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Key Features Table
| General |
|
| Political Stability |
Good |
| British Based Legal System: |
Yes |
| Type of Company: |
Ltd |
| Disclosure of Beneficial Owner: |
No |
| Migration of Domicile Permitted: |
Yes |
| Tax on Offshore Profits: |
Nil |
| Chinese Names Allowed: |
Yes |
| Corporate Requirements |
|
| Minimum number of shareholders: |
1 |
| Minimum number of Directors: |
1 |
| Bearer shares common: |
Yes |
| Corporate Directors permitted: |
Yes |
| Secretary required: |
Yes |
| Standard authorised capital: |
US$100,000 |
| Local Requirements |
|
| Regd Office/Agent: |
Yes |
| Company Secretary: |
No |
| Local Directors: |
No |
| Local Meetings: |
No |
| Gov't Register of Directors: |
No |
| Gov't Register of Shareholders |
No |
| Annual Requirements |
|
| Annual Return: |
No |
| Audited Accounts: |
No |
| Recurring Costs |
|
| Annual tax/licence fees: |
US$200 |
| Normal local annual fees: |
US$275 |
| Normal annual cost from second year: |
US$475 |
Type of Company Available
The Nevis Business Corporation Ordinance 1984 governs the establishment of non-resident domestic companies. The
Ordinance is based upon American, Delaware and New York laws, however, the Ordinance also contains may features
of British company law which provides for its utilization by practitioners familiar with either or both types of
company statutes.
A Nevis corporation can be incorporated using any name excepting words such as Bank and Insurance. The name
of the corporation must be suffixed with either Corporation, Incorporation, Company or Limited or their abbreviations
to indicate that it is a corporation with limited liability.
The Articles of Incorporation must be subscribed to by one or more natural or legal persons and they must
include:-
- The corporation's name
- The duration of the corporation if not perpetual
- The object of the corporation, although it is sufficient to state that the corporation may engage in any
lawful act not prohibited under the Nevis Business Corporation ordinance 1984
- Its address in Nevis and the name and address of the registered agent
- The share capital
- The class or classes of shares
- The number of shares to be issued as registered shares and as bearer shares and whether registered shares
may be exchanged for bearer shares and vice versa
- The names and addresses of the initial directors
- The names and addresses of each incorporator
The Bye-Laws govern the internal affairs of the corporation and are adopted by the Board of Directors and, subject
to the Articles of Incorporation, subsequent alterations to them must be by a vote of the shareholders.
A Nevis corporation must have a registered agent in Nevis.
The minimum number of directors is three except where the number of shareholders is fewer than three in which
case the number of directors must be equal to but not less than the number of shareholders. The directors may be
individuals or corporations of any nationality.
Substitute or alternative directors and officers may be appointed.
The share capital of a Nevis corporation may have a par value stated in any currency or be without par value.
Shares may be registered, bearer or both.
There are no limitations on the number of shareholders and they may be individuals or corporations of any nationality.
The minimum number of shareholders, however, is one.
The meetings of directors and officers may be held anywhere in the world. The meetings of shareholders may be
held in Nevis or outside Nevis and there must be an annual general meeting in order to elect/re-appoint the directors.
All documents filed with the Registrar of Companies are available to public inspection. However, it is not necessary
to file names of the directors, officers and shareholders.
Company Availability
Subject to name approval a Nevis corporation can be incorporated within 48 hours. Ready made corporations are also
available for immediate use.
Special Features
The unique and key feature of the Nevis Ordinance is that it was one of the first corporate statutes to include
a comprehensive and modern provision for the redomicilation or transfer of a foreign company to Nevis as well as
providing for transfer under certain emergency conditions. Under the May 1989 Amendment to the Nevis Business Corporation
Ordinance, redomiciliation requirements have been made simpler and certain fees have been eliminated. Once transferred
to Nevis, a company retains its original name as well as its date of existence. However, the company must adapt
its records to Nevis Law at a later date. Transfer of a Nevis company to a foreign jurisdiction is also available.
Summary
The attractions of Nevis as a financial centre can be summarised as:-
 No taxes
are levied in Nevis upon income, dividends or distribution of a Nevis company which are not earned in the Island
Corporate
financial returns need not be filed
Shareholders,
directors and officers may be of any nationality and reside anywhere
No
annual reports are required to be filed nor changes of shareholder, directors of officers
Shares
may be registered or bearer form
The
secretary may be a corporate or an individual
Companies
may serve as directors
The
company records and its principal office may be located anywhere
Nevis
companies may amend their Articles of Incorporation, merge or consolidate with foreign or other Nevis companies
or file Articles of Dissolution
A
foreign company may transfer domicile to Nevis and a Nevis company may transfer to a foreign jurisdiction
Immediate
incorporation available
Ready
made companies available
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