St.Kitts and Nevis Offshore Company Formation

Legal form: The most popular form of business used by international investors is Nevis LLC. Offshore LLCs in Nevis are incorporated under the Nevis Limited Liability Company Ordinance Act of 1995 and amendments, and privacy is protected by the Confidential Relations Act of 1985. An LLC incorporated under this Act may engage in any legal business. A license is required to engage in the business of banking, insurance, assurance, re-issuance, fund management, collective investment schemes or any other activity which is associated with the banking or insurance business. A company incorporated in Nevis has the same powers as a natural person.  

Offshore LLC is a corporate vehicle designed primarily for sole proprietors or business partnerships. A partner (member) of an LLC is not personally liable for the debts or liabilities of the LLC. Each member's liability is limited to the amount of capital that such member has contributed to the LLC. A member's profit and remuneration is governed either by the member's ownership in the LLC or by unanimous agreement amongst the members of the LLC.  

Name of the company: The name of a company must end in one of the following: "Limited Liability Company", "LLC", "L.L.C.", "LC" or "L.C." Names requiring consent or a license are: banks, building society, savings, loans, insurance, assurance, re-insurance, fund management, investment fund, municipal, Chamber of Commerce, University or their foreign equivalents.  

Memorandum and Articles of Association: The operations of the LLC are governed by the Operating Agreement. The Operating Agreement is drafted by and agreed to by the members and it can be as simple or as comprehensive as they desire. Limited Liability Companies may amend their Articles of Association, merge or consolidate with other domestic or foreign Limited Liability Companies or other business entities. Foreign Limited Liability Companies or other business entities may transfer domicile to Nevis.  

Members: A minimum of one member is required which may be an individual or a corporate body. Limited Liability Companies have no limitation on the number of members. Members of Limited Liability Companies may assign their interests to other parties unless restricted otherwise. Since the beneficial owners and/or managers are not registered anywhere an LLC provides complete anonymity.  

The share capital: Limited Liability Companies face no stock limitations and can issue preferred interests analogous to preferred stock of corporations.  

Management of the company: Management of the LLC is vested in the members of the LLC, in proportion to their ownership, or as otherwise agreed amongst the members. A member of the LLC may be appointed to manage the LLC or an outside Manager may be appointed. The members of the LLC may themselves draft and agree upon an Operating Agreement. Minimum number of managers is one. There are no residency requirements for the managers. Corporate managers permitted.  

Registered office and local agent: Nevis LLC must have its registered office and registered agent in Nevis.  

Taxation: No corporate tax, income tax, withholding tax, stamp tax, asset tax, exchange controls or other fees or taxes are levied in Nevis on assets or income originating outside of Nevis.  
Audit and financial returns: Whilst there is no requirement to file audited accounts or annual returns with the authorities, a company is required to keep financial records, which should reflect the financial position of a company. The company's records may be located anywhere in the world.