Nevis

Main » Jurisdictions » Nevis

Nevis

General information about the jurisdiction

Federation of Saint Kitts and Nevis – is a state in the Caribbean, which includes two islands: Saint Kitts and Nevis and Nevis has a right to secede from the Federation. The state is a part of the United Kingdom and has no land borders.

The main items of income are agriculture and tourism (there are beaches with black sand and a lot of cozy coves). Since independence in 1983, the financial sector began to develop.  

1. Legislation

The Nevis Business Corporation Ordinance 1984 regulates companies’ activities in Nevis.

Pay attention that this Ordinance acts only in Nevis not in Saint Kitts. 

2. Company formation

2.1 Types of companies

International Business Company (its name must include Limited, Ltd, Corporation, Corp., Inc., S.A. etc.). The companies can not do business, receive income from the sources located in Nevis or to own property there. 

2.2 International Business Company:           

  • The minimum authorized capital – not established. Payment by the moment of incorporation in not required.
  • Shares –registered, preference, per value or not. Bearer shares are allowed but their certificates must be kept by the resident agent.
  • Director – the Board of Directors that includes at least 3 directors, 2 of them must be individuals, 1 may be legal person. No residency required. If the number of members is less than 3, there may be 1 director (but the number of directors may not be less than umber of members).
  • Members – at least 1, individual or legal person, no residency required. 
  • Secretary – not required.
  • Publicly available information: company name, address, quantity of shares. Information about directors and shareholders is not reflected in state register.   Nominee service may be used. 
  • Company is not obliged to keep and submit an annual financial report, to be audited.
  • Registered office in Nevis is required (it may be agent's address). 
  • Annual meetings of shareholders may be hold in any place or by telephone communications. 

3. Taxes

An offshore company is exempt from taxation.

The state fee is $200 per year.

4. Currency control

None

5. Agreements on avoidance of double taxation

Saint Kitts and Nevis concluded some agreements on avoidance of double taxation (the UK, Denmark, the USA, Switzerland etc.), but they do not apply to International Business Companies.

6. Features

Saint Kitts and Nevis is in the tax havens list of Ukraine.