Nevis
Nevis is located in the Caribbean and together with the island of St. Kitts forms the Federation of St. Kitts and Nevis. A former British Colony until 1983 when it gained independence, Nevis has transformed from a sugar monocrop economy to one based on luxury tourism, export orientated manufacturing and offshore banking.
St Kitts & Nevis is a member of the Eastern Caribbean Currency Union (ECCU) which is managed by the Eastern Caribbean Central Bank which controls monetary policy and regulates commercial banking activities.
A number of International Banks are located in Nevis. Banking secrecy is strictly enforced by law and Nevis Authorities have no access to banking information. A court order is required to obtain information therefore coupled with the fact that corporate information is not publically accessible, Nevis one of the most highly confidential jurisdictions in which to incorporate.
Strengths of Nevis:
- Political stability coupled with the Government’s policy of maintaining the Offshore Haven Status for the foreseeable future.
- Highly confidential jurisdiction with restriction of public access to company records. Records can be located outside of Nevis and company changes are not required to be lodged with the Nevis Authorities.
- There are no personal or corporate taxes levied on income derived from outside Nevis.
- It is obligatory to prepare accounts but there are no filing or audit requirements.
- No exchange control with free repatriation of profits and capital.
- Not party to either the EU Savings Tax Directive or compulsory disclosure as Nevis is a sovereign state independent of the UK.
- Sophisticated banking system with a wide range of international banks located in Nevis.
Summary of Requirements for a Nevis LLC, IBC
| General Information |
| Type of Company |
Limited Liability Company |
| Timescale to incorporate |
3 working days |
| Corporate Taxation |
Nil |
| Double Tax Treaty Access: |
None. Although Nevis does have double tax agreements an LLC cannot obtain any tax relief through them. |
| Directors |
| Minimum No. Required |
1, Corporate Directors are permitted |
| Local Director Required |
No |
| Publicly accessible information |
No |
| Location of Meetings |
Anywhere |
| Shareholders |
| Minimum No. Required |
1, 100% foreign shareholders allowed |
| Publicly accessible information |
No |
| Location of Meetings |
Anywhere |
| Company Secretary |
| Required |
No |
| Local Secretary Required |
N/A |
| Registered Office / Agent Required |
Yes |
| Share Capital |
| Standard Currency |
USD |
| Standard Authorised |
USD 100,000 |
| Minimum Paid Up Capital |
N/A |
| Accounting & Compliance |
| Requirements to prepare Accounts |
Yes |
| Requirement for Audit |
No |
| Local Auditor Required |
N/A |
| Requirement to File Accounts |
No |
| Requirement to file Annual Return |
No |
| Additional Information |
| Bank Account Opening |
Eltoma Corporate Services can open a bank account in Cyprus for a Nevis Company without presence. We can also offer bank accounts in a number of other jurisdictions, please contact us for information. |
Procedure to Incorporate:
Incorporating in Nevis is very straightforward. Eltoma require the following to proceed:
- A completed Company Incorporation Application Form
- A copy of the passport of the Beneficial Owner, Director and Shareholder
- A recent utility bill (under 3 months old) for the Beneficial Owner, Director and Shareholder
Fee Schedule (USD):
| Incorporation |
- All Government License Fees
- Certificate of Incorporation
- M&AA
- First Minutes
- Share Certificates
- Apostilled Corporate Document Set
- Registered Office Fee
- Registered Agent Fee
- Company Stamp
- Courier Fees
|
USD 1,400.00 |
| Bank Account Opening Fees |
| Cyprus Bank Account Opening Fee |
From USD 325.00 |
| Bank Accounts in other jurisdictions |
Quoted Required |
| Annual Renewal Fee |
- Registered Office
- Registered Agent
- Government License Fees
|
USD 850.00 |
| Nominee Fees: |
| Individual Cypriot Nominee Director
Corporate Belize Nominee Director
Individual Cypriot Nominee Shareholder
Corporate Belize Nominee Shareholder |
USD 325.00
USD 200.00
USD 250.00
USD 150.00 |
|
