Nevis companies: Nevis companies are classic offshore companies.
Foreign assets or income from sources outside of Nevis are not subject to corporate tax, income tax, withholding tax, stamp duty or asset taxes. Nevis companies are not subject to foreign exchange controls.
Types of companies: International Business Company (IBC) or Company (LLC). Nevis companies have significant advantages for the protection of assets from creditors and lawsuits (due to the advantages of local legislation).
Restrictions on activity: Business entity incorporated in a form of International Business Company (IBC) has no right to do business in the Federation of Saint Kitts and Nevis.
In some cases the use of certain company names requires a special permit (i.e. license).
These requirements applies to the names of companies that suggest a relationship with financial services – for example, banking, insurance, reinsurance and asset management require a special license.There is also an outright restriction on the use of certain terms and words in the company name. Please contact us for advice regarding acceptable naming of your company.
Capital requirements: There are no requirements on the minimum amount of company’s capital. Capital may be submitted in any currency.
Shareholders and directors: Shareholders / members or managers can be physical persons or corporations. Board members or directors may be citizens or residents of any country. Corporate members/directors can be registered in any country.
Annual reports and financial audits are not required. However, accounting and statistics of the company must be kept for 5 years in paper form or in a form which suggests the possibility of submitting a paper form “within a reasonable time”. Accounting records storage place is up to company’s management (agent’s office or company’s office anywhere in the world).
There are no corporate taxes, tax assets, income tax, withholding tax, stamp duties.
Benefits of company incorporation in Nevis:
- Nevis corporate legislation guarantees an adequate protection level for assets belonging to a company incorporated in Nevis from lawsuits and/or unfriendly creditors
- Under certain conditions, foreign court decisions are not recognized and only local courts rule applies.
- Details of directors and shareholders are not stored in the public registry of Nevis, which offers very high level of confidentiality; only company’s charter is available publicly.
- No requirements regarding the minimum amount of corporate capital
- Unlike some other jurisdictions Nevis allows registration of a single-member company.
- Very flexible distribution of rights and responsibilities of managers and owners is possible, which could be precisely described in the company’s charter. Nevis company is the perfect vehicle if you need to create a corporate entity with partnership features for investment purposes.
- Fast, easy and relatively inexpensive registration of a company.
- Dividends could be paid to any person or business entity without limitations.
Walton Consultants DMCC