NEVIS International Business Company IBC
If you are seeking to incorporate a business in an offshore jurisdiction with independent legislation, you should consider opening a corporation or an international company in St. Kitts and Nevis (hereinafter referred to as Nevis). We also offer the option of setting up a private foundation.
Main advantages of International Business Companies in Nevis
– local tax exemption;
– low-cost annual support;
– no minimum share capital requirement;
– the personal details of officers, corporate directors, beneficiaries and shareholders are not entered in the local Company Registrar and are not publicly disclosed;
– any natural or legal person can be a director, officer and shareholder;
– no Forex control
International Business Corporations (IBC) are set up in accordance with the Nevis Ordinance on Business Corporations of 1984, amend. 2000. Its provisions draw on the legislation of Delaware, USA.
The name of the newly opened IBC has to end in ”incorporated”, “corporation”, “limited”, “company” or another similar word / an abbreviation of such a word to indicate that the entity is indeed a corporation as opposed to partnership or a natural person. The name has to be unique with respect to the existing / reserved names of Nevisian corporations.
The registered office of the corporation has to be in Nevis. Furthermore, every company is obliged to have a local agent representing the company in front of the government. The business address (principal address) can be located elsewhere. Our fee for incorporation includes a registered address in Nevis and an agent for one year.
The shares of IBC’s in Nevis can be issued to natural or legal persons regardless of their residence. There must be at least one shareholder. At least one share of value 1.00 USD has to be issued to the shareholder. Our company can provide you with a nominee shareholder, in case you need one.
Officers and directors
The director’s position at IBC’s in Nevis can be taken by a natural or legal person (LLC, corporation, trust, etc.) regardless of their residence. There must be at least three directors. If, however, the shareholders in the company are less than three, then it is permitted to have fewer than three directors. This means that a single person can open a company as a single director and shareholder. The administrators of the IBC, e.g. the Treasurer and the President, must be natural persons. The Secretary can be either a natural person or a corporation. There are no restrictions with respect to the residence of the officers. One individual can simultaneously be a President, Director, Treasurer and Secretary. If you need a director or secretary, our company can assist you by providing suitable nominees. Nevertheless, it is usually preferable that you take the director’s position of your IBC for the purpose of simpler dealing with suppliers, customers and banks. Also, in this case, the yearly renewal fee is lower.
The standard authorised capital amounts to 50 000 USD split into 50 000 registered shares of 1 USD each. This arrangement keeps the costs for incorporation and annual maintenance of the Nevisian company at the possible minimum and answers the business needs of almost all our clients. Authorised capital means the cash that the company can receive from shareholders against issued shares, e.g. if the said capital is 50 000 USD, the company is permitted to issue 50 000 registered shares and obtain from the shareholders at least 1 USD per share. There are no mandatory terms for issuing shares to cover the whole amount of the capital. The company may issue one share for a shareholder, then after an arbitrary time period issue other shares (for the remaining amount or part thereof) or decide to not issue shares at all. However, any issued shares have to be covered by shareholders. Therefore if one 1 USD share is issued, the shareholder has to pay this amount to his company.
Nevisian IBC’s do not pay any local taxes, such as income, capital gain, dividend tax or corporate shares and property transfer stamp duty. Total anonymity and confidentiality are guaranteed. There are no requirements in place to disclose information about the shareholders, beneficiaries and directors. The only official paper included in the local Company Registrar is the Articles of Association. It does not state any information with respect to the officers, directors, beneficiaries and shareholders. The document includes only the name of the registered agent and the address of the registered office in Nevis. We provide representative agents and offices to our clients at no additional cost. Our company also offers nominee services to ensure the protection of the clients’ privacy.
Audit and accounting requirements
No legal requirements exist regarding the audits and accounting mechanisms of Nevisian offshore companies. The directors of the corporations decide what accounting records to keep. Yearly meetings are not mandatory. The Directors’ Board can make decisions to organise annual meetings for shareholders that can take place in Nevis or elsewhere.
Time required for incorporation of Nevis IBC
We can establish business corporations in Nevis in 1 – 2 working days. We can email you the scanned Incorporation Certificate within two working days. Two to four more days are needed for the preparation of share certificates, resolutions, registers and corporate documents legalisation with apostil.
Nevisian Shelf companies
We usually keep incorporated shelf companies in the office readily available for our clients. The companies are free of business transactions. Regardless of the age of the company you buy, you can be fully confident that you are its first owner. Such companies are immediately available. If necessary, legalisation of the documents with apostil usually takes two to three working days.