Longitude and is located in the Leeward Islands approximately 2,000 km southeast of Miami. Mount Nevis lies in the centre of the 92 sq km Island and towers 985 metres. Columbus sighted and named the Island on his second voyage in 1493. The climate is nearly perfect and the variation in altitude and soil conditions creates a natural garden of tropical vegetation ranging from rain to near desert.
Corporate features
| GENERAL | |
| Type of Company | NBCO |
| Political Stability | Good |
| Common or Civil Law | Common |
| Disclosure of Beneficial Owner | No |
| Migration of Domicile Permitted | Yes |
| Tax on Offshore Profits | Nil |
| Language of Name | Latin Alphabet |
| CORPORATE REQUIREMENTS | |
| Minimum Number of Shareholders | One |
| Minimum Number of Directors | One |
| Bearer Shares Allowed | Yes |
| Corporate Directors Permitted | Yes |
| Company Secretary Required | Yes |
| Standard Authorised Share Capital | No |
| LOCAL REQUIREMENTS | |
| Registered Office/Agent | Agent only |
| Company Secretary | No |
| Local Directors | No |
| Local Meetings | No |
| Government Register of Directors | No |
| Government Register of Shareholders | No |
| ANNUAL REQUIREMENTS | |
| Annual Return | No |
| Submit Accounts | No |
Advantages
Total tax exemption provided by law for NBCO companies. Legislation based on US Delaware Law with English conventions permitted.
Disadvantages
Proof of beneficial ownership or management is difficult for lack of
public disclosure requirement however law does provide for the voluntary
disclosure of information.
Company law
Common law based on English Common Law. Nevis Business Corporation Ordinance in 1984.
COMPANY FORMATION
Type of company for international trade and investment
Offshore Exempt Company (NBCO).
Procedure to incorporate
By submission of the Articles of Incorporation to the Registrar of Companies, together with the appropriate fee.
Restrictions on trading
A Nevis Company incorporated under the Business Corporation Ordinance
1984 may not trade within Nevis, or own real estate there. A company
incorporated under the said Act may not engage in the business of
banking, insurance, assurance, reinsurance, fund management, collective
investment schemes or any other activity that would suggest an
association with the banking or Insurance industries.
Powers of company
A company incorporated in Nevis has the same powers as a natural person.
Language of legislation and corporate documents: English
Name approval required: Yes
Shelf companies available: Yes
Time to incorporate
One day
Name restrictions
Any name that is identical to or similar to an existing company. Any
name that in the opinion of the Registrar is undesirable or suggests an
illegal activity or any name that may imply government patronage.
Language of name
May be in any language that uses the Latin alphabet. The Registrar may
request an English translation if a foreign language name is used.
Classes of shares permitted
Registered shares, bearer shares, preference shares, redeemable shares and shares with or without par value.
Bearer shares permitted: Yes
Taxation
A Nevis offshore exempt company is exempt from local taxation.
Double taxation agreements
Although Nevis does have double tax agreements, a company incorporated
under the Nevis Business Corporation Ordinance 1984 cannot obtain any
treaty relief through them.
Financial statement requirements
Whilst there is no requirement to submit or file audited financial
statements, a Nevis company is required to maintain financial records to
reflect the financial position of the company.
