Nevis is widely renowned for being one of the oldest offshore financial centres. Yet, despite its established status, the question often asked is: where is Nevis located? Nevis Island is situated in the northeastern part of the Caribbean. Together with Saint Christopher Island, it forms an independent nation, the Federation of St. Kitts and Nevis.
As the oldest British colony in the Caribbean, Nevis is a stable democracy with long-standing parliamentary traditions. Her Majesty the Queen is the head of state, represented by the Governor-General.
Nevis is one of the best choices among the Caribbean tax havens. Since 1984, this island has operated the oldest “citizenship by investment” programme in the world. It is also well known for its asset protection trusts.
Nevis asset protection laws applicable to companies and trusts have made this island the leading jurisdiction for asset protection and estate planning.
Establishing an offshore company or trust in Nevis is the best choice to protect your assets from foreign litigation and preserve them for your future and that of your family.
In contrast to pure tax havens, Nevis has a territorial tax system. As a result, all St. Kitts and Nevis offshore companies and trusts that do not conduct business activity in the federation’s territory are not subject to any tax.
Unlike other territorial tax jurisdictions, the definition of business activity carried out in Nevis is very narrow. For example, a Nevis company that holds its board meetings in Nevis, invests in shares of other Nevis companies, or has opened its bank account in Nevis is not deemed to be conducting business in Nevis. Such an exemption can result in significant international tax savings for a Nevis offshore company. The same is true for a Nevis offshore trust that has been set up in accordance with the Nevis International Exempt Trust Ordinance.
There is no capital gains tax, nor withholding tax for interest or dividends in Nevis. This makes a Nevis company a good fit as an investment vehicle.
Value-added tax does not apply to Nevis offshore companies and trusts.
The official currency of St. Kitts and Nevis is the East Caribbean dollar (XCD), although the US dollar is widely used. There are no currency exchange controls in Nevis.
|Currency||East Caribbean dollar (XCD)|
|Capital gains tax||0%|
As would be expected for the oldest British colony, Nevis legislation is based on English common law and equity principles.
However, these days Nevis Island is no longer a British overseas territory. Since 1983, Nevis and St. Kitts have been an independent island nation with their own judicial system. The court of final appeal in Nevis is the Eastern Caribbean Supreme Court located in St. Lucia. One of the judges of this court is permanently based in Nevis.
A Nevis business company is comparable to the standard international business company model widely used in offshore jurisdictions. Although, this type of Nevis Island offshore company is based on Delaware corporate legislation rather than the British Companies Act 1948.
Nevis is a Caribbean tax haven known primarily for its asset protection laws. These legal provisions set Nevis Island apart from other jurisdictions, making the Nevis asset protection trust or a company especially popular in highly litigious countries such as the US.
The Nevis International Exempt Trust Ordinance, adopted in 1994, remains the main source of Nevis trust law. Another well-known asset protection vehicle is the Nevis LLC, which is regulated by the Nevis Limited Liability Company Ordinance enacted in 1995. This law provides strong privacy and asset protection arrangements applicable to the Nevis LLC. The Nevis BC offers less protection, however, it can be used in conjunction with a Nevis trust to hold trust property.
The Nevis Island financial services industry is regulated by the following laws:
The main reasons for registering a company in Nevis are the absence of taxes, privacy and asset protection.
Firstly, Nevis is a well-known tax haven. Favourable taxation is an excellent reason to consider a Nevis company formation. There is no corporate tax, capital gains tax, VAT or withholding tax on Nevis business income. The environment in Nevis is very business-friendly, with many legal, accounting and financial professionals residing on the island.
The second reason to incorporate an offshore company in Nevis is the strong privacy laws. St. Kitts and Nevis offshore companies are not obliged to disclose information about their directors, shareholders and beneficial owners to the public. Moreover, there is the option of using nominee services, which are very common in Nevis, to enhance privacy even further.
Nevis stands out as a leading Caribbean offshore financial centre due to its asset protection laws. A Nevis offshore trust is very well protected from foreign judgments and creditors. For these reasons, it is very popular worldwide. Furthermore, the formation of Nevis trust is quick and straightforward. A professional trust company and lawyers are always available to assist you in drafting a trust deed that will suit your particular situation. A Nevis trust cost depends greatly on the size of the trust property and the complexity of the trust structure.
Nevis’s banking sector is well developed and caters to the needs of the offshore financial industry. Among the leading banks, there are Nevis International Bank and Trust, Hamilton Reserve Bank and RBC Royal Bank of Canada.
Nevis offshore company formation is quite fast and only takes a few days. With Astra Trust, it is possible to register a Nevis company online in just 1-2 business days.
According to Nevis legislation, it is possible to establish the following types of offshore companies in Nevis:
Astra Trust can quickly register a Nevis offshore company for an affordable fee. We also provide a wide range of services for offshore companies under our administration. Our extensive experience and knowledge in this field enable us to provide effective solutions where complex structures are involved.
A Nevis company is the best option for the following business activities:
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To incorporate an offshore company in Nevis, the following CDD documents are required:
Nevis company formation fees include the following services:
After setting up a company in Nevis, you will receive the following Nevis company documents:
Under the Nevis Business Corporation Ordinance, 2017, the name of a Nevis company shall end with the following words or abbreviations:
The proposed company name shall not be similar to that of any type or kind as such name appears in the Island of Nevis company register or the reserved names list of corporations maintained by the Island of Nevis registrar of companies.
The minimum number of directors of a Nevis company is one, of any nationality and residency. Directors can be individuals or legal persons.
The board of directors meetings can take place anywhere in the world.
Shareholders of a Nevis company can be individuals or legal entities of any nationality and residency. The minimum number of shareholders is one.
It is possible to use nominee services in Nevis. Astra Trust can provide nominee services and assist with all corporate matters for your Nevis company. A foreign trust or a foundation can be a perfect solution to own shares of your Nevis offshore company, along with nominee services.
The share capital of a Nevis Business Corporation (NBCO) can be of any value and currency as stated in the Memorandum and Articles (or Bylaws) upon incorporation.
The standard authorised share capital is usually USD 50,000 with a par value of USD 1 each. The issued share capital can be one share or it could be all 50,000 shares.
The authorised share capital can be both par value or no par value. In addition, a Nevis business corporation can issue shares of different classes, which can be registered or bearer shares.
In the case of bearer shares, they must be immobilised with a local custodian, which can be arranged for an additional cost.
The registers of directors, shareholders and beneficial owners shall be stored at the registered office and are not publicly accessible in Nevis. In practice, this means that the registers are kept at the office of the Nevis international trust company. Information from these registers is only accessible to the Nevis authorities upon their request.
The privacy of a Nevis business corporation can be further enhanced by using the services of a director and a nominee shareholder. Beneficial ownership can be structured through trusts or foundations.
If you would like to know more about Nevis company registration, please don’t hesitate to contact the Astra Trust team to receive more detailed information free of charge.
There are no economic substance requirements in Nevis. Due to the territorial tax system, it is not expected that such requirements will be adopted in the near future.
After the adoption of the Income Tax (Amendment) Act, 2021, all Nevis companies, including NBCOs and LLCs, must file a simplified tax return with the tax authority.
A Corporate Income Tax (CIT) 101 form must be filed each year. The main purpose of the filing is to demonstrate to the Nevis tax authorities that a company does not carry out business activities in Nevis. The rest of its worldwide income is not taxable in Nevis.
Business Activity Restrictions
Requirements for Directors
Requirements for Secretaries
Requirements for Shareholders