St. Kitts Nevis Coat-of-Arms

Frequently Asked Questions

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Anti-Money Laundering and Anti-Terrorism

  • Does Nevis have any legislation that defines money laundering and deals with the combating of money laundering?
  • To whom do the Guidance Notes on the Prevention of Money Laundering apply?
  • Does Nevis have an authority to deal with suspicious transaction reports?
  • Is there a requirement for service providers to report suspicious transactions?
  • Does Nevis have any legally enforceable guidelines or regulations on anti-money laundering and anti-terrorism?

Fiduciary Services

  • Who is a registered agent?
  • How can I become a registered agent?
  • What documentation is needed for the due diligence check when applying to become a management company?
  • What is a registered office?
  • How can I get a list of the registered agents/services providers?

General

  • Why is Nevis considered as a premier jurisdiction for International Financial Services?
  • What is the overall contribution of the Financial Services Sector to the economy of Nevis?
  • What is the present state of the Nevis Financial Services Industry?
  • Does Nevis have any instruments to facilitate the exchange of information for tax purposes Tax Treaties with any other jurisdictions?

International Insurance

  • What are the different classes of International Insurance Business?
  • What are the capital requirements for the different types of International Insurance Business?
  • Is there a Minimum Margin of Solvency?
  • Are there any reporting requirements?
  • Are registered agents required?
  • Can the Insurance Manager be non-resident?
  • What is the licensing time for Application to conduct International Insurance Business?

Multiform Foundations

  • What is meant by Multiform?
  • How can I use the Nevis Multiform Foundations?
  • Why should I choose the Nevis Multiform Foundations structure over other Foundations?

Nevis Companies

  • What are the different types of international companies?
  • How do I incorporate a Nevis LLC or IBC?
  • How long does it take to form a Nevis IBC or LLC?
  • Are there redomiciliation provisions for Nevis IBCs and LLCs?
  • Are there any reporting requirements for Nevis IBCs and LLCs?
  • Are bearer shares allowed?
  • What is the minimum number of members for a Nevis LLC?
  • What is the minimal number of Shareholders and Directors allowed for a Nevis IBC?
  • Do I always have to go through a registered agent?
  • What is the regulatory authority for Nevis LLCs and IBCs?

Nevis International Mutual Funds

  • Does Nevis have legislation for Mutual Funds?
  • How does the Ordinance define a mutual fund?
  • What are the various classes of Mutual Funds?
  • Are there redomiciliation provisions?

International Banking

  • What is International Banking?
  • How many international banks are there in Nevis?
  • Is there strict confidentiality in International banking?
  • Who is the regulatory authority for International Banks in Nevis?
  • What are the licensing requirements for an International Bank?
  • What are the minimum application requirements to do International Banking?
  • Are there any auditing requirements for International Banks?

Trusts

  • What are the types of trust offered in Nevis?
  • Can a non-Nevis domicile trust company act as trustee for a Nevis trust?
  • What if any are the perpetuity and accumulation periods for a Nevis Trusts?
  • Is there exclusion of forced heirship?
  • What are the asset protection features of the Nevis International Exempt Trust?

Insurance

  • What are the different classes of insurance offered?
  • What goes into forming and operating a captive?
  • Why do companies form captives?
  • What is the minimum capital requirement for an insurance company licensed in Nevis?
  • How can one apply for a license to carry on business as an insurance manager or registered agent in or from within Nevis?
  • What process must be followed to acquire approval from the Registrar to appoint certain persons such as auditors, directors?
  • Is it necessary to submit financial statements annually?
  • When to submit annual statements?
  • What if the audited financial statements cannot be submitted by the allotted deadline?
  • What is a "domicile"?
  • How does one select a domicile?
  • Are there benefits to locating in a well regulated domicile? Or should one merely select the jurisdiction with the most tax regulation, the lowest capitalization requirements, and in general the one that is the least expensive?
  • What are the Requirements for Re-domiciliation?
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