Nevis Company Formation – LLC
The Caribbean Island of Nevis has become one of the most attractive and convenient offshore company domiciles in the world by the enactment of the Nevis Business Corporation Ordinance 1984. The support of The Nevis Government in the development and administration of the corporate registry provides the international practitioner and investor with total cooperation and commitment unparalleled in the offshore companies industry.
Acumen is able to offer expert services to help your business with Belize company registry.
Belize Company Requirements
- Company name must be unique.
- Company name must not include certain restricted words.
- LLC company name must include either the words “Limited Liability Company” or an abbreviation like “L.L.C.” or “LLC”.
- Company name can be in English.
Nevis does not require any minimum authorized capital for its LLC’s.
- Minimum one Member.
- A company is allowed to act as Member or Manager.
- Member or Manager. can be the same person or same company.
- Member or Manager. can be individuals of any nationality, domicile and residence.
- Original or a copy of the Register of Managers and Members must be kept at the office of the Registered Agent.
- Members and Managers details do not appear on any public record.
- A Company must appoint a Registered Agent (to ensure compliance with ongoing legal returns, accounts, audit and other requirements).
- The Registered Agent must be ordinarily resident in Nevis, provided by a licensed service provider.
- A Company must have a Registered Office address in the Nevis.
- The Registered Office address serves as the company’s legal address for notices and proceedings and can be different from the business address.
No requirements to file any mandatory audits or company records but keep in mind that a Nevis LLC should maintain a register of charge at its registered office.
As of August 26th 2020 all Nevis entities must file a CIT 101 or Simplified tax return is the lightened version of corporate income tax return, in which a corporation has to declare where his company resides for tax purpose. All IBCs and LLCs irrespective of their tax residency status must complete and file the STR form to the IRD.
As of now, a tax-resident company in SKN will be taxed on worldwide income. In contrast, non-tax resident will only be subject to SKN taxation on the portion of income arising in the Islands.
How tax residency of an IBC or LLC is decided will be based on its central place of control and management. The main criterion in determining the place of central management is where the company held its Board of Directors (BOD) meeting.
The only document which LLC’s must file with the Nevis Registry is the Articles of Organization which only contains the LLC’s name, its registered agent, and office address. It does not contain the names of members, managers, or beneficial owners.
BVI Facts
General Information
Nevis is a Caribbean island located in the Windward Islands, in the Antilles. Along with the island of Saint Kitts, it constitutes the Federation of Saint Christopher and Nevis. An independent sovereignty country, member of the Commonwealth and the CARICOM.
Population
Saint Kitts & Nevis is the smallest country in the Americas, both in size and population. With an area of 261 sq. km and a population of 54,961 inhabitants.
Political Structure
The Federation of St Kitts and Nevis is a constitutional monarchy, recognizing Queen Elizabeth II as head of state. She is represented by a governor-general who takes advice from the prime minister and cabinet. The country is a sovereign democratic federal state, with a unicameral National Assembly. The uniqueness of its 1983 Constitution derives from the provisions for the autonomy of the island of Nevis with regard to certain “specified matters” and the establishment of the separate Nevis Island Assembly (legislature) to address these local concerns.
Infrastructure and Economy
Saint Kitts and Nevis was the last place to practice sugar cane monoculture in the Lesser Antilles. But because the sugar industry was increasingly struggling to make a profit, the government decided to eliminate the large-scale sugar cane production and carry out a diversification program for the farming sector and stimulate the development of other sectors of the economy, particularly tourism, export-oriented manufacturing, and offshore financial services. The issue of postage stamps, mainly for philatelic collecting, is also an important source of income for its economy.
Language
The official and spoken language is English.
Currency
East Caribbean Dollar (XCD).
Exchange Control
There are no exchange controls in Nevis.