Limited Liability Company
The Nevis jurisdiction is an offshore domicile operated by the small Caribbean island of Nevis within the country of St Kitts and Nevis.
A member of a Nevis Limited Liability Company (LLC) is limited to the amount of contributed capital they make to capitalize the company and ‘buy’ a membership interest. LLCs' ownership is divided into membership interests instead of shares.
LLCs are for the most part very flexible. You have the choice of a manager-managed LLC with multiple members or a member-managed LLC with multiple members.
A distinct advantage of a Nevis LLC is the ability to incorporate with a single member. Although Nevis isn’t the only place this is possible, the strong asset protection laws of Nevis are favorable compared to other jurisdictions.
Unlike other jurisdictions, a Nevis LLC does not have to face mandatory audits, and corporate compliance is minimal. There are very few company records to be maintained, such as corporate minutes. Your company meeting can be held anywhere, and an operating agreement can be tailored to your exact specifications.
Nevis LLCs benefit from a strong asset protection legislation.
Nevis offshore statutes for Nevis LLCs are actually derived from jurisdictional law of the state of Wyoming. A single-member LLC in Nevis has charging order protection, and other benefits of a Wyoming LLC, located in a jurisdiction offshore, with Nevis courts, governing. All the benefits of the strongest LLC in the United States located offshore in Nevis.
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 has no public registry. Nevis does not have a database of corporate records accessible to the public. Only the government of St Kitts and Nevis, as well as lawyers practicing in Nevis, can access this database.
A Nevis LLC is perfect for someone who:
- Is the sole owner of their business and doesn’t want to have another director.
- Wants the benefit of strong asset protection.
- Want a private and secure registration.
- Doesn’t want to pay for nominee directors.
- Doesn’t want to face yearly audits.
- Desires relatively simple and easy offshore incorporation.
Nevis is one strongest structure from an asset protection standpoint to hold personal assets or run a business that is fraught with liability – it makes sense to go to a place where the claimant has to get a charging order and post a bond in order to bring suit against you.
A Nevis LLC is also an excellent vehicle for joint venture investments.
Furthermore, Nevis has one of the fastest company registration procedures and one of the lowest initial and maintenance costs worldwide.
Country code - KN
Legal basis – Common law
Legal framework - Nevis Limited Liability Company Ordinance
Company form – Limited Liability Company (LLC).
Liability - The liability of the members of the company is limited to the amount of their capital contributions.
Capital – Standard authorized capital of a Nevis LLC is US$10,000, in a non-paid up basis. However, there are no minimum capital requirements as well as no maximum limit.
Members – At least one member, who may be an individual or a legal entity of any nationality. There are no limitations on the number of members and tiers and levels of members may be dictated by the LLC’s operating agreement. Details of members, managers or beneficial owners are not accessible to the public.
Manager – At least one manager, who may be a natural or legal person of any nationality. An LLC may be managed either by its owners or by third parties.
Registered Address – A Nevis LLC must have a Registered Agent and Registered Office in Nevis, provided by a licensed service provider authorized by the Financial Services Regulatory Commission.
Electronic Signature – Permitted.
Re-domiciliation – Entities may be re-domiciled in or out of Nevis.
Compliance – Nevis LLCs 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 LLC’s are subject to an annual government license fee.
- Members not disclosed
- Managers not disclosed
- Corporate members permitted
- Corporate manager permitted
- Local manager required
- Registered office or agent required
- Annual meeting required
- Redomiciliation permitted
- Electronic signature
- Annual return
- Audited accounts
- Audited accounts exemption
- Exchange controls
- Common law Legal basis
- 1 Minimum members
- USD 1 Minimum registered capital
- - Minimum paid up capital
- USDAny Capital currency
- 100% Foreign-ownership allowed
- 2018 AEOI
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.
- Tax transparent entity
- 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
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 Map
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