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The tiny two-island nation of
Nevis is located 225 miles east of Puerto Rico and 1,200
miles south of Miami, Florida. Nevis is a former British
Colony (1628-1983) which became independent on September
19, 1983. The population of Nevis is approximately
9,000 and the Capital is Charlestown. Several major air
carriers provide service to Nevis with either direct flights
with intermediate stops or with plane changes.
Nevis is a member of the United
Nations, The Organization of American States (OAS) and is
an associated Commonwealth participating state of the European
Union (EU). It is also a member of the Caribbean Community
(CARICOM) economic and trading group, along with fourteen
other nations including the Bahamas, Bermuda, and Belize.
The legal system is based on British common law
but the Nevis Business Corporation Ordinance, which was
introduced in 1984, incorporates both
British and US commercial law, statutes similar to that
of New York and Delaware.
A company formed under this Ordinance is the equivalent
of what is commonly termed as an International Business
Company (IBC). A Nevis IBC has the following characteristics:
Taxation
A Nevis IBC is exempt from taxes provided the business is
conducted outside of Nevis.
Shareholders
A minimum of one shareholder is required and either registered
or bearer shares may be issued.
Bearer shares must be deposited with a regulated company
in St. Kitts. Nominee shareholder
service is available for registered shares.
Directors
The Nevis IBC requires on director. The director does not
need to be a shareholder. In addition,
corporate and non-resident directors are permitted. Details
of directors are not required to
appear in public files.
Reporting
Requirements
An IBC is not required to file any financial reports or
tax returns in Nevis.
Restrictions On Name And Activity
Companies cannot undertake banking or insurance activities.
However reinsurance activities are
permitted and trust companies can be formed for private
use.
Local
Requirements
The local company law requires that an IBC maintain a registered
office address within Nevis and
must also appoint a Nevis resident as a registered agent.
Secrecy
The Confidential Relationship Act, 1985 operates to prevent
the disclosure of confidential information
and records. The law imposes a maximum penalty of a fine,
and/or a term of imprisonment of up
to twelve months.
Professional
Services
Nevis has several international financial service companies
available. Barristers and Solicitors of
the High Court, who are allowed to practice before courts
in Nevis and St. Kitts, represent the legal profession. One
of the five major international auditing firms along with
several competent and
professional accountants are represented in Nevis as well.
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GUARDIAN
FINANCIAL SERVICES, INC.
6621 E. Pacific Coast Highway Suite 260
Long Beach, Ca 90803
(562) 431.1140- Fax: (562)684.4634
info@guardianfinance.com
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