Trust Law in Nevis
Trust law: Nevis Offshore Foundation Advantages
Already in 1493, Christopher Columbus discovered the two beautiful islands with their dream beaches in the Lesser Antilles. In the midst of this paradisiacal environment, the inclined offshore founder may find the right economic framework. While St. Kitts traditionally focuses on tourism, Nevis focuses on offshore asset protection. More information for
Since the island state was formerly part of the British Empire, the official language is English and the legal system comes from English law. The official currency in St. Kitts and Nevis is the East Caribbean dollar, with the US dollar being widely recognized as a secondary currency.
The Nevis International Business Company and Nevis Limited Liability Company
The offshore Nevis site is treated under corporate law separate from the jurisdiction of St. Kitts. Common foundations for overseas founders include Nevis International Business Company (“IBC”) and Nevis Limited Liability Company (“LLC”). The tax benefits of Nevis IBC or Nevis LLC can be significant:
If income and earnings are generated through business and operations outside Nevis, they may be exempt from all local taxes, including income tax and income tax.
Privacy and Anonymity and Law Enforcement in Nevis
Nevis also offers the ultimate in anonymity, privacy and asset protection. Shareholders, beneficiaries and directors are not registered for the Government of Nevis and are not visible to the public. The publication of annual reports is also not required.
Also, the prosecution of Nevis registered IBC or LLC is not exactly straightforward. If a creditor of a Nevis IBC or LLC attempts to sue them or their owners, that creditor must first provide a non-refundable $ 25,000 security deposit and prosecute a Nevis-approved lawyer.
Other advantages of an offshore foundation in Nevis
- Stable political conditions and a stable economy
- Well developed infrastructure and structure in the financial industry services sector
- Good connections to North America and Europe (direct flights eg to Miami, New York, and London)
- Outstanding telecommunication system
- No foreign exchange restrictions
- Citizenship Opportunities for Investors (keyword Citizenship Act 1984)
- Shareholders’ meetings can be held worldwide. A trip to Nevis is so far unnecessary
Starting a business in Nevis can be a real alternative to the “classic” offshore locations. Especially for companies that aim for the highest level of anonymity, should inform themselves in more detail about the founding on the Caribbean island state.
Incidentally, Nevis has not concluded taxation agreements with other nations. Exchange or transfer of tax information is therefore not carried out by the Government of Nevis.