The area is optimal for the development of shipping companies. The legislation is particularly loyal to the building of international relations and close cooperation between representatives of different jurisdictions.
choosing a country
choosing a bank
payment (by any method)
bank account opening
In order for a foreign company in Nevis to become active internationally in just a few days, you should follow the established algorithm of actions:
Note: For offshore companies planning to do business outside Nevis, points 3, 4 and 6 are excluded.
The list of documents for forming an international company on the island of Nevis may be edited by the country's regulatory authorities, which is better to clarify in advance. The standard set of documents includes:
In March 2020, the island nation's Ministry of Finance announced that the federal government of St Kitts and Nevis was committed to amending the Income Tax Act by the end of the year. This should provide a clear definition of tax residency based on centralised management and control.
In simple terms, according to the recommendations of the OECD and the FATF, the government decided to supplement the internal regulations with a number of points:
If an offshore company is recognised as a tax resident of Nevis, the company will have to file a declaration by 15April of each year.
Important! At the time of writing, Nevis has not yet passed an amendment to the tax legislation, which preserves the previously established rules on the taxable income of all incorporated foreign companies.
International companies in Nevis do not pay tax on profits earned in another state and are exempt from declaring income and financial reporting.
Royalties, dividends and interest are tax-free.
Also in 2020, foreign founders have a unique opportunity to open a tax-exempt trust on the island of Nevis.
An LLC is a limited liability company that can be easily set up as a trust company in Nevis and used extensively for business purposes. Corporate requirements for the formation of an LLC in the Caribbean island state (Nevis) in 2020:
One of the most common forms of business on the island of Nevis in the Caribbean is an IBC, which has its advantages:
Background: To protect a company's corporate name, an IBC can apply for a trademark (TM), thereby obtaining the intellectual rights to a unique name.
In 2020, you can register a Multiform Foundation in Nevis, and then transform it into a trust, partnership, international company, or charitable foundation.
Nevis's Multiform Foundations have their own characteristics: