The corporate world has become tougher, especially regarding the establishment of corporations outside the country of residency. To prevent financing illegal activities and crime, organizations such as the OECD have risen and gotten powerful during the past years. However, Nevis’s corporate regime remains highly competitive and robust. Despite OECD pressure, Nevis has managed to balance a well-regulated compliant regime and meet OECD demands while it maintains its traditional offshore advantages. There are three main corporate structures in Nevis, each with its distinctive advantages, the LLC, the IBC, and the LP: -The LLC (limited liability company):

• Is one of the most popular asset protection tools worldwide.
• It is used in many self-directed IRA structures and holding entities.
• Combined with a Nevis trust, the LLC becomes a Fort Knox of asset protection because neither the LLC owner nor the beneficiary of the trust is on a public registry.
• Can be established in a couple of days.
• Is entirely tax-free.
• No substance requirements. -The IBC (international business company):
• It has pretty much the same characteristics as the LLC but it’s limited by shares.
• There is the added burden of demonstrating that the company is managed from overseas with an overseas office, otherwise, there might be a tax liability. -The LP (limited partnership):
• It must consist of at least one person who serves as a general partner and at least one who serves as a limited partner.
• The partners are exempt from all kinds of tax in Nevis.
• LPs don’t need to appoint auditors for their accounting and must only keep accounting records sufficient to explain their financial records. No country has been fully able to avoid the EU and the OECD’s international regulations. However, some countries, like Nevis, do maintain their tradition of offering financial incentives and tax benefits to those willing to establish a corporation there.

What do Nevis’s Corporate Structures Offer to Investors?

• As we said, if properly structured, no taxes of any kind.
• If paired with a Nevis trust or multiform foundation, your privacy is guaranteed as the owners’ and beneficiaries’ names are not in any public registry.
• Nevis’s legal system is based on the British Common Law and Delaware’s corporate legislation. This means that Nevis has a pro-business, pro-privacy, and pro-asset protection legal system. They don’t even recognize foreign judgments, which fully protect your company and your assets.
• Nevis has little to no substance requirements. You don’t need to have an actual office or personnel, just a registered address and a local representative (our partner can serve as your representative).
• There are no paid-up capital requirements and no specific accounting requirements. However, the company should keep books with transactions to prepare financial statements. In that sense, Nevis’s legal system can help you overcome many issues that may exist in other jurisdictions since its corporate law is based on both Common Law and Delaware’s corporate legislation (USA). This is an advantage that Nevis offers, even though the rest of its legislation was founded on English Common Law. Also, you must know that the Nevis Business Corporation Ordinance of 1984 will be your best partner in this process if you can get familiarized with it.

Nevis’s most important and popular corporate structure is the LLC, which is famous for its flexibility and tax advantages. In Nevis, you can establish a corporation (IBC or LLC) straightforwardly and have significant advantages such as no minimum required capital and no worldwide tax. A corporation in Nevis is certainly an essential part of your international asset protection structure.

Establishing a Company in St. Kitts and Nevis

Establishing a company in St. Kitts and Nevis is easy. Since they offer user-friendly and flexible legislation and a qualified pool of professionals with expertise in asset management and finance, you would be right to consider this as your next jurisdiction for corporate services. Nevis is known as a welcoming, innovative, and progressive jurisdiction, where the incorporation process is efficient. There is no compromise on the quality of service or the carrying out of international best practices. Corporate services in St. Kitts and Nevis are private and confidential. For example, the names of corporate managers, directors, and shareholders are not required to be filed with the country’s Registrar of Companies. Thus, these names stay private and are never made known to the public. In short terms, St. Kitts and Nevis might become the perfect place to incorporate your offshore corporation if you:

• Want the benefit of strong asset protection.
• Want a private and secure registration.
• Desire relatively simple and easy offshore incorporation.

Why Should You Incorporate Your Offshore Company in St. Kitts and Nevis?

