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Company Incorporation
Nevis
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An offshore company (IBC) in St. Kits and Nevis is only $984:
Basic: Names of directors and shareholders are not made public. Options: Annual maintenance fees
after first year: Bank Of Nevis International To open offshore accounts the following information on the beneficial owners, whether or not they are signatories to the account, must be provided to the bank)
Please be advised that the bank
will not do any transactions that are related to internet gaming. Any
account found to be engaged in same will be closed. |
Incorporation Fee: $3
Apostille: $150 (required for bank acc)For your convenience, we have included a Cost Calculator in the order form:
We are pleased to provide a summary of the salient features of companies incorporated in Nevis.
[ BACKGROUND ] [ COMPANY FORMATION ]
[ SHARE CAPITAL, TAXATION, LICENCE FEES &
COMPLIANCE ]
[ STRUCTURE OF MANAGEMENT ]
CORPORATE FEATURES
| GENERAL | |
| Type of Company | NBCO |
| Political Stability | Good |
| Common or Civil Law | Common |
| Disclosure of Beneficial Owner | No |
| Migration of Domicile Permitted | Yes |
| Tax on Offshore Profits | Nil |
| Language of Name | Latin Alphabet |
| CORPORATE REQUIREMENTS | |
| Minimum Number of Shareholders | One |
| Minimum Number of Directors | One |
| Bearer Shares Allowed | Yes |
| Corporate Directors Permitted | Yes |
| Company Secretary Required | Yes |
| Standard Authorised Share Capital | US$ 100,000 |
| LOCAL REQUIREMENTS | |
| Registered Office/Agent | Agent only |
| Company Secretary | No |
| Local Directors | No |
| Local Meetings | No |
| Government Register of Directors | No |
| Government Register of Shareholders | No |
| ANNUAL REQUIREMENTS | |
| Annual Return | No |
| Submit Accounts | No |
| RECURRING GOVERNMENT COSTS | |
| Minimum Annual Tax/Licence Fee | US$ 200 |
| Annual Return Filing Fee | N/A |
GENERAL INFORMATION
Longitude and is located in the Leeward Islands approximately 2,000 km
south-east of Miami. Mount Nevis lies in the centre of the 92 sq km Island and towers 985 metres. Columbus sighted and named the Island on his second voyage in 1493. The climate is
nearly perfect and the variation in altitude and soil conditions creates a natural garden
of tropical vegetation ranging from rain to near desert.
POPULATION
The population of Nevis is 8,500 with 35,000 residents in the neighbouring
island of St. Kitts.
POLITICAL STRUCTURE
Nevis was a British colony from 1628 until 1983 when it became independent
and joined the Federation of St. Kitts and Nevis. The Federation is an active member of
the British Commonwealth. Nevis is a vigorous democracy based upon the British
Parliamentary system with an elected local assembly. An independent study has ranked the
Federation of St.
Kitts and Nevis as one of the ten freest nations in the world for seven years running.
INFRASTRUCTURE AND ECONOMY
Excellent communications facilities offer direct dialling from the US,
Canada and Europe. World-wide telex, facsimile and telegraph services are operated by
Cable and Wireless. Direct air services to North America are provided by BWIA and Air
Canada on a scheduled basis. LIAT, WINAIR and American Eagle link Nevis with other
Caribbean Islands. From Europe, service is provided by British Airways, Lufthansa, Air
France and Iberia via stops in neighbouring Islands.
Nevis does not have a deep-water port; however, it has an important mooring basin for yachts.
The economy has traditionally depended on the growing and processing of sugar cane; decreasing world prices have hurt the industry in recent years. Tourism and export oriented manufacturing have begun to assume larger roles, although they still only represent approximately 7% and 4% respectively of GDP. Growth in the construction and tourism sectors has spurred the economic expansion of the Island. Most food is imported.
