Why a Nevis Company?
Zero percent tax on corporate and personal income
Extremely private; no free public access to beneficial ownership information
Shareholders, directors and officers can reside anywhere in the world
Trusted Legal system and stable political system
A minimum requirement of one director and one shareholder
No requirement to file annual reports or financial returns
Local legislation geared towards favouring business and entrepreneurship
Jurisdiction not tainted with negative offshore associations
Nevis Company Key Facts
Nevis Company Tax Information
Nevis is a popular jurisdiction of choice to incorporate an offshore company for it’s highly favourable tax system as a tax neutral territory. A Nevis offshore company is exempt from all corporation tax, income tax, stamp duty tax, asset tax, and exchange controls on corporate or personal income derived outside of the jurisdiction.
Furthermore, Nevis’ tax system enables offshore companies to operate with full privacy and anonymity as companies are not obligated to file annual returns or audit accounts with the Nevis Tax Authority, hence shielding such information away from public access.
Type of Shares
Registered shares, preference shares, bearer shares, redeemable shares and shares with or without voting rights attached.
Corporate or individual
Must the Director/ Manager be resident?
Minimum paid up capital
Restrictions on trade
Cannot trade within the Federation of Saint Kitts and Nevis or own real estate there. The company may not engage in banking, insurance related business, assurance, fund and collective investment schemes.
Type of Company
Location of meetings
It must be maintained in Nevis. Additionally, each company must have a Registered Agent and Registered office in the jurisdiction, provided by a licensed service provider.
East Caribbean Dollar (ECD $).
Name of the company
The titles “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme”, “Sociedad Anonima” or Ltd, Corp., Inc., S.A. must be part of the name of every Nevis Business Corporation.
Nevis’ statutory regime safeguards all personal details of Director(s) and shareholders(s) and information pertaining to the offshore company’s operation from public access. Nevis does not require that company accounts be available on public record and only in the instance of a court order granted over criminal proceedings will such information be disclosed.
St Kitts and Nevis since August 2015 has become a signatory to FACTA, complying with the automatic international exchange of information relating to the offshore accounts of US citizens over to the US Internal Revenue Service (IRS). Under the Act, the Nevis Competent Authority is required to transfer information to the relevant jurisdiction’s Competent Authorities. This partnering agreement has prevented Nevis based financial institutions to pay otherwise a 30% withholding tax on US source income.
A Nevis offshore company may elect nominee Director(s) and shareholder(s) to protect the identity of beneficial owners to the company, thus providing an extra layer of anonymity and privacy.
Offshore consultants at Offshore Universe are further able to advise as to the potential benefits of utilising nominee services in-conjunction with a Nevis IBC.
Nevis Background Information
Nevis’ economy, once predominantly dependent on agriculture, particularly on sugar, which generated over half of export revenues in the country, has since through government effort, embarked upon new ways to diversify the agricultural and other sectors of the economy through technology.
Tourism, and especially Cruise Tourism is another larger contributor to the jurisdictions’ economy.
St. Kitts and Nevis boasts the highest fixed broadband subscription rates in the Caribbean region.
In 2005 St Kitts and Nevis established a registry of ships and yachts, which has since registered 530 vessels in 2014. Furthermore, the offshore industry has year-on-year consistently grown.
Nevis was a British colony from 1628 until 1983 when it became independent and joined the Federation of St. Kitts and Nevis. The Federation is an active member of the British Commonwealth. Nevis’ political system is based on representative democracy with a constitutional monarchy. The figurative head of state is HM Queen Elizabeth II who is represented on the Island by an elected Governor General. The federal government of St. Kitts and Nevis is directed by a unicameral parliament established as the National Assembly. Nevis enjoys a stable political system, considered safe for depositing capital and investments.
The prevailing legislation governing company operation is the Nevis Limited Liability Company Ordinance 1995 and the Nevis Limited Liability Company (Amendment) Ordinance, 2009.
Nevis Banking Services
- High-level confidentiality – Nevis privacy is reinstated by Nevis statutes. Authorities have access to bank information in criminal tax matters where a court order is present only.
- Variety of payment options – With accounts in several currencies, internet banking, international wire transfers, debit and credit cards, prepaid cards, checkbooks, merchant accounts, brokerage accounts Nevis bank account holders enjoy great payment flexibility.
- Low initial deposit requirements
- Full operative control– Secure Internet-banking facilities, with no need to install specific software on computers or other devices.
- Wide choice of payment cards
- No personal visits to Nevis is required to open a Nevis bank account.
- Free account application – The bank charges no fee for account opening.
Bank Account Requirements:
✓ Certified copy of passport
✓ Bank reference from a bank, which knows the person over 2 years
✓ Professional reference from an individual who knows the person over 2 years. If you do not have a relationships with a professional, the bank needs a second bank reference from another bank.
✓ Proof of address (original utility bill with individual’s name and residential address).