International Financial Services Legislation

The international financial services sector commenced in earnest in Nevis in 1984. During the course of the ensuing years, the Nevis Island Government expended a considerable amount of time and other resources aimed at developing recognised expertise in the financial services sector. The resulting effect is that Nevis has become known as a viable, vibrant and reputable jurisdiction from which to incorporate international business companies, set up limited liability companies, register international exempt trusts and establish offshore banking institutions.

ENHANCED COMPETITIVE POSITION

The initiatives undertaken by Nevis over the years have resulted in Nevis being recognised as a predominant jurisdiction with many competitive advantages. Of notable mention are the following:

A stable Government based upon the Westminster model of Government and continuity of national policy.

A stable and secure economy with a strong currency.

A favorable time zone location.

Easy accessibility to Europe and North America.

Temperate climate.

World-class accommodation facilities.

A solid reputation with the commitment to having a proper regulatory regime.

World class cutting-edge legislation.

Over 50 highly qualified trust and asset management companies, registered agents and other service providers with expertise in law, accounting, banking, taxation & finance.

A wide range of developed support services, such as state-of-the-art telecommunications facilities, professional and competent attorneys and accountants and a range of local, regional and international banking institutions.

A newly renovated airport including a longer runway, a modern tower and a new terminal building.

A population with a 98% literacy level.

An adaptable and trainable workforce.

Easy registration of companies and large availability of names.

No personal income taxes.

Exemption of offshore companies from income, social security, capital gains, with-holding, gift, estate and succession taxes.

The granting of tax holidays, concessions and exemptions to qualified companies under the Fiscal Incentives Act.

Reasonable incorporation and annual renewal fees.

A jurisdiction whose watchwords are quality, innovation and integrity.

NEVIS INTERNATIONAL FINANCIAL SERVICES LEGISLATION

The four major pillars of the Nevis international financial services industry are the Nevis Business Corporation Ordinance, 1984 (NBCO); the Nevis International Exempt Trust Ordinance, 1994 (NIETO); the Nevis...