Saint Kitts and Nevis, officially Federation of Saint Kitts and Nevis, also called Saint Christopher and Nevis, is a state composed of two islands of the Lesser Antilles in the eastern Caribbean Sea. Their combined area is 104 square miles (269 square km). The capital is Basseterre on the island of Saint Kitts.
Nevis, surrounded by coral reefs, lies 2 miles (3 km) southeast of Saint Kitts across a channel known as The Narrows. The island is circular, and it consists almost entirely of a mountain, Nevis Peak (3,232 feet [985 metres]), which is flanked by the lower Round Hill (1,014 feet [309 metres]) on the north and by Saddle Hill (1,850 feet [564 metres]) on the south. Its area is 36 square miles (93 square km). The soil of Nevis is clay studded with volcanic boulders. The climate is similar to that of Saint Kitts. Both Nevis and Saint Kitts lie in a tropical hurricane (tropical cyclone) belt; hurricane season is between August and October.
The Nevis jurisdiction is an offshore domicile operated by the small Caribbean island of Nevis within the country of St Kitts and Nevis.
Business Companies incorporated under the Nevis Business Corporation Ordinance Act, are one of the most popular offshore company vehicles.
Nevis BCs benefit from a simple and fast registration procedure and a flexible structure.
They can be incorporated with a single shareholder and director, who may be from any nationality, may be the same person and a corporation or a natural person.
Business Company (BC) (Company limited by shares).
|Governing corporate legislation|
Nevis Business Corporation Ordinance Act 1984
BCs may be formed by one or more shareholders, who can be natural or legal persons and non-residents. There is no limitation on the use of nominees.
A minimum of three directors is required, who may be individuals or corporations, resident or non-residents. However, if the company is incorporated by less than 3 shareholders, it is allowed to appoint less than three directors. Therefore, a company may be incorporated by a sole shareholder and a sole director. Nominee directors are allowed.
|Information published relating to company officers|
Details of shareholders are not publicly available.
Details of directors are not publicly disclosed.
The liability of the shareholders for the company is limited to the amount of their respective shareholdings.
|Accounting requirement/ compliance|
Nevis BCs are required to prepare and maintain accounting records, to reflect the financial position of the company. Account records should be kept for 5 years from the date of its preparation and may be kept anywhere.
Companies are not required to file accounts, annual returns or to divulge information relating to ownership. However, Registered Agents acting on behalf of companies are required to obtain and maintain such information pursuant to AML/CFT Regulations. Nevis BCs are subject to an annual government license fee.
Shareholders Not Disclosed
|Corporate income tax|
Nevis companies that are not controlled and managed in or from within Nevis are considered nonresident for tax purposes in Nevis, and therefore, not subject to corporate income tax in Nevis, unless they constitute a permanent establishment in Nevis. A permanent establishment can be constituted when a company carries on certain business activities via a place of business in Nevis.
|Shared capital/paid up|
A minimum share capital is not required, but usually, the standard authorized share capital is USD 50,000 divided into 50,000 ordinary shares of USD 1.00 each. The minimum paid out capital is USD 1.00.
|Basis of the Legal System||Common law|
A secretary is required, who can be a corporation or an individual, resident or non-resident.
Shares can be denominated in USD or any other currency, and they may be issued as registered shares, preference shares, redeemable shares and shares with or without voting rights.
Cs must have a registered agent authorized by the Government and registered office address in Nevis.
Annual meetings are not required by law and can be conducted in or outside Nevis.
|Time to form||3-5 days|
every year on the anniversary of the incorporation.
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