The Nevis Company Formation Services

SCG facilitates access to Nevis, a premier offshore hub in the Caribbean known for its strong privacy laws and robust asset protection. Through a streamlined Nevis IBC formation, entrepreneurs and investors enjoy minimal reporting requirements, no local taxes on foreign income, and high levels of corporate confidentiality. Nevis also offers flexible regulations and straightforward incorporation procedures, making it an ideal jurisdiction for those seeking international structuring.

Foreigners—including U.S. citizens—can legally establish a business in Nevis by meeting a few essential prerequisites:

• Obtain a business license: Required for operating any formal entity in Nevis.
• Local registration: Register the business with relevant authorities to ensure legal compliance.
• Registered office in Nevis: Maintain a local presence for official notifications and corporate documents.
• Industry-specific regulations: Certain business types may need additional licensing or permits.

Because Nevis imposes no corporate taxes on income earned outside its borders, it remains an attractive destination for offshore enterprises. Coupled with robust asset protection and a supportive legal framework, Nevis stands out for international companies and investors looking to establish a global presence.

HOW TO CHOOSE THE RIGHT BUSINESS STRUCTURE IN NEVIS

Understand the Legal Framework

Nevis’ key legislation, the Nevis Business Corporation Ordinance and Nevis Limited Liability Company Ordinance, outline the requirements and procedures for forming and maintaining an International Business Company (IBC) or LLC. Familiarize yourself with these legal guidelines to ensure full compliance.

Key Considerations for IBC Incorporation

1. Unique Business Name: Must differ from any existing Nevis-registered entity.
2. Shareholder Requirements: At least one shareholder of any nationality is permitted, offering maximum flexibility.
3. Directors and Officers: Only one director is needed, who can be an individual or a corporation.
4. No Minimum Capital: Capital requirements are at the owner’s discretion.
5. Flexible Corporate Structure: Allows customization of bylaws and share classes to match business objectives.

By carefully evaluating these factors, you can configure your Nevis IBC to best fit your operational and strategic goals.

FORMATION AND MAINTENANCE FEE FOR THE 1ST CALENDAR YEAR

• Name check & approval
• Filing incorporation documents with the Nevis Registrar
• Government fees and stamp duties
• Registered office and registered agent (first year)
• (Optional) Company secretary (if selected)

Standard set of digital corporate documents:

• Certificate of Incorporation
• Memorandum & Articles of Association
• Appointment of First Directors
• Consent Actions of the Board of Directors
• Share Certificates
• Register of Directors and Members

Nevis business companies are primarily governed by the Nevis Business Corporation Ordinance and related amendments, ensuring a secure legislative foundation.

LEGAL FORM

Nevis law, based on common law principles, allows for the creation of private companies limited by shares, known as Nevis IBCs. These entities serve as the most popular vehicle for offshore operations, affording privacy, tax advantages, and robust asset protection.

MEMORANDUM AND ARTICLES OF ASSOCIATION

To form a Nevis IBC, you must:

1. File the Memorandum of Association with the Registrar.
2. File the Articles of Association, outlining the company’s internal governance.
3. Ensure both documents are properly signed and witnessed.
4. If any subscriber is a non-resident, additional due diligence or approvals may apply.

REGULATORY COMPLIANCE REQUIREMENTS

1. Business License: Mandatory for legal operations.
2. Corporate Taxes: None on foreign income, though local activities may be subject to taxation or registration.
3. Insurance & Protection: Nevis companies are advised to secure relevant coverage.
4. Annual General Meetings (AGMs): Typically not mandatory, but meetings can be held if desired.

SHAREHOLDERS

• Minimum of one shareholder required.
• Shareholder details need not be publicly disclosed, ensuring privacy.
• Corporate shareholders are permitted.

SHARE CAPITAL

• No minimum capital requirement.
• Various share types (registered, preference, voting, non-voting) are allowed.
• Standard authorized share capital often used is around $50,000, though any figure is acceptable.

DIRECTORS

• At least one director is required, of any nationality.
• Directors can be individuals or legal entities.
• Details are not publicly listed, maintaining confidentiality.

REGISTERED OFFICE AND LOCAL AGENT OR SECRETARY

• Must maintain a registered office within Nevis.
• A registered agent is compulsory for receiving official notices.
• A company secretary is optional but recommended for efficient corporate governance.

