Company registration in Nevis

The attractive offshore zone of St. Kitts & Nevis is rapidly increasing in popularity. Information about the owners of companies is not included in the registry – this provides entire confidentiality. According to the legislation, only a certain part of the information – the legal address of the local office and contacts of the registered agent – is subject to disclosure. If you are interested in starting a business in this jurisdiction, these endeavors may be realized through a local company incorporated in one of these forms.

Major Forms of Legal and Business Presence

Starting a business and operating worldwide from Nevis is possible by using one of these registration options:

• Limited Liability Company – a local corporate entity whose members bear limited liability for the results of the entity’s operation within contributed amounts only. Such an enterprise may be formed for an unlimited period of time and shall always have its registered agents in Nevis. This entity may be formed by one person and management is vested after such members. The amount of capital contributions to chartered capital is not legally determined but practically it should be sufficient for arranging business activities of an enterprise.
• International Business Company – a corporation designated for doing business worldwide with certain restrictions applied concerning forbidden types of activities (banking, financial, etc.). This entity can be formed by one person at least whose liability doesn’t exceed the amount of funds contributed to such an entity. The enterprise shall be governed by a board of directors. The number of directors shall be indicated in the company’s bylaws provided that there should be at least one director who is a resident or registered in Nevis. The international business company shall always have its registered agent in Nevis.

Registration Requirements and Steps

Company formation in Nevis covers passing these approximate registration stages:

1. Clarifying business goals you intend to realize through a future enterprise.
2. Selecting and checking a business name for the future entity.
3. Assigning a registered agent and management of the future enterprise.
4. Collecting details about future founders and beneficiaries.
5. Arranging a business address for an enterprise.
6. Composing statutory and registration documents.
7. Submitting the prepared package of required documents to the registrar.
8. Registering for tax and social security purposes.
9. Opening a corporate bank account.

The exact procedure of company incorporation in Nevis may vary depending on concrete business cases and priorities. For instance, registering an IBC in Nevis is associated with prohibitions on proposing goods/services to residents and conducting specific types of regulated activities (like banking and insurance). Contact Prifinance specialists for more details and suggestions on your prospective registration case.

Legal and Regulatory Framework

The zone is optimal for the development of shipping companies. Legislation is particularly loyal to the construction of international relations and close cooperation between the representatives of various jurisdictions.

The Registrar of Corporations and the Financial Services Regulatory Commission are major state authorities in Nevis. The Nevis Business Corporation Ordinance and the Nevis Limited Liability Company Ordinance are principal legal documents for doing business in this state.

Tax System of Nevis

Registration of a company in Nevis may be beneficial in view of the next tax highlights attributed to this jurisdiction:

• Corporate income tax rate – 33% (non-resident enterprises taxed on the gains derived from this jurisdiction only)
• Payroll tax – not applicable
• Value-added tax rates – (i) standard – 17%, (ii) reduced – 0% or 10% may be applied in certain cases
• Withholding tax rates (for non-residents) – (i) dividends – 15% (ii) interests – 15% (iii) royalties – 15%
• Capital gains tax – is not applicable in general.

Advantages of the Jurisdiction

Incorporation of a company in Nevis is associated with the following advantages the jurisdiction offers:

• Data protection. There is no requirement to disclose the personal data of the founders. They are not entered into the register and are not subject to disclosure.
• Limited liability. LLC does not provide commitments beyond the limits of company assets in the event of debt. Business owners in this situation will not be responsible for their own property and other liquid assets.
• Simplicity. Company registration in Nevis does not require personal presence. We will do all the work and send documents by DHL mail service.
• Loyal legislation. A flexible management system significantly extends the competence of the management bodies. The company is free to develop itself without strict bounding rules.
• A zero rate of income tax. Activities of companies registered by non-residents are not subject to income tax.
• In Nevis, there is no foreign exchange control and requirements on mandatory auditing.

How Prifinance Specialists May Help You

While applying for getting legal assistance from Prifinance you may choose one of the ready companies or order the registration of a new company. The whole process will take no more than two weeks.

We offer prompt company registration and bank account opening services in St. Kitts & Nevis and worldwide. New registration and ready-made options. Provide extensive details for more precise consultations and suggestions that can be effective for your future project.