Nevis corporations also known as Nevis companies were first introduced by legislation in the 1984 under the Nevis Business Corporation Ordinance and was later amended in 2002.

As Nevis becomes more well known for its credibility as an offshore sector and an international financial sector, Nevis corporations are becoming more used and sought after by companies worldwide. The increasing popularity and expansion of Nevis (and St. Kitts) as an offshore jurisdiction was definitely influenced by the introduction of formation of the multipurpose Nevis corporations which are well suited for international trade. Nevis companies or Nevis business corporations are used by many types of businesses including: trading companies; shipping companies; Real estate investment companies; Investment and wealth management companies; and many more.

The flexible structure and organization of Nevis corporations allows its beneficial owner(s) to pursue any legal and definite business objective for commercial or non-commercial, charitable or non charitable purposes. The adaptability of the Nevis Corporation is facilitated through the Nevis Corporation’s ordinance.

Nevis Companies must be formed by (through) registered Nevis agents. These agents are listed and are licensed as offshore service providers for the purpose of incorporating Nevis companies, more specifically Nevis offshore corporations and other business entities.

Under the Corporation law, all Nevis corporations (corporations formed in Nevis) must maintain a registered office in Nevis. This is a service normally provided by the offshore service providers. Most Nevis offshore service providers offer incorporation and formation services and ancillary services for Nevis Companies such as nominee services, registered office, secretarial, but only a few actually engage in management services.

Any changes that are made with the Nevis company, such as changes in share allocations, changes to Nevis company constitution, changes in director must be recorded.

The process of forming and registering a Nevis IBC is relatively simple. Once an approved, and available Nevis corporation name is picked, the individual/s forming the company must then define the relationship between members of the Nevis Corporation, stating the role of persons in the corporation be it as directors, shareholder, beneficial owners.

In the event that the beneficial owners of a Nevis corporation want to remain anonymous, a nominee director and or shareholder can be used, and this nominee services is provided by the registered agent. In the instance where a nominee is used, the name of the beneficial owner will not appear on any of the Nevis Corporation’s formation documents, and a Power(s) of Attorney is issued to the beneficial owner of the company and if a nominee shareholder is nominated the relevant document will be issued. These documents will also be accompanied by letter(s) of resignation from the nominee(s). This is to ensure that real control of the Nevis IBC always remains with the corporation’s beneficial owner.

The merging of local companies with local companies or local with foreign companies is permitted in Nevis. New companies may be formed in keeping with the ruling laws for Nevis corporations.

All Nevis companies must pay annual maintenance fees which in essence keep the Nevis Corporation in good standing. Failure to pay these annual fees will result in the striking off of the Nevis Corporation from register. Where this may have happened, restoration of a Nevis corporation is permitted providing the necessary fees and fines are paid in full. On the other hand, if the company remains in debted to the registry for maintenance, the company will be presumed to be in the process of dissolving or winding up.

Nevis offshore corporations that do not conduct any local business on Nevis are not liable to any tax on income, withholding tax, asset tax, stamp tax, corporate tax or exchange controls.