Nevis Foundation

About Nevis Foundation

St Kitts and Nevis is a beautiful 2- island nation located in the Caribbean Sea, boasting white sandy beaches, clear blue water, mountains, and tropical rainforests.

As one of the wealthiest nations in the Caribbean, St Kitts & Nevis offers a politically and economically stable environment with a sophisticated legal framework and highly developed banking systems. Applicants of the citizenship by investment program can benefit from this prosperous nation and obtain a strong and reputable passport.

Prime Minister:
Timothy Harris

Government:
Federal Parliamentary Democracy

Economy:
Trading, Tourism, Real Estate and Financial Sectors

Currency:
Eastern Caribbean Dollar

Capital City:
Basseterre

Population:
Less than 55,000

Language:
English

Tax system:
Territorial Tax System

Members of:
UN, OAS (Organization of American States), Commonwealth, CARICOM


Benefits

With the strong asset protection legislation, Nevis helps prevent litigation before it even begins and creditors will be faced with strong barriers to bring a legal dispute against the Nevis Foundation:


Characteristics


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Process

1.While many offshore jurisdictions offer similar advantages and benefits, there is no one-jurisdiction-fits-all. Our advisors will discuss your needs and goals and ask you the right questions to help determine which jurisdictions are right for you.

2. Defining the objectives of the foundation will help establish which legal structure is right for you. Our advisors will assist in setting up the foundation charter in accordance with the founder´s wishes.

3. Choosing a local resident agent is key in establishing a well-defined foundation that adheres to local laws and offers the foundation the most protection and privacy. As this is an ongoing relationship, it is advisable to set up an offshore foundation with a reputable and trusted firm.

4. Each jurisdiction will have its own setup process and set of due diligence processes. Nevis requires clients to fulfill KYC (Know Your Client) by proving their identity with proof of address, as well as completing a simple form to provide the necessary information to draft the Memorandum of Establishment (charter) and regulations.

5. Once the required documentation is received, the provider can then file the foundation charter, creating a legal entity in the public registry. The regulations of the foundation or letter of wishes are then privately issued.

6. The founder´s assets are transferred to the foundation thereby transferring legal ownership of the assets to the foundation. The Nevis Foundation requires an initial subscription of USD 10K of any property and assets vested in the foundation.

7. The management board manages and fulfills any duties in accordance with the by-laws of the foundation while the supervisory board, similar to a protector or enforcer, oversees the affairs of the foundation and ensures the management board is fulfilling its duties.

8. Nevis foundations require the management board to hold their first annual meeting within 1 month of the foundation set up. Expenses including annual maintenance fees as well as any tax expenses incurred by the assets must be paid and maintained. Financial statements are required to be maintained, though filing of the statements is not required. Returns, with any changes to the Memorandum of Establishment, must be filed annually.

While many offshore jurisdictions offer similar advantages and benefits, there is no one-jurisdiction-fits-all. Our advisors will discuss your needs and goals and ask you the right questions to help determine which jurisdictions are right for you.

Defining the objectives of the foundation will help establish which legal structure is right for you. Our advisors will assist in setting up the foundation charter in accordance with the founder´s wishes.

Choosing a local resident agent is key in establishing a well-defined foundation that adheres to local laws and offers the foundation the most protection and privacy. As this is an ongoing relationship, it is advisable to set up an offshore foundation with a reputable and trusted firm.

Each jurisdiction will have its own setup process and set of due diligence processes. Nevis requires clients to fulfill KYC (Know Your Client) by proving their identity with proof of address, as well as completing a simple form to provide the necessary information to draft the Memorandum of Establishment (charter) and regulations.

Once the required documentation is received, the provider can then file the foundation charter, creating a legal entity in the public registry. The regulations of the foundation or letter of wishes are then privately issued.

The founder´s assets are transferred to the foundation thereby transferring legal ownership of the assets to the foundation. The Nevis Foundation requires an initial subscription of USD 10K of any property and assets vested in the foundation.

The management board manages and fulfills any duties in accordance with the by-laws of the foundation while the supervisory board, similar to a protector or enforcer, oversees the affairs of the foundation and ensures the management board is fulfilling its duties.

Nevis foundations require the management board to hold their first annual meeting within 1 month of the foundation set up. Expenses including annual maintenance fees as well as any tax expenses incurred by the assets must be paid and maintained. Financial statements are required to be maintained, though filing of the statements is not required. Returns, with any changes to the Memorandum of Establishment, must be filed annually.


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