GENERAL INFORMATION

Nevis is located in the northern part of the Leeward Islands in the eastern Caribbean, with a population of approximately 40,000 and located 210 miles east of Puerto Rico and 1,100 miles from Miami. International flights into Antigua, St. Kitts, St. Maarten and Puerto Rico connect with Nevis on a daily basis. A major source of income in Nevis derives from tourism.

Nevis was a British colony until 1983 and joined the Federation of St. Kitts and Nevis. Nevis has a democratic government based upon the British Parliamentary system.

Nevis enjoys a stable and secure economy, an untarnished international reputation and a government whose watchwords are quality, innovation and integrity. The official language is English and the currency used is the Eastern Caribbean Dollar.

HIGHLIGHTS OF NEVIS BCs

Nevis business corporations (BCs) registered in Nevis under the Nevis Business Corporation Ordinance 1984, enjoy many benefits:

• Nevis BCs are tax-exempt from income, estate taxes and corporate taxes. Capital gains are not subject to tax in Nevis. There are no withholding taxes on dividends, royalties, management fees, interest payments and other fees paid by Business Corporation to non-residents of Nevis or to another IBC.
• Nevis BCs can act as trustee without the requirement to be licensed in Nevis. This represents a unique opportunity for professionals without license that offer services outside of Nevis, since you get direct control over clients’ affairs without giving this responsibility to independent trustees.
• There are no residency or nationality requirements for the officers and directors of a Nevis BC.
• Directors and Shareholders meetings may be held anywhere in the world.
• There are no requirements for the filing of annual reports with any government authority. Hence, this offers total confidentiality with regards to the business affairs of the company.
• The law also permits the redomiciliation in and out of Nevis.
• Shelf companies are available.

CORPORATE REQUIREMENTS

Name: BCs names must contain the words Corporation, Incorporated, Limited Company. A name may be in any language that uses the Latin alphabet. The Registrar may request an English translation if a foreign language name is used. Any name that is identical to or similar to an existing company is prohibited.

The word “trust” may be used in the name of a Nevis Business Company without applying for a license.

Directors / Officers: There must be a minimum of three directors, who do not have to be a resident in Nevis. The number of directors must be equal but not less or greater than the number of shareholders. Directors may be corporations or natural persons of any nationality. There is no requirement for the details of the directors of a Nevis Corporation to be registered on the public file. Annual general meetings may be held anywhere in the world.

In the case of officers every BC must have:

(i) A president and treasurer, or a managing director, and

(ii) A secretary

All officers shall be natural persons except the secretary which may be a corporation or natural person.

Capital/Shares: The standard authorized issued share capital which pays the minimum incorporation tax is either 1,000 no par value shares or US$100,000 par value shares. All shares can be of any type. The registered agent (or another approved Nevis-based custodian) must maintain custody of the bearer share certificate.

Books, Records, and Seal: All companies should have their Register of Shares in their Registered Office. All other records and statutory books could be at the registered office or at any other place in the world. The company seal is optional.

Registered Office / Agent: All companies incorporated in this jurisdiction are required to maintain a Registered Agent and a Registered office in Nevis.

ANNUAL REQUIREMENTS, TAXATION & FEES

A Nevis offshore exempt company is exempt from income taxes, social security taxes, capital gains taxes, withholding taxes, gift, estate and succession taxes. There is an annual registration fee payable to the Minister of Finance.