nevis ibc

In-Depth Information About Nevis

 

Locationnevis ibc

Nevis, with its companion country of St. Kitts is located in the southeastern part of the Caribbean Sea in the Leeward Islands. The two entities combined make up the smallest sovereign state in the New World, both in size and in population. The two islands are of volcanic origin and are separated by a two-mile, shallow channel.

These two tropical islands lie approximately 1,200 miles from Miami, Florida and are east and slightly to the south of Puerto Rico and the U.S. Virgin Islands. The nearest islands are Anguilla, Antigua,   Montserrat, and Guadeloupe. Nevis is in the UTC-4 time zone and is therefore 1 hour ahead of New York and other Eastern Seaboard cities.

Political Structure

Nevis, along with St. Kitts, had been governed by England since early in the 17th century. For its part, Nevis was looked upon as being the Caribbean’s “richest jewel.” St. Kitts, founded in 1632, was the first British colony to be established in the Caribbean and was known as both the “Mother Colony” and the “cradle’ of the Caribbean.

Both islands were for a time a part of the Crown Colony of the Leeward Islands and later became a part of the West Indies Federation. Both became governing states within the British Commonwealth in 1967, the two forming a federation together with Anguilla, which later seceded. In 1983 St. Kitts and Nevis achieved full independence from Great Britain although both still enjoy Commonwealth status.

Technically, the Federation of St. Kitts and Nevis is a Constitutional Monarchy, as the Queen of England is the Head of State. The Queen is represented by a Governor General, who has a number of constitutional duties and, on the surface, appears to have sweeping powers, but in reality can, in most instances, only act upon the advice of the prime minister.

The Head of Government of the Federation is the Prime Minister. There is a unicameral assembly, the National Assembly, which is the legislative branch of the government and consists of 15 members. Eleven of these members are directly elected while three are appointed by the Governor General. Two of the three are appointed upon the advice of the Prime Minister and the third is appointed upon the advice of the leader of the opposition party. These three hold the title of senators, while the attorney general is automatically given a seat as a fourth senator.

Since its beginnings, the government of the Federation has been characterized by political stability and continuity in its actions. General elections are held every five years excepting those times when the assembly has been dissolved by the Governor General, requiring elections to be scheduled.

There are checks and balances in that the Prime Minister can be removed from office by a vote of the Assembly, and can also be removed from office by the Governor General if the Prime Minister no longer appears to have the support of the Assembly. In addition, the Governor General can only dissolve the parliament upon the advice of the Prime Minister. The real political power largely rests in the hands of the Cabinet of Ministers, consisting of the Prime Minister and ministers drawn from membership of the Assembly.

While the St. Kitts-Nevis National Assembly represents the federal government for the two countries, Nevis has its own Assembly in addition to electing members to the National Assembly. The Nevis Assembly is only subordinate to the National Assembly in matters of external affairs. Nevis also has a Premier, a position analogous to the Federation’s prime minister.

The High Court, located on St. Kitts, represents the judicial branch of the government.

Economy and Infrastructure

In addition to the benefits provided to the Nevisian economy by the offshore business sector, the tourist industry is a major driver of the economy, thanks to ongoing efforts to improve the island’s infrastructure and increase the number of tourist-oriented developments.

Another driver is the electronics industry, with St. Kitts and Nevis combining to feature the largest electronics industry in the Eastern Caribbean. Yet another driver is a growing apparel industry. As the one-time mainstay of the economic performance of Nevis, sugar production has been phased out, and has been replaced with other crops.

The United States is the island’s major trading partner, accounting for more than two-thirds of the total of both imports and exports. United Nations’ data combines economic growth data for Nevis with that of St. Kitts, as do many other sources, but the growth statistics for both islands parallel one another in most cases.

As of 2011, Nevis had a significant trade deposit and the ratio of the country’s debt to its  gross national product was also unfavorable although the balance of payments has been improving. Both the GDP and per capita income have shown increases in recent years. Exchange rates (Eastern Caribbean dollars vs. U.S. Dollars) have held steady over the past decade.

Airline service to both St. Kitts and Nevis is mostly provided by Caribbean-based airlines. There is a direct connection between St. Kitts and Miami. St. Kitts has a deep-water port. Nevis can accommodate smaller vessels and is developing a port facility capable of servicing the smaller cruise ships. Both islands have cable and wireless services. More than 75% of the population uses the Internet.

