Nevis companies registration process:
For IBC companies:
Minimum of one private individual or corporation. Companies with 3 or more shareholders are required to have a board of directors with at least 3 directors, at least two of whom must be private individuals and one director may be a corporation. No residency qualification applies.
If the number of shareholders is less than 3, the number of the directors may be reduced but should still be at least the same as the number of shareholders. A shareholder may also be a director.
Each company must have at least one shareholder and no residency qualifications apply. If the company owner wants total anonymity we can provide nominee shareholders.
There is no secretary requirement.
We can provide the services of a physical secretary if needed. Please contact us for detailed information on virtual offices.
For LLC companies:
- The company can be incorporated by only one person (corporate or natural) who may act as the director and the shareholder.
- There are no authorised capital or minimum capital regulations.
- Shares are not issued.
- Any offshore company or private individual may be the owner.
- At least one board member is required.
- The company may be managed by board members or third parties.
- Dividends are distributed according to the share capital of the company.
Nevis companies are required by Law to have a registered office.
There are no requirements for minimum or maximum share capital.
As a general practice the share capital is $100,000 divided into 100,000 shares with a $1 nominal value. The amount of the share capital does not impact on the sum of the annual licence fee (levy).
There is no requirement for the payment of shares at incorporation. The shareholders may pay the shares at any time they think fit (in practise the shares often remain unpaid).
Shares without par value are allowed. Bearer shares may be issued (certificates of such shares must be deposited with the custodian).
7-10 business days but delivery of the full set of original documents may take additional time. Shelf companies are available.
Accounting and auditing:
There are no requirements for statutory accounting and auditing. However, according to the laws of Nevis, IBCs and LLCs must maintain accounts and keep documentation on the financial operations of the company.
By Law, accounting documentation of LLCs should:
- give an accurate and fair view of the financial position of the company at any time;
- facilitate preparation of the financial statements of the company, if needed;
- be sufficient to verify and explain each and every transaction, asset and liability of the company;
- be kept for at least 5 years at the office of the registered agent or at any other place accessible to members of the company for inspection. Accounts may be requested by local authorities in the event of litigation. Any breach of the above regulations will result in a penalty of $5,000.
Accounting of IBCs is subject to the same regulations, including the obligation to keep accurate accounts, contracts and invoices. Companies are also obliged to keep minutes of the meetings of shareholders, directors and adopted resolutions.
Information kept in the registries:
There is no open registry of companies.
Information on beneficiaries, shareholders and directors is not submitted to the register, it remains secret and may be disclosed only by the decision of a local court.