St. Kitts Trust & Corporate Services |
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Nevis is an excellent jurisdiction in which to open a Limited Liability Company (LLC). The Nevis Limited Liability Company Ordinance was passed in 1995 and has become very popular.
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It offers a full range of financial services and products including asset management and protection, company formation and administration, insurance, foundations, mutual funds administration, offshore banking, investment management, and trust services.
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Nevis offshore companies are free from taxation and are protected in privacy by the 1985 Confidential Relationship Act.
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International Business Company (Nevis)
This type of company is formed under the Nevis Business Corporation Ordinance, 1984 as amended, particularly in 2000, and is suitable for use as a holding company or an investment company. The legislation closely follows Delaware law and is useful to those familiar with this legislation. Characteristics of the IBC are as follows:
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Nothing required to be maintained in the place of incorporation except the Registered Agent’s details.
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Total tax exemption is automatically provided by law for IBC companies.
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No minimum capital required.
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Prior approval required of company name. Some words are sensitive eg Assurance, Bank, Trust etc. Must end 'Limited', 'Corporation', 'Incorporated', 'Societe Anonymne' , Gesellschaft mit beschraenkter Haftung or their abbreviations.
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Incorporation takes one or two days.
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Shelf companies are available.
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Capital duty is US$ 200 based on an authorised share capital of 1,000 shares at no par value or on $100,000 of par value shares.
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The minimum number of shareholders is one.
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Bearer shares and shares of no par value must be held by a custodian.
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The minimum number of directors is three, however, if there are fewer than three shareholders then there may also be fewer than three directors.
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A secretary is required who may be a company.
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There is no requirement for a registered office, but there must be a registered agent.
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Information available publicly consists of the articles of incorporation and the name of the registered agent.
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There is no requirement for the production or filing of accounts, and no annual return is required.
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Annual fees amount to US$200.
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IBCs do not have access to St Kitts and Nevis double tax treaties.
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