The largest of the Nevis banks, where either personal or corporate accounts can be opened is the A&P Intertrust Corporation. A personal visit to the bank is not required to open an account. There are also several Nevis trust companies on the island and a number of Nevis capital LLC companies located outside of the island including in the United States. These banking and trust companies provide the necessary information and assistance in Nevis offshore company formation as well as Nevis company formation and Nevis LLC formation.

Nevis was at one time blacklisted as a tax haven by the Organization of Economic Cooperation and Development (OECD). This was part of a blanket blacklisting and there was no specific indication of wrongdoing  on the part of Nevis or its island partner, St. Kitts. Nevertheless, the Federation took steps to ensure their books were in order.

St. Kitts and Nevis were eventually placed on the grey list and in 2010 the Federation was placed on the OECD white list. The federation has signed tax information exchange agreements (TIEAs) with a number of countries since that time.

The Citizenship by Residency Program has been in effect since 1984. Nevis claims to have a very high approval rating for upstanding citizens with the citizenship process usually taking less than 6 months. There are no dual-citizenship restrictions, and there are no taxes to be paid for citizens who decide to reside in St. Kitts or Nevis. Both citizenship and residency bring with them generous incentive packages. A citizen or resident of Nevis can reside in most other Caribbean countries as well.

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Population, Language and Culture

The population of St. Kitts and Nevis in 2014 is estimated to be the order of 54,000. Based upon the 2001 census in which the population of Nevis consisted of slightly under 25% of the total population would put the 2014 population of Nevis at approximately 13,500. The official language of Nevis is English and is the language used in business and government affairs including in the investment sector. Within the general population the major spoken language is known as St. Kitts Creole English. St. Kitts Creole English is an English-based dialect featuring West African and French elements.

Those who live on Nevis are referred to as Nevisians, while residents of St. Kitts are called Kittitians. Folklore plays a major role in the culture of the islands. The population has a tendency towards being very superstitious and fearful of black magic, a common fear among many inhabitants of the Caribbean.

As one might expect from a nation that was a British Colony for nearly 350 years, the largest religious denomination is that of the Anglican Church with approximately one-half of the population belonging to that denomination. Other Protestant denominations are also present. Approximately 10% of the population is Catholic.

Nevisians mainly celebrate the traditional English Holidays including the Prince of Wales’ Birthday. Labor Day on Nevis is celebrated on May 1st and Independence Day falls on September 19th. Culturana, the Nevis equivalent of Carnival is held in late July while Carnival on St. Kitts is held from December 25 to January 2nd.

Perhaps one of the more unusual characteristics for a tropical island is the way those on Nevis dress. Western style clothing is the norm, with women wearing skirts and dresses and men wearing shirts and ties, especially on business occasions, or as a minimum, button-down shirts. School children wear uniforms, and on weekends, people tend to dress up rather than dress down.

Family relationships on Nevis are very strong, as is family loyalty with many households including members of the extended family in addition to the immediate family.

Exchange Control

There are no exchange controls in Nevis for offshore companies locating in or investing in the country.  An offshore company investing in the Nevis economy is known as an International Business Corporation, or IBC. Nevis does have exchange controls in place that are applied to the Currency Board Arrangement established within the Eastern Caribbean Currency Union, but these controls do not apply to offshore companies.

The purpose behind the absence of controls is that of encouraging foreign direct investment and encouraging companies to locate in Nevis. With respect to Nevis banking, the government of St. Kitts and Nevis is home to both the Eastern Caribbean Securities Exchange and the Eastern Caribbean Central Bank. In addition to an absence of exchange controls, Nevis does not have tax treaties with other countries and will not exchange tax information with other countries.

Type of Law

Nevis law is based on English common law. With respect to offshore companies, Nevis law is based upon Nevis LLC legislation which is modeled after the Delaware LLC Act. Nevis asset protection is superior to that of most other offshore jurisdictions.

Nevis places significant restrictions on the rights of creditors; more so than is the case with Delaware LLC law. Nevis courts do not recognize U.S. judgments or judicial orders nor do they enforce them.

Principal Corporate Legislation

The Nevis Business Corporation Act Ordinance, No. 3 was enacted in 1984. The Act is along the lines of the Delaware LLC Act, although the Nevis Act has been updated a number of times since 1984.

The Act was updated in 2011 and is currently titled the Nevis Business Corporation (Amendment) Ordinance, 2011. The 1984 Act, Ordinance No. 3 is now referred to as the Principal Ordinance.

