
Change of company name (without a seal) | USD 800 | up to 7 business days |
Change of company name (with a seal) | USD 1,220 | up to 7 business days |
Change of authorized capital | USD 1,625 | up to 7 business days |
Change of Officers/Directors/Managers (including drafts, registers) | USD 800 | up to 5 business days |
Change of Shareholders/Members (including drafts, registers, and up to 2 Certificates of Shares) | USD 800 | up to 5 business days |
Transfer of shares/ownership includes the Minutes and up to two new Certificates | USD 1,200 | 5 business days |
Amendment of the Articles of Association (addition of a paragraph, change of capital, any change in the company Articles of Association stamped by the Register) | USD 1,200 | up to 7 business days |
Re-issue of constituent documents | USD 1,625 | up to 7 business days |
Making changes to the company after registration: | ||
Continuation (Change of the country of incorporation) | USD 2,520 | individually |
Certificate confirming the change of jurisdiction | USD 1,200 | up to 7 business days |
Company transfer to Nevis | USD 1,500 | individually |
Fast-track company transfer to Nevis | USD 3,000 | up to 7 business days |
Restoration of the company deleted from the Register | USD 1,700 | 2-3 business days |
Company dissolution | USD 1,700 | up to 7 business days |
Transfer Out (Change of registration agent) | USD 1,999 | 2-3 business days |
Transfer In (Change of registration agent) | USD 500 | individually |
Other services: | ||
Signing a document by a nominee from Nevis: one signature on a corporate document (per 1 document) one signature on the bank form (per 1 document) |
USD 160 USD 320 |
1-2 business days |
Scanned copy of the document (per 1 page) | USD 100 | 1 business day |
International courier delivery | USD 200 | 2-4 business days |
Rush fee (quick document preparation) – cost per one operation | USD 150 | 2 business days |
Negotiated Services: | ||
Services of a professional director | USD 3,400 | individually |
General consultation | contractual | individually |
Legal advice | contractual | individually |
Substance for Nevis Company: | ||
A financial report (up to 20 transactions) | USD 1,900 | individually |
A financial report (from 20 transactions) | from USD 1,900 | individually |
Website development fee for State Registration & Registration Agent | cost depending on complexity | individually |
Virtual Office (Panama) Address Mail/Delivery to courier Telephone with a recording function |
USD 3,000 | up to 7 business days |
What Assets can be Inherited through a Trust in Nevis
You can transfer any type of assets, both tangible and intangible, to a trust in Nevis.
You can include cash, bank accounts, real estate (except for real estate in Nevis), company shares, copyright, bonds, shares, etc. in the list of property.
It is up to you to determine which of the heirs will receive the particular property from the trust. You have the right to let one person get everything or let everyone get what they deserve.
Most often, such trusts fulfill the settlor’s will after his death. Before that, you can make any changes and even revoke the trust.
The Cost of Establishing and Maintaining a Trust in Nevis
Costs of trust registration:
- Trust registration (including a 2-hour consultation on registration) – $7,000
- Due diligence fee — $200
- Register fee — $540
- A legal opinion from an independent lawyer confirming that the trust was formed in accordance with the trust law — $1,000
- Fee for the legal address — $700
- Bank fee — $180
- Basic accounting services (up to 10 transactions per year) — $1,000
Total: USD 9,399
Expenses on annual maintenance of the trust:
- Trustee’s fee — $5,000
- Due diligence — $200
- Annual renewal in the register — $540
- Fee for the legal address — $700
- Bank fee — $180
- Basic accounting services (up to 10 transactions per year) — $1,000
Total: $7,620 per year.
Cost of Protector’s services
- Registration fee – $3,000
- Annual fee – $1,125
- Transaction cancellation fee – $500
Documents Required for Trust Registration in Nevis
The Nevis Trust offers confidentiality, but at the same time, the island complies with international transparency and client verification requirements. Trust settlors, protectors and beneficial owners undergo due diligence to ensure that there are no problems with the law.
You will need to provide documents (see the list below) and fill out a questionnaire (in the end) to register a trust in Nevis as an alternative to the will. This will allow you to fulfill the due diligence requirements and speed up the registration procedure.
Required documents for settlor and protector:
- a certified passport copy
- an original or certified copy of proof of residence (not older than 3 months)
- an original or certified copy of a reference letter from the bank
- an original or certified copy of a professional letter of recommendation
- a prepared CV
Documents required for beneficial owners:
- a certified passport copy
- an original or certified copy of proof of residence (not older than 3 months)
The legal entities that have the right to organize a trust will have to provide corporate documents.
Registration agents also have the right to request additional documents.
The Procedure of Registering a Trust in Nevis as an Alternative to the Will
- Complete the questionnaire below and contact us at info@offshore-pro.info
- Agree on the details of work with the portal consultant
- Pay for the service of trust registration in Nevis (from 9399 USD). You can pay by bank transfer, cryptocurrencies, plastic card, PayPal, WesternUnion, and WebMoney.
- Provide a complete set of documents for the settlor, protector (trustee) and beneficial owners of the trust.
- We proceed with the trust registration after we receive a full package of documents and payment.