Nevis

General Information

Area – 93 sq. km

Population – 12,106 people

Capital – Basseterre

Official language – English

Official currency – Caribbean dollar (XCD)

Key Aspects

No treaties for the avoidance of double taxation were signed.

It is a classical offshore jurisdiction.

A special license is required to provide banking and insurance services.

Company Type

The most popular company type in Nevis is an International Business Company (IBC)

Corporate Legislation

Business Corporation Ordinance 1984

Main Requirements for Company Directors and Shareholders

There should be at least one director.

The director may be a resident of any country. Directors may be both natural persons and legal entities.

There should be at least one shareholder in a company.

Shareholders may be residents of any country.

Shareholders may be both natural persons and legal entities.

Nominee shareholders and directors are allowed to be used.

Authorised Capital

There are no requirements as to the mandatory payment of the company capital. The authorised capital of a company is specified according to a resolution.

Accounting

There is no need for maintaining accounting records if a company carries out its economic activity outside Nevis. There is no need for the preparation and filing of annual accounts if a company carries out its economic activity outside Nevis.

Taxation

A company is exempted from the payment of all taxes if a company carries out its economic activity outside Nevis.

Questions that need to be answered to prepare incorporation documents

∙ Passport details of the founders and directors (of the beneficiary if a nominee service is used)

∙ Photocopy of the ID pages of the founders’ and the director’s (beneficiary and agent, if a nominee service is used) passports

∙ Utility Bill of the directors and founders, current email addresses and phone numbers

∙ Several proposed firm names