The amended ordinance requires that offshore companies keep detailed records and explanations of all transactions and should be able to allow their financial position to be determined at any time, within a reasonable period of time. The directors of these companies may keep these records at the address of the registered agent or in any other location where the directors think fit.

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Benefits of Nevis Offshore Company Formationsnevis ibc

– The government of Nevis has exhibited a total commitment to maintaining the privacy and protection of those involved in legitimate business practices. Neither Nevis nor St. Kitts have been tainted by reports of money laundering or tax evasion as has been the case in the past with a number of other offshore jurisdictions.

– A Nevis offshore company is exempt from taxation on income generated anywhere in the world outside of Nevis. There are no income taxes to be paid, nor are there estate, inheritance, gift, duty, or capital gains taxes.

– Nevis offers citizenship through its Citizenship by Investment Program; there are no residency requirements and citizenship is extended to all dependent family members including parents.

– Nevis is an independent country with a stable, democratically-elected government, based on British Common Law.

– Nevis has a well-educated, English-speaking workforce, a modern infrastructure of roads, air and sea ports, and telecommunications, including both wireless and Internet service.

– Nevis is a member of the Eastern Caribbean Currency Union (ECC). Its exchange risk is rated moderate in terms of economic and political risk and low in terms of financial system risk.

– The offices of the St. Kitts & Nevis Merchant Shipping Act and Maritime Regulations (SCANreg) are based upon English law and have been accredited by the American Bureau of Shipping.

– The rules and regulations that dictate Nevis offshore company formation and operation are spelled out in The Nevis Business Corporation Ordinance-1984. The latter has been modeled on Delaware corporate statutes and is considered to be one of the most flexible corporate statutes for a tax haven. Within this ordinance, the regulations are spelled out for the formation of Nevis companies, how the Nevis company registry is maintained and the duties of the office of  the Nevis Registrar of Companies.

– The Nevis corporation law for international businesses (IBC) allows international portability of companies from their country of origin to Nevis. Known as the ‘re-domiciling provision’; a corporation in the United States, Great Britain, or any other country can be transferred smoothly and instantaneously to Nevis without any need to change its name or its date of incorporation.

– Nevis, with its tropical climate and easy-going lifestyle, coupled with a touch of old world charm is a pleasant place to visit or relocate to.

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Why Choose Nevis as an Offshore Tax Havennevis ibc

For people looking to go offshore in an English-speaking country, with a stable democracy, and an easy-to-understand legal system founded on British Common Law, Nevis may be an excellent alternative.

In addition to being known as one of the most flexible tax havens for offshore company formation, Nevis offers an idyllic tropical climate. With its close proximity to Miami and only one hour ahead of New York’s time zone, you may also want to consider this Caribbean island nation as a retirement destination.

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nevis ibc

Overview of a Nevis International Business Company (IBC)nevis ibc

A Nevis offshore company, or International Business Company (IBC) is an extremely flexible jurisdiction for potential individuals and business seeking to incorporate offshore.

Nevis, together with St. Kitts, is part of the Leeward Islands in the Southern Caribbean; the two islands make up the smallest state in the New World. Nevis offers a world-class infrastructure for corporate offshore services, as well as appealing retirement and residency incentives in an idyllic tropical location, making it an attractive jurisdiction for offshore businesses.

Nevis has rapidly become one of the most convenient and favoured offshore company locations in the world, through the enactment of the Nevis Business Corporation Ordinance Act 1984. The accommodating and open offshore environment has made Nevis IBCs an exceptional product due to simple offshore regulations and ease of formation procedures.

Nevis, now part of the British Commonwealth (achieving independence from Britain in 1983), offers a stable political environment and a well-educated and English speaking workforce. The country boasts having some of the most secure IBC laws in the world, which ensure client confidentiality and privacy with low financial risk, making Nevis a top destination in the offshore market.

Advantages & Top Uses of a Nevis IBC

Advantages of a Nevis IBC

There are a number of advantages in forming an offshore company in Nevis. A Nevis IBC offers:

Remote Access

There is no need for you to be on Nevis to conduct the affairs of your IBC. Banking, contract signing, and investing can all be handled remotely and remain in compliance with Nevisian law

Flexibility of Ownership and Management Structure

There are no residency requirements for Directors, Shareholders or Officers. Corporate or Trust entities may act as Director, Secretary or Shareholder.

