After enacting Corporation Ordinance 1984, the Caribbean Island of Nevis has gained the status of being one of the most sought-after locations for incorporating an offshore company. The support provided by the government is extremely business-friendly in Nevis.
The offshore jurisdiction offers the world-class infrastructure to the business investors to come forward and invest in the region. In Nevis, an offshore corporation is known as an International Business Corporation (IBC).
Through an IBC, an offshore business owner in Nevis can have tax exemptions on income earned worldwide, except Nevis Island.
Like the other popular growing offshore destinations, the Nevis has also uplifted its position in the offshoring industry, making itself a perfect long-term investment destination. Nevis offshore company formation is majorly sought after because of the different taxation benefits along with an excellent asset protection system.
Nevis Island Offshore Company
A Nevis offshore corporation is called an IBC. Nevis offshore corporations are formed and also regulated by the Nevis Business Corporation ordinance under 1984 law.
The Nevis offshore corporations enjoy zero tax policies if the income is coming from anywhere except Nevis Island. There is also no necessity to file annual reports or financial returns. A corporation may also act as a Director or Secretary if needed.
With a stabilized government, the location doesn't have any disputes with its neighbouring countries.
Business investors who prefer to incorporate in Nevis hold the flexibility to proceed with an LLC or International Business Company (IBC).
What are the Benefits of Company Incorporation in Nevis?
Any business investor who wants to set up an offshore company in Nevis can avail of the following benefits at ease.
1.Complete Tax Exemption
Any company that gets incorporated in Nevis can enjoy high-end tax benefits post-incorporation. Corporate taxes and capital gains tax is not levied on the business entities that get incorporated by foreign business owners.
It is one of the tax-havens that provides complete flexibility to incorporate a business entity at ease. The taxation benefits can directly be attributed to the fact that Nevis offshore is a tax haven.
A Nevis Offshore Corporation is very confidential and private. The names of corporate managers, directors, and shareholders are not required to be filed with the Nevis Registrar of Companies. Hence, these names stay private and are never made known to the general public.
3.Less Company Formation Requirements
A Nevis offshore company can be incorporated with one director and one shareholder, provided the essentials are submitted to the registrar for verification.
An offshore business unit in Nevis can be incorporated faster as compared to the other popular offshore jurisdictions.
In general, it takes around 2-3 days to complete the entire offshore incorporation proceedings, and the government proceedings can be done within 4-5 days.
5.The Flexibility of Office Meetings
Meetings related to the offshore business unit incorporated in Nevis can be conducted anywhere in the world.
A Nevis Corporation must appoint a local registered agent who the Nevis government earlier approves to serve as a registered agent. Every Nevis Corporation has a regional office address to accept the service of process and official notes.
6.No Authorized Capital Required
It is not required for a Nevis Corporation to declare a minimum authorized capital. This is a massive benefit for all those investors who plan to form an offshore company in Nevis.
7.Non-Disclosure of Public Records
As per the rules, the company records of an offshore unit incorporated in Nevis are not disclosed to the public.
Any shareholders, managers, or beneficial owner's names are not included in the articles.
Only the registered agent's name and the corporation's local address are included in the articles, which provide complete privacy and confidentiality.
Additional privacy for shareholders can be achieved by appointing nominee shareholders and directors.
8.Availability of Shelf Company
A business investor can opt for a shelf company if he is looking forward to commencing the business activities immediately.
9.Flexibility to Deal with Offshore Banking
The business owners have the flexibility to open an offshore bank account to carry out the business transactions at ease.
It is always recommended that you open your offshore bank account together with the company. It has several benefits, and an offshore bank account is essential for an offshore company to carry on its business operations properly.
How can we help?
You have seen the lucrative benefits available to an investor if they choose to incorporate an offshore company in Nevis. If you decide to do the same, make sure that you first get professional help from business incorporation experts.
Our experts here at Business Setup Worldwide can assist you in dealing with the legal compliances and other offshore services in a very smooth manner. We provide customized business solutions by keeping your specific requirements in mind.
Our business advisors are well-versed with the company setup process and can get your company created in no time. To proceed ahead, you can contact us! We'd be happy to assist you.