A corporation registered in St. Kitts and Nevis offers many benefits such as the ones mentioned before (privacy and confidentiality for shareholders, managers, and directors; and fast incorporation). However, if we go deeper, we will find other attractive benefits such as:

• No worldwide taxation, which means that income and assets obtained outside the territory of Saint Kitts are not subject to fees and taxes or currency control.
• No minimum authorized capital.
• The owner can structure the company without problems.
• Legal entities and natural persons can be appointed as participants of the managing board and managers, and their place of residence and citizenship does not matter.
• Only one owner is allowed.
• The management can be delegated to third parties. In this case, the beneficial owner is granted absolute confidentiality.

What Types of Companies can be Incorporated in St. Kitts and Nevis? In these beautiful Caribbean islands, there are two types of international companies:

International Business Corporations (IBCs), which are incorporated under or continued under St. Kitts and Nevis Business Corporation Ordinance 2017. Limited Liability Companies (LLCs), which are organized under or continued under St. Kitts and Nevis Limited Liability Company Ordinance 2017.

IBCs are tax exempted on all income earned from anywhere in the world except St. Kitts and Nevis. However, the most popular entity, because of its exceptional asset protection and tax flow-through benefits, is the LLC. It is much more beneficial from a tax and asset protection perspective than the IBC, at least for most people. If you are interested in one of these options, you should know that it takes approximately 24 hours to form a St. Kitts and Nevis LLC or to incorporate an IBC. Also, a foreign entity can easily be re-domiciled as a St. Kitts and Nevis LLC or IBC.

What Documents Will You Need to Register a New St. Kitts and Nevis Corporation?

Most jurisdictions worldwide can seem challenging at first when trying to register a structure. However, this is not the case with St. Kitts and Nevis, and we can mention some of the documents you will need for sure during this process.

1. Passport of each shareholder/beneficial owner and director.
2. Proof of residential address of each director and shareholder (Must be in English or a certified translation).
3. The proposed company names.
4. The issued share capital and par value of shares.

Then, if you continue the process, you will receive corporate documents such as Certificate of Incorporation, Business Registration, Memorandum and Articles of Association, etc. After that, your new company in St. Kitts and Nevis is ready to do business.

Reporting Requirements for Corporations in St. Kitts and Nevis

St. Kitts and Nevis corporations are not required to keep accounting and auditing records. Consequently, the corporation has the freedom to decide how to maintain its records. However, under AML/CFT regulations, registered agents acting on behalf of entities are required to obtain and maintain KYC/CDD information on all principals including, for example, beneficial owners, settlors, controlling shareholdings, directors, major beneficiaries, etc. St. Kitts and Nevis regulators recognize a single-member IBC. There are no limitations on the number of members. Besides this, an IBC can also be managed by a single manager, the same as with an LLC. The minimum number of shareholders required is one, and the minimum number of directors required is also one. Shareholders, directors, and other officers of the corporation can reside anywhere and be of any nationality. Likewise, the entities must always maintain a registered agent and a registered office in St. Kitts and Nevis.

What Else Should You Know About Corporate Services in St. Kitts and Nevis?

When registering a new corporation in St. Kitts and Nevis, the law requires selecting a unique corporate name. In other words, they require you to choose one that is not like any already existing St. Kitts and Nevis corporate names found in the Registrar of Companies. Also, St. Kitts and Nevis do not require a minimum authorized capital for their corporations. St. Kitts and Nevis allow bearer shares with the Regulator’s approval, that is, the Registrar of Corporations. The registered agent holds the bearer certificates for the owner. They will also maintain a register of each bearer’s share. Now, regarding the company’s management, St. Kitts and Nevis has two options. First, the company can choose to be governed by either its shareholders or, second, they can choose appointed managers. Therefore, the number of managers depends on how the company’s Articles of Organization are composed. A detail to notice here is that these corporations’ managers do not have to be shareholders and can live anywhere in the world. Moreover, either private persons or corporations can be named as St. Kitts and Nevis corporation managers. Every Nevis corporation must appoint a local registered agent who is pre-approved by the Nevis government to serve as a registered agent and have a local office address to accept official notices. However, a Nevis corporation can have its main office anywhere in the world.

St. Kitts and Nevis Taxation

The corporations in this country are exempt from both income taxes and capital gains taxes, withholding tax, and stamp duty. Therefore, your company will be exempt from all estate, inheritance, or succession tax. As if it was not enough, St. Kitts and Nevis is a party to double taxation treaties with Denmark, Norway, Sweden, Switzerland, the United Kingdom, and the United States of America (limited to social security benefits).

