Nevis Foundation

Nevis is the sister island of St Kitts and together they form the Federation of St Kitts. The two islands share the same government and constitution. Nevis is an island located in the northern Caribbean and is near Puerto Rico. Nevis like St Kitts is an offshore jurisdiction and tax haven and has legislation in place which makes it possible to register Nevis offshore companies, Nevis Multiform foundations, Nevis Limited Liability Companies and Nevis Trusts. The Nevis foundation also known as the Nevis Multiform Foundation came into existence in 2005 when Nevis government approved of the Foundation legislation. It’s the newest piece of offshore legislation to be implemented by the offshore jurisdiction of S Kitts.

International asset protection is becoming a vital part of business. Dual nationality programs in Nevis allow investors to apply via St. Kitts and Nevis citizenship by investment in real estate or to contribute to the Sugar Investment Diversification Fund. Approved agents are licensed by the authorities for helping interested investors and families. Second passports are helpful in many ways, some of which include assuring personal safety, free travel with less visa restrictions.

The Nevis Foundation is a legal offshore entity offered in Nevis which serves many purposes. For starters the Nevis offshore foundation can be used for asset protection. The legislation under which Nevis foundation is registered protects the assets placed in a Nevis Foundation form foreign courts and other foreign legislation. The Nevis foundation can be used as an instrument to reduce tax liabilities. The Nevis multiform foundation can be registered as an offshore entity making the foundation exempt from local forms of taxation such as income tax and corporate taxes among others. Nevis Confidentiality Act provides privacy and security for the owners and benefactors of the Nevis foundation since this act prevents persons from divulging information about any entity or corporation incorporated in the jurisdiction without the proper consent. Further privacy is allowed since not all information concerning Nevis offshore foundation incorporation is made part of public records. The Nevis offshore foundation can choose which information is made part of public records.

The Nevis Multiform foundation is perhaps the most flexible offshore entity available to this date. A person wishing to form a Nevis can choose to have the entity incorporated as a foundation or as one of the following: Nevis Limited Liability Company, Nevis Corporation or Nevis trust. The Nevis Foundation formation documents should state how the entity is to be treated. The constitution of the Nevis foundation can be changed anytime during its lifetime transforming it from one business entity to a next. Business corporations or other entities incorporated outside of the offshore jurisdiction of Nevis can be registered as Nevis foundation and the same applies for business companies and or other entities incorporated in offshore Nevis.

The incorporation of a Nevis offshore foundation is very easy. As with the incorporation of many other offshore entities in Nevis a registered agent is needed for foundation formation. A Memorandum of Establishment and the by- laws of the foundation is filed with the Registrar of Companies in Nevis. The information which is filed includes the name of the Nevis foundation, the name and address of the registered agent, names and address of the board of management, names and addresses of persons on the supervisory board, a statement making reference to whether or not the Foundation will be a tax resident of the jurisdiction, a statement verifying which type of entity the multiform foundation will take in the absence of no such statement the entity will be registered as an ordinary foundation.

The Nevis multiform foundation is one of the best offshore entities available today. The Nevis foundation can be formed as a tax resident and will be entitled to pay a very low tax rate of 1% on its annual profits. For this to be done the Nevis foundation must pay a registration fee of US$1000.