Nevis Offshore Company
The islands of Nevis, St. Kitts and Anguilla were settled by the British is 1623. The main industries are agriculture, tourism and financial services. The language is English and the currency the Eastern Caribbean dollar. United States currency circulates freely. The State of St. Kitts and Nevis is a parliamentary democracy. The Head of State is the British monarch who is represented on the Islands by the Governor General. The National Assembly is directly elected and the Prime Minister is the leader of the party that wins the election.
The financial services industry is concentrated on the island of Nevis and came into being with the passing of the Nevis Business Company Ordinance 1984. This was followed by the Nevis Limited Liability Ordinance 1995 and further legislation covering banking, insurance and fund management. In 1999 further legislation required any business wishing to engage in the formation and management of companies and trusts must be licensed to do so. The finance sector is supervised by a Government Department, the Regulation and Supervision Department.
The form of corporate vehicle used by non-residents is the Nevis Offshore Exempt Company. The company has all the powers of a natural person but is not permitted to trade in Nevis or to own real estate there. The Nevis Offshore Company must have a Registered Agent in Nevis but, except for this, the directors and officers can reside and run the company from anywhere in the world. There is no disclosure of beneficial interest.
Nevis offshore company regulations |
|
| Type of entity | NBCO |
| Type of law | Common |
| Corporate taxation | Nil |
| Double taxation treaties available | No |
| Share Capital | |
| Usual currency | U.S.$ |
| Permitted currencies | Any |
| Minimum paid up | $1 |
| Usual authorised | Either $10,000 or $100,000 |
| Directors | |
| Minimum number | 1 |
| Local resident required | No |
| Records publicly available | No |
| Corporate Director allowed | Yes |
| Shareholders / Members | |
| Minimum number | 1 |
| Records publicly available | No |
| Location of Meetings | Anywhere |
| Company Secretary | |
| Required | Yes |
| Local or qualified | No |
| Accounts | |
| Required | Yes |
| Audit required | No |
| Filing required | No |
| Publicly available | No |
| Other | |
| Annual return required | No |
| Change of domicile permitted | Yes |
| Shelf companies available | Yes |
| Time to incorporate shelf co | 2-3 working days |
| Time to incorporate new co | 3-5 working days |
