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Nevis

Business Company (Company limited by shares)

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 1984, 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.

Unlike other jurisdictions, a Nevis BC does not have to face mandatory audits, and corporate compliance is minimal.

Nevis Business Companies benefit from strong asset protection legislation.

To bring an action against a business incorporated in Nevis, the creditor would need to hire a local lawyer licensed in Nevis and post a cash bond with the court, in addition, attorneys in Nevis are not allowed from working on contingency. The creditor must pay for all legal services up front and in full.

Nevis BCs are commonly used for asset protection and confidentiality, estate, and tax planning and international trade.

Taxes

Corporate income tax - Nevis is updating its legislative and regulatory framework commitments to the EU COCG under its Tax Governance Initiative and at the same time to the OECD BEPS Inclusive Framework.

The parliament recently passed the Nevis Business Corporation (Amendment) Ordinance, 2018, and the Nevis Limited Liability Company (Amendment) Ordinance, 2018.

Under these amendments, LLCs and corporations incorporated on or before December 31, 2018, will still enjoy full tax exemptions until June 30, 2021, provided that they do not carry out business in Saint Kitts & Nevis.

LLCs and companies incorporated after December 31, 2018, will be subject to the local tax regime (currently, 33% tax on worldwide income). The amendments have also abolished the preferential tax regime for companies incorporated by non-residents that obtained a tax resident status.

However, the Nevis Island Administration is expected to shortly introduce additional legislation to implement a local territorial tax system for corporations and LLCs established from 1 January 2019. Therefore, income derived from foreign-sources would not be subject to taxation.

We will inform you as soon as there are further developments on that matter.

Other taxes - Saint Kitts and Nevis does not levy direct personal taxes. Personal income, as well as, capital gains and net wealth are not subject to taxation.

Property tax is assessed on the market value of the real property, ranging from 0.2% to 0.3%, depending on the location and use. There is a stamp duty on transfer of real property from 6% to 10%. Value-added tax is 17% for most goods and services. Reduced rate of 10% applies to the tourism sector. Certain goods are tax-exempt.

  • Offshore Income Tax Exemption
  • Offshore capital gains tax exemption
  • Offshore dividends tax exemption
  • CFC Rules
  • Thin Capitalisation Rules
  • Patent Box
  • Tax Incentives & Credits
  • Property Tax
  • Wealth tax
  • Estate inheritance tax
  • Transfer tax
  • Capital duties
  • 33% Offshore Income Tax Rate
  • 33% Corporate Tax Rate
  • 0% Capital Gains Tax Rate
  • 33% Dividends Received
  • 15% Dividends Withholding Tax Rate
  • 15% Interests Withholding Tax Rate
  • 15% Royalties Withholding Tax Rate
  • 0 Losses carryback (years)
  • 5 Losses carryforward (years)
  • FIFOAverage cost Inventory methods permitted
  • 17% Social Security Employee
  • 0% Social Security Employer
  • 0% Personal Income Tax Rate
  • 17% VAT Rate
  • 36 Tax Treaties

Country details

Saint Kitts and Nevis
XCD
Basseterre
North America
e n - K N
51134

Nevis is a Caribbean island located in the Windward Islands, in the Antilles. Along with the island of Saint Kitts, it constitutes the Federation of Saint Christopher and Nevis. An independent sovereignty country, member of the Commonwealth and the CARICOM.

Saint Kitts & Nevis is the smallest country in the Americas, both in size and population. With an area of 261 sq. km and a population of 54,961 inhabitants. Its capital and the most populated city is Basseterre, in Saint Cristopher. Its official language is English. Its legal tender currency is the East Caribbean Dollar (XCD), which has a fixed exchange rate with the dollar at 2.7: 1.

Being an independent member of the Commonwealth of Nations, Saint Kitts and Nevis has a stable political and financial system.

The head of state of the islands is the British monarch, who elects a resident Governor-General to represent him in local affairs.

