Cost:

from 9399 USD

Nevis Multiform Foundations

In previous articles on Nevis multiform foundations, we have detailed the benefits of the Nevis Multiform Foundation Ordinance of 2004 for asset protection, as well as the advantages and possibilities of such structures.

Nevis multiform foundations are becoming more and more popular among business persons from all over the world as these are independent and self-sustaining structures. In this article, we will tell you in more detail about the requirements and necessary documents for registering a Nevis foundation. In addition, we will acquaint you with prices for our assistance.

Nevis Multiform Fund

So, why does Nevis multiform foundation have such a name? Everything is straightforward! Multiform foundations registered in Nevis can take any of the following forms very quickly and at any time: ordinary foundation, trust foundation, company foundation, or partnership foundation.

Requirements for establishing Nevis multiform foundations

The list of requirements for setting up a Nevis foundation includes:

  1. Having a board of directors and a secretary.
  2. Having a registered agent in Nevis.
  3. Having a registered office in Nevis.
  4. Having a memorandum of establishment.
  5. Having an appropriate name.

When creating Nevis multiform foundation, you can:

  • use the standard set of by-laws documents or develop your own
  • appoint a supervisory board or protector
  • decide whether to publish by-laws and board data or not
  • choose how you will subscript for assets or property, and for what ammount
  • choose legislation
  • choose the beneficiary rights
  • choose the multiform type.
sign
TRUSTS & FOUNDATIONS
FREE CONSULTATION

on offshore structures and jurisdictions
that would best meet your
asset protection goals.

on offshore structures and jurisdictions that would best meet your asset protection goals.

We’ll contact you in 10 minutes

Continuation, transformation, conversion, consolidation, and merger

Nevis multiform foundation is a very flexible tool. It allows:

  • Continuation – a foundation from a foreign jurisdiction can continue its activities on the island of Nevis already as a multiform foundation.
  • Transformation – any organization outside the island jurisdiction can transform into a Nevis foundation. For example, a trust in Jersey could become a multiform foundation in Nevis.
  • Conversion – an existing Nevis entity can be converted into a Nevis multiform foundation.
  • Consolidation or merger – any two or more organizations can merge into a Nevis multiform foundation.
  • Nevis foundation can operate both on the island and outside it.

Documents required for registration of a Nevis multiform foundation:

  • Application form:

An application for registering Nevis multiform foundation needs to contain the foundation name (it must necessarily end with FND or foundation) and the details of the beneficiaries, managers, secretary, and members of the supervisory board (if it exists).

If a multiform foundation has taken the form of a Nevis trust foundation, it is required to have beneficiaries and contain the word “trust” in its name. The beneficiaries’ names will not be made public unless you indicate otherwise.

If you want to create a revocable foundation, then in the application form, you need to indicate who has the right to revoke it and under what circumstances.

Nevis multiform foundation and its beneficiaries are exempt from income and capital gains tax, provided that the foundation founder, beneficiaries, property, assets, and contributions come from outside the island of Nevis. Nevis foundation can become a tax resident of this jurisdiction and pay taxes at a maximum rate of 1%. In this case, it is necessary to submit a tax return to the Register annually. The tax is calculated on undistributed accumulated net profit. If you want to create a foundation as a Nevis tax resident, this also needs to be indicated in the application form.

  • Consent schedule:

In this schedule, it is necessary to indicate the data of the secretary and members of the board, as well as the supervisory board (if it was created). All of these persons must be of legal age. The signatories of the consent schedule agree to act in the foundation as secretary, or member of the board, or supervisory board.

  •  Memorandum of establishment:

Foundation memorandum of establishment contains the following points:

  • Multiform foundation name.
  • Registered address of the multiform foundation in Nevis (registered agent address).
  • The main purpose and objectives of the multiform foundation: for obtaining benefits by the beneficiaries mentioned in the statutory documents, or, in the event of the beneficiaries’ refusal, the purpose and objectives prescribed for Nevis multiform foundations by the law.
  • Multiform types (this information will be made public): ordinary, trust, company, or partnership foundation.
  • Validity term of this foundation: long-term or short-term.
  • Revocable or irrevocable multiform foundation.
  • Legislation to which the multiform foundation will be subject.
  • By-laws:

The requirements for filing information with the Register apply only to the foundation name, the chosen multiform type, By-laws copy, and the registered office name. By-laws will be protected until otherwise specified.

Typically, standard regulations are used, but founders may choose other law than the Nevis Multiform Foundation Ordinance 2004 (MFO) to manage the whole business or its part. Therefore, at the registration stage, we will ask you to decide whether you want to completely subordinate the Nevis Multiform Foundation Ordinance or not. If you wish to choose a different law, you will be required to state the jurisdiction and the name of the law and indicate the foundation part that will be subject to the other jurisdiction’s law.

  • Applications:

Appropriate applications are submitted if it is necessary to reorganize Nevis foundation, change the multiform, change the name, secretary, registered agent, etc.

Term for registering Nevis multiform foundation

Upon receipt of all required documentation and the original Consent schedule, Nevis multiform foundation will be registered within 24-48 hours.

The principal member of the board may be a professional provided by the registered agent in Nevis. In this case, all documents for the registration will be signed on the island, and the foundation will be established faster (no need to wait for the original documents). As soon as Nevis multiform foundation is registered, the professional board member will resign their position in favor of the person(s) you specify. A board member can be either an individual (Panamanian professional services) or a legal entity (Nevis professional services). At least one board member is required.

