Exploring Offshore in Nevis: IBC or LLC?

With over three decades of proven reliability as an offshore jurisdiction, Nevis presents stability and a multitude of advantages for those considering IBC or LLC formation. Are you in search of a locale with business-friendly legislation, an adept workforce, a commitment to service best practices, competitive fees, and clear rules for offshore IBC and LLC formation? Nevis is the ideal choice. Furthermore, its robust asset protection against legal and financial risks makes Nevis a prime selection, especially for establishing offshore trusts and foundations. It’s no wonder that Nevis continues to allure global investors and high-net-worth individuals seeking to register an offshore company.

What Sets Nevis Apart?

We would like to share some insights for individuals contemplating offshore company registration in Nevis. This enterprise can bring over various benefits:

  • Non-resident offshore corporations in Nevis enjoy tax exemptions on income sourced outside the country;
  • Registering an offshore company in Nevis is swift and can be done remotely;
  • There is no obligatory minimum share capital or investment requirements;
  • You can register an offshore company in Nevis as an individual or a legal entity;
  • There are no limitations on the number of members in LLCs and shareholders in IBCs;
  • Offshore companies in Nevis do not face specific requirements regarding the profiles, residence, or nationality of their founders, directors, or managers unless under sanctions;
  • While financial reports are mandatory for offshore companies in Nevis, there is no need for regular submissions. Instead, these reports and audits are maintained by the registered agent and can be accessed by authorized representatives of the FSRC (Nevis Branch) upon request;
  • Nevis is absent on the FATF black and grey lists, which enhances its appeal for investors;
  • Nevis permits the use of professional directors/nominee services, with any updates related to beneficial owners, shareholders, directors, or officers recorded by the registered agent.
  • There are no foreign exchange transaction restrictions or currency controls;
  • With six Double Tax Treaties (DTTs) and twenty-one Tax Information Exchange Agreements (TIEAs), Nevis is successful at preventing double taxation;
  • Nevis’s courts do not recognize court decisions from other countries, which provides an advantage in asset protection;
  • The owner can re-domicile a company from another jurisdiction, keeping the company name and foundation date. Corporation Registrar provides the service of expedited re-domiciliation.

The government incentives and business-friendly legislation have fueled the growth of IBCs, LLCs, trusts, and foundations in Nevis. This trend is particularly appealing to small and medium-sized businesses and corporations worldwide.

In Nevis, two kinds of offshore companies are available for registration: an International Business Company (IBC) or a Limited Liability Company (LLC). Additionally, you can register three types of trusts in Nevis: protective trust, charitable trust, and a purpose trust.

Advantages of Nevis IBCs

The prerequisites for founders and management of offshore Nevis IBCs are quite relaxed:

  • Shareholders, directors, managers, and secretaries of Nevis IBC offshore companies can be residents or non-residents of any nationality or location;
  • It is a practical idea to appoint professional directors or nominees and managers for a IBCs.
  • IBC shareholders and directors can make important decisions without calling a meeting and can issue proxies in writing.
  • While annual financial reports must be maintained by Nevis IBCs, there are no requirements to submit them to the authorities. These reports must be archived for 5 years, not necessarily in Nevis, with access provided promptly upon request to FSRC registered agents;
  • The names of the IBC founders do not need to be disclosed to the Public Business Register. However, the agent’s records must remain updated;
  • There is no requirement for mandatory auditing of financial records;
  • The share capital of an IBC can be formed in any currency;
  • Making amendments to IBCs’ Articles of Incorporation is allowed at any point;
  • IBCs in Nevis can be merged with foreign and international corporations;
  • It is possible to re-register or redomicile a foreign corporation as an offshore in Nevis;
  • International treaties provide relief for IBCs double taxation, making opening IBCs an attractive choice for business owners.

To learn about the Nevis IBC incorporation costs and services or the legitimacy of IBC formation, please refer to our articles on this portal or request an individual consultation with our experts.

Advantages of Nevis LLCs

The key strengths of offshore LLCs and IBCs in Nevis are similar, with Nevis LLCs having some additional advantages, including the following:

  • LLCs are taxed on a pass-through basis: the LLC itself is not taxed; its owners are individually liable for taxes;
  • Nevis authorities simplified the procedure of registering an LLC in Nevis;
  • LLC registration in Nevis is more cost-effective compared to IBC;
  • An LLC founder can also serve as its director.

Shareholders of an LLC are not held personally responsible for the debts, legal troubles, or other obligations of their company.

Differences between IBC and LLC

Legal frameworks constitute the main distinction between incorporation of LLCs and IBCs in Nevis:

  • The regulatory framework for Nevis LLCs falls under the Nevis Limited Liability Ordinance, operating under common law, while Nevis IBCs are subject to the Business Corporation Ordinance 1984, following British common law. A significant difference is that IBCs are structured with shareholders, but LLCs operate with members. Moreover, variations exist in terms of liability and asset protection for the primary stakeholders. A comprehensive understanding of these distinctions is essential for making well-informed decisions correspondent to the objectives of business owners;
  • Double taxation treaties do not apply to LLCs, but they are accessible for IBCs, allowing members to take advantage of them to avoid double taxation.
  • A minimum of three directors are mandatory for public IBCs, whereas this requirement is not applied to LLCs (and private IBCs).

If you are looking to register offshore companies in Nevis, our team of International Wealth experts can provide advice on the optimal business structure and help with preparing the documents and registering the offshore company in Nevis. Also, you can request a personal consultation with our experts regarding this or any other issue connected with offshore activities, relocation, foreign residence, or second citizenship.


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