The prime minister is the leader of the majority party of the House, and the cabinet carries out state affairs. St. Kitts and Nevis have a single legislative chamber, known as the National Assembly. It is made up of fourteen members: eleven elected representatives (three from the island of Nevis) and three senators who are appointed by the Governor-General. Two of the senators are appointed on the recommendation of the Prime Minister, and another with the advice of the opposition leader.

Unlike other countries, the senators do not constitute a separate chamber of the Senate or upper chamber of the parliament, since they sit in the National Assembly, next to the representatives.

Saint Kitts and Nevis was the last place to practice sugar cane monoculture in the Lesser Antilles. But because the sugar industry was increasingly struggling to make a profit, the government decided to eliminate the large-scale sugar cane production and carry out a diversification program for the farming sector and stimulate the development of other sectors of the economy, particularly tourism, export-oriented manufacturing, and offshore financial services. The issue of postage stamps, mainly for philatelic collecting, is also an important source of income for its economy.

Saint Kitts and Nevis also offers a citizenship by investment program. Through a donation to the Sustainable Growth Fund or an investment in Real Estate, a foreigner would become a St Kitts and Nevis citizen and obtain a passport with visa-free or visa-on-arrival access to 136 countries (including South America and European Union).

Tax treaties

Country Type Date Signed
Canada TIEA 2010-06-14
Guernsey TIEA 2012-02-07
Saint Lucia DTC  1994-07-06
Sint Maarten TIEA 2009-09-11
Portugal TIEA 2010-07-29
India TIEA 2014-11-13
Norway TIEA 2010-03-24
Saint Vincent and the Grenadines DTC  1994-07-06
Guyana DTC  1994-07-06
San Marino DTC  2010-04-20
South Africa TIEA 2015-04-07
Sweden TIEA 2010-03-24
Switzerland DTC  1963-08-26
Denmark TIEA 2009-09-02
Trinidad and Tobago DTC  1994-07-06
Antigua and Barbuda DTC  1994-07-06
Barbados DTC  1994-07-06
Grenada DTC  1994-07-06
Curaçao TIEA 2009-09-11
Jamaica DTC  1994-07-06
Germany TIEA 2010-10-13
Faroe Islands TIEA 2010-03-24
Dominica DTC  1994-07-06
Greenland TIEA 2010-03-24
Finland TIEA 2010-03-24
France TIEA 2010-04-01
Iceland TIEA 2010-03-24
Netherlands TIEA 2009-09-02
New Zealand TIEA 2009-11-24
Belize DTC  1994-07-06
Aruba TIEA 2009-09-11
Australia TIEA 2010-03-05
Belgium TIEA 2009-12-18
United Kingdom TIEA 2010-01-18
Liechtenstein TIEA 2009-12-11
Monaco DTC  2009-09-17

Tax treaties Map

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Services

We can help you incorporate a International Business Company (Company limited by shares) in Saint Kitts and Nevis for $2,150.


Description


Nevis Company Formation – USD 2,150.00 (All Included)


We pride ourselves in providing the best possible professional service, which includes our honest and hassle-free “No Hidden Fee” policy. Your incorporation package includes:


Limited Liability Company (LLC)



  • All Applicable Registration and Government Fees

  • Certificate of Formation

  • Endorsement Certificate

  • Articles of Organization

  • Certificate of Notary Public

  • Assignment of Organization Rights

  • First Resolutions

  • Certificate(s) of Ownership

  • Appointment of Manager(s)

  • Consent(s) to Act as Manager

  • LLC Operating Agreement

  • Register of Members

  • Register of Managers

  • Registered Office & Registered Agent Service including all fees for the calendar year

  • Corporate Documents’ Courier Delivery


Business Corporation (BC)



  • All Applicable Registration and Government Fees

  • Certificate of Incorporation

  • Endorsement Certificate

  • Articles of Incorporation

  • Certificate of Notary Public

  • Designation and Acceptance of Registered Agent

  • Transfer of Subscription Rights

  • Company By-Laws

  • Appointment of First Director(s) & Adoption of By-Laws

  • Organization Meeting by The Incorporator

  • Register of Directors

  • Register of Shareholders

  • Share Certificate(s)

  • Registered Office & Registered Agent Service including all fees for the calendar year

  • Corporate Documents’ Courier Delivery


Time to form: 3 to 5 business days.


