Nevis Trust

About Nevis Trust

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.

The Nevis Trust, with the formal name Nevis International Exempt Trust, is one of the leading offshore trust formation structures in the world offering strong asset protection benefits and tax incentives. Governed by the International Exempt Trust Ordinance 1994, charitable, spendthrift, and non-charitable purpose trusts can be formed.

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


Nevis Trust

A trust is a fiduciary relationship between 3 to 4 parties – the settlor, trustee, beneficiaries, and some cases, a protector – where a legal agreement is established. This legal agreement is known as the Trust Deed where the settlor transfers assets to the trustee and defines the objectives as well as the terms and conditions for how the assets are to be managed and distributed to the beneficiaries.


Benefits

With the strong asset protection legislation, Nevis helps prevent litigation before it even begins. As Nevis does not recognize foreign judgments, creditors will be faced with strong barriers to bringing a legal dispute against the Nevis Trust:

USD 100,000
Bond

Before bringing legal action against a Nevis Trust, a USD 100K bond must be paid upfront to the Nevis Ministry of Finance.

1-2 Years Statute of Limitation

Nevis offers a short statute of limitation of 1-2 years of pursuance of any claims to the Nevis Trust.

Nevis
Court

Physical presence is required to bring legal action against a Nevis Trust and must be tried in a Nevis court through a Nevis attorney.

Freezing
Order Ban

Opponents can request a Mareva Injunction, freezing the trust´s assets. While many common law jurisdictions recognize injunctions, Nevis does not allow asset freezing orders.


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 trust will help establish which legal structure is right for you. Our advisors will assist in setting up the Trust deed in accordance with the settlor´s wishes.

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

4. Each jurisdiction will have its own setup process and set of due diligence processes. Requirements typically include fulfilling KYC (Know Your Client) by proving your identity with proof of address, and providing the trusts´ information to draft the trust agreement.

5. Once the required documentation is received, the provider can then file the trust deed, making the trust legal and operational. The trustee, beneficiaries, and protector if applicable are appointed accordingly to the trust agreement.

6. The settlor’s assets are transferred to the trust granting the trustee legal ownership to acts in accordance with the trust deed.

7. The trustee manages the assets in the best interest of the beneficiaries and distributes income in accordance with the Trust Deed. If appointed, The protector can advise the trustee on how to protect the asset and distribute income to the beneficiaries.

8. Expenses including maintenance fees as well as any tax expenses incurred by the assets must be paid and maintained. Trustees must act in accordance with the Trust Deed and the protector can step in on behalf of the beneficiaries if needed.

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 trust will help establish which legal structure is right for you. Our advisors will assist in setting up the Trust deed in accordance with the settlor´s wishes.

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

Each jurisdiction will have its own setup process and set of due diligence processes. Requirements typically include fulfilling KYC (Know Your Client) by proving your identity with proof of address, and providing the trusts´ information to draft the trust agreement.

Once the required documentation is received, the provider can then file the trust deed, making the trust legal and operational. The trustee, beneficiaries, and protector if applicable are appointed accordingly to the trust agreement.

The settlor’s assets are transferred to the trust granting the trustee legal ownership to acts in accordance with the trust deed.

The trustee manages the assets in the best interest of the beneficiaries and distributes income in accordance with the Trust Deed. If appointed, The protector can advise the trustee on how to protect the asset and distribute income to the beneficiaries.

Expenses including maintenance fees as well as any tax expenses incurred by the assets must be paid and maintained. Trustees must act in accordance with the Trust Deed and the protector can step in on behalf of the beneficiaries if needed.


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