Why Form a Nevis Corporation?
Nevis, a small island in the Caribbean, is a part of the politically independent Federation of Saint Kitts and Nevis. Since the adoption of the Nevis Business Corporation Ordinance in 1984 Nevis has become an attractive and convenient offshore business location.
The government of Nevis is committed to assisting international investors which combined with Nevis convenient location and the fact the Nevis laws are based on US and British legal principles makes Nevis a logical location for American and British businesses to consider when forming an offshore corporation.
Advantages of an offshore corporation
Many investors and business people are attracted to offshore corporations as a way to avoid complicated legal requirements, potential lawsuits and to enhance the privacy and security of their corporate assets.
An offshore corporation can provide the owner financial confidentiality and asset protection. A personal offshore bank account offers little security or privacy. However, an offshore account in the name of an offshore corporation will provide the investor with both asset protection and privacy.
An offshore corporation is not a legal way to avoid taxes. Taxes for US citizens and many citizens of other western countries are paid on worldwide income. However, an offshore corporation can help to preserve assets and privacy while remaining tax compliant.
Nevis offers a stable government and a stable economic environment with strong and safe banks. Nevis also has an impressive communication infrastructure which makes it an attractive offshore home for your business or investments. Nevis corporate laws are based on British and United States legal concepts and written in English, a big benefit for American and British businessmen. These factors alone make Nevis worth looking into as an offshore home for your corporation but even more attractive are the provisions the Nevis government has written into the Nevis Business Corporation Ordinance. The ordinance provides Nevis corporations:
• Are exempt from Nevis taxes• Are protected by strict privacy laws• Assets are protected at a level that is better than many other countries offering offshore business opportunities• Do not have to disclose corporate owners, officers, or directors in any public record• Corporate officers or directors may conduct business without a meeting if they are in unanimous agreement• Do not have to file annual corporate financial returns• May locate corporate offices and records anywhere in the world• May create corporate control without ownership• May choose officers or directors that are not citizens of Nevis• May issue bearer shares
Nevis also offers similar benefits to Limited Liability Corporations (LLCs). Nevis’ LLC’s offer superior asset protection including a provision providing if a member of an LLC is sued and a judgment results, the Nevis law protects the LLC and assets held by the LLC from seizure.
It is also not insignificant that the Nevis corporate laws make it extremely easy to create an offshore Nevis corporation quickly and inexpensively compared to other popular offshore locations.