What Can We Do for You?

Our team provides services for registration, maintaining companies, and opening bank accounts in different jurisdictions, including St. Kitts and Nevis. Here at Privatus Maximus, our experts support individuals and companies for corporate services and even banking.

In other words, we are the corporate consultants that you are looking for to incorporate your company in St. Kitts and Nevis. Do not hesitate to ask for help and guidance in the process. Contact us right now.

Nevis banking laws provide utmost secrecy for Nevis accountholders, making it one of the world’s prized jurisdictions. Furthermore, Nevis is a solid banking destination for those that might not want to look for exclusive banking destinations such as Switzerland, Cayman Islands, or Liechtenstein, but still want first-level privacy and tax optimization.

For wealthy families and individuals, privacy is key. It is not a coincidence that the Rockefeller family has established their properties in such a fine structure of trusts that it is actually impossible, even for governments, to know what they own. We are not saying that everybody needs such a high anonymity level, but we show this as an example of how important privacy is for high and ultra-high net worth individuals.

Saint Kitts and Nevis actually offers this type of privacy through a solid banking system. The country is a CRS member since 2017, but again, so is practically the rest of the world. Nevis still maintains an important level in the current financial arena when it comes to privacy and asset protection. This level of privacy is highly competitive and a rare diamond in the financial world nowadays.

However, St. Kitts and Nevis is still a first-level banking jurisdiction for a variety of reasons:

• Under CRS, banks only report to the country of residency, but they don’t disclose information to anyone else nor the general public.

• Saint Kitts and Nevis does not tax foreign income, and there lies your solution to this problem. If you establish an official tax residency in Saint Kitts and Nevis and receive income and dividends abroad, then the foreign banks will report to Saint Kitts, which won’t tax these profits.

• You can enjoy utmost privacy in Nevis because, if you establish a bank account with a Nevis LLC or foundation, your name as UBO will be kept private.

• A bank account is typically opened within ten days after an application is accepted. No personal visit to the bank is required.

• Zero tax on foreign-sourced income.

• Multi-currency accounts and online banking are available.

• Banks are highly liquid.

• The local currency (Eastern Caribbean Dollar) is pegged to USD 1:2.70.

St. Kitts and Nevis has a lot more to offer than simply beautiful landscapes and beaches in the Caribbean. We want to introduce you to the broad options you have for offshore banking in this country.

First, in St. Kitts and Nevis, international banking is understood as receiving foreign funds through foreign deposits, sale or placement of foreign bonds, certificates, notes, or other debt obligations or securities. It also includes any other activity deemed and declared by the Minister of Finance similar to international banking activity.

International Banking in St. Kitts and Nevis

St. Kitts and Nevis is a member of the Eastern Caribbean Currency Union (ECCU) comprised of 8 territories, including these islands. The central bank of the ECCU is the Eastern Caribbean Central Bank (ECCB), responsible for regulating the group’s banking industry in collaboration with each participating member. St. Kitts and Nevis has its own supervision framework for anti-money laundering and is a member of the Caribbean Financial Action Task Force (CFATF).

St. Kitts and Nevis Financial Services (Regulation and Supervision) Department is the regulatory authority for Nevis’s international banks. Therefore, this institution sets the procedures and documents you need to follow and gather when trying to deploy banking activities in this country.

Check out the Nevis international banking regulations right here.

This department aims to encourage the development of St. Kitts and Nevis as a reliable international financial center. Therefore, the banking legislation is comprehensive with a strong built-in regulatory framework to ensure that licensed banks can be properly monitored to safeguard the depositor’s funds.

A foreign company incorporated in St. Kitts and Nevis is not required to open a bank account there. In addition, there is no direct legislation controlling transfers of funds into and outside the country. Foreign companies can freely repatriate dividends and profits to the extent of their foreign business.

All of this proves that Nevis is one of those few nations whose economy is centered around its offshore banking sector, meaning it is specifically geared towards providing the exact type of environment that you, as an investor or family office, are looking for.

