ST. KITTS & NEVIS BUSINESS COMPANY
PROCEDURE TO INCORPORATE
By submission of the Articles of Incorporation to the Registrar of Companies, together with the appropriate fee.
RESTRICTIONS ON TRADING
A Nevis company incorporated under the Business Corporation Ordinance 1984 may not trade within Nevis, or own real estate there. A company incorporated under the said Act may not engage in the business of banking, insurance, assurance, reinsurance, fund management, collective investment schemes or any other activity that would suggest an association with the banking or Insurance industries.
POWERS OF COMPANY
A company incorporated in Nevis has the same powers as a natural person.
LANGUAGE OF LEGISLATION AND CORPORATE DOCUMENTS
English.
NAME APPROVAL REQUIRED
Yes.
SHELF COMPANIES AVAILABLE
Yes.
TIME TO INCORPORATE
Two days, but allow five days for delivery of documentation.
NAME RESTRICTIONS
Any name that is identical to or similar to an existing company. Any name that in the opinion of the Registrar is undesirable or suggests an illegal activity or any name that may imply government patronage.
LANGUAGE OF NAME
May be in any language that uses the Latin alphabet. The Registrar may request an English translation if a foreign language name is used.
NAMES REQUIRING CONSENT OR LICENCE
Bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, municipal, Chamber of Commerce, university or their foreign language equivalent.
SUFFIXES TO DENOTE LIMITED LIABILITY
Limited, Company, Corporation, Incorporated, Sociedad Anonima, Gesellschaft mit beshränkter Haftung or their abbreviations.
DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES
None.
SHARE CAPITAL, TAXATION, LICENCE FEES AND COMPLIANCE MATTERS
AUTHORISED AND ISSUED SHARE CAPITAL
Normally the authorised share capital is either 1,000 no par value shares or US$ 100,000 par value shares. The minimum issued capital is one share of no par value or one share of par value.
CLASSES OF SHARES PERMITTED
Registered shares, bearer shares, preference shares, redeemable shares and shares with or without par value.
BEARER SHARES PERMITTED
Yes.
TAXATION
A Nevis offshore exempt company is exempt from local taxation.
LICENCE FEES
There is an annual registration fee of US$ 200 payable to the Minister of Finance.
DOUBLE TAXATION AGREEMENTS
Although Nevis does have double tax agreements, a company incorporated under the Nevis Business Corporation Ordinance 1984 cannot obtain any treaty relief through them.
FINANCIAL STATEMENT REQUIREMENTS
Whilst there is no requirement to submit or file audited financial statements, a Nevis company is required to maintain financial records to reflect the financial position of the company.
STRUCTURE OF MANAGEMENT
DIRECTORS
The minimum number of directors is three if the number of shareholders is three. If fewer than three, the number of directors may be equal to the number of shareholders. The directors may be natural persons or bodies corporate and may be of any nationality and need not be residents of Nevis.
COMPANY SECRETARY
A Nevis exempt company must appoint a company secretary, who may be a natural person or a body corporate may be of any nationality and need not be resident in Nevis.
SHAREHOLDERS
The minimum number of shareholders is one.
Basic Features of a St. Kitts and Nevis Business Company
Type of Company: NEVIS BUSINESS COMPANY
Minimum number of Shareholders: 1
Minimum number of Directors: 1
Bearer Shares Allowed: YES
Local directors required: YES
Standard Authorized Capital: US$100,000.00
Audited Accounts Required: NO
Incorporation time: 2 WEEKS
Basic Costs of a Nevis Company
Incorporation cost: US$600.00
Domiciliary service fee: US$600.00
Government fees: US$250.00
Basic First Year Costs: US$1450.00
Basic 2nd and Subsequent Yearly Fees: US$775.00
Power of Attorney Fee: US$200.00
Annual Fee for the Provision of Corporate Nominee Directors when Required: US$350.00
Annual Fee for the Provision of Corporate Nominee Shareholders when Required: US$350.00
