A Nevis LLC is a legal entity that has been established under the Nevis Limited Liability Company Ordinance. Nevis is an island located in the Caribbean Sea that comprises a portion of the Federation of Saint Kitts and Nevis. A limited liability company combines many of the lawsuit protection advantages of a corporation with the asset protection provisions of a limited partnership in a single legal tool. If you are looking for information, tips, and helpful hints about asset protection and you want a low cost method of protecting and sheltering money as well as gaining financial privacy, expert research and experience shows that a Nevis Limited Liability Company and offshore bank account may be a favorable solution.
Nevis was the first offshore tax haven to enact LLC statutes. The statues greatly enhance this protection with the outstanding privacy advantages.
Nevis LLC Offers Outstanding Privacy
In a LLC statutes in Nevis the owners and managers are not registered anywhere, which provides for complete secrecy.
Nevis has strong privacy laws to prevent the registration, filing or disclosure of directors, shareholders of a Nevis Corporation or members or managers of a Nevis LLC. Therefore, there are not any initial or annual director filings in Nevis. Thus, the identity of the owners and managers are not attainable by any outside agency short of serious criminal activity such as drug-related issues and terrorism. Therefore Nevis limited liability companies offer greater privacy than those of any country in the world.
You may locate your company records in any location on the globe.
Asset Protection Benefits
A Nevis LLC allows you to shield your assets from lawsuits, agencies, and financial creditors.
Owners are shielded from legal liability.
Owners can manage the company without becoming liable for company financial obligations or legal liabilities.
One big benefit is that it has members rather than shareholders. Therefore, there are not any shares that can be seized by a court of law.
Moreover, members are not legally responsible for company obligations.
List of Nevis LLC Benefits
- A creditor must post a $100,000 bond prior to filing legal documents to enforce a judgment against one’s interest in a Nevis LLC.
- The statute of limitations for fraudulent transfer is only two years. So, when you transfer assets into a Nevis LLC, two years later the courts will decline to hear the case.
- A creditor needs to show beyond a reasonable doubt that the member transferred assets to the company in order to delay creditors.
- Asset protection preventing a creditor from seizing the company or the assets inside is available to single-member as well as multi-member LLCs.
- Any charging orders against a member’s interest in the company fall away after three years and are not renewable.
- A manager can have 100% control of the company.
- The manager of the LLC does not need to have any ownership and yet can control the entire company and all of its assets.
- The company can have as many members as one desires.
- Any person or company can own the entity.
- Nevis does not impose corporate tax, income tax, withholding tax, stamp tax, asset tax, exchange controls or other fees or taxes on assets or income originating outside of Nevis.
- Members of LLCs may be individuals or business entities of any nationality or domicile.
- Members may amend their Articles of Organization, merge, or consolidate with other domestic or foreign LLCs or other business entities.
- Members of the offshore company may assign their interests to other parties unless restricted otherwise. Nevis permits single member LLCs.
- Management of the companies may be by the members or by managers designated by the members.
- There are no stock limitations and can issue preferred interests analogous to preferred stock of corporations.
- It is an excellent vehicle if used by a group of investors for a joint venture investment. In this respect it functions as if it was a Limited Partnership, but with all the added liability protection features and advantages of a corporation.
- It can be set up within 24 hours and has low initial cost and low annual fees.
The beautiful Nevis Four Seasons Resort
LLC vs. Corporation:
The primary distinction between an LLC and a “normal” company such as a “C” corporation (USA) or a PLC (United Kingdom), is that the LLC is a tax-neutral vehicle because it is taxed as a partnership, rather than as a corporation. Thus, using an LLC can eliminate tax at the corporate level. In this regard, it is somewhat like a U.S. “S” corporation or a German GmbH but without all the restrictions and disadvantages. So if the LLC itself has no tax payment obligation – then who does? The obligation for any taxes that would otherwise be owed by the company bypasses the company itself and attaches directly to the members. Members are to LLCs what shareholders are to corporations. Other companies, as well as individuals and trusts, can be members of an LLC. There are no limits on the number of members or the classes of members that an LLC may have. The important issue is that each member is responsible for his, her or its own pro-rata share of any overall tax obligation, if any, and that the LLC itself has no tax obligations.