How to open an account in St. Kitts and Nevis?

Whether it is a personal or corporate account, St. Kitts and Nevis has a broad range of options for foreigners interested in international banking. In that sense, we must highlight that there are two primary ways to open an account in Nevis:

1. A personal account held by the individual.

2. A corporate account through the formation of an offshore limited liability company (LLC).

Opening a corporate account with an LLC is much preferable as it creates a separation between the individual and their assets. Consequently, this strengthens their asset protection capabilities.

Now, the main attractive feature of St. Kitts and Nevis’s banking system is that it is possible to open accounts remotely. To do so, you will need the following documents:

• Bank forms.

• Bank statements of the latest 6 months as proof of funds.

• Bank reference letter not older than 3 months.

• Certified copies of valid passports and residency proofs from the past three months for all directors/ shareholders/ account signatories.

• If it is a corporate account, the banks will ask for copies of the company’s documents (confirmation of the beneficial owners’ positions, the charter, registration certificate, etc.).

• Business trading proofs.

• Business plan.

Even though these are not all the possible requirements, they are, for sure, the most common. In general, St. Kitts and Nevis’s local government provides foreign business owners with comprehensive support for conducting profitable and stable business activities. This means that they know how much these investors need a simplified process to open bank accounts in the country.

Just so you know, banks in St. Kitts and Nevis offer a full range of services for natural persons and legal entities at internal, regional, and international levels.

Banking product includes:

• Remote asset management.

• Prepaid, debit, credit cards.

• Deposit accounts.

• Currency transactions through VISA and MasterCard systems.

• Credit facilities.

• Merchant account.

• Brokerage services, etc.

St. Kitts and Nevis’s offshore banking system is especially recommended for those who are looking for a very high degree of confidentiality and asset protection. You are unlikely to find any other place that ensures the same security level as Nevis offshore bank accounts.

Are there any international standards applicable to international banking in Nevis?

The Core Principles guide of the FSRC is St. Kitts and Nevis Branch for Effective Banking Supervision, released by the Basel Committee on Banking Supervision. These principles address in detail supervisory powers, compliance with supervisory standards, risk-based supervision, a bank’s responsibilities and functions, intervention and supervisory actions, and the importance of good corporate governance and risk management. As such, these principles form the supervisory pillar for all onsite examinations that will be administered by the FSRC.

The RBS Framework is used for both onsite and off-site surveillance of international banks and includes the actions to be performed during the supervisory process. The framework provides a structured approach for understanding and assessing key risks inherent to an international bank’s activities. This will apply if its risk management processes are adequate in the context of the key risks and if its earnings, capital, and liquidity are sufficient to support its risk profile and withstand unexpected shocks.

The report must also be read to the shareholders at the annual meeting of the international bank. In the report, the auditor must state whether he/she has obtained all the information and explanations needed and provide an opinion on all relevant financial statements for the period under review. The auditor must also note any instances where the operations of the international bank may not follow the requirements of St. Kitts and Nevis International Banking Ordinance or Regulations. The international bank must ensure that a copy of the auditor’s report is displayed in a conspicuous place at its office in Nevis.

What can we do for you?

We work with registered agents in St. Kitts and Nevis for banking and corporate services. If you want to open your bank, or simply open corporate or personal bank accounts, do not hesitate to contact us for help and guidance in the process.

We also work with a pre-approval system to enhance your chances of effectively open a bank account. We have plenty of experience opening bank accounts in Nevis because we offer wide corporate services on the island including trusts, foundations, LPs, and LLCs. The process to open a bank account is simple:

1. You send us your documents.

2. We pass it through our pre-approval to see if we can find a matching bank for you.

3. We send your application to the bank.

4. You wait for a few days, and your bank account is available to be used.

Do not let misinformation stop you from widening your horizons and appreciating the advantages that this Caribbean country can offer. Contact us right now for a consultation.

With well-chosen real estate assets, you could enjoy predictable cash flow, excellent returns, tax advantages, and diversification. Therefore, we want to introduce you to the options and benefits offered by the real estate sector in St. Kitts and Nevis. This country is highly diversified and offers incredible opportunities.

