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Benefits of
Nevis
Nevis is situated at seventeen north
latitude and fifty two west longitude and is located in the
Leeward Islands approximately two thousand kilometers south-east
of Miami. The climate is nearly perfect and the variation in
altitude and soil conditions creates a natural garden of
tropical vegetation from rain forest to near desert.
The population of Nevis is 8,500 with
35,000 residents in the neighbouring island of St. Kitts.
Excellent communications facilities offer direct dialling with
the US, Canada and Europe. World-wide telex, facsimile and
telegraph services are operated by Cable & Wireless. English is
the official and commercial language of the Island.
The currency is the Eastern Caribbean
Dollar. There is no Exchange control. It is governed by Common
Law based on English Common Law. The Principal Corporate
Legislation is under Nevis Business Corporation Ordinance 1984.
The type of company for International Trade and Investment is
the Offshore Exempt Company (“NBCO”).
Questions
&
Answers
regarding
Companies in
Nevis
A. The Structure
of a Company.
1.What Documents are required to
Incorporate a Company?
Submission of the Articles of Incorporation to the
Registrar of Companies, together with the appropriate fee.
A Nevis company incorporated under the
Business Corporation Ordinance 1984 may not trade within Nevis,
nor own real estate there. A company incorporated under the said
Act may not engage in the business of Banking, Insurance,
Assurance, Re-Insurance, Fund Management, Collective Investment
Schemes or any other activity that would suggest an association
with the Banking or Insurance industries.
A company incorporated in Nevis has the
same powers as a natural person.
2. Disclosure of Beneficial Ownership to Authorities.
Disclosure of the true beneficial owner is
not required.
3. Classes of Shares Permitted.
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Registered
Shares. |
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Bearer Shares. |
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Redeemable
Shares. |
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Preference
Shares. |
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Shares with or
without par value. |
4. Authorised and Issued Share Capital.
Normally the authorised share capital is
either 1,000 no par value shares or US $100,000 par value
shares. The minimum issued capital is one share of no par value
or one share of par value.
B.
Provisions in the Act relating to the Management and
Administration of the Company.
1. Directors.
The minimum number of directors is three
if the number of shareholders is three or more. If fewer than
three, the number of directors may be equal to the number of
shareholders. The directors may be natural persons or bodies
corporate and may be of any nationality and need not be
residents of Nevis.
2. Shareholders.
The minimum number of shareholders is one.
3. Company Secretary.
A Nevis exempt company must appoint a
company secretary, who may be a natural person or a body
corporate who may be of any nationality and need not be resident
in Nevis.
4. Financial Statements Requirements.
Whilst there is no requirement to submit
or file audited financial statements, a Nevis company is
required to maintain financial records to reflect the financial
position of the company.
Notes
(1) For a copy of a full set of documents
to be made apostille in the jurisdiction will cost a minimum US
$
We are not responsible for any forthcoming
changes concerning the rules and regulations of the
jurisdiction.
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