 OVERVIEW  This 36 square mile island is located in the chain of Leeward Islands of the Caribbean, some 1200 miles southeast of Miami and 225 miles southeast of Puerto Rico. In 1983 St. Kitts and Nevis gained independence from Britain, but remained independent members of the British Commonwealth. Several major airlines service the region and provide excellent links to Puerto Rico. Tourism remains the primary economic influence on the island, supplemented by a growing offshore financial industry. During the last decade Nevis has emerged as an attractive sanctuary for offshore financial services. BANKING AND COMMUNICATIONS Nevis has a strong banking system consisting of several major institutions. Local laws assure complete confidentiality of banking and financial records. The official currency is the Eastern Caribbean Dollar which is pegged to the US Dollar. Foreign exchange transactions can, however, be made in any currency. There is no exchange control in Nevis. Telecommunications are state of the art and all major courier companies service the island. LAW AND TAXATION The legal system is based upon the English Common Law. There is a High Court and a regional Court of Appeals. The ultimate appellate court is the Privy Council in London. Nevis provides a friendly tax environment including exemption for offshore companies, limited partnerships and trusts from any tax. THE FINANCIAL CENTRE Nevis began as an offshore financial jurisdiction in 1984 with the enactment of Nevis Business Corporation Ordinance. It has since developed to meet the increasing demands of the international financial community. Nevis now offers a wide range of modern, well-planned legislation including limited liability companies, international asset protection trusts and offshore banking. The Nevis Government is committed to the continued development of the offshore financial sector and is constantly looking for opportunities to enhance the jurisdiction. Why Nevis?
protection and exemption from income, corporate, gift, withholding, estate, asset, inheritance, succession and stamp taxes. • State of the art limited liability company legislation • State of the art trust legislation • Strict laws assuring complete confidentiality of banking and financial records • Freedom from exchange controls • Legal system based on English Common Law • Independent member of the British Commonwealth • Stable, proactive Government which encourages development of the offshore financial sector and is constantly looking to enhance jurisdiction • Ease of transfer of domicile of corporation and administration of offshore companies |
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