{"id":164,"date":"2019-11-21T16:51:46","date_gmt":"2019-11-21T16:51:46","guid":{"rendered":"https:\/\/miserve.com.cy\/?page_id=164"},"modified":"2019-11-21T16:51:48","modified_gmt":"2019-11-21T16:51:48","slug":"nevis-corporations","status":"publish","type":"page","link":"https:\/\/miserve.com.cy\/?page_id=164","title":{"rendered":"NEVIS CORPORATIONS"},"content":{"rendered":"\n

Longitude and is located in the Leeward \nIslands approximately 2,000 km southeast of Miami. Mount Nevis lies in \nthe centre of the 92 sq km Island and towers 985 metres. Columbus \nsighted and named the Island on his second voyage in 1493. The climate \nis nearly perfect and the variation in altitude and soil conditions \ncreates a natural garden of tropical vegetation ranging from rain to \nnear desert.<\/p>\n\n\n\n

Corporate features<\/strong><\/p>\n\n\n\n
GENERAL<\/strong><\/td><\/tr>
Type of Company<\/td>NBCO<\/td><\/tr>
Political Stability<\/td>Good<\/td><\/tr>
Common or Civil Law<\/td>Common<\/td><\/tr>
Disclosure of Beneficial Owner<\/td>No<\/td><\/tr>
Migration of Domicile Permitted<\/td>Yes<\/td><\/tr>
Tax on Offshore Profits<\/td>Nil<\/td><\/tr>
Language of Name<\/td>Latin Alphabet<\/td><\/tr>
CORPORATE REQUIREMENTS<\/strong><\/td><\/tr>
Minimum Number of Shareholders<\/td>One<\/td><\/tr>
Minimum Number of Directors<\/td>One<\/td><\/tr>
Bearer Shares Allowed<\/td>Yes<\/td><\/tr>
Corporate Directors Permitted<\/td>Yes<\/td><\/tr>
Company Secretary Required<\/td>Yes<\/td><\/tr>
Standard Authorised Share Capital<\/td>No<\/td><\/tr>
LOCAL REQUIREMENTS<\/strong><\/td><\/tr>
Registered Office\/Agent<\/td>Agent only<\/td><\/tr>
Company Secretary<\/td>No<\/td><\/tr>
Local Directors<\/td>No<\/td><\/tr>
Local Meetings<\/td>No<\/td><\/tr>
Government Register of Directors<\/td>No<\/td><\/tr>
Government Register of Shareholders<\/td>No<\/td><\/tr>
ANNUAL REQUIREMENTS<\/strong><\/td><\/tr>
Annual Return<\/td>No<\/td><\/tr>
Submit Accounts<\/td>No<\/td><\/tr><\/tbody><\/table>\n\n\n\n

Advantages<\/strong>
\nTotal tax exemption provided by law for NBCO companies. Legislation based on US Delaware Law with English conventions permitted.<\/p>\n\n\n\n

Disadvantages<\/strong>
\nProof of beneficial ownership or management is difficult for lack of \npublic disclosure requirement however law does provide for the voluntary\n disclosure of information.<\/p>\n\n\n\n

Company law<\/strong>
\nCommon law based on English Common Law. Nevis Business Corporation Ordinance in 1984.<\/p>\n\n\n\n

COMPANY FORMATION<\/strong><\/p>\n\n\n\n

Type of company for international trade and investment<\/strong>
\nOffshore Exempt Company (NBCO).<\/p>\n\n\n\n

Procedure to incorporate<\/strong>
\nBy submission of the Articles of Incorporation to the Registrar of Companies, together with the appropriate fee.<\/p>\n\n\n\n

Restrictions on trading<\/strong>
\nA Nevis Company incorporated under the Business Corporation Ordinance \n1984 may not trade within Nevis, or own real estate there. A company \nincorporated under the said Act may not engage in the business of \nbanking, insurance, assurance, reinsurance, fund management, collective \ninvestment schemes or any other activity that would suggest an \nassociation with the banking or Insurance industries.<\/p>\n\n\n\n

Powers of company<\/strong>
\nA company incorporated in Nevis has the same powers as a natural person.<\/p>\n\n\n\n

Language of legislation and corporate documents:<\/strong> English<\/p>\n\n\n\n

Name approval required:<\/strong> Yes<\/p>\n\n\n\n

Shelf companies available:<\/strong> Yes<\/p>\n\n\n\n

Time to incorporate<\/strong>
\nOne day<\/p>\n\n\n\n

Name restrictions<\/strong>
\nAny name that is identical to or similar to an existing company. Any \nname that in the opinion of the Registrar is undesirable or suggests an \nillegal activity or any name that may imply government patronage.<\/p>\n\n\n\n

Language of name<\/strong>
\nMay be in any language that uses the Latin alphabet. The Registrar may \nrequest an English translation if a foreign language name is used.<\/p>\n\n\n\n

Classes of shares permitted<\/strong>
\nRegistered shares, bearer shares, preference shares, redeemable shares and shares with or without par value.<\/p>\n\n\n\n

Bearer shares permitted:<\/strong> Yes<\/p>\n\n\n\n

Taxation<\/strong>
\nA Nevis offshore exempt company is exempt from local taxation.<\/p>\n\n\n\n

Double taxation agreements<\/strong>
\nAlthough Nevis does have double tax agreements, a company incorporated \nunder the Nevis Business Corporation Ordinance 1984 cannot obtain any \ntreaty relief through them.<\/p>\n\n\n\n

Financial statement requirements<\/strong>
\nWhilst there is no requirement to submit or file audited financial \nstatements, a Nevis company is required to maintain financial records to\n reflect the financial position of the company.<\/p>\n","protected":false},"excerpt":{"rendered":"

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