All our incorporation services include a yearly consulting session, a dedicated account manager and access to our global network of trusted business services, including introductions to accountants, financial, tax and legal advisors at no cost.


Bank Account Opening Support Services


Bank Account Options*:



  • Nevis Bank Account (Remotely) – USD 300.00

  • Offshore Bank Account** (Remotely) – USD 300.00

  • Mauritius Bank Account (Remotely) – USD 600.00

  • Labuan (Malaysia) Bank Account (Remotely) – USD 500.00

  • Bahamas Bank Account (Remotely) – USD 500.00

  • Curaçao Bank Account (Remotely) – USD 500.00

  • Hong Kong Bank Account (In-person) – USD 1,200.00

  • Singapore Bank Account (In-person) – USD 900.00

  • Cayman Islands Bank Account (Remotely) – USD 900.00

  • Cyprus Bank Account (In-person) – USD 1,200.00

  • Armenia Bank Account (Remotely) – USD 1,200.00

  • Cook Islands Bank Account (Remotely) – USD 600.00


For Private Wealth Structures, we have further options available in large financial centers. Please contact us for more information.


*This accounts’ schedule of fees are for trading, service and holding companies whose activities are not regulated and are considered low-risk by financial industry standards. If you conduct regulated activities such as financial services or gaming, or you operate in a high-risk industry such as cryptocurrencies, precious metals, adult, dating. Please also contact us for more information relating to these industries.


**Offshore Bank Accounts: Belize, Puerto Rico, Nevis, Antigua, Saint Lucia.  Other bank account options may be available depending on business profile and turnover.


Our Bank Account Opening Support Service includes:



  • Introduction to the Bank Manager

  • Bank Account Opening Process Management

  • Assistance and advice in filling out Business Questionnaires, KYC Forms and Bank Account Application Forms.

  • Certified Copies of Constitutional Documents with Apostille

  • Corporate Seal


Our banking service is not just a mere introduction to the bank. We assist you in filling out the business plan forms appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application.


Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process


Annual Fees (2nd year) – USD 1,050.00


Including:



  • Government Annual Fees

  • Maintaining Minute Book, Registers and Statutory Records

  • Registered Agent Service Fees

  • Registered Office Fees


Nominee Services (Optional)



  • Nominee Director* (Natural Person) – USD 800.00 p.a.

  • Nominee Shareholder (Natural Person) – USD 800.00 p.a.

  • Nominee Director* (Corporation) – USD 700.00 p.a.

  • Nominee Shareholder (Corporation) – USD 700.00 p.a.


Accounting Services (Optional)



  • 40 transactions – USD 1,200.00 p.a.

  • 150 transactions – USD 1,900 p.a.

  • Above 150 transactions – Request Quote


*If a Notarized General Power Of Attorney to be designated as attorney-in-fact is required, there is an additional one-time fee of USD 300.00 (Optional)





Click here to incorporate your Saint Kitts and Nevis IBC.

Incorporate now

Disclaimer

Although we use our best efforts to keep the information of this site accurate and up-to-date, we make no representations or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents of this website. We disclaim any warranties expressed or implied, merchantability, or fitness for any particular purpose. We shall in no event be held liable for any loss or other damages, including but not limited to special, incidental, consequential, or other damages. The contents of this website are just for illustrative purposes and are NOT to be considered as a legal opinion or tax advice and should not be relied upon as such. Far Horizon Capital Inc., and any associated company, is not engaged in the practice of law or tax. If you wish to receive a legal opinion or tax advice on the matter(s) in this website please contact our offices and we will refer you to an appropriate legal practitioner. Use of our websites FlagTheory.com, Incorporations.io, Residencies.io, Passports.io, is subject to our terms and conditions.

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