We have an established back office in Nevis for more than a decade. We offer truly low-cost, fast and confidential services.
The Nevis Multiform Foundation is a unique modification of the standard Foundation that allows the Nevis Foundation to take on the form of a Company, Trust, and Partnership or as a standalone Foundation. The Nevis Multiform Foundation is unlike any other. This flexible, customizable and creative Foundation maintains the original concepts of any Foundation. It is a legal body that is separate from its creators.
The Nevis Offshore Foundation can be used internationally for philanthropic or charitable reasons and Nevis Foundations can also be used for inheritance and estate planning and asset and wealth protection. Additionally, the Nevis Foundation can very well be used to maintain corporate control under a veil of ultimate privacy and confidentiality.
The Nevis Foundation is a protection and holding instrument in which various assets: real, tangible or intangible such as corporations, shares, bank accounts, investment holdings, real estate, art collections, pension funds, Trusts, to name a few: can be held.
The concept of the Foundation is centuries old and proven in its function. Many offshore jurisdictions see the Foundation entity as a means of increasing its portfolio of products. While some merely adopt the preexisting laws of Foundations, others like Nevis, actually modify and improve the Foundation entity to make it more appealing, functional and attractive to clients.
All Nevis Foundations are mandated under the Multiform Foundation Ordinance of 2004.
Generally, like other offshore Foundations, the Nevis Foundation constitutes the same principal concepts:
- A Nevis Foundation has no owners; a feature that makes it attractive to clients, as the assets endowed to the Nevis Foundation has no specific owner.
- The assets of a Nevis Foundations take on a separate legal identity from the personal assets of the Founder, the members of the management board, or the Beneficiaries.
- The Nevis Offshore Foundation benefits from the exemption of all taxes
- Protection and privacy of owners is guaranteed under the prescribed Foundation law.
- A Nevis Foundation is an offshore Foundation as long as the founder, the managing officers and the beneficiaries do not reside in Nevis.
- Nevis Foundations cannot engage in regular trade or business activity but it may carry out business in a non - routine manner and derive earnings from investments, sales, deposits etc.
Nevis Private Foundation - Advantages and Benefits
- Nevis Foundations may take on one of several forms: Nevis Company Foundation, Nevis Trust Foundation, Nevis Partnership Foundation or a regular Nevis Foundation. The initial form acquired by a Nevis Foundation may be changed to another at any time in the Foundation's life.
- No taxes are applied on Nevis Foundations profits or gains.
- Other corporate entities can be converted, merged or consolidated into a Nevis Foundation.
- Nevis Foundations may become a tax resident of Nevis, under which it would pay an annual tax of 1% of levied income and facilitate local business opportunities.
- Foundations established in Nevis are guaranteed confidentiality and privacy.
- Nevis Foundations are not subject or accountable, to foreign laws or judgments.
- The Nevis Foundation may exist for life; it is granted with the option of perpetuity.
- Nevis Foundations may engage in any legal commercial or civil activity anywhere in the world.
- A Nevis Foundation may be revocable or irrevocable.
- A Nevis Foundations may be re domiciled into or out of Nevis.
- A Nevis Foundation enables anonymous ownership and control of corporate bodies: The Founder and Beneficiaries are not publicly registered.
- Foundation matters may be settled out of court through an arbitration process.
The document by which the Nevis Foundation is established is the memorandum of Establishment and the By-laws (if any) of the Foundation, must be written in English. This Memorandum of Establishment should state:
- the name of the Nevis Foundation;
- the address of its registered office in Nevis;
- the registered agent information;
- a Statement of the multiform to be adopted by the Foundation;
- the purpose of the Nevis Foundation;
- the duration of the Foundation;
- the revocable or irrevocable status;
- any other lawful clauses that the founder may deem convenient;
- the particulars of the initial subscription (US10,000 or more required);
- the accepted laws of governance and management.
Uses of Nevis Offshore Foundation
Nevis offshore Foundation have many uses, some of those uses are highlighted below.
- For increased confidentiality and discretion and information protection- a Nevis Foundation is automatically protected by a corporate veil, and Nevis does not allow "piercing the corporate veil", so your Foundations books are kept100% private and confidential by law.
- As Holding entities - Nevis grants corporate existence to a Nevis Foundation and as such a Foundation may buy, own property in any form, conduct business, trade and other commercial activity.
- For greater asset protection.
- To carry out legal transfer of ownership while reducing tax liabilities.
- To legally Separate assets from personal holdings.
- In tax Planning - reduce tax liabilities.
- For estate planning.
- For philanthropic reasons - the benefits of social causes.
Nevis Foundation Characteristics
In order to establish a Foundation in Nevis you must maintain a registered office in Nevis and must appoint a licensed Nevis law firm or lawyer as the registered agent. We provide all these Nevis offshore services.
In general, Nevis Offshore Foundations may not engage in habitual profit-making commercial activities as a corporation can. Nevertheless, they may carry out commercial activities from time to time, as long as the profits of those activities are used for the objectives of the Foundation. For instance, Nevis Foundations may engage in investment activities or banking, such as investing in stocks, bonds, bank time deposits, mutual funds, money markets, etc. so long as the proceeds from these investment activities are for the benefit of the beneficiaries of the Foundation.
Constitutional Requirements for Nevis Foundations:
- One or more persons, be it individuals or bodies corporate may be the founder (creator) of the Nevis Foundation.
- Founders, members, beneficiaries or protectors may be natural beings, or corporations of any nationality, domiciled anywhere in the world.
- The founder can be a beneficiary or a member.
- There is no limit on number of founders, members or beneficiaries.
- The Foundation must at all times
- Be managed by a Management Board with one or more persons; where the council is a corporate entity there must be at least three directors;
- Have a secretary who may not be the sole member of the management board;
- Have a registered agent in Nevis. (OCH provides these services to all our clients);
- Have a registered address in Nevis;
- Annual Meetings of the Management Board must be held but can be held when and where the Foundation pleases and by any means available- telephone, video conference etc.
- Nevis Foundation's books and accounts (if any) must be kept at the registered office of the Nevis Foundation.
We offer Nominee Services for Nevis Foundations to provide for your further confidentiality and privacy.
Nevis Foundation Taxation & Fees
Nevis Foundations offer the following tax advantages:
- Nevis Foundations are exempt from all taxes.
- No tax reporting requirements.
Nevis Offshore Foundation, shall not:
- Do business with residents of Nevis.
- Own interest in real property in Nevis.
- Carry on business in banking or insurance business except if the appropriate license is granted.
Nevis Foundation may:
- Have professional contact with local lawyers, accountants, investment advisors etc.
- Hold meetings in Nevis.
Council member services are offered. You do not have to be present in Nevis to register your foundation. With your instructions, we will do it all for you.
We offer a variety of Foundation packages either with or without bank account openings.
Form a Nevis Foundation! Protect Your Wealth!
For purposes of this document, the term "Nevis Foundation" has the same meaning as "Nevis Offshore Foundation", "Nevis Multiform Foundation", "Nevis Private Foundation", and "Nevis Private Offshore Foundation", "Nevis Private Interest Foundation".