To buy St Kitts and Nevis property, several options are available for foreigners, and they can also obtain citizenship through them. In this section, we have prepared a brief introduction about two real estate options that can show the real beauty and great prospects in this sector: Zenith Nevis, Park Hyatt St. Kitts, Christophe Harbour St. Kitts projects and much more.

This island country attracts people from all corners of the world for its breathtaking landscapes, pleasant Caribbean climate, and friendly environment for raising families and conducting great businesses. Nevertheless, we can mention a few advantages to invest in the Nevis real estate sector:

-Overall, real estate prices in St. Kitts and Nevis remain low compared to other Caribbean islands. There are all types of St. Kitts real estate for sale, but some of the most attractive ones are the Zenith Nevis, Park Hyatt St. Kitts and Christophe Harbour St. Kitts projects.

• Buying property in St. Kitts and Nevis is not only an alluring investment. It can also become a pathway for you to get yourself and your family a magnificent second passport and citizenship.

• In the 2020 CBI Index, St Kitts & Nevis ranked number one or joint-first for offering fast and straightforward processing, reliable due diligence, and certainty. It also obtained top marks for not requiring applicants to travel and reside for any minimum period.

• As of April 2020, more than 75% of applicants choose property investment to get St Kitts and Nevis citizenship. Last year, 100 properties were approved for the Citizen by Investment Program.

• The investments in real estate in St. Kitts and Nevis provide substantial room for capital appreciation.

• Due to the development of the region´s business environment, acquiring a property in the Federation can also become a good option for retirement in the long term if that is what you wish. The benefits of investing in Nevis real estate include passive income, diversification, and leverage.

Why Should You Invest in Real Estate in St. Kitts and Nevis?

St. Kitts and Nevis’ real estate market is increasingly popular among homebuyers who desire to experience a wonderful climate, luxurious living conditions, and a dreamy atmosphere. However, the offer is wide, considering that it is not only about houses, villas, or apartments. There is an increasing number of international hotels and high-end resorts being built in Nevis as we speak.

In that sense, we can say for sure that the Caribbean tourist market has experienced a strong growth, following the financial crisis in 2008 and 2009. As USA recovered the crisis, interest from the American visitors and investors has been strong.

Land values have been escalating over the past two years. Beach properties are scarce and many buyers demand to be “on the beach”. The main market consists of applicants seeking citizenship in St. Kitts & Nevis, but there is a secondary market described as buyers, seeking a beach property of modern high standard.

The larger part of the rental market consists of American tourists, but also British and other European citizens have traditionally visited St. Kitts & Nevis.

Russians have also been buying real estate in St Kitts and Nevis during recent years. A key factor in this has been the Citizenship by Investment Program, which has been stimulating real estate sales. The strong rental demand is also driving up profits on investments. According to the local real estate listings, a three-bedroom house with a pool, for instance, rents short-term for $2,500 to $3,000 per week during the high season and $1,200 to $1,500 per week in the low season.

Since we know this is a big market, we prepared two perfect options that fit all you might be looking for. Read further for more information.

What Can You Invest in?

St. Kitts and Nevis offer a wide range of property types for interested investors as the government is actively approving projects that have long-term positive impacts on the national economy. The property types an investor can choose from include condos or villas, which can be personally used or rented out, shares in five-star resorts, housing projects, or real estate to be rented out by a managing company.

You must know that property prices may vary depending on the property itself. But, if what you are looking for is to obtain St. Kitts and Nevis citizenship through the investment program, it requires an investment of a certain amount for applicants to be eligible. We will develop this in detail further.

What Can We Do For You?

Making a foreign investment in any sector is an important decision in anyone’s life. The real estate sector is not the exception. For this reason, it becomes essential to work with professionals who can actually give you the best options and perform thorough due diligence while providing you with transparent information during the whole process. If that is what you are looking for, our partners and experts at Privatus Maximus are your best option. If the two projects we mentioned sound attractive, but you want more details (legal, economic, etc.) do not hesitate to contact us and ask for more information. Dare yourself to discover everything St. Kitts and Nevis has to offer in its real estate sector and not only. To know more about how you can become a citizen of this country with an investment in real estate, enquire now.