The benefits of using a Nevis International Business Company for wealth planning and international investments

Saint Kitts & Nevis (“Nevis”) is a prestigious financial center that complies with international standards on tax and financial matters. Also, it offers a favorable political and economic environment because it is part of the British Commonwealth, and is recognized by international organizations such as the OCDE and the Financial Action Task Force (FATF).

The Nevis International Business Companies (“IBC”) may be used for wealth planning, tax planning, asset protection, investment management, and as a holding company. However, these kinds of companies cannot execute business within the Nevis territory nor can it carry out real estate development, banking, insurance or investment funds activities.

The IBC offers the following benefits:

• IBC business can be executed outside the Nevis territory, in other words, there is no need to have a real presence in the island.
• The individuals who act as directors, shareholders or other officers do not need to be Nevis residents.
• Companies or trusts can act as directors, shareholders or other officers.
• Nevis does not maintain a public registry of shareholders, officers or ultimate beneficial owners, even though it belongs to the group of countries that apply the OCDE’s Common Reporting Standard (CRS).
• The IBC does not levy income obtained abroad. Also, it is exempted from all taxes within Nevis, such as income tax, assets tax, gift tax, inheritance tax, capital gains tax, tax on dividends distribution, and stamp tax.

Image: Tim Gouw