Nevis Offshore Foundations

Nevis Multiform foundations were introduced in the offshore tax haven of Nevis in October of 2005. The Nevis Multiform foundation as its name suggests can be treated as different business entities; a company, partnership, trust, Limited Liability Company or a normal foundation. Nevis Foundations are incorporated according to the stipulations of the Nevis Multiform Foundation Ordinance.

A Nevis Multiform Foundation presents many advantages over an ordinary Nevis Foundation. A Multiform Foundation can be used as different types of business entities such as a trust, Limited Liability Company or a foundation all of which provides maximum asset protection in the offshore tax haven of Nevis. Nevis trust and limited liability company legislation provides protection for assets placed in these business entities. In addition to asset protection Nevis Multiform foundations can also be used for doing business operations, estate planning and as charitable establishments.

Nevis foundations can benefit from zero taxes if the foundation does no business within the jurisdiction. A Nevis Multiform foundation with no business operation in Nevis (a foundation offshore) will pay no local income tax, no capital gains tax and no corporate tax. A Nevis foundation is only liable to pay a yearly fee license fee. A Nevis foundation may choose to pay taxes in the jurisdiction and the taxes for such Nevis Foundations are normally set at 1% of the annual net income of the Nevis multiform foundation. Nevis foundations which opt to become tax residents of the jurisdiction must also submit its audited accounts to the tax authorities in Nevis.

Setting up a Nevis Foundation is a process which is completed at ease. A registered agent must be hired when forming a Nevis Multiform Foundation. This person must be a resident of Nevis and is responsible for putting the relevant documents to be submitted to the Registrar of companies together. A Memorandum of Establishment must be prepared on behalf of the Nevis Foundation for filing with the Registrar of Companies with the following information:

  • The name of the Nevis foundation
  • The name of the registered agent
  • The names of the persons who will serve on the supervisory board of the Nevis Foundation
  • The names and addresses of the persons who will become the management board of the foundation
  • The name and address of the foundation secretary
  • A statement must be issued claiming that the Nevis foundation is a multiform foundation otherwise it will be treated as an ordinary Nevis foundation
  • It must be stated of the Nevis Foundation will be a tax resident
  • The bylaws of the foundation

A Nevis Multiform foundation is a very innovative form of company which can be used for making financial investments, business operations and as well as for asset protection which can help prevent forced heirship among others. The assets and capital placed in a Nevis Multiform Foundation are protected from foreign legislation and court orders. All information regarding Multiform Foundations and the beneficiaries of such entities is private information. The Confidentiality Ordinance of Nevis guarantees that the Multiform Foundation will receive privacy in the jurisdiction.

The offshore tax haven of Nevis also allows for foreign companies to incorporate as Nevis foundations. The introduction of the Nevis Multiform foundations has definitely helped the offshore jurisdiction move one step ahead of the competition by providing an offshore foundation option.
Nevis Multiform Foundation Used as A Foundation Offshore Pays No Tax
Nevis foundations more specifically Nevis multiform foundations can be used as an offshore foundation and pay no taxes. Nevis foundations are officially known as Nevis multiform foundations. Nevis foundations are called Nevis multiform foundations because they are foundations with multiform structure. A Nevis foundation can be a partnership, a trust or a corporation based on its purpose. A Nevisian foundation can change from being a Nevis foundation trust to a Nevis foundation corporation or a Nevis foundation partnership and after revert to being a Nevis foundation trust once again. A Nevis offshore foundation can move from a foreign jurisdiction into Nevis. A Nevis multiform foundation can also move out of Nevis to a foreign jurisdiction. A Nevis foundation, paying no taxes if it is a foundation offshore with no business in Nevis.

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A Nevis foundation must have a local agent. The agent of foundation in Nevis must be residing in Nevis. A Nevis foundation also supposed to have an office that is registered in Nevis. A Nevis foundation must prepare its memorandum of establishment. A secretary must be employed by the Nevis foundation for carrying out secretarial duties for the foundation in Nevis.