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HOME / NEVIS / NEVIS FOUNDATION

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Nevis LLC | Nevis IBC

Nevis Foundation - All Inclusive Packages From - 860 UK £ - 990 EURO € - 1290 USD $

Nevis Foundation Establishment

The Nevis Multiform Foundation is a one of a kind foundation. It may be formed by one or more natural or legal persons and may take on one of many forms: Trust Foundation, Company Foundation (IBC or LLC), Partnership Foundation, and Ordinary Foundation.

Nevis Foundation Applicable Laws

The Nevis Multiform Foundations Ordinance 2004 is the current law.

Nevis Foundation Requirements

The "Memorandum of Establishment" (referred to as the MOE in this document) is the official document required to formally register the Nevis Foundation and this document shall state:

The name of the foundation;

The initial form of the foundation;

The name of the subscriber or promoter;

The initial subscription transferred, or to be transferred, with a statement of assets and property for identification purposes;

The name and address of the registered agent (mandatory);

The purpose or object of the foundation;

The full names and addresses of the first management board(may be nominee members);

The full names and addresses of the first supervisory board (if any);

The name and address of the secretary (required);

Whether the foundation is revocable or irrevocable

Whether the foundation sis established for a definite or indefinite period

And any other provisions which apply foundation.

The promoter of a Nevis foundation is a person who establishes, but may not necessarily be a subscriber who is the person who makes a initial, or subsequent endowment or subscription.

Purpose of Nevis Multiform Foundation

It can be established for any legitimate, ethical purpose, though it may not conduct any activity on, in or within the country, nor may it engage in any financial services business unless it has been granted a license to do so. One advantage of a Nevis Foundation, upon registration, acquires the status of a separate and legal personality

Paperwork

The Memorandum of Establishment may be written in any language, but if it is written in a language other than English it must be accompanied by a certified English translation.

Nevis Foundation Bylaws

By-laws are mandatory and may include information that pertains to: endowment distributions, naming of beneficiaries, management guidelines, policies or procedures and any other lawful matter relating to the purpose and operations of the offshore foundation. The Bylaws together with the MOE form the "constitution ".

Nevis Private Foundation Name

Names for Nevis foundations MUST end with the word Foundation or the approved FDN ending that signifies the multiform of the company such as company, trust, partnership, limited liability. Foreign language words and their abbreviations are accepted. Names can be reserved for a period of up to 120 days.

Administrative Requirements of Nevis Foundations.

Nevis Foundations must at all times:

  • have a registered (and regulated) agent in Nevis
  • have a registered office;
  • have a Management Board
    • This may be one or more persons, individuals or corporate entities;
    • The duties of the management board will be set forth in either the memorandum or in its by-laws;
    • Nominee foundation council members are permitted.
  • Have a secretary
    • May be an individuals or corporate entity;

Meeting of Nevis Foundations

The Nevis foundation council may hold meetings as set out by the MOE or the by-laws. These meeting may be held anywhere and anytime. Such meetings may be conducted via telephone or other electronic means. Nevis foundations must have a first meeting within nine month of formation, and should hold at least one annual meeting.

Nevis Foundation Registers

It should contain the identification on the management board’s members and its secretary. This register must be kept at the registered address at all times. Registered address services are provided by us, a regulated registered agent.

Nevis Foundation Accounts and Records

It must keep proper accounts (sales, purchases, assets, liabilities, and income and expense records). These documents may be kept at the registered address or can be held elsewhere provided the location is known by the registered agent.

Nevis Foundation Taxes

An offshore foundation shall be exempt from ALL taxes on condition that: the founder, the beneficiaries, the property or assets, contributions originate outside of Nevis. It can opt to become a resident foundation and elect to pay taxes at a rate of not more than 1%. It is exempt from all taxes including: income tax, asset tax, gift tax, capital gains tax, distributions tax, inheritance tax, estate duty tax, as well as stamp duties.

Optional Features of the Nevis Foundation

Appointment of a Guardian

The MOE may appoint a supervisory board. One or more persons or a legal entity may sit on the supervisory board, and if so, act jointly in their capacity. The duties, rights and powers of the guardian are specified in the MOE or the by-laws. The supervisory board is appointed by the founder or any other person empowered to do so under the foundation's MOE. A member (not a sole member) of the management board may be a member of the supervisory board.

Nevis Private Interest Foundation Advantages:

  • When a subscriber (individual or corporate) contributes assets to a Nevis foundation the ownership of the endowment is transferred to the foundation, and asset no longer attached to former owner.
  •  A key feature of Nevis offshore foundations is ability of the Nevis foundation to take on one of several operational forms, such as a trust foundation, a corporate foundation, where the functionality of the foundation can be maximized. Nevis Foundations may be re-domiciled out of Nevis, and the law permits the domiciliation of non Nevis foundations into Nevis.

The package for foundation will include a Certificate of Registration, Certificate of Good Standing, and the Memorandum of Establishment and By laws if any. If nominee services are used, the necessary documents, Power of Attorney will be provided in the package.


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