Top Benefits of Offshore Company Formation in Nevis

Top Benefits of Offshore Company Formation in Nevis

Are you planning to form an Offshore Company in Nevis? If yes, in this blog, we will inform you about all the benefits of forming an offshore company in Nevis.

Nevis is a very small and beautiful island in the Caribbean Sea. It forms a part of the inner archipelago of the West Indies Leeward islands chain. Nevis and its neighbor island St. Kitts is one country known as Saint Kitts and Nevis. It is located about 80 kilometers west of Antigua and 350 kilometers from Puerto Rico. Its capital is Charlestown. It has a land area of about 93 square kilometers.

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 are tax-free on all income earned from anywhere in the world except Nevis island. 

Nevis has a stable government. Its history shows that it has no such disputes with its neighboring nations. Nevis LLC is the most popular entity because of its exceptional asset protection and tax-flow through benefits. It is much more beneficial from a tax and asset protection perspective than the Nevis Corporation.

Benefits of Offshore Company Formation in Nevis

Territorial Tax Country

Nevis is a territorial tax country. Nevis taxes income only earned in the country itself and not the worldwide income outside its borders. There are no taxes for capital gains in Nevis. This is a huge benefit for the investors to start an offshore company in Nevis.

No Minimum Authorised Capital

Nevis does not require any minimum authorized capital for its corporations to be formed. Hence, it is easier for investors to form an offshore company here.

Strict Privacy

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.

One Director and One Shareholder

In a Nevis Corporation, only one director needs to be appointed to manage the corporation, and only one shareholder is required for forming the Nevis Corporation.

Fast Incorporation

A Nevis corporation can be registered between 2 to 3 days. It provides an additional of only 4 to 5 days for the government to complete the registration process.

Corporate Name

When registering for a new Corporation in Nevis, the law requires selecting a unique corporate name that should not be similar to any existing Nevis Corporate names found in the registrar of the companies.

Office Address and Local Agent

A Nevis Corporation can have its office anywhere in the world. A Nevis Corporation must appoint a local registered agent who is earlier approved by the Nevis government to serve as a registered agent. Every Nevis Corporation has a local office address to accept the service of process and official notes.

Shareholders

A Nevis Corporation provides a minimum of only one shareholder. These shareholders can live anywhere in the world. They also can be either private persons or corporations. For additional privacy, nominee shareholders are allowed in Nevis.

Directors and Officers

A Nevis Corporation provides two options when it comes to managing the company. The company can either be governed by its shareholders or its managers. The number of managers depends on how the company’s Articles of Organization are composed. It's not necessary that the Nevis Corporation managers have to be shareholders. Managers can live anywhere in the world. The managers can be either private persons or corporations. For increased privacy, nominee managers can be appointed.

Authorized Capital

It is not required for a Nevis Corporation to declare a minimum authorized capital. This is a huge benefit for all those investors who are planning to form an offshore company in Nevis.

Taxes

The Nevis Corporations are free from both income taxes and capital gains taxes.

Annual Fees

The annual renewal fees for the Nevis Corporations are only US $800 to $1,600 USD.

Public Records

The corporation’s Articles of Organization are filed with the Nevis Registrar of Companies. No other documents are needed to be filed. Any shareholders, managers, or beneficial owner’s names are not included in the articles. Only the name of the registered agent and the corporation's local address is included in the articles which provide complete privacy and confidentiality. Additional privacy for shareholders can be achieved by appointing nominee shareholders and directors.

Accounting and Audit Requirements

Another huge benefit of forming an offshore company in Nevis is that the Nevis corporations are not required to keep accounting and auditing records. The corporation is free to decide how to maintain its own records.

Annual General Meeting

The Nevis Corporations are not required to hold any annual general meetings.

Time Required for Incorporation

Most Nevis corporations can be formed in as less as only 1 to 2 days. The time required for incorporation depends on the company’s unique submission of its name, as well as the company’s accuracy with filling out the required corporate documentation that’s necessary for corporate registration. Additional time of only two to four days may be needed to prepare resolutions, registers, and make sure the corporate documents are appropriately legalized with stamps.

Shelf Corporation

Shelf Corporations are available in Nevis for faster incorporation.

In this blog, we have informed you on almost all the benefits of forming an offshore in Nevis. To sum up, a Nevis Corporation offers key benefits such as- privacy and confidentiality for shareholders, managers, and directors; no worldwide taxation, no minimum authorized capital, only one shareholder and one director required, and fast incorporation.

Are you ready to form an offshore company in Nevis? If you need any assistance regarding the business setup, then you can contact us! We’d be happy to assist you.

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