Nevis: A Top-Notch Destination for Company Formation

If you are looking for a country to set up a company that will operate in numerous states, you will hardly find a better option than an International Business Company (IBC) in Nevis, especially if you open a corporate bank account in this jurisdiction. This choice will make it possible for you to enjoy a benign taxation system, financial flexibility, and high-quality banking. What is more, Nevis is an excellent destination for asset protection, so your creditors will hardly get your assets even if they win a court case against you!

Nevis Company: Main Benefits

Here are the main advantages for entrepreneurs who set up their companies in Nevis:

• 100% foreign ownership. You are not required to be a citizen of Nevis to fully own a company here. What is more, if you are a sole owner, you can also be the company’s director.
• 0% tax rates. If your company generates 100% of your income outside Nevis, it will not be liable for any taxes whatsoever.
• High degree of confidentiality. Nevis does not provide public access to the information about managers, owners, and directors of the companies established in the jurisdiction.
• Management flexibility. If your company has only one owner, it can have just one director. More shareholders in the company (individuals or legal entities) require appointing at least 3 directors. There are no restrictions by country: the company’s managers, shareholders, and directors can be nationals of any state.
• Limited liability of shareholders. The liability is limited to the number of shares owned by each participant.
• No authorized capital requirements. There is no minimum authorized capital threshold you have to comply with. However, we recommend setting the limit to 10,000 US dollars for your company to be perceived seriously by your potential business partners.
• No auditing or reporting requirements. You will need to keep accounting records under the local standards, but you are under no obligation to submit them to any authority or have them audited. We strongly recommend that you properly keep your records as banks will analyze your financial documents very carefully and will not open an account for you if there are any issues.

Do you have any questions about a Nevis company? Do not hesitate to follow the above link and talk to an expert using a live chat – it’s free!

Documents To Be Filed

If you decide to set up an International Business Company in Nevis and open a bank account, you will have to prepare and submit the following documents:

• Proof of the legal origin of funds (for example, a bank statement).
• A reference letter from your current bank.
• A CV.
• A professional letter of recommendation (for instance from a lawyer or an accountant who has been your partner for some time, usually at least a year).
• A proof of residence address (a bank statement or a utility bill containing the name and address issued no more than 3 months ago).
• Duly filled out and signed Due Diligence and Order forms
• Copy of the applicant’s passport or other ID

All the documents have to be certified by a notary. If they are issued in a language other than English, you will also need to have them translated.

If everything goes as planned, your Nevis IBC will be incorporated within 5 to 10 working days following the submission of the required package of documents.

Opening a Bank Account in Nevis

Keep in mind that reputable banks do not shout about the opportunities of opening non-resident accounts as they don’t want to attract the excessive attention of regulators. There is nothing wrong or illegal in serving non-residents, but this activity is traditionally considered suspicious and subject to additional scrutiny.

What does it practically mean? Not all banks in Nevis are recommendable. But if you want to get professional advice on which bank to use, you’d better get in touch with an expert using the above link. The best offers are always communicated by word of mouth rather than widely advertised.

We are going to talk about one bank in Nevis that operates internationally and has correspondent accounts with such major banks as Deutsche Bank, Citibank, JP Morgan, and others. It is crypto-friendly, so companies dealing with cryptocurrencies are welcome. You can also open an escrow account here to carry out major transactions involving the sale/purchase of physical or digital assets.

Here are the account types offered by the bank:

• Corporate accounts
• Personal accounts
• Escrow accounts
• Private accounts

The bank will not open an account until you successfully pass the due diligence procedure carried out by a third party (the service costs USD 3,000). You will pay the amount if the bank approves your application.

The account setup procedure usually takes no more than 15 days. If you open a business account, you will have to make a minimum deposit of 100,000 US dollars payable within 5 days upon confirmation of the bank’s approval. You can use securities or fiat currency to satisfy this demand, and there are no minimum balance requirements.

The bank we are talking about has no account maintenance fee.

Please mind the limitations by country: your application will be turned down in 100% of cases if you are a national of Belarus, Russia, Ukraine, North Korea, Venezuela, Syria, or Iran.

Documents Required by The Bank

Let’s look at the documents you will have to submit to open a bank account in Nevis.

First of all, you will need:

• A duly completed and signed application form.
• A copy of the company’s consolidated annual financial statements.

The following documents have to be legalized:

• Proof of residence address
• Corporate Resolution on bank account opening
• Two recommendation letters from professionals
• Copies of the account’s signer’s personal IDs (two)
• Certificate of Incorporation
• Good Standing Certificate

Conclusion

If you feel that Nevis is exactly what you need, you can follow the above link to read more. The portal has a lot of useful articles on Nevis as this is a very popular destination for many purposes. However, we strongly recommend talking to an expert before you make a final decision as a customized solution (provided for free) is always better than the one based on a general description. We wish you luck with your business projects!