Nevis Company Formation


Nevis Company Formation

There is a 93 square kilometre spanned island located in the Eastern Caribbean, known as Island of Nevis. Once Nevis was called the Queen of Caribbean because it was the most developed and richest island of that time. Nevis emerged on the global map in 1983 and from that time, it has maintained the political stability in the country and governance system based on the Westminster model. Nevis economy is majorly based on the tourism and offshore corporations. With the progressive, modern and mature International Financial Centre, Nevis is regarded as being dominant trust and company jurisdiction in the world. All these things lead to the global identity of financial integrity, stability and modern legislative framework, of the Nevis.

The one main attraction of Nevis is that; Limited Liability Company incorporated in Nevis, can be used for any professional or commercial purpose, even outside of Nevis Island. Such companies would be the ones which have business model of real estate holdings, manufacturing concerns and vehicles investment for the offshore trust. Basically, limited liability companies are distinct from other companies on the basis of their dual advantage and purpose of being alternative to the partnerships and corporations. Corporate advantage in the sense that they give corporate advantages of being as companies of limited liability and through the partnership perspective of them, incorporator may avail tax immunity. Not only this, but the officers of limited company shall neither be called the director nor the shareholder of the company, instead they shall be called as members of the company.

Incorporation Requirements

Following are the requirements for company incorporation in Nevis:

Directors

  • There is a requirement of minimum one director and it’s not necessary for the directors to be resident or nationals of Nevis.
  • It is allowed to appoint corporate directors.
  • No need for director’s meeting.
  • No need for maintaining public director’s register.
  • If number of shareholders are less than the number of directors then they both must equalise each other.
  • Meetings can take place anywhere.

Secretaries

  • There is a requirement of minimum one secretary and it’s not necessary for the secretaries to be resident or nationals of Nevis.
  • It is not allowed to appoint corporate secretaries.
  • No professional qualification requirement for the secretary.

Shareholders

  • There is a requirement of minimum one shareholder.
  • It is allowed to appoint corporate shareholders.
  • No need for maintaining public shares register.
  • Par values of shares are not permitted.
  • Share capital is authorised to be of 100,000 shares with the value of each share of USD 1.
  • Shareholders are allowed to retain or possess bearer shares.

Incorporation Fee

Kindly have a look at the section of fee schedule for description of incorporation fee. However here is the summary of the fees structure:

  • Fees of government.
  • Fees of local secretary.
  • Fees of local agency.
  • Fees of registered office.
  • Fees of our service.

Once your company incorporates, you will get; certificate of incorporation along with M & A five copies, and original formation documents and minutes.

Incorporation Time

It takes 1 to 2 weeks for company incorporation in Nevis.

Offshore Bank Account

For the updated details on the facility of offshore bank account, please refer to the section of fee schedule.

Miscellaneous

  • Company should have registered agent.
  • If all shareholders or some are nominee, then there is no need to declare shares ultimate beneficial ownership to authorities.
  • Annual returns of the company must be demonstrated.