MEETINGS

• Directors and shareholders can convene outside Nevis.
• No requirement for physical AGMs.
• Meetings can occur via teleconference or other electronic means, with proxy voting allowed.

AUDIT AND FINANCIAL RETURNS

• No audit requirement nor annual returns to file with Nevis authorities.
• Must keep accurate accounting records for at least five years.
• Records suffice to determine financial health if needed.

WHAT ARE THE AML COMPLIANCE REQUIREMENTS FOR BUSINESSES IN NEVIS?

1. KYC Protocols: Verify each client or investor’s identity.
2. Suspicious Activity Reporting: Businesses must report questionable transactions.
3. AML Framework: Develop internal anti-money laundering policies proportionate to your operation size.
4. Ongoing Staff Training: Employees should stay updated on AML best practices.

COMPANY NAME

• Must end with “Limited,” “Corporation,” “Incorporated,” or suitable abbreviations.
• Certain terms (e.g., “Bank,” “Insurance”) require additional licensing or permits.

MEMORANDUM AND ARTICLES OF ASSOCIATION

Follow these steps:

1. Draft Memorandum: States the company’s name, purpose, and share structure.
2. Draft Articles: Detail internal rules and governance.
3. Obtain Signatures: Signed by at least one subscriber.
4. Registrar Submission: Submit both documents together or within the stipulated timeframe.

INCORPORATION TIME

Nevis IBC incorporation typically takes 4–6 business days, with an additional 3–5 days if you require Apostille legalization of documents.

RECURRING AND MAINTENANCE FEE AS FROM 2ND YEAR

• Registered office and agent renewal
• Company secretary (if applicable)
• Government license fees based on authorized capital

TAXATION

• Zero corporate tax on foreign-earned income.
• No capital gains, withholding, or estate taxes for offshore companies.
• Local business activities may be subject to relevant taxes or duties.

AUDIT AND FINANCIAL RETURNS

• No legal mandate to file audited accounts.
• However, internal records must be thorough and updated for at least five years.

ANNUAL OBLIGATIONS

• Maintain accurate registers of shareholders and directors.
• Renew registered agent and office services.

IMPORTANCE OF RECORD KEEPING

While Nevis does not demand annual returns, consistent record-keeping is vital. Having comprehensive documents and financials ensures transparency, facilitating smoother audits or corporate decisions when necessary.

OUR SERVICES FOR COMPANY FORMATION IN NEVIS INCLUDE

• Name check & approval
• Preparation & filing of Memorandum and Articles
• Standard corporate documents (digital)
• Payment of government fees
• Registered office & agent for one year
• Optional company secretary

DOCUMENTS REQUIRED FOR NEVIS COMPANY FORMATION

For Directors, Shareholders, Beneficial Owners, and Authorized Signatories:

1. Notarized Passport Copy
2. Proof of Address: Utility bill or bank statement, dated within three months
3. Professional Reference Letter: From a lawyer, banker, or accountant
4. Corporate Documents (if applicable): Apostilled set for corporate shareholders or directors

INVESTMENT OPPORTUNITIES IN NEVIS

• Real Estate Ventures: Commercial properties and tourism-related developments.
• Offshore Banking & Insurance: Capitalize on Nevis’ pro-financial services stance.
• Technology & Fintech: Growing sector supported by modern infrastructure.

NAVIGATING INTERNATIONAL BUSINESS RELATIONSHIPS IN NEVIS

1. Due Diligence: Validate foreign partners via background checks.
2. Legal & Compliance: Consult local counsel on Nevis regulations.
3. Transparent Communication: Keep documented records to ensure compliance and trust.

KEY CONSIDERATIONS FOR ENGAGING WITH LOCAL ENTITIES

• Network with Chambers: Leverage local industry groups for market insights.
• Access Finance: Use local banks or trusts for domestic transactions.
• Form Strategic Alliances: Partnerships can expedite market penetration and resource sharing.

HOW TO OPEN A CORPORATE BANK ACCOUNT IN NEVIS

1. Choose the Right Bank: Look for robust online banking options.
2. Gather Documents: Company registration, passport, address proof, and business plan.
3. Submit Application: The bank conducts its due diligence.
4. Approval & Activation: Account is ready once verification completes.

Benefits: Nevis bank accounts often offer multi-currency support, confidentiality, and advanced eBanking.