Nevis

Population:

11,400

Currency:

Eastern Caribbean dollar; EC$2.70 = US$1 (mid-2005, fixed rate)

Language:

English

Time zone:

GMT minus 4

Centre's expertise:

Ambitious with IBC legislation based on Delaware; broad-based products and secrecy guarantees

General requirements

Type of entity

Nevis Limited Liability Company (LLC), IBC, plus offshore banks, exempt trusts, mutual funds, insurance, Nevis Foundation

Type of law

English Common Law

Shelf company available

IBCs only

Time to establish a new company

24 hours

Taxation

Nil

Double taxation agreements

UK only

Forex restrictions

None

Language & name restrictions on companies

English characters only

Share capital

Permitted currencies

US dollars

Minimum paid up

None (IBC's only)

Usual authorized capital

n.a. (IBC's only)

Directors and personnel

Minimum number

3

Local required

No

Company secretary & qualifications

Yes, none specified

Shareholders and AGM

Minimum number

1

Disclosure requirements

None

Publicly accessible records

Only articles of incorporation, name of registered agent

Obligations for annual meetings

Yes

Location of AGM

Anywhere

Accounts

Requirement to prepare

None

Audit requirements

None except annual audits for insurance companies & mutual funds

Account filing obligations

None

Publicly accessible accounts

None

Other

Requirements to file annual return

No

Change in domicile permitted

Yes

Need to registered office

Yes

Number of companies set up in last year

2,800

Total number of companies on register

16,000