Who needs Asset Protection?

What is a Tax Haven?

What are Tax Havens used for?

Why utilize a Tax Haven?

Does Nevis have a secrecy law?

Is there any situation where Bank secrecy can be lifted?

Can foreign tax authorities obtain information on Nevis bank accounts?

Is Nevis an independent country?

Is there an income tax in Nevis?

Is there a tax treaty between the U.S. and Nevis?

Are there any other taxes in Nevis?

Are there any exchange controls in Nevis?

Is there a tax treaty between Canada and Nevis?

Does Nevis allow the formation of Limited Companies?

Does Nevis allow the formation of Limited Liability Companies?

Does Nevis allow the formation of International Trusts?

Do you have a standard Trust Document?

How can I transfer funds to you or into my offshore company's bank account?

What are the coordinates for wiring funds to you or to my company account?
 

Who needs Asset Protection?

The answer is obvious - anyone who owns assets. If you have debt-free assets, you are the prime target of frivolous lawsuits. As a successful individual, you may find yourself as a defendant of one of over 20 million civil lawsuits filed every year. Many of these lawsuits result in judgments that can reduce a substantial net worth to virtually nothing. By properly structuring the ownership of your assets, a potential plaintiff may be dissuaded from commencing costly litigation.
back to FAQ List


What is a Tax Haven?

Implicit in the everyday meaning of the word "haven" is a place where one is protected from something. A tax haven is traditionally viewed as a place of shelter, particularly from high income taxes and currency controls.
back to FAQ List


What are Tax Havens used for?

When considering the use of a tax haven, one must remember that although tax havens may have the potential to attract illegal activity, they should not be condemned for this reason alone. Such a generalization would in essence be a condemnation of international tax planning, which has long been regarded not only as a privilege, but as a right.

The utilisation of tax havens is clearly only limited by the imagination of individuals, companies, and their respective tax planners. Tax havens openly acknowledge the needs of individuals to safeguard their assets, and to place limits on the high tax burden they are exposed to in their current country of residence. If all countries recognized these needs, or at the very least considered them, the utilization of tax havens would probably diminish over time. However, until these needs are recognized, tax havens will continue to play an ever increasing role in all facets of tax planning.
back to FAQ List


Why utilize a Tax Haven?

The following list provides many of the most common reasons why individuals and corporations utilize tax havens. Nevis has been organized to permit the following objectives to be easily achieved:

1. Taxes on Income - To minimise or eliminate the reporting and paying of income tax on earnings, interest, dividends, and investments.

2. Taxes on Capital Gains - To protect against high capital gains taxes and reporting requirements.

3. Taxes on Estates - To reduce or avoid inheritance taxes, estate taxes, executor's fees, and probate fees.

4. Asset Protection - To protect assets from creditors, malpractice claims, judgments, liens, and bankruptcy, and to deter the initiation of civil litigation.

5. Divorce and Separation - To prevent the erosion of assets as a result of divorce or separation.

6. Safekeeping - To prevent any individual or government agency from locating your private documents.

7. Public Record - To prevent any knowledge of your assets or affairs from becoming public.

8. Investment - To protect the privacy of your involvement with investment houses, brokers, and securities markets.

9. Share Holding - To protect the privacy of corporate ownership from becoming known to any individual or government.

10. Cash - To prevent any person or government from gaining access to your hard currency.

11. Management - To centralise the holdings of securities, real estate, and various other assets, which may be held and managed in several jurisdictions around the world.

12. Active business - To earn tax free income through the operation of an active business. Examples include advertising, consulting, factoring, leasing, and trading.

13. Intellectual Property - To earn tax free income generated by the licensing of trade marks, patents, royalties, software licenses, and other rights from an offshore company.

14. Travel - Use offshore funds and automatic teller machines to gain immediate access to hard currency anywhere in the world.

back to FAQ List

Does Nevis have a secrecy law?

