Nevis foundations which are also known as Nevis Multiform foundations were introduced in 2005 when the legislation which regulates the formation of Nevis foundations was successfully passed before parliament. The Nevis Foundation presents a flexible and hybrid foundation structure which has many advantages. The Nevis foundation laws make it possible for a Nevis foundation to be structured and operate as one of the following: Business Corporation, trust, an ordinary foundation, a partnership or a limited liability company.

Nevis Foundations can be formed and incorporated by persons of any nationality. Incorporation guidelines states that in order to register Nevis foundations the services of a registered agent must be used. Nevis foundations will not be registered if no registered agent is used. The registered agent along with the persons wishing to register Nevis Offshore foundations must put together a Memorandum of Establishment which is signed by the registered agent and delivered to the Registrar of Companies in the jurisdiction of Nevis. The information which is contained in the memorandum of establishment is as follows:

• The name of the Nevis Foundation
• The name and address of the registered agent
• The initial assets of the Nevis foundations or the assets to be transferred to the foundation
• The names and addresses of the persons who will service on the management board
• The names and addresses of the persons who are to service on the supervisory board of the Nevis Foundation
• The name and address of the Secretary of the Nevis foundation
• A statement declaring what structure the Nevis Foundation will take
• The bylaws of the Nevis Foundation and a statement saying whether or not they will be made available for public inspection

There are many advantages to forming Nevis foundations. Nevis foundations can be used as asset protection tools, for estate panning as well they can be set up for charitable purposes. The offshore jurisdiction of Nevis does not recognized the rulings of foreign courts in regards to claims made against Nevis Foundations therefore assets in Nevis Offshore Foundations are safe from forced hiership. Nevis foundations have the advantage of being registered in an offshore tax haven which means that Nevis foundations which gain no incomes from within the jurisdiction of Nevis will pay no local taxes on foreign generated incomes. No capital gains tax or withholding taxes will be paid by Nevis Foundation which does no business with residents of the offshore jurisdiction. Nevis foundations legislation has made it easy for Nevis Foundations to be registered as resident foundation. Nevis foundations registered as resident foundation are eligible to pay local Nevis taxes on its capitals. To apply for a Nevis foundation to become a tax resident of Nevis a small fee must be paid. Upon approval the Nevis foundation will e subjected to local taxation at the rate of one (1%) per cent of the annual profit of the foundation.

The Nevis Foundations or Nevis Multiform Foundations present a modern and very progressive type of business entity.