Nevis Business Corporation
- Lower levels of formality, filing and regulation compared to many other international company jurisdictions.
- Sole shareholders and directors are permitted and directors need not be resident in Nevis. Secretaries are optional.
- Identity of directors, shareholders and beneficial owners is held by Nevis registered agent and is not retained in any centralized register.
- Business Corporation accounts and transactional records must be retained by Nevis registered agent or at such other place as directors think fit. BCs must file a Simplified Tax Return in Nevis each year which confirms where the BC is managed and controlled from and therefore where it is tax resident. Only BC which are tax resident in Nevis are liable to Nevis income tax.
Nevis Multiform Foundation
- Assets transferred to foundation prior to a creditor’s cause of action accruing are fully protected from the date of transfer.
- Assets transferred to foundation more than one year after a creditor’s cause of action has accrued are fully protected from the date of transfer unless that creditor has already commenced proceedings against the founder in respect of that cause of action.
- Assets transferred to foundation within one year of a creditor’s cause of action accruing are fully protected if the creditor fails to commence proceedings in respect of that cause of action within six months of the date of transfer.
- Flexible legislation allows foundations to take the form of a trust, company or partnership but remain subject to foundation legislation.
- Foreign judgments are not recognized.
- Foundations are not subject to forced heirship legislation in jurisdiction of founder or any beneficiary.
- Foundations may be established for indefinite periods.
- Foundations may be for charitable or non-charitable, and commercial or non-commercial, purposes.
- Robust confidentiality provisions make it an offence to disclose foundation information without authorisation.
- Foundation powers are exercised by a management board, which may be single-member, with optional oversight by a supervisory board. A secretary must be appointed and must be a person or entity other than a sole member of a management board.
Additional Advantages of Nevis
- Applications for Mareva Injunctions against Nevis international trusts are not permitted.
- Income generated from international trusts and foundations is not subject to Nevis income tax, although must generally be reported and may be taxable in the home jurisdictions of settlors, beneficiaries and/or other controlling persons.
- Nevis does not have beneficial ownership registers. Beneficial ownership information must be retained by trustee companies/registered agents and disclosed to the Nevis authorities on request.
- Proximity and similar time zone to east coast of USA makes maintaining contact with trustee/registered agent easier.