St. Kitts Nevis Coat-of-Arms

IBCs

St. Kitts Nevis Coat of Arms

Legal Framework

Overview

A corporation formed under the Nevis Business Corporation Ordinance (NBCO) is the equivalent of what is commonly termed as an International Business Corporation (IBC). The Nevis Business Corporation Ordinance provides for a corporation to be incorporated to conduct any lawful business. The registration process is simple and easy. A person interested in incorporating an IBC in Nevis must first engage the services of a registered agent licensed by the Nevis Island Administration with a registered office in Nevis. The legislation stipulates that the office of the registered agent is the registered office of the corporation.

The name of the desired IBC must be submitted to the registered agent, who would instantaneously reserve the name of the IBC using the Nevis Online Registration Module or by contacting the Corporate Registry. Once the name has been reserved, the Nevis IBC can be incorporated by filing Articles of Incorporation with the Registrar of Corporations. If the incorporation documents comply with the NBCO, a certificate of incorporation and/or endorsement certificate certifying the incorporation can be issued in less than twenty four (24) hours.

The benefits of using the Nevis Business Corporation Ordinance as an asset protection tool can be summarized as follows:

  • The NBCO permits the use of shareholders, officers and directors, who may be of any nationality and who may reside anywhere. Also, a Managing Director may be appointed to guide the corporation's activities. The Corporate Secretary may be a corporation or an individual. Corporations may serve as directors, and alternate or substitute directors may be appointed. All shareholders and directors may act by unanimous consent, without a meeting and are allowed to issue proxies in writing. No annual reports are required to be filed in the public records of Nevis.
  • Corporate records may be kept anywhere in the world but must be readily accessible by the Registered Agent of the corporation and the FSRC - Nevis Brand upon request. Whenever there is a change in shareholders, directors or officers, this change does not have to be reported to the Registrar of Corporations but must be reflected in the records held by the Registered Agent as stipulated by AML/CFT Regulations. AML/CFT On-site Examinations are conducted by the FSRC - Nevis Branch to ensure that Registered Agents comply with these stipulations.
  • The authorized share capital of the Nevis IBC may be demonstrated in any recognized currency. The identity of beneficial owners and shareholders are not required to be filed in any public record except in the case of corporations that are licensed insurance entities. AML/CFT Regulations stipulate that such information must be obtained and maintained by the Registered Agent of the corporation.
  • With respect to Bearer Shares, they have been restricted.  Bearer shares are only permitted with the approval of the Registrar of Corporations or the Regulator. The Registered Agent must maintain custody of the bearer share certificate on behalf of the beneficial owner and must maintain a register of each bearer share.  AML/CFT On-site Examinations are conducted by the FSRC - Nevis Branch to ensure that Registered Agents comply with these stipulations.
  • Nevis IBCs may amend their Articles of Incorporation, merge or consolidate with foreign corporations or other Nevis corporations, or file Articles of Dissolution in accordance with liberal provisions contained in the NBCO.  This allows for there to be minimum bureaucratic interference and enhances efficiency and reduces costs.
  • Additionally, the Ordinance provides that any corporation may easily re-domicile into or out of Nevis. Companies formed under or that have been re-domiciled or continued under the Nevis Limited Liability Company Ordinance, can be easily converted into corporations by a simple conversion procedure.  The Ordinance also provides for the emergency transfer of domicile to Nevis upon the approval of the Registrar of Corporations.
  • Charges in writing created or entered into by Nevis IBCs can be registered with the Registrar of Corporations.
  • The NBCO states that if a director is a natural person and is resident in Nevis or if the director is a corporation and is registered in Nevis and meetings of the board of directors are regularly convened from Nevis, then there is a presumption that the mind and management of the corporation is also in Nevis. If there is a conflict of law regarding the taxation of the corporation then there is a presumption that the NBCO would apply. 
  • Corporations can become tax resident in Nevis from their date of incorporation or may apply to become tax resident subsequently, under the tax resident option. The corporation will have to apply for a tax resident certificate and pay such tax or taxes at a prescribed rate of the equivalent to the current tax rate charged for unincorporated business tax on Nevis. 

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Contact Information

 

Financial Services Regulatory Commission, Nevis Branch

P.O. Box 689, Main Street
Charlestown, Nevis
West Indies

Tel: (869) 469 - 1469
Fax: (869) 469 - 7739

Email:This email address is being protected from spambots. You need JavaScript enabled to view it. (Companies Registry and General Enquiries)

Email: This email address is being protected from spambots. You need JavaScript enabled to view it. (Compliance Division)

Email: This email address is being protected from spambots. You need JavaScript enabled to view it. (International Insurance Division)

Email: This email address is being protected from spambots. You need JavaScript enabled to view it. (International Banking Division)

 

Please see Registration Form Below: