Nevis has over 35 years’ experience as an international financial services centre. Nevis’ political structure is that of a Federation (the Federation of Saint Kitts and Nevis) and is based on the parliamentary system of Westminster, uniquely, Nevis has its own unicameral legislature and has considerable autonomy in its legislative branch.

Nevis is an independent Federation and not an Overseas Territory of the UK.

Banks

Banks in Nevis offers a full range of banking services:

• opening of deposit accounts with attractive interest rates
• credit and debit bank cards
• Brokerage
• currency exchange services (both fiat and crypto currencies)

All the above services are available to the bank’s clients. So, your bank account in Nevis can become an excellent instrument for the modern international business persons who are always focused on developing their company and increasing its profits. Banks in Nevis operates via a direct connection the SWIFT system. Thanks to that, it can carry out fast transfers in EUR and USD together with nine other major world currencies. 

Captive Insurance

As a low-cost yet prudent, sustainable captive domicile, Nevis offers a suitable alternative to other offshore captive insurance domiciles. Nevis offers low minimum share capital and margin of solvency requirements while ensuring that licensed insurers are adequately capitalised based on their business plans.

Each captive insurance or other insurance entity must engage an insurance manager to handle their regulator and other requirements. The Nevis Financial Services Department is an open and friendly regulator keen to grow their captive business while maintaining strong oversight of its licensed entities.

Trusts

The use of the international trust remains an important feature of estate planning.

The Nevis International Exempt Trust Ordinance provides for the creation of various types of international trusts including Charitable Trust, Non-Charitable Trust, Spendthrift or Protective Trust and Qualified Foreign Trust.

To qualify as an international trust under the Nevis International Exempt Trust Ordinance, the following criteria must be met:

• There must be at least one trustee, which can be a corporation incorporated under the Nevis Business Corporation Ordinance;
• The Settlor and Beneficiaries must at all times be non-residents of Nevis; and
• The trust property must not include any land situated in St Kitts and Nevis.

Foundations

The Nevis Multiform Foundation Ordinance is a very unique and cutting-edge legislation which was designed to remedy some of the problems seen in other foundation products.

The Nevis Multiform Foundations Ordinance provides that each Nevis Foundation will have a stated ‘multiform’. This means that the constitution of the foundation will state how it is to be treated whether as a trust, a company, a partnership or an ordinary foundation. Through the ‘multiform’ concept the stated identity of the Foundation can be changed during its lifetime, thus allowing for there to be greater flexibility in its use and application. Generally, the Nevis Multiform Foundation product can be used for estate planning, charity, financing and special investment holding arrangements.

There are five basic requirements for establishing a Nevis Multiform Foundation:

• It must have a Nevis based registered agent
• It must have a Nevis registered office
• It must have an acceptable name
• It must have a management board and secretary and
• It must have a memorandum of establishment

Money Services Business

Money Services Business means the business of providing as a primary service any of the following: transmission of money or monetary value in any form; cheque cashing; currency exchange; the issuance, sale and redemption of payment instruments; any other services the Minister may specify by notice published in the gazette; or the business of operating as an agent or franchise holder.

International Business Company (IBC)

A corporation formed under the Nevis Business Corporation Ordinance (NBCO) is the equivalent of what is commonly termed as an International Business Corporation (IBC). The Nevis Business Corporation Ordinance provides for a corporation to be incorporated to conduct any lawful business. A person interested in incorporating an IBC in Nevis must first engage the services of a registered agent licensed by the Nevis Island Administration with a registered office in Nevis. The legislation stipulates that the office of the registered agent is the registered office of the corporation.

Limited Liability Company (LLC)

The Nevis LLC is a business entity that provides an alternative to those who might consider using corporations or partnerships. An LLC formed under the Nevis Limited Liability Company Ordinance (NLLCO) shall be a legal entity with separate rights and liabilities, distinct from its managers or members. Therefore, the LLC shall be liable for its own debts, obligations and liabilities.

An LLC formed in Nevis may be used for any lawful business purpose. It may be used for any legitimate business venture or professional practice including international financing arrangements for US or non-US operations, real estate holdings, manufacturing concerns and as an operational or investment vehicle for international trusts.

Nevis LLC Offshore Company Formation

• No taxes are levied in Nevis on income earned outside of the jurisdiction by a Nevis company.
• 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.
• 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.
• 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, directors and officers can be of any nationality and reside anywhere.
• No annual or other reports by shareholders or directors are required to be filed in the public records of Nevis.
• Beneficial ownership information is confidential.
• Bearer shares are permitted subject to be held by an approved custodian.
• A corporation formed in another jurisdiction may redomicile to Nevis.