Nevis

INTRODUCTION

Nevis is located in the Leeward Islands approximately 1,100 miles southeast of Miami. It was a British Colony from 1628 until 1983 when it became independent and joined the Federation of St Kitts & Nevis. It is a member of the British Commonwealth with the Queen as the Head of State. Nevis has a democratic system of government based on the Westminster model with an elected local assembly.

There is an established legal system with appeals to the Eastern Caribbean Supreme Court. The final court of appeal is the to British Privy Council in London. Although the legal and judicial system is based on British common law the Nevis Business Corporation Ordinance (NBCO), which was introduced in 1984, incorporates both British and US law with the Ordinance drawing heavily on the statute applicable in the US state of Delaware.

OFFSHORE EXEMPT COMPANIES

The NBCO allows the incorporation of Offshore Exempt Companies (OECs), which, so long as they do not carry on business in Nevis, are exempt from all taxation there.

There is a requirement to maintain a registered office and an authorised and licensed registered agent in Nevis. We provide this service as standard and we also provide a mailing address service, again as standard. There is no requirement to file financial statements, but a company must keep records to accurately reflect its financial affairs.

OECs pay a flat annual filing fee of US$200 upon incorporation and thereafter on the anniversary of incorporation. There are fines for late payment.

INCORPORATION TIMESCALE/NAMES

Suffixes such as Limited, Ltd, Incorporated, Inc, SA or most others are permitted. Allowing for time differences, names can be checked and reserved instantly and incorporation takes place on the same day. Certain words are prohibited or subject to licensing requirements such as “Royal”, “Trust”, “Bank” and “Insurance”. Even using courier services it can take up to 2 weeks to receive documentation from Nevis. Because of this it is our practice to try and keep a number of “Stock” or “Shelf” companies available for instant transfer once we have received completed application forms and payment.

FEES FOR NEVIS COMPANIES

We charge £650 to incorporate a Nevis company. This includes the first year’s registered office and registered agent fees and all government fees. Thereafter there is an annual fee (due on the anniversary of formation) of US$540 again including registered office, registered agent and government fees.

We can help and advise you in respect of the opening and management of bank accounts and the provision, if required, of company officers or managers.

HOW TO ORDER

Simply call us on 01952 270270 or send an email to:

ymf@arcorporatesecretaries.co.uk

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, this information does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error or omission. Prices are subject to change.

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