Citizenship and residential opportunities

Nevis offers citizenship opportunities through its Citizenship by Investment Program. Similarly their Citizenship by Residency Program has been in effect since 1984 and claims to have a very high approval rating, the citizenship process taking less than 6 months. There are no dual-citizenship restrictions and no tax requirements for individuals who decide to take up residence. Both citizenship and residency bring with them generous incentive packages as well as being able to reside in most other Caribbean countries.

Confidentiality and Privacy

The government of Nevis has exhibited a total commitment to maintaining the privacy and protection of those involved in legitimate business practices. Neither Nevis nor St. Kitts have been tainted by reports of money laundering or tax evasion unlike a number of other offshore jurisdictions.

Tax Incentives

A Nevis offshore company is exempt from taxation on income generated anywhere in the world outside of Nevis. There are no income taxes to be paid, nor are there estate, inheritance, gift, duty, or capital gains taxes. Similarly, there are no corporate tax, income tax, withholding tax, stamp tax, asset tax, exchange controls or other fees or taxes are levied in Nevis on assets or income originating outside of Nevis.

Other advantages include:

– Re-domiciliation of other foreign companies into and out of Nevis

– There are no limitations on corporate ownership.

– Plaintiffs in adverse suit being brought in Nevis would be required to post a $25,000 bond.

– Nevis permits sole director IBC’s

Top Uses of a Nevis IBC

A Nevis IBC can be made for any legal purpose and for any legal activity. Some of the more popular uses for a Nevis offshore company include, but are not limited to:

– Estate planning

– Asset protection and confidentiality

– Tax reduction planning

– Holding company

– Financial management

However, a Nevis-based IBC is limited from conducting business within Nevis or in the real estate market, as well as in banking, insurance, fund and collective investment sectors.

nevis ibc


Nevis Company Corporate Details
General
Type of Entity Offshore Exempt Company (NBCO)
Type of Law British Common Law
Governed by Business Corporation Ordinance 1984
Registered Office in Nevis Yes
Shelf company availability Yes
Our time to establish a new company 1-2 Business days
Minimum government fees (excluding taxation) USD $200
Corporate Taxation No
Access to Double Taxation Treaties Yes
Share capital or equivalent
Standard currency Eastern Caribbean Dollar
(Pegged to the USD 1 = XCD 2.7)
Permitted currencies Any
Minimum paid up USD $1
Usual authorized USD $50,00
Bearer shares allowed Yes
No par value shares allowed Yes
Directors
Minimum number Three
Local required No
Publicly accessible records No
Location of meetings Anywhere
Corporate directorship allowed Yes
Shareholders
Minimum number One
Publicly accessible records No
Corporate shareholder allowed Yes
Location of meetings Anywhere
Company Secretary
Required Yes (Individual or corporate entity)
Local or qualified No
Accounts
Requirements to prepare Yes
Audit requirements No
Requirements to file accounts No
Publicly accessible accounts No
Recurring Government Costs
Minimum Annual Tax / License Fee USD $200
Annual Return Filing Fee No
Other
Requirement to file annual return No
Migration of domicile permitted Yes

nevis ibc

Requirements for Incorporation of a Nevis IBC

In order to establish a Nevis IBC, a company must submit the Articles of Incorporation to the Registrar of Companies, which includes the name of the company, name and address of the register company, together with the appropriate fee.

Taxation of a Nevis International Business Company (IBC)

A Nevis offshore company is exempt from taxation on income generated outside of Nevis. Similarly there are:

– No income taxes

– No estate taxes

– No Inheritance taxes

– No Gift taxes

– No Duty taxes

– No Capital gains taxes.

– No Corporate tax

– No Income tax

– No Withholding tax

– No Stamp tax

– No Asset tax

All IBC’s are free from all forms of Nevisian taxation. There are no Nevisian taxes on dividends or capital distribution or wages. Moreover, unlike many onshore jurisdictions, Nevis does not tax an IBC for accumulated (but undistributed) earnings. The wealth of your IBC can grow continually and will be free from Nevisian tax.

At Sovereign, we combine this powerful advantage with a powerful option to have a Panamanian Foundation own the shares of the IBC.

Corporate Details of a Nevis IBCnevis ibc

Company Shares

A Nevis IBC are allowed bearer shares and shares with no par value.

Required Capital

A Nevis IBC has no minimum capital requirement.

Financial Statements Required

A Nevis IBC does not need to file any statements nor are there audit requirements, however a company must keep financial records.

