International Business Company & Limited Liability Company
The Nevis Business Corporation Ordinance of 1984, amended in 1995, placed Nevis at the top of the list among International Business Company (IBC) and Limited Liability Company (LLC) jurisdictions. Similar to the corporate laws of Delaware in the U.S., the Nevis Business Corporation Ordinance permits shareholders, directors, and officers of any nationality to reside anywhere in the world and allows shares to be issued in nominative form. The process is so legally unproblematic that FFT can often form an LLC or IBC in a single business day.
The advantages of incorporating in Nevis are numerous. Some of the most important are:
- No corporate tax, income tax, withholding tax, stamp tax, asset tax, exchange controls or other fees or taxes on assets or income originating outside of Nevis. However, clients may be responsible for taxes in their home jurisdictions.
- There are no gift, estate, dividend, distribution, or inheritance taxes.
- Corporate documents are not a matter of public record. There are no filing requirements for corporate financial returns, annual reports, and no notification requirements for changes in shareholders, directors or officers.
- The corporation’s principal office, company records, and meetings may be held or maintained outside of Nevis.
- A business license is not required.
- A plaintiff bringing civil suit must post a U.S. $25,000 bond prior to initiating a lawsuit.
- The statue of limitations for bringing a civil suit is one year.
In addition, Nevis has specific laws on Limited Liability Companies that protect corporate assets and offer unique tax planning opportunities.
First Fidelity Trust, Ltd. offers a variety of management services that can be orchestrated to suit your unique requirements. Banking and mutual fund services ?, international invoice operations and complete accounting services are available for international corporate operations.
International Business Corporation
An International Business Corporation (IBC) is a legal business entity that is established in a foreign country for the purpose of doing business in your home country and in other countries, but not in the country in which it is established.
An International Business Corporation (IBC) is tax exempt on all income not earned in the international center. An IBC need not file annual returns. Corporate records may be kept anywhere in the world, and annual general meetings or meetings of the Board of Directors are not required in most international locations. A company may be incorporated to conduct any lawful business and there is no need to enumerated the particular objective for which the company is incorporated.
Limited Liability Company
The Nevis Limited Liability Company (LLC) combines the asset protection provisions of a limited partnership with the lawsuit protection benefits of a Nevisian company, thereby enjoying the benefits of both structures.
The Nevis LLC is analogous to limited liability companies springing up throughout the U.S. and elsewhere in the Caribbean. The owners of an LLC are referred to as members, who may be thought of in the same way as one thinks of partners in a partnership or shareholders in a corporation. Their precise characterization will depend on the nature of LLC’s management. The LLC can be used for any business venture or professional practice anywhere in the world outside the International Center.