LANGUAGE
English is the official and commercial language of the Island. Nevis
enjoys a literacy rate of 96%, one of the highest in the Western Hemisphere.
CURRENCY
Eastern Caribbean Dollar, which is fixed to the US Dollar.
EXCHANGE CONTROL
None.
TYPE OF LAW
Common Law based on English Common Law.
PRINCIPAL CORPORATE LEGISLATION
Nevis Business Corporation Ordinance 1984.
COMPANY FORMATION
TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT
Offshore Exempt Company (NBCO).
PROCEDURE TO INCORPORATE
By submission of the Articles of Incorporation to the Registrar of
Companies, together with the appropriate fee.
RESTRICTIONS ON TRADING
A Nevis company incorporated under the Business Corporation Ordinance 1984
may not trade within Nevis, or own real estate there. A company incorporated under the
said Act may not engage in the business of banking, insurance, assurance, reinsurance,
fund management, collective investment schemes or any other activity that would suggest an
association with the banking or Insurance industries.
POWERS OF COMPANY
A company incorporated in Nevis has the same powers as a natural person.
LANGUAGE OF LEGISLATION AND CORPORATE DOCUMENTS
English.
NAME APPROVAL REQUIRED
Yes.
shelf COMPANIES AVAILABLE
Yes.
TIME TO INCORPORATE
Two days, but allow five days for delivery of documentation.
NAME RESTRICTIONS
Any name that is identical to or similar to an existing company. Any name
that in the opinion of the Registrar is undesirable or suggests an illegal activity or any
name that may imply government patronage.
LANGUAGE OF NAME
May be in any language that uses the Latin alphabet. The Registrar may
request an English translation if a foreign language name is used.
NAMES REQUIRING CONSENT OR LICENCE
Bank, building society, savings, loans, insurance, assurance, reinsurance,
fund management, investment fund, municipal, Chamber of Commerce, university or their
foreign language equivalent.
SUFFIXES TO DENOTE LIMITED LIABILITY
Limited, Company, Corporation, Incorporated, Sociedad Anonima,
Gesellschaft mit beshränkter Haftung or their abbreviations.
DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES
None.
SHARE CAPITAL, TAXATION, LICENCE FEES AND COMPLIANCE
MATTERS
AUTHORISED AND ISSUED SHARE CAPITAL
Normally the authorised share capital is either 1,000 no par value shares or US$ 100,000 par value shares. The minimum issued capital is one share of no par value or one share of par value.
CLASSES OF SHARES PERMITTED
Registered shares, bearer shares, preference shares, redeemable shares and
shares with or without par value.
BEARER SHARES PERMITTED
Yes.
TAXATION
A Nevis offshore exempt company is exempt from local taxation.
LICENCE FEES
There is an annual registration fee of US$ 200 payable to the Minister of
Finance.
DOUBLE TAXATION AGREEMENTS
Although Nevis does have double tax agreements, a company incorporated
under the Nevis Business Corporation Ordinance 1984 cannot obtain any treaty relief
through them.
FINANCIAL STATEMENT REQUIREMENTS
Whilst there is no requirement to submit or file audited financial
statements, a Nevis company is required to maintain financial records to reflect the
financial position of the company.
STRUCTURE OF MANAGEMENT
DIRECTORS
The minimum number of directors is three if the number of shareholders is
three. If fewer than three, the number of directors may be equal to the number of
shareholders. The directors may be natural persons or bodies corporate and may be of any
nationality and need not be residents of Nevis.
COMPANY SECRETARY
A Nevis exempt company must appoint a company secretary, who may be a
natural person or a body corporate may be of any nationality and need not be resident in
Nevis.
SHAREHOLDERS
The minimum number of shareholders is one.
For your convenience, we have included a Cost Calculator in the order form:
Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.
Please go to our Uses of offshore Companies Page where you will find interesting information on the benefits of using offshore companies and trusts for business and personal use, links to information on other locations and details of our products and services.
