A Revocable Offshore 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

1. Complete the questionnaire below and contact us at info@offshore-pro.info 
2. Agree on the details of work with the portal consultant
3. 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.
4. Provide a complete set of documents for the settlor, protector (trustee) and beneficial owners of the trust.
5. We proceed with the trust registration after we receive a full package of documents and payment.