YES. The Confidentiality Relationship Act of 1985 prohibits the unauthorised disclosure of information pertaining to a client's affairs to a third party, punishable by a prison sentence.
back to FAQ List


Is there any situation where Bank secrecy can be lifted?

YES. Although Nevis' secrecy law prohibits the unauthorised disclosure of information, the law does not apply to activities that are considered crimes in Nevis, such as illegal drugs, theft, or fraud.
back to FAQ List


Can foreign tax authorities obtain information on Nevis bank accounts?

NO. Confidential information can only be released at present if there is suspected criminal activity such as illegal drugs, theft, or fraud, but only by a Court order issued in this Federation and is not available to foreign governments for tax investigations.
back to FAQ List


Is Nevis an independent country?

YES. Nevis is part of the Federation known as St. Kitts (St Christopher) &  Nevis, which achieved Associated Status with Britain in 1967 and attained full political independence in 1983. The twin islands are governed by a stable democracy. St. Kitts and Nevis is a member of the British Commonwealth and the United Nations.
back to FAQ List


Is there an income tax in Nevis?

YES. Local companies are liable to pay tax at a rate of up to 40% of net annual profits. This tax does not apply to the profits of an approved enterprise which has been granted benefits under the Fiscal Incentives Act. Offshore companies which by definition are doing business outside the Federation are exempt from all forms of taxation.
back to FAQ List


Are there any other taxes in Nevis?

NO. There is no capital gains tax, gift tax, or estate tax in Nevis.
back to FAQ List


Are there any exchange controls in Nevis?

NO. There are currently no exchange controls in Nevis. The official currency is the East Caribbean (EC) Dollar, which is governed by the Eastern Caribbean Central Bank, and which is tied to the US dollar at the rate of EC$2.70 = US$1.00.
back to FAQ List


Is there a tax treaty between the U.S. and Nevis?

NO. There is no double-taxation agreement between the U.S. and Nevis, although double-taxation agreements are maintained with Denmark, New Zealand, Norway, Sweden, Switzerland, and the United Kingdom.
back to FAQ List


Is there a tax treaty between Canada and Nevis?

NO. There is no double-taxation agreement between Canada and Nevis.
back to FAQ List


Does Nevis allow the formation of Limited Companies?

YES. Non-resident domestic companies are governed by the Business Corporation Ordinance 1984, which has been modeled after Delaware and New York company law. Nevis corporations offer the following advantages and benefits:

• Bearer shares or registered shares may be issued, however bearer shares have to be deposited with the Registered Agent and reported to the Registrar of Companies.

• Share capital may have a par value or no par value.

• Only one director and one shareholder is required.

• Directors and secretary may be corporate, and may be of any nationality.

• There are no nationality restrictions on beneficial owners.

• Shareholders’ and directors’ meetings may be held in any jurisdiction.

• Filing of annual returns is not required.

• It is not necessary to file the names of the directors, officers, or shareholders.

• Company records and principal office may be located in any jurisdiction.

back to FAQ List

Does Nevis allow the formation of Limited Liability Companies?

YES. Nevis offers the option of forming a Limited Liability Company (LLC), similar to American LLCs first formed in 1977 in the state of Wyoming.
back to FAQ List


Does Nevis allow the formation of International Trusts?

YES. In April 1994, Nevis introduced new Asset Protection Trust (APT) legislation. Unique features include a requirement that anyone starting an action against a Nevis Trust must first post a bond of US$25,000.
back to FAQ List

Do you have a standard Trust Document?

Yes, we do have a standard Trust document you can look at - please click the link "Trust Document" to download the document in Word format or click here for PDF format.

back to FAQ List

How can I transfer funds to you or into my offshore company bank account?

Funds can be transferred to us using wire transfer, bank drafts, cashiers checks, personal checks, money orders or postal orders, however, no checks from any source are to exceed $10,000, and no endorsements are allowed (check must be payable to Caribbean Trust Company), or into an offshore company bank account via wire transfer only.

back to FAQ List

What are the coordinates for wiring funds to you or to my company account?
 

back to FAQ List