Directors

A Nevis IBC must have a minimum of three (3) Directors, none of which need be a local individual. Corporate Directors are allowed.

Company Secretary

A Nevis IBC must appoint a secretary, which can be an individual or a corporate entity, and does not need be qualified or a local resident.

Shareholders

A Nevis IBC requires a minimum of one (1) shareholder.

Trading Restrictions

An IBC cannot do business within Nevis nor conduct business in real estate and must get a license and proper approval to operate as a banking or insurance business.

Language of Legislation and Corporate Documents

English

Registered Office Required

A registered office must be kept Nevis, though a physical presence is not necessary.

Local Presence

None

Shelf Companies Available

Yes

Time Required to Form Offshore Company

1-2 Business days.

Name Restrictions

Any name that is identical to or similar to an existing company or any name that is deemed undesirable, suggests an illegal activity, or any name that may imply government patronage by the Register.

Language of Name

A Nevis IBC company name may be in any language that uses the Latin alphabet. If the name is in a foreign language the register may request an English translation.

Requiring a Special License or Permission

A Nevis IBC must obtain permission/approval/license if business is engaged in activities related to bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, municipal, Chamber of Commerce, or university.

Permitted Limited Liability Suffixes

Limited, Company, Corporation, Incorporated, Sociedad Anonima or other abbreviations.

Principal Corporate Legislation

The rules and regulations that dictate Nevis offshore company formation and operation are spelled out in The Nevis Business Corporation Ordinance-1984. The Act was updated in 2011 and is currently titled the Nevis Business Corporation Ordinance 2011.

The 1984 Act, Ordinance No. 3 is now referred to as the Principal Ordinance. The latter has been modeled on Delaware corporate statutes and is considered to be one of the most flexible corporate statutes for a tax haven.

Within this ordinance, the regulations are spelled out for the formation of Nevis companies, how the Nevis company registry is maintained and the duties of the office of the Nevis Registrar of Companies.

Re-domiciling Provision

The Nevis corporation law for IBCs allows international portability of companies from their country of origin to Nevis. Known as the ‘re-domiciling provision’; a corporation in the United States, Great Britain, or any other country can be transferred smoothly and instantaneously to Nevis without any need to change its name or its date of incorporation.

Directors and Shareholder Meetings

Shareholders and directors may act by unanimous consent, without a meeting. Shareholders and directors may issue proxies in writing.

Privacy

All of the affairs of a Nevisian IBC are private and cannot be disclosed except under truly extraordinary circumstances. The only document that needs to be filed with the government is the annual corporate license and this contains minimal information.

There is no requirement than an annual report or annual financial return be disclosed to the government. Nevis does not require any government inspection of your IBC’s financial or business records.

Anonymity and Confidentiality

Nevisian law permits the use of nominee shareholders, officers and directors. This means that Sovereign Management & Legal can act as a nominee (substitute) director and officer on behalf of IBC’s. Thus the true directors, officers and shareholders can remain undisclosed.

Bearer Shares

Nevisian corporate ownership can remain completely anonymous via the use of bearer shares. Bearer shares can be issued to a nominee who assigns them to the owners and ownership is completely private.

Be aware, however, that Bearer Share Companies, in general, open themselves up to more scrutiny and a strong indication of possible wrongdoing can be assumed if the company in question gets into legal difficulties.

This is why we recommend the Nevis IBC to be set up with registered shares that are owned by the Foundation. It sends a very strong message to any would be litigant or creditor.

Read our Panama Foundation & IBC Combination Options article for further information about the bulletproof strategy of utilizing an IBC combined with a Foundation.

Exchange Control

There are no exchange controls in Nevis for offshore companies locating in or investing in the country. An offshore company investing in the Nevis economy is known as an International Business Corporation, or IBC.

Nevis does have exchange controls in place that are applied to the Currency Board Arrangement established within the Eastern Caribbean Currency Union, but these controls do not apply to offshore companies.

Type of Law

Nevis law is based on English common law.

License Fee

USD$200

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Overview of a Nevis Limited Liability Company (LLC)

If your primary goal is not legal tax efficiency but simply access to a low cost way of sheltering assets and providing privacy, a standalone Nevis Limited Liability Company may be ideal. A Limited Liability Company (or LLC) is a form of company or corporation that enjoys some distinctions from “normal” companies. At the most simple level, think of an LLC as a sleek cross between a company and a partnership, with all of the benefits of both.