If you use Panamanian professional services, the foundation’s reputation will be higher, but the registration period will take longer.

Prices for registration services in Nevis

Prices for registration services in Nevis

LLC/IBC registration Price Terms of service provision
Basic package of corporate documents, which 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

 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

By-Laws

Written resolution of Director

Register of Directors

 Register of Officers

Register of Shareholders

Share Certificate/s

one set of corporate documents apostilled copies
USD 2,499 5-6 business days
Apostille + full professional service package:
company registration

payment of state registration fee

 registered agent services in Nevis

registered office (registered address) in Nevis

one set of original corporate documents

 one set of corporate documents apostilled copies

professional director/manager

original power of attorney with an apostille

professional shareholder/member

original Declaration of Trust

 one set of professional’s corporate documents copies with an apostille

one set of corporate documents copies

 Certificate of Good Standing

Certificate of Incumbency

 power of attorney copy

Declaration of Trust copy

passport copy

 utility bill copy

letter of recommendation from bank or account statement

worldwide courier delivery
USD 7,949 6-8 business days
Company annual renewal fee:
payment of state renewal fee

registered agent services in Nevis

 registered office (legal address) in Nevis

Scanned copy of renewal certificate
USD 1,699 3 business days
Annual fee for professional services in Nevis:
Professional director/manager (Nevis corporation) USD 1,399 1 business day
Professional shareholder/member (Nevis corporation) USD 1,399 1 business day
Professional officers (Nevis corporation) USD 1,399 1 business day
Additional documents after company registration:
Notarized set of corporate documents copies USD 600 1-2 business days
Notarized and apostilled set of corporate documents copies USD 799 2-3 business days
Certificate of Incorporation copy USD 400 1-3 business days
Register preparation: Managers/Members/Shareholders/Directors/Officers USD 200 2 business days
Preparation of Minutes of the first Board meeting USD 450 From 2 business days
Certificate of Shares USD 200 2 business days
Company search USD 500 2-3 business days
Power of attorney (simple) USD 399 1 business day
Power of attorney (notarized) USD 599 1-2 business days
Power of attorney (apostilled) USD 799 2-3 business days
Declaration of Trust (simple) USD 400 1 business day
Declaration of Trust (notarized) USD 600 1-2 business days
Declaration of Trust (apostilled) USD 800 2-3 business days
Additional certificates after company registration:
Certificate of Good Standing (simple) USD 680 2-3 business days
Certificate of Good Standing (apostilled) 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 Liquidation USD 1,700 Up to 7 business days
Certification of documents:
Certification signed by the registered agent (per document) USD 150 2 business days
Notarization (per document) USD 200 2 business days
Apostille certification (per document) USD 250 2-3 business days
Letter of certification from the Register USD 500 5 business days
Change of company name/capital/structure:
Company name change (without stamp) USD 800 Up to 7 business days
Company name change (with stamp) USD 1,220 Up to 7 business days
Share capital change USD 1,625 Up to 7 business days
Officers/Directors/Managers change (including drafts and registers) USD 800 Up to 5 business days
Shareholders/Members change (including drafts, registers and up to two Certificates of Shares) USD 800 Up to 5 business days
Transfer of shares/ownership (includes Minutes and up to two new Certificates) USD 1,200 5 business days
Amendments to the Articles of Association (paragraph addition, capital change, any changes in the Articles of Association stamped by the Register) USD 1,200 Up to 7 business days
Re-issuance of statutory documents USD 1,625 Up to 7 business days
Making changes to the company after registration:
Continuation (change of the company’s country of registration) USD 2,520 Individually
Certificate confirming jurisdiction change USD 1,200 Up to 7 business days
Company transfer to Nevis USD 1,500 Individually
Company transfer to Nevis (express) USD 3,000 Up to 7 business days
Restoration of a company struck off the Register USD 1,700 2-3 business days
Company liquidation USD 1,700 Up to 7 business days
Change of registered agent (Transfer Out) USD 1,999 2-3 business days
Change of registered agent (Transfer In) USD 500 Individually
Other services:
Signing of a document by professional manager/director/shareholder from Nevis:
one signature on a corporate document (per document)

one signature on a bank form (per document)
USD 160
 
USD 320
1-2 business days
Document scanned copy (per 1 page) USD 100 1 business day
International courier delivery USD 200 2-4 business days
Rushfee (rapid document preparation) (per one operation) USD 150 2 business days
Negotiated services:
Professional director services USD 3,400 Individually
General consultation Negotiable Individually
Legal consultation Negotiable Individually
Substance for Nevis company:
Financial report (up to 20 transactions) USD 1,900 Individually
Financial report (over 20 transactions) From USD 1,900 Individually
Website development Depending on complexity Individually
Virtual office (Panama), including:
address

post/transfer to courier

phone with recording function
USD 3,000 Up to 7 business days

  • Prices are for standard services. If a particular service requires additional work and/or modification, the cost will be increased accordingly.
  • All prices are inclusive of state duties.

If you want to register Nevis multiform foundation or have any questions about this product, please contact us by e-mail at info@offshore-pro.info. Our experts will be happy to provide you with all the details and assist at all registration stages!

Please read other interesting articles at InternationalWealth.info portal:

Please help us make the portal even more informative, up-to-date, and valuable for you and your business.

Your email address will not be published.