The Nevis jurisdiction is an offshore domicile operated from the small Caribbean island of Nevis within the country of St Kitts and Nevis. Business corporations incorporated under the Nevis Business Corporation Ordinance Act, are one of the most popular offshore business vehicles. Nevis BC benefits from a quick and easy registration process and a flexible structure. Nevis is an offshore jurisdiction renowned for establishing IBC (International Business Company) companies, ideal for asset protection and confidentiality. It offers a stable legal environment, significant tax benefits and anonymity for owners. Nevis IBCs are highly flexible, exempt from local taxes and ideal for global businesses. Strategic choice for those seeking security, privacy and tax optimization opportunities at an international level.

Setting up a company in Nevis: fees and costs

They can be established with a single shareholder and director, who can be of any nationality, can be the same person and a company or an individual. Unlike other jurisdictions, a Nevis Business Company faces no mandatory audits and corporate compliance is minimal. Nevis Business Companies benefit from strong asset protection legislation. To bring an action against a Nevis incorporated business, the creditor would need to hire a local Nevis licensed attorney and post a cash bond at the court, also, Nevis attorneys are not permitted to work in an emergency. The creditor must pay all legal services upfront and in full.

Nevis Offshore Company, business types and controls

Nevis IBCs are commonly used for asset protection and confidentiality, estate and tax planning, and international trade. Nevis IBCs are highly secretive companies and protect the privacy of their owners. Operating a zero tax offshore business is possible with a Nevis IBC.

Corporate Income Tax: Nevis companies which are not controlled and operated in or from within Nevis are treated as non-resident for Nevis tax purposes and, therefore, not subject to corporate income tax in Nevis, a unless they set up a permanent establishment on Nevis. A permanent establishment may be formed when a company carries on certain business activities through a location in Nevis.

Other Taxes: Saint Kitts and Nevis does not collect direct personal taxes. Personal income, as well as capital gains and net worth are not subject to tax.

Property tax is calculated on the market value of the property, which varies from 0.2% to 0.3%, depending on location and use. There is a stamp duty on the transfer of real estate of 6% to 10%. Value Added Tax is 17% for most goods and services. The reduced rate of 10% applies to the tourism sector. Some goods are tax exempt.

Country code: KN

Legal basis: Common law

Legal framework: Nevis Business Corporation Ordinance Act 1984

Company form: Business Company (BC) (Joint Company)

Liability: The shareholder's liability for the company is limited to the amount of their respective holdings.

Share Capital: There is no minimum share capital required, but typically the standard authorized share capital is US$50,000 divided into 50,000 shares of common stock at US$1.00 each. The minimum paid-up capital is USD 1.00.

Shares may be denominated in USD or any other currency and may be issued as registered shares, preferred shares, redeemable shares and voting or non-voting shares.

Shareholders: CBs can be established by one or more shareholders, who can be natural or legal persons and non-residents. Shareholder details are not publicly available. There are no restrictions on the use of candidates.

Directors: A minimum of three directors is required, who can be individuals or legal entities, resident or non-resident. However, if the company has fewer than 3 shareholders, it is permissible to appoint fewer than three directors. Therefore, a company can be established by a single shareholder and a single director. Details are not publicly disclosed. Nominee directors are allowed.

Secretary: A secretary is required, who may be a company or individual, resident or non-resident.

Registered Address: BCs must have a government authorized registered agent and registered office address in Nevis.

General Meeting: Annual meetings are not required by law and may be held in or outside Nevis.

Electronic signature: allowed.

Re-domicile: Migration of the registered office is permitted.

Compliance: Nevis BC are required to prepare and maintain accounting records, to reflect the financial position of the company. Account records must be kept for 5 years from the date of preparation and can be kept anywhere.

Companies are not required to file accounts, annual returns or disclose ownership information. However, registered agents acting on behalf of the companies are required to obtain and retain this information under AML/CFT regulations. Nevis BC is subject to an annual government license fee.

In addition to opening your Nevis Offshore, you will probably be interested in creating a life insurance policy on your taxation, taking up a second tax residence, in a country with territorial taxation, such as a residence in Panama or a residence in Paraguay

Also consider a company in Panama