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Nevis International Business Companies (NBCO)
[ Nevis LLC Factsheet ] [ Nevis Co. Factsheet ] [ Application for Company ] [ Private Trust Company ] [ Nevis: Country Profile ] [ Nevis Annual Renewal ] [ Nevis Public Holidays ]
legislative source |
public information | private
information | incorporation |
taxes and duties | advantages
& disadvantages
Nevis
Business Companies Ordinance (1984) - Revised 2002
| Status: |
Corporations are registered at the office of the Registrar of
Companies, as a legal entity.
|
| Available: |
All information contained in the
Articles of Incorporation, which are filed at the
Registrar's Office (as well as any amendments thereto) are
available to the Public. This includes all of the details
indicated below. |
| Name: |
The name must include a word or ending which indicates that it
is a Corporation, such as Ltd., Inc., Corp., S.A. or AG
(Limited, Incorporated, Corporation, Society Anonyme, Sociedad
Anónima, Aktiengesellschaft).
It
may be in any language, but must be in the Latin Alphabet.
However, it is also permitted to include the translation (in any
other script, of the name in another language).
|
| Authorised Capital: |
This is the aggregate of the par value of all shares with par
value that the company is authorised to issue, and the amount
(if applicable) of the shares of no par value. The shares
may be issued in any currency.
Shares may be issued in classes and/or series, with such
designations, powers, preferences and rights, qualifications,
limitations or restrictions as may be established in the
Articles of Incorporation.
Standard Capital of a company in Nevis is US$100,000.00 divided
into 100,000 shares of $1.00 each. |
| Incorporators> |
The Articles of Incorporation should be subscribed to by any
person, whose name and address will appear in the Articles of
Incorporation. |
| Registered Agent: |
The Corporation must have a
Registered Agent, which must be a licensed company in Nevis, or
a barrister or solicitor admitted to practice in Nevis (and
licensed to act as such). |
| Registered Office: |
The registered office will be
the office of the Registered Agent. |
| Shareholders: |
After the incorporators have transferred their subscription rights
(or not, as the case may be), the shares of the company are
issued by resolution of the Board of Directors. The shares may
be issued to any person (natural or legal). |
| Bearer or Registered Shares |
It
is possible for a Nevis NBCO to issue registered or bearer
shares. Registered shares are those which are issued to a
specific person (i.e. Tom Jones), whereas bearer shares are
simply issued to "the bearer", similar to how a dollar bill is
issued.
Please note, however, that Bearer Shares issued for a Nevis
Company must be held by the Registered Agent.
They are not freely held as previously. There is no
additional payment of Government Fees due to having Bearer
Shares, but the registered agent may charge a fee for the safe
custody of the same. |
| Board of Directors |
The names and addresses of the members of the Board of Directors
is not available publicly. |
| Composition of the Board: |
The Board of Directors may be composed of natural or legal
persons. Where the company only has one shareholder, the
company may have a single director. Nevertheless, the
company is required to have a minimum of three (3) directors
when the company has more than 3 shareholders. |
| Officers: |
The directors, by resolution,
may appoint officers of the company. The officers of the
company should be natural persons, except for the Secretary
which may be a company. The Company should have a
President or Managing Director or Treasurer, as well as a
Secretary. Any two or more offices may be held by the same
person (unless specifically prohibited by the Articles of
Incorporation or the Bylaws). |
| Bylaws |
The Company Bylaws are private,
and must be adopted upon incorporation by the Board of
Directors. They may be amended, repealed or adopted by
shareholders, as they see fit. If the Articles of
Incorporation so provide, the Directors may amend or repeal
Bylaws. |
| Minutes: |
All minutes from meetings are
privately held by the Shareholders or Directors, and do not need
to be filed at the Registrar's office, unless the Minutes include
some amendment to the Articles of Incorporation, in which case
an extract of the relevant part of the amendment must be filed.
|
| Records: |
All financial records and other
corporate books are completely private. |
| Time: |
A corporation takes approximately 1-2 days to
establish through the Companies Registrar. |
| Shelf Companies: |
It is possible to establish and hold
shelf
corporations, but the board of directors will be Koru's
nominee directors, rather than directors appointed by the
client. These can be changed through a simple resolution
of the existing Board members. |
| Tax Registration: |
Tax registration in Nevis is
not required.
|
| Seal: |
Optional. |
| Travel to Nevis: |
It is not necessary to travel to
Nevis in order to complete incorporation. But clients are
required to provide full due diligence as well as fill in an
application form. |
| Capital Duty: |
There is no Capital Duty payable on the
NBCO, although annual renewal fees are charged. Unlike
other jurisdictions, the government fees are NOT based on the
Company's authorised capital. |
| ARF: |
Every year the Corporation must pay the
Annual Renewal Fees. |
| Tax Returns: |
Nevis IBCs are not required to
file annual tax returns. |
| Beneficial Owners: |
Any person (natural or legal, minor or of legal age) may be a
beneficial owner of a Corporation, even if they are a minor. It
is also possible to issue the shares of the Company to a
Foundation or Trust, or to another corporation. |
| Perpetuity: |
It is possible to establish a Corporation
with no end date, so that it is perpetual. |
| Liability: |
Limited liability - according to the
Authorised and Issued Capital of the corporation. If the
company has only issued $10,000.00 of shares, the liability of
the shareholders is only to have paid in this $10,000.00. The
shareholders are therefore only liable for unpaid capital.
|
| Business Purpose: |
A company incorporated in Nevis may have any object or
purpose not prohibited under the Ordinance or under any other law
for the time being in force in Nevis. |
| Annual Meeting: |
A company incorporated in Nevis must have an
annual meeting of the Shareholders. This may be held in any part
of the world, and resolutions may be adopted by unanimous
consent, without a meeting. |
For more information regarding Nevis Companies and our services, please
contact us.
[ Nevis LLC Factsheet ] [ Nevis Co. Factsheet ] [ Application for Company ] [ Private Trust Company ] [ Nevis: Country Profile ] [ Nevis Annual Renewal ] [ Nevis Public Holidays ]
Last modified
17-Oct-2007 20:18 -0400
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