Nevis

First settled by the British in 1623, Saint Kitts, Nevis, and Anguilla became an associated state with full internal autonomy in 1967. The island of Anguilla rebelled and was allowed to secede in 1971. Saint Kitts and Nevis achieved independence in 1983. Nevis has substantial autonomy under the constitution. It has an island assembly, a premier, and a deputy general. It may secede from the Federation of St. Kitts and Nevis under certain specified conditions. The Federation is a member of the Commonwealth and has a legal system based on English common law.

Nevis, the most popular jurisdiction for offshore incorporation, offers a wide range of financial services including company formation, fund administration, insurance, banking, and trust services. Nevis is probably best known for its laws concerning limited liability companies (LLC). Nevis has enacted one of the most favorable LLC statutes in the world. The Limited Liability Company Ordinance of 1995 provides protection for assets and offers an alternative to those considering using partnerships or corporations.

An LLC is taxed as a partnership rather than a corporation. Accordingly, corporate taxes may be eliminated by operating as a "tax neutral" entity. Nevis LLCs are often used by investors in countries such as the United States for asset protection. The LLC may be designated as a "pass through" entity for tax purposes. As such, tax will only be assessed by the jurisdiction of the beneficial owner's residence.

The Nevis LLC offers a simple and efficient vehicle for managing assets while maintaining financial privacy for the beneficial owners. Nevis has strict financial confidentiality laws. Nevis financial institutions are forbidden from disclosing account information absent an order by a court in Nevis. In addition to banking confidentiality, Nevis LLCs provide a substantial level of asset protection. Foreign judgments are not enforceable in Nevis. Consequently, any entity desiring to make a claim against a Nevis LLC must litigate the issue in a Nevisian court. Moreover, anyone attempting to sue a Nevis LLC must first post a $25,000.00 bond. After posting the bond, the potential plaintiff must then submit a legal brief arguing why the lawsuit should be permitted. If the court determines that the suit is unwarranted, it will not be allowed to proceed and the bond will be forfeit. Due to this requirement, frivolous suits are virtually non-existent in Nevis.

In addition to the LLC, Nevis also offers International Business Corporations and Asset Protection Trusts. As with the LLC, paid in capital is not required, bearer shares are permitted, there are no reporting or auditing requirements, and the business structures are tax exempt for all income earned outside of Nevis.