Nevis is renowned for its offshore limited liability companies and remains a world leader in that field. Asset protection trusts are also attractive as the trust legislation is closely modelled on the Cook Islands, with creditor bonds deterring frivolous litigation. Nevis offers a suite of corporate products which are an essential part of any offshore asset protection structure.
• Nevis is an island of around 11,000 people located in the Caribbean, adjacent to Saint Kitts.
• Discovered by Christopher Columbus in 1493 and originally claimed by Spain but not settled by Europeans until 1628 with the arrival of the English and remained a British Colony until 1983 when it joined the Federation of St Kitts and Nevis, one independent Federation.
• Democratic political system based upon the English Westminster model.
• Politically stable with centrist political parties with very little ideological differences.
Advantages of Nevis
• Nevis international exempt trusts offer the same levels of asset protection as their Cook Islands counterparts and is in a different time zone.
• Creditors seeking to bring proceedings against an international trust or company in Nevis must pay a substantial bond.
• Charging orders against limited liability companies have a maximum duration of 3 years and are non-renewable.
• Foreign judgments are not recognised.
• Applications for Mareva Injunctions are not permitted.
• Identities of trust and company officers are not provided to the government and are not available to the public.
• No financial statements need to be filed for offshore entities.
• Proximity and similar time zone to east coast of USA makes maintaining contact with trustee or registered agent easier.
The legal climate in Nevis is extremely protective of international trusts. In addition, Nevis offers competitive LLC and corporation legislation, permitting Southpac clients to establish business entities with relative speed and ease.
There following Ordinances govern trusts, companies and foundations in Nevis:
• Nevis International Exempt Trust
• Nevis Limited Liability Company (LLC)
• Nevis Business Corporation (IBC)
• Nevis Multiform Foundation