Nevis enjoys a certain level of autonomy from the Federation and has introduced legislation which supports its offering of a broad range of wealth management and succession planning tools. There are many advantages of doing business in Nevis.
Advantages of Nevis
- Independent jurisdiction
- Exemption from income, withholding, gift, estate and succession taxes
- Stable political environment and secure economy
- Well-developed financial services industry
- Common law legal system based on English law
- Well-developed professional infrastructure
- Excellent telecommunications system
- Easy air access to North America and Europe
- No foreign exchange restrictions
- Citizenship programs are available for investors.
Taxation
Nevis Business Corporations (IBCs) and Limited Liability Companies (LLCs) are exempt from all local taxes, including income, withholding, capital gains taxes, stamp duties and other fees or taxes based upon income or assets originating outside of Nevis or in connection with activities outside of Nevis.
Privacy and Disclosure
Information about beneficial owners, shareholders/members, directors/managers and officers may be disclosed through voluntary filings. However, in other instances the information is not filed with any Registry accessible to the public.Nevis remains committed to all international standards of transparency and has been rated “largely compliant” by the OECD in this regard.
Transfer of Funds
There are no currency exchange or transfer of funds controls in Nevis.There is a 15% with-holding tax for non-residents according to the Income Tax Act. The transfer of dividends, interests, royalties and profits do not require the approval of government except for the payment of with-holding tax and there is no capital gains tax.
Political System
The Federation of St Kitts and Nevis is a constitutional monarchy with a Westminster-style parliament. It became independent from the United Kingdom in 1983.
St Kitts and Nevis is a member of the Caribbean Community (CARICOM) and the Organization of Eastern Caribbean States (OECS), and has its own representation at the United Nations.
Legal System
The legal system is based on the English Common Law.
Suitable for:
Aviation, Yachting, Holding Companies, Property Ownership, any legal purpose
Vehicle Types:
Limited liability companies, IBCs, trusts, foundations.
Capital primary business districts:
Charlestown
Tax Burden - Business:
Very light
Tax Burden - Individual:
Very Light
Headline tax rates:
Corporate Income Tax (CIT)(resident companies 33%), Personal Income Tax (PIT) 0%, Value Added Tax (VAT)10% and 17%
Treaty Jurisdictions (Double Taxation Treaties):
Antigua and Barbuda, Montserrat, Belize, Dominica, Grenada, Guyana, Jamaica, Monaco, Saint Lucia, Saint Vincent and the Grenadines, San Marino, Switzerland, Trinidad and Tobago,United Arab Emirates.
TIEA Jurisdictions:
Aruba, Australia, Belgium, Canada, Curacao, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Guernsey, Iceland, India, Ireland,Liechtenstein, Netherlands, New Zealand, Norway, Portugal, South Africa, Sint Martin, Sweden, United Kingdom.
