Offshore Services in Nevis
The scope of offshore services in Nevis are wide incorporating financial, legal and management services often found in offshore jurisdiction.
The list of existing Nevis offshore services are:
- Formation of international exempt Nevis trusts
- The formation of international insurance companies;
- The creation of mutual funds;
- Offshore Banking;
- The formation of Multiform Foundations;
- The registration and incorporation of Nevis business corporations;
By law, the registering, the incorporation or the establishing of any sort of offshore entity in Nevis has to be done through a registered Nevis agent, this agent (company or individual) will be licensed by the government to provide offshore services in Nevis.
Nevis companies such as the Nevis business corporation and Nevis limited liability companies (LLCs) must also maintain a registered office in Nevis where relevant documentation is kept.
Through regulatory actions by the Commission, offshore financial services in Nevis benefit from a reduce risk of financial malpractice in the sector, conformity with international rules and effective promotion that enhances and protects the jurisdiction’s image as a safe shelter offshore. The Nevis offshore services are administered and managed by the supervision of the St. Kitts and Nevis Financial Services Commission, whose main objective is to meliorate the entire services and desirability of the offshore financial services sector in Nevis
Offshore services in Nevis are provided on the basis that the beneficial owners of an offshore entity, legal or natural, is not a resident of Nevis and that business transactions take place outside Nevis. It is also on this ground that offshore services in Nevis are offered within a tax free environment, with the exception of license fees that are to be paid to the government of Nevis on a yearly basis- but these do not constitute any form of taxation on offshore companies or services.
Offshore banking services in Nevis includes a comprehensive range of financial products and services that cater to investors, expatriates, people employed abroad and organisations which handle large sums of money and deal with foreign currencies on a regular basis. In Nevis, offshore banking services are provided in the context of the regulatory framework established not only in St. Kitts, but within the Eastern Caribbean Currency Unit (ECCU) and the Basel Committee on banking Supervision. Adherence to established for the provision of offshore services in Nevis is central to ensuring a successful financial services sector.
The role of the recently launched (2008) Nevis Investment Promotion Agency (NIPA) as a policy maker, facilitator of investments and promoter of offshore company registration and other offshore services in Nevis is critical to the progress the jurisdiction undergoes in the near and distant future.
Offshore services in Nevis sets the tone of the investment and business climate, which is vibrant, managed with a proactive attitude and transparence.