LLC as an alternative or in addition to a Trust
Because of the flexibility available in LLC management structuring and because of the favorable way in which the laws of Nevis are drafted, this type of entity can also be used as alternatives to or in addition to an asset protection trust. The manager of the LLC is somewhat akin to the trustee of a trust and the members are akin to the beneficiaries of a trust. OffshoreCorporation.com can act as a nominee manager of an LLC on behalf of a client who desires to take advantage of our corporate management services.
Substituting an LLC for a trust can change the reporting requirements of taxpayers in onshore jurisdictions. The income or capital gain of an LLC is not reportable as trust income or gain or as corporate income or gain but is treated as personal income (as in the US or UK) or gain or is non-taxable, depending upon the jurisdiction in which the owners reside.
Multi-National Joint Ventures:
LLCs are excellent vehicles for structuring joint venture arrangements between project participants from different countries. This is so because the venture can enjoy all of the benefits of incorporation, but each member is liable for his own taxation in his own country. Moreover, the membership flexibility allows different joint ventures to have different levels of ownership and reward based upon the value that each constituent member brings to the project.
All Nevis LLCs are free from all forms of Nevisian taxation. There are no Nevisian taxes on dividends, income, capital distribution, or wages whatsoever. Moreover, unlike many onshore jurisdictions, Nevis does not tax an LLC for accumulated (but undistributed) earnings.
All of the affairs of the LLC are private and cannot be disclosed except under truly exceptional circumstances such as links to international terrorism. The only document that needs to be filed with the government is the annual corporate license and this contains minimal information. There is no annual report or annual financial return that needs to be made to the government. There is no public inspection of your LLCs’ records. Confidentiality is further enhanced if the LLC appoints our company as manager and we perform the minimal corporate duties required under Nevisian law.
Nevisian LLC laws contain many requirements related to confidentiality including strict financial secrecy laws. Strict legal requirements, known as fiduciary duties, would also govern the behavior of Offshorecorporation.com as a manager of an LLC. These fiduciary duties are imposed on managers by both the equivalent of the LLCs bylaws and by the proper law of the LLC (usually the law of the country where the manager is located).
Many of these fiduciary requirements relate to secrecy and accounting obligations by which the manager must abide. Nevisian LLC law prevents your company formation specialist from discussing your business with anyone to which you have not instructed us to speak.
Others cannot force your company formation specialist to discuss your business with anyone unless they obtain a court order against you or your specialist or both ordering a disclosure to be made. But a court order from their respective jurisdiction is useless in Nevis. In accordance with strong Nevisian law, a judgement from outside of Nevis will not be recognized by Nevisian courts. This means an onshore judgement creditor who won a lawsuit against you or your LLC in, for example, the U.S., UK, Canada or Germany cannot take that foreign judgement and require a Nevisian court to enforce it.
In addition to not recognizing the judgements of other countries, Nevisian law and Nevisian courts do not favor the granting of court orders against LLCs except under truly exceptional circumstances. Nevisian law favors upholding the independence and application of its own law over the enforcement of foreign, onshore laws.
Offshore Bank Account:
Your offshore company should own your offshore a bank account. Offshorecorporation.com (a division of Companies Incorporated) has been in business since 1977 and has relationships with large, safe and convenient offshore banks.
You can access your money conveniently via offshore debit card, check and bank wire transfer. Offshorecorporation.com can also establish a bank account that gives you online access to your money 24 hours per day.
Rather than the usual $3,000 US to $5,000 US for an offshore company, a Nevis LLC is only $1585 US.
An offshore bank account is only $550 US.
The total for the Nevis LLC plus offshore bank account is only $2135 US.
We highly recommend the Nevis Office Program which gives you a Nevis office address with mail forwarding, a shared telephone number answered by a live receptionist, and a Nevis fax number. For extra legitimacy and privacy, you can place your Nevis Office Program address, telephone number and fax number on your website and on company letterhead. The Nevis office program can be added for only $995 US. View our Nevis Virtual OfficeComplete Management Package
FREE Consultations on offshore business formation, and asset protection from lawsuits.
I learned a lot about how exposed I was to lawsuits and judgements, I protected my wealth with several instruments.
- J.P. Dumini
I’ve learned that nobody wins in a lawsuit, the only way to ensure that you don’t lose, is to have something in place when you need it.
- J.M. Ansen, Los Angeles