BY CONNOR STEENS
Nevis is a small Caribbean island with a population of approximately 11,000 people. It is part of a Federation with the larger sister island of St Kitts. Despite sharing many laws with St Kitts, Nevis has its own parliamentary Assembly and can make laws for itself in certain areas. The local currency in Nevis is the Eastern Caribbean dollar, which is pegged to the US dollar. As a former British colony, Nevis gained independence in 1983 and currently operates a democratic political system based on the English Westminster model. Nevis has a thriving financial services sector and combined with these factors Nevis is an attractive location for your LLC.
Nevis is particularly renowned for its company products and remains a world leader in that field. Trusts are also highly attractive with Nevis trust legislation being closely modelled on that of the Cook Islands. Nevis offers a suite of protective products which are an essential part of any offshore asset protection structure.
Establishing a company in Nevis can offer many advantages for entrepreneurs and business owners. Here are three reasons why you might want to consider establishing a Nevis company.
Robust Asset Protection
One of the main benefits of establishing a Nevis company is the asset protection it provides. Nevis has some of the strongest asset protection laws in the world, which can help protect your personal assets from lawsuits and creditors. Nevis companies can be used to hold assets such as real estate, investments, and intellectual property, which can be shielded from legal action taken against the company. An example of this is the bond required by the Nevis High Court that a creditor must pay prior to commencing proceedings, with the Court determining the amount of the bond.
Ease of Administration
Located in the Caribbean Sea, Nevis is strategically positioned only a three-hour flight from Miami. Additionally, Southpac Trust Nevis operates on Atlantic Standard time, which is just one hour ahead of Eastern Standard Time, making the administration of your trust or company simple and uncomplicated. By establishing a Nevis company, businesses can gain access to international markets, leveraging the jurisdiction’s strong reputation for business and financial services. Southpac Trust Nevis Limited can also administer a range of services, including supplementary bank accounts in multiple jurisdictions, trust protector services, corporate managers for LLCs, corporate directors for BCs, and corporate management/supervisory board members and secretaries for foundations. Nevis companies also benefit from lower levels of formality, filing and regulation compared to many other international company jurisdictions.
Privacy and Confidentiality
Nevis is known for its strict confidentiality laws, which ensure that personal and business information is kept private. This can be especially important for businesses that value their privacy, as Nevis companies are not required to disclose the names of shareholders or directors on a public register, rather, the registered agent, this being Southpac Trust Nevis, retains such information with privacy and confidentiality in mind. This can provide an added layer of protection from the numerous concerns attributed to such registers – such as the increased risk of extortion, identity theft, burglary or kidnapping.
In conclusion, establishing a Nevis company can offer many benefits for entrepreneurs and business owners. If you’re considering establishing a new business or expanding your existing operations, Nevis could be an attractive jurisdiction to consider. In addition to this, a Nevis company can be established in conjunction with a Nevis trust or Cook Islands trust to offer even more jurisdictional diversity.
If you are considering establishing your company offshore, Nevis is undoubtedly among the most favourable jurisdictions. Working with a reputable and professional registered agent such as Southpac can ensure a seamless and well executed process. We encourage you to get in touch with us today for further information and assistance.