On the 1 July 2015 Nevis made a number of significant amendments to its existing Corporation, LLC and Trust laws making it a very attractive jurisdiction, especially for those whom asset protection is of primary concern.
A summary of some of the more notable changes can be found below:-
- Corporations are now permitted to have a sole director
- Share Certificates are now optional with the share register being the recognised record of shareholdings
- Single member LLC’s are now permitted
- It is now possible to convert an LLC to a corporation
- There is now no limit on the duration of international trusts or the accumulation of income
- It is now possible to combine and divide trusts
Nevis corporations are inexpensive and fast to incorporate. They are exempt from all local taxes and do not have public registers and are therefore ideal for those who seek confidentiality. With their minimal filing requirements they are a cost effective choice for those looking to incorporate an offshore company.
Nevis was the first jurisdiction to enact LLC statutes. Its LLC’s have both the lawsuit protection benefits of a corporation and the asset protection provisions of a limited partnership. It also has members rather than shareholders making it impossible for shares to be seized by a court of law. Therefore it is an ideal jurisdiction for those looking for somewhere with a long standing reputation with formidable asset protection.
Nevis trusts are also exempt from all forms of Nevis taxation and can be either under the law of Nevis or any other jurisdiction. They also have effective asset protection and privacy controls.
If you would like to hear more about how a Nevis entity might be of benefit to you or how it compares to other jurisdictions, then please do not hesitate to contact us.