Why incorporate in Nevis?
Nevis is located just west of the island of Antigua. Nevis and St. Kitts are twin islands that are 101 square miles in length. The currency in this jurisdiction consists of the Eastern Caribbean dollar however it is pinned to the USD. Nevis serves as an excellent offshore jurisdiction that allow that allows tax exemption from revenue made anywhere in the world excluding Nevis. Nevis is a first world country with an excellent infrastructure which includes direct dialing to the U.S, Canada, and Europe as well as many airlines that fly into the airport on the island. Also, recent growth in the construction and tourism sectors of the island has prompted an economic expansion of the island. The key piece of legislation in Nevis is The Nevis Business Corporation Ordinance which was enacted in 1984 modeled after the Delaware corporate statutes. The Nevis Business Corporation Ordinance was created with the needs of the modern day investor at the forefront of the ordinance’s priority. It also places ease on the directors and shareholders as the company’s financial records do not need to be allocated in Nevis, it may be kept outside the country.
Some of the benefits in Nevis include:
- No personal or corporate taxes upon income.
- Nevis allows an IBC to issue either registered shares or bearer shares or both.
- Nominee Directors are permitted.
- Nevis boasts privacy laws which keep Nevisian IBC’s in the strictest confidence and information can only released under extenuating circumstances i.e. criminal record that includes illicit activities such as drug trafficking, child pornography, money laundering etc. (This is essentially the only true restriction that Nevis implements)
- There is no requirement for the Nevisian government to investigate your IBC’s financial or business records. As a result your confidence is still maintained.
- If one wishes to conduct any affairs with said IBC there is no requirement for one to be in Nevis. Activities such as contract signing and banking can be handled from abroad so long as it complies with the law set forth within the jurisdiction of Nevis.
- Shareholders, officers, and directors are not bound to the island of Nevis, they may be stationed anywhere.
- If there is a change in shareholders or directors in need not be reported to the Registrar of Companies in Nevis.
- Shareholders and directors may act, by unanimous consent, without the need of a meeting being held.
- There are no exchange controls.
- Nevis possesses an excellent banking system with a wide variety of international banks.
- Income tax exemption.