How to Register Offshore Company in Nevis?

It's said that Nevis is the world's most liberal economy. Its tax regulations allow foreigners to register a Nevis business that can legally be exempt from corporate income tax. Although the country has no specific law governing the incorporation of offshore businesses, it is one of the most prevalent jurisdictions for the establishment of an offshore company due to its low tax regime, lack of foreign exchange controls, economic and political stability, ease of doing business as an offshore company, etc.

Nevis's Offshore business setup is a perfect vehicle for conducting offshore banking, investment, international trade, and asset protection activities. This guide will help you understand the procedure for establishing a Nevis offshore company. But first, let us know the benefits an organization can reap from the setup of offshore businesses.

Benefits of Offshore Company Setup in Nevis

The most suitable reasons for setting up an offshore business in Nevis are -

  • The country has signed twin tax treaties with six countries making Nevis offshore a big holding vehicle.
  • Nevis LLC provides maximum asset protection. In such a way that when a shareholder ("owner") of the LLC is sued, and judgment follows, the law provides that the corporation and its properties are secured from seizure.
  • Nevis' government has shown total commitment to safeguarding the privacy and protection of those involved in legitimate business practices.
  • An offshore company formation in Nevis is excluded from taxes on income earned outside Nevis anywhere in the world. There are no taxes on income to pay, nor are there taxes on the estate, inheritance, gift, duty, or capital gains.
  • The Nevis offshore offers opportunities for citizenship through its investment program Citizenship. There are no restrictions on dual-citizenship and no tax requirements for individuals who decide to reside. Both residency and citizenship bring generous incentive packages with them as well as being able to reside in most other Caribbean countries.
  • Nevis Business Setup is an attractive vehicle for legally minimizing international taxation. The company would be excluded from paying corporate income tax on sales from international sources. It will also benefit from the absence of tax on capital gains and the withholding of tax on income transferred overseas.

Features of Nevis Offshore Company

  • It provides a high standard of anonymity and privacy
  • It is mandatory to prepare accounts, but they are not publicly accessible
  • No overseas income taxes
  • A minimum of one Manager and Shareholder is required
  • Bearer shares are not allowed
  • We need to name an auditor

The Process to Set Up an Offshore Company in Nevis

The procedure to register your business in Nevis involves two different steps -

  1. Approval of business name which can be done by filling with the Company Registry
  2. Send the documentation needed for your business to register. It includes
  • Application form to join
  • Articles of Association
  • Passport photocopier
  • Evidence of residential address Abroad
  • Bank letter of reference for shareholders or managers, not resident
  • Nevis resident shareholders and executives identity card
  • Registration of corporate shareholders records by parent company

More paperwork is part of the processing process. But note that after registering your company, there are a couple of formalities to complete. They are -

  1. Submit documents to the company registry. It includes –
  • Notification of appointments by the directors and the secretary
  • Consent to act as a Manager
  • Notification by registered address
  1. Enable an offshore bank account corporate. Nevis provides many bank options that you can use to open a corporate bank account. Many banks need to be physically present to open the account.
  2. Log in with the Department of Inland Revenue. It needs to be achieved within one month of company development. Registration and issuance of a company registration certificate
  3. Apply for an enterprise license. If your company requires a business license, then you must apply for a business license by submitting the correct documents.

Hiring a consultant is the most common form of incorporating an offshore company in Nevis. We can register for you at Business Setup Worldwide, an Offshore company in Nevis.

Our experts will collect the essential information and documents from you and ensure that your Nevis offshore company gets company name approval. We will then proceed to file the registration documents with the Companies Registry and also file for your Nevis Company to register with the Inland Revenue Department.

Upon valid registration of the Nevis offshore company, you will get a company incorporation kit, which includes a company seal, share certificates, rubber stamp, company profile, certificate of incorporation, etc. We will also help you by opening a bank account, obtaining business licenses, obtaining a relocation visa, and handling the ongoing administration and enforcement of businesses. Contact us today to learn more.

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