Nevis is one of the two islands which, together with St Christopher (commonly known as St Kitts), form the Federation of St Kitts and Nevis. The two islands are located in the Caribbean. They cover a total area of 260 sq km and have a population of 60,000. The capital is Basseterre, located in St Kitts. The main town in Nevis is Charlestown. St Kitts and Nevis is in the Atlantic Standard Time zone. English is the official language and the local currency is the East Caribbean dollar. St Kitts and Nevis is a member of the Caribbean Community (CARICOM), the Association of Caribbean States (ACS) and the Organisation of Eastern Caribbean States (OECS) . The official body responsible for Nevis offshore company registration and supervision is the Registrar of Corporations.
Nevis offshore company registration
Nevis IBC (International Business Company)
Legal system
The Nevis legal system is based on English Common Law.
Governing legislation
Offshore company registration in Nevis is governed by the Nevis Business Corporation Ordinance of 1984, as amended.
Company activities
A Nevis IBC is not permitted to carry on banking, insurance or foreign exchange trading operations. Restrictions apply to certain other fields of activity. Please enquire should you have any doubts at the time of your offshore company registration.
Nevis offshore company registration timeframe
The registration of a Nevis IBC is normally completed within one day. Alternatively, shelf companies (whose names may be changed if required) are available if an immediate incorporation is needed.
Redomiciliation
In accordance with local law, a Nevis IBC is permitted to continue as a company registered in another jurisdiction. Likewise, a foreign company may become registered and continue as a Nevis IBC if allowed to do so under its own legislation.
Information held on public record
The Registrar of Corporations maintains a copy of the company’s memorandum and articles of association and a record of the company’s registered agent and registered office address. This is the only information submitted at the time of the offshore company registration and is available for public inspection. Any other information may be voluntarily submitted to the Registrar of Corporations, in which case it will become publicly available.
Company name
The name of a Nevis IBC can be in any language but it must be expressed in Roman characters. Any internationally accepted designation of limited liability or its abbreviation may be used, eg “Limited”, “Ltd”, “Corporation”, “Corp”, “Co”, “Incorporated”, “Inc”, Société Anonyme”, “Sociedad Anonima”, “SA”, “GmbH”, etc.
Share capital
The share capital may be denominated in any currency. At least one share must be issued at the time of the offshore company registration. Bearer shares are possible but if issued, the share certificates must be kept by the company’s registered agent in Nevis.
Shareholders
A Nevis IBC must have at least one shareholder, who can either be a natural person or a company. Nominee shareholders may be used if confidentiality is required.
Directors
At least one director must be appointed at the time of the Nevis offshore company registration. This can be a natural person or a company, resident anywhere in the world. Professional directors may be appointed if confidentiality is a concern. It is possible for the same person to act as sole director and shareholder.
Shareholder and director meetings
Meetings of the shareholders and the directors may be held anywhere in the world. The legislation allows for meetings of the directors to be held by telephone conference but not the shareholders. An annual general meeting (AGM) of the shareholders is required. Typically the first AGM should be held by the end of the calendar year following the year in which the Nevis offshore company registration takes place, with subsequent AGMs held in each calendar year after that.
Registered office
The Nevis offshore company must maintain a registered office in Nevis, where any official notices may be served.
Company secretary
The appointment of a company secretary is not mandatory but one may be appointed if so desired. The secretary can be a natural person or another company and may reside in any country. It is possible for the same person to act as the company’s sole shareholder, director and secretary.
Financial statements
Nevis IBCs are not obliged to prepare financial statements. Nevertheless, adequate accounting records must be kept which would allow the company to prepare financial statements if required.
Annual filing requirements
No annual filing obligations apply to Nevis IBCs.
Taxation
Nevis does not impose any form of tax on Nevis IBCs.
Double tax treaties
The government of Nevis has signed double tax treaties with Denmark, Norway, Sweden, Switzerland and the UK, however these do not apply to Nevis IBCs. Only Nevis tax resident companies have access to double tax treaty benefits.
Other considerations
Offshore company registration in Nevis is a practical and convenient solution for such activities as holding investments, providing consulting services and conducting an e-commerce business.
