Part II of the Multiform Foundations Ordinance, Cap 7.08 sets out the establishment procedure for a foundation.

Like the formation of a company, one must first engage the services of a registered agent who is authorized to act as agent of the foundation. That registered agent must have an office to which all communications and notices may be addressed. The promoter of the foundation, through its registered agent may reserve a name prior to establishment of the foundation.

If the foundation is a trust foundation, then the name must accord with that multiform so that the trust foundation has the word “trust” in it. The name must not be prohibited by law: schedule 5 of the Nevis Multiform Foundation Regulation has a list of restricted names. Irrespective of the prohibited word list, the Registrar of Foundations will not reserve a name that is misleading, undesirable, confusing or similar to another name of an entity registered in Nevis.

Once the Registrar confirms that a name is available and valid for use, that name can be reserved for a period of one month. The Registrar has discretion to permit a name to be reserved for a longer period. Once a name has been reserved, the following establishment documents must be submitted to the Registrar in order to establish the Multiform Foundation:

  • Application Form
  • Consent Schedule
  • Memorandum of establishment setting out the following:
      • The foundation’s name and address of its registered office in Nevis;
      • The particulars of the initial subscription transferred, or to be transferred, to the foundation;
      • The particulars prescribed by the Registrar with respect to the registered agent;
      • The particulars prescribed by the Registrar with respect to any person or persons who are to be the first management board;
      • The particulars prescribed by the Registrar with respect to any person or persons who are to be the first supervisory board;
      • The particulars prescribed by the Registrar with respect to any person who is to be the first secretary;
      • An undertaking, in the case of a tax resident foundation, that the management board shall forthwith notify the Minister, by notice in writing, if the multiform foundation ceases to be a tax resident foundation;
      • A statement as to its initial multiform and which, in the absence of any such statement, shall presumed to be an ordinary foundation;
      • A statement as to whether the by-laws are to be made available for public inspection; and
      • Any other particulars required by the Registrar to be provided for under or in accordance with this Ordinance.
  • By laws (if standard by-laws are not adopted)
  • The relevant fees must accompany the documentation for establishment of a foundation.
The Matter in Respect of which Prescribed Fee Shall be PayableUSDXCD
Filing Annual Return250.00675.00
Issuing any Certificate (including Certificate of Filing)30.0080.00
For undertaking an Apostille25.0068.00
Issuing a Certificate of Correction100.00270.00
Issuing a Certificate of Discontinuance345.00932.00
Issuing a Certificate of Establishment287.00775.00
Issuing a Certificate of Establishment by Consolidation345.00932.00
Issuing a Certificate of Establishment by Continuance345.00932.00
Issuing a Certificate of Establishment by Conversion345.00932.00
Issuing a Certificate of Establishment by Merger345.00932.00
Issuing a Certificate of Establishment by Transformation345.00932.00
Issuing a Certificate of Establishment for Change in Proper Law176.00475.00
Issuing a Certificate of Good Standing35.0095.00
Issuing a Certificate of Filing of Amended By-laws176.00475.00
Issuing a Certificate of Establishment of Change in Multiform287.00775.00
Issuing a Certificate of Registration on Change of Name176.00475.00
Issuing a Certificate of Revival287.00775.00
Issuing a Certificate of Tax Residency1157.003125.00
Issuing a certified true copy of filed documents:
  -First three pages10.0027.00
  -Each additional page0.752.00
For conducting searches20.0055.00
For late penalties for filing documents:
  – for first six (6) months115.00311.00
  – after six (6) months250.00675.00
For undertaking a name reservation30.0080.00
For Undertaking a Renewal of Name Reservation   30.00   80.00
For filing a notice of change of or by the registered agent or situation of the registered office30.0080.00
For filing a notice of change of the particulars of the secretary, management board or supervisory board30.0080.00
For filing a notice of dissolution150.00405.00
For filing a withdrawal of a notice requesting by-laws are made available for public inspection on the Register30.0080.00
For filing a withdrawal of notice requesting that particulars of members of management board are available for public inspection on the Register30.0080.00
For filing a withdrawal of a notice requesting particulars of members of the supervisory board are available for public inspection on the Register30.0080.00
For filing a notice requesting by-laws are made available for public inspection on the register30.0080.00
For filing a notice requesting particulars of members of management board are made available for public inspection on the Register30.0080.00
For filing a notice requesting particulars of members of supervisory board are made available for public inspection on the Register30.0080.00
For undertaking a renewal of name reservation30.0080.00
For receiving voluntary filings40.00108.00
Administrative Fee (rush requests,re-application of Fees requests etc.)   30.00   80.00
For late filing of Annual Returns (foreach day the offence continues)   50.00 135.00