A charming island in the Caribbean Sea, Nevis boasts exceptional offshore services. Being a part of the Federation of St. Kitts and Nevis, it has flexible legislation that offers numerous benefits to foreign entrepreneurs. In Nevis, you will find efficient asset protection tools, which make it an attractive destination for business ventures. Just as important is the fact that the jurisdiction also allows for the purchase of shelf companies, a topic we will explore further below.
Secure and profitable: Nevis advantage for offshore companies
It is for a reason that Nevis is widely recognized as an offshore jurisdiction that offers significant tax benefits to business owners. Many clients prefer Nevis over other places because it exempts global income, capital gains, and dividends from taxation, thereby reducing tax burdens and maximizing profits.
In addition to tax incentives, Nevis provides strong confidentiality and asset protection. The island’s legislation guarantees that the personal information of company UBOs, directors, and shareholders remains confidential and protected from public access.
Nevis also has reliable mechanisms in place to protect assets from creditors and other third parties. The result is a secure environment for businesses. Resident companies enjoy freedom from currency controls, which make easy international money transfers and efficient capital management possible. Due to the combination of flexibility, security, and financial efficiency, Nevis is an ideal jurisdiction for you to register or purchase a company.
IBC vs. LLC: which company structure is right for your Nevis business?
In Nevis, the two most popular types of company ownership are the International Business Company (IBC) and the Limited Liability Company (LLC). These structures let businesses take full advantage of what Nevis has to offer. Should you need help along the way, the International Wealth team is here to assist with buying a shelf company or registering a new one in Nevis.
Clients often ask us which type of company ownership is better: an IBC or an LLC.
The truth is, both corporate structures boast numerous benefits, but there are also important differences between them. Below, we will discuss these in more detail.
IBCs in Nevis
A Nevis International Business Company (IBC) is a legal entity that is governed by the International Business Companies Ordinance and designed for international business operations. It offers substantial fiscal and legal perks to foreign entrepreneurs.
As a rule, IBCs are established by large offshore organizations or international corporations that do not plan to conduct business within the jurisdiction where the company is domiciled.
An IBC is ideal if your company requires multiple shareholders because of the confidentiality its beneficial owners, directors, and shareholders enjoy.
Nevis IBCs benefit from minimal reporting requirements and are exempt from audit obligations. If you wish to purchase a shelf IBC, you can appoint nominee directors and shareholders. Local legislation does not require shareholder meetings to be held in the jurisdiction.
These legal entities are not subject to income tax, which helps minimize tax liabilities and optimize cash flow. Entrepreneurs from various countries use Nevis-based IBCs for diverse business activities, including trade, investments, consulting, and asset management.
A Nevis IBC can hold bank accounts, own property (including IP), and possess shares in other companies. If you prefer to buy a shelf company without a bank account, we will help you open a corporate bank account in Nevis without further delay.
LLCs in Nevis
A Limited Liability Company (LLC) is an efficient corporate structure. Likewise, it falls under the provisions of Nevis Limited Liability Company Ordinance and is used for multiple purposes.
LLCs are usually formed as small private companies. As permitted by Nevis legislation, they can have a single owner. The name per se explains why LLCs are so popular: the owner’s liability is limited to their contribution to the company’s capital. As a matter of fact, many of our clients choose to establish LLCs in Nevis to run international business operations.
Unlike an International Business Company (IBC), an LLC can conduct business in its incorporation jurisdiction while benefiting from preferential tax treatment, but only if it meets certain conditions. Nevis LLCs are free to choose their tax status, either as a partnership or a corporation, which offers excellent opportunities for tax planning.
It is standard practice for international investors who want a traditional corporate structure with minimal reporting to choose International Business Companies. However, LLCs offer more flexibility in management and taxation, and are thus suitable for different business models.
Starting your Nevis business: shelf company checklist
Would you like to kickstart your Nevis business? A shelf company may be a perfect solution. However, a decision to purchase one requires careful consideration. Here are the key points to keep in mind:
- Operational History: To avoid potential legal issues, opt for a company with no prior operations. Make sure it has no debts, pending claims, or financial obligations.
- Corporate Documentation: Confirm that all corporate documents are complete and comply with legal standards.
- Bank Accounts: If the shelf company comes with a bank account, verify its usability and check for any restrictions.
- Expert Advice: Consult with a lawyer or tax specialist before purchasing a ready-made offshore company. Make sure all aspects are clear and in line with your business goals. You may also need assistance with notarizing and apostilling documents.
Get your Nevis business up and running with International Wealth
If you are about to establish a company in Nevis, look no further than International Wealth! We will gladly help you either register a new company or purchase an existing one.
At the end of the process, you will obtain a fully operational business in Nevis, complete with the following corporate documents:
- Certificate of Incorporation
- Articles of Incorporation and By-Laws
- Minutes of the first meeting with director appointment
- Register of Directors
- Register of Shareholders
- Share certificates in your name (or in the names of nominees)
- A set of apostilled corporate documents.
Book your consultation today!
Willing to find out more about Nevis companies or the services International Wealth offers? You are welcome to request a personal consultation. Reach out to us in any way you prefer, and we will get back to you in the blink of an eye!
