Nevis adopted a modern offshore corporate law in 1984 which has made it a popular domicile for offshore corporations. The law is based on the corporate laws of Delaware and is simple and flexible. The primary benefits found in Nevis for international businesses are the strict government guarantees of privacy, the all-inclusive off shore corporate tax exemption and very reasonable requirements and fees for incorporation. Among the reasons many businesses and individuals choose Nevis as a home for their offshore corporations are: � The government of Nevis is stable. � The currency of Nevis is the East Caribbean dollar which is pegged to the US dollar by the Eastern Caribbean Currency Union. The Eastern Caribbean Central Bank (ECCB) issues the East Caribbean dollar (EC) for all members as well as manages monetary policy, and regulates and supervises commercial banking activities in member countries. � The East Caribbean Dollar is pegged at EC$2.7169 to US$1. � The laws are written in English and based British and US business law principles. � The law permits offshore corporations to be incorporated for any lawful business purpose. � The corporation may be called by any name written in English characters so long as the name clearly identifies the entity as a corporation and not a natural person, partnership or other entity and so long as the name is not the same as an existing corporation or a reserved corporate name or so similar as to be confusing. � To establish and maintain a Nevis corporation an office an office in Nevis is not required only a registered Nevis agent for the corporation. � It only takes a few days to establish a Nevis corporation. � Annual corporate fees are only a few hundred dollars. � The law provides strict confidentiality of beneficial ownership - the only information available publicly is the articles of incorporation and the name of the registered agent. � Only a shareholder can request the register of shareholders not third parties. � The law provides a tax exemption for offshore corporations and no exchange controls. � The law requires no financial or annual reports be filed with the government. � There is no residency requirement for Directors, Officers or Shareholders. � The law does not require corporate records be maintained or corporate meetings held in Nevis. � The law permits offshore corporations to issue bearer shares and shares of more than one class may be issued. � The minimum number of shareholders is 1 and the minimum number of directors is 3 unless there are fewer than 3 shareholders than the minimum number of directors is the number of shareholders. � The law allows for the easy transfer to Nevis of any foreign company and transfer from Nevis to any other jurisdiction of a Nevis corporation. � Nevis has an excellent communication infrastructure and is easily accessible for most Americans and Europeans. If you are considering creating an offshore corporation the Nevis laws and business climate are worth your time to investigate. Seth Embry is an Australian born international investing specialist and globe trotter who shares his expertise on Nevis corporations and PT style living with members of the Q Wealth Report. Visit the Q website for more information on Asset Protection and sign up to their free Q Bytes newsletter.
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