The information about Nevis
Nevis is the island of the community of St. Kitts and Nevis in the Caribbean. A capital of the island is Charlestown. English is recognized as an official language. The official currency is the East Caribbean Dollar (XCD). In the territory of this jurisdiction, the Anglo-Saxon system of law operates.
Establishing a Nevis trust may be a promising solution for your business.
A political environment of the islandA head of a state is the British monarch. On the island, an executive power is in the hands of the Parliament, its own party system, budgeting system and taxation system operate.
Registering international trusts on Nevis: characteristicThe main functions of trusts on the island of Nevis are: a protection of the assets of companies, including holding companies, as well as a protection of investment activity of Nevis. Also, a trust activity involves the transfer of assets by inheritance. Nevis trusts are a politically stable property with a high level of confidentiality. There is no taxation and no currency control. To register a company on Nevis or to obtain a business license on Nevis, non-residents are subject to a preferential tax treatment. A registration of international trusts on Nevis is required, as well as an annual state fee of $250. In this jurisdiction, the assets of a trust are protected from seizure of the creditors of a trust. Nevis also has a legislation, that protects against creditors.
Establishing international trusts on Nevis, as previously agreed, takes place in accordance with the Anglo-Saxon legal system for 30, maximum 40, days. A period of existence of the trust is not less, than one hundred years. It is impossible to establish a trust on Nevis without a state registration. All information about a trust and its members is not publicly available. Profits from international trusts are not taxed. A founder can be both an individual and a legal entity. A Founder has the right to draw up and terminate trust agreements, appoint Trustees (a representative of a licensed trust and a local company), Trustee (an individual or a legal entity, including the Founder), investment advisers, and also determine Beneficiaries (the Founder himself may act as a beneficiary). A trust activity on Nevis involves maintaining financial statements (its audit is not required). To establish a trust on Nevis, you must pay a fee of $2950 (a registration of the Nevis trust and a first year of its operation). A subsequent annual fee is from $1950.