Incorporate in Nevis
Background & General Outline
St Kitts and Nevis are islands in the Caribbean Sea, about one-third of the way from Puerto Rico to Trinidad and Tobago.
The two volcanic islands, which are renowned for their beautiful mountain scenery, total 261 sq km in area and are separated by a three-km-wide channel called The Narrows; on the southern tip of long, baseball bat-shaped Saint Kitts lies the Great Salt Pond; Nevis Peak sits in the center of its almost circular namesake island and its ball shape complements that of its sister island.
On January 1st, 2004, Federation Prime Minister Dr. Denzil L. Douglas proposed Round Table talks with the Cabinets of the Federal Government and the Nevis Island Administration, major social partners and key operatives, to examine the options and ramifications of the possible secession of Nevis from the Federation. However, he said that his preference was for both islands to stay together.
Vance Amory, Former Prime Minister of Nevis, said in a televised statement in June 2006 that independence for his island was still a goal of his government. Amory was replaced as the Nevisian leader by Joseph Parry of the Nevis Reformation Party after an election in July 2006 and there have since been signs of rapprochement between the two islands.
Nevis has created separate ‘offshore’ legislation parallel to Federation legislation, and many Nevisians believe that its economic progress has been due to having greater control over its own affairs.
The legal system is largely based on English Common Law, and appeal is to the East Caribbean Supreme Court in St Lucia.
the East Caribbean dollar, pegged at 2.7 to the US dollar. The currency is controlled by the Central Caribbean Reserve Bank, situated in St Kitts. However, the US Dollar is generally considered to be a second currency and is freely accepted and interchangeable throughout the Island.
English is the official Language of Nevis
Disclosure of the Beneficial Owner
When you Incorporate in Nevis the identity of beneficial owners and shareholders are not required to be filed in any public record or, except in the case of licensed companies, government office. Similarly, changes in beneficial ownership or shareholdings are confidential.
There are no requirements for the filing of annual reports with any government authority. When you Incorporate in Nevis your Business Corporation is entitled to complete privacy with regard to its legitimate affairs.
A Nevis offshore company is called an International Business Corporation or “IBC” and it is TAX EXEMPT. Provided that the company activities are carried on outside of Nevis, the company you Incorporate in Nevis will not be subject to any income taxes therein.
Double Tax Treaties
The Federation of St Kitts and Nevis is party to double taxation treaties with Denmark, Norway, Sweden, Switzerland, the United Kingdom and the United States of America (limited to social security benefits).
In April 2009 St Kitts and Nevis announced that legislation had been drafted to provide for the mutual exchange of information on taxation matters between itself and other jurisdictions. The St Kitts and Nevis (Mutual Exchange of Information on Taxation Matters) Bill, 2009, was tabled in the island’s national assembly on March 26.
The bill marked another step in the island’s efforts to comply with OECD standards following its pledge on December 31, 2005 to adhere to the OECD principles of transparency and tax information exchange.
When the bill is enacted, it will allow St Kitts and Nevis to conclude tax information exchange agreements with other jurisdictions, thus providing greater transparency and information to other tax authorities in the case of tax crimes.
The Registrar of Offshore Companies & Trusts reserves the right to refuse any name which is identical or strikingly similar to an existing company or, in his opinion, inappropriate or undesirable.
Names must end with Corp., Corporation, Inc., Ltd., Limited, Incorporated, etc, to denote limited liability.
An IBC can engage in all corporate activities subject to its Articles and Memorandum of Association.
A Nevis IBC is not permitted to conduct or carry out Banking; Insurance; Mutual Fund Management; Public Investment Management; or any associated activity without proper licensing.
Summary & Features
Nevis has established a mix of new and modern international laws that, coupled with its extremely stable government and modern infrastructure, make it the premier offshore center in the World. The Nevis government continues to be very proactive in its development as an offshore center, allowing us to offer our clients a premier offshore base of operations featuring:
- An independent and stable government
- Modern telecommunications infrastructure
- Statutes that guarantee confidentiality
- Modern and progressive trust and company laws
- Statutes that provide tax exemption
- One of the 10 most free countries in the world
Nevis is an excellent location for:
- Estate Planning
- Asset Protection
- Tax Reduction Planning
- Holding Investments
- Royalty and Licensing Ownership
Incorporate in Nevis
OUR Nevis Corporation Package Includes:
- name check
- preparation of memorandum
- preparation of articles
- preparation of registration forms
- filing with the registrar of companies
- payment of filing fees
- certificate of incorporation
- share certificates
- minutes of board meetings
- resolution to open a bank account
- register of directors
- register of shareholders
- 1st year registered office
- 1st year registered agent
- 1st year government administration and maintenance
Nevis’ legislation has long created favorable tax conditions for offshore operations but the country’s popularity as such has only caught on over the last few years.