The general advantages of LLCs are enhanced by the jurisdictional advantage of Nevis, the first offshore financial centre anywhere to enact a Limited Liability Ordinance.

Advantages of a Nevis LLCnevis llc

Excellent Privacy

– Since the beneficial owners and/or managers are not registered anywhere an LLC provides complete anonymity.

– Nevis has strict privacy oriented laws that forbid any registering, recording, or disclosure of directors and shareholders of exempt companies incorporated there. This means that no annual or other reports by members need to be filed in the public records of Nevis; therefore, there is complete anonymity and their identities are not accessible by any outside party.

– The company’s records may be located anywhere in the world.

– All of the affairs of the LLC are private and cannot be disclosed except under truly exceptional circumstances such as links to international terrorism. The only document that needs to be filed with the government is the annual corporate license and this contains minimal information. There is no annual report or annual financial return that needs to be made to the government. There is no public inspection of your LLCs’ records. Confidentiality is further enhanced if the LLC appoints our company as manager and we perform the minimal corporate duties required under Nevisian law.

Excellent Asset Protection Features

– A Nevis LLC enables you to protect your assets and funds from government agencies, creditors, and lawsuits.

– As an owner, you are not exposed to personal liability.

– As an owner, you can participate in management without becoming personally liable for the company’s debts.

– A Nevis LLC is particularly advantageous for asset protection purposes since there are no shares that can be attached by a court of law.

– Members are not liable for obligations of the company.

Tax Freenevis llc

All LLCs are free from all forms of Nevisian taxation. There are no Nevisian taxes on dividends, income, capital distribution, or wages whatsoever. Moreover, unlike many onshore jurisdictions, Nevis does not tax an LLC for accumulated (but undistributed) earnings

Enhanced Confidentiality

Nevisian LLC laws contain many requirements related to confidentiality including strict financial secrecy laws. Strict legal requirements, known as fiduciary duties, would also govern the behavior of Sovereign Management & Legal if acting as a manager of an LLC.

These fiduciary duties are imposed on managers by both the equivalent of the LLCs bylaws and by the proper law of the LLC (usually the law of the country where the manager is located, i.e. Panama). Many of these fiduciary requirements relate to secrecy and accounting obligations by which the manager must abide. Nevisian LLC and Panamanian law prevent our company from discussing your LLC business with anyone you have not instructed us to talk to.

Other governments’ agencies such as the Internal Revenue Service in the United States, Revenue Canada, or the Inland Revenue in the United Kingdom cannot force Sovereign to discuss your business with them unless they obtain a court order against you or us or both, ordering us to make disclosure.

But a court order from their respective jurisdiction is useless in Nevis or Panama. In accordance with strong Nevisian law, a judgement from outside of Nevis will not be recognised by Nevisian courts. This means an onshore judgement creditor who won a lawsuit against you or your LLC in, for example, the U.S. or Germany cannot take that U.S. or German judgement and require a Nevisian court to enforce it.

In addition to not recognizing the judgements of other countries, Nevisian law and Nevisian courts do not favor the granting of court orders against LLCs except under truly exceptional circumstances. Nevisian law favors upholding the independence and application of its own law over the enforcement of foreign, onshore laws.

nevis ibc

LLCs Provide These Additional Advantages

– LLCs provide a mechanism by which managers can limit the authority of non-managing members.

– LLCs have no limitation on the number of members.

– There are no limitations on ownership of an LLC.

– No corporate tax, income tax, withholding tax, stamp tax, asset tax, exchange controls or other fees or taxes are levied in Nevis on assets or income originating outside of Nevis.

– Members of Nevis LLCs may be individuals or business entities of any nationality or domicile.

– Nevis LLCs may amend their Articles of Organisation, merge, or consolidate with other domestic or foreign LLCs or other business entities.

– Members of Nevis LLCs may assign their interests to other parties unless restricted otherwise.

– Nevis permits sole member LLCs.

– Management of LLCs may be accomplished by the members or by managers designated by the members.

– Nevis LLCs face no stock limitations and can issue preferred interests analogous to preferred stock of corporations.

– A Nevis LLC is an excellent vehicle if used by a group of investors for a joint venture investment. In this respect it functions as if it were a Limited Partnership, but with all the added features and advantages mentioned above of an LLC that Limited Partnerships for the most part do not have.

– A Nevis LLC can be set up within 24 hours and has low initial cost and low annual fees.

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