Enacted in 1984, with subsequent amendments, the Nevis Business Corporation Ordinance is modeled on Delaware corporate statutes. The language is clear, easy to understand and was drafted with the needs of the modern investor as a foremost consideration. The advantages of using the Nevis Business Corporation for tax exempt investment and asset protection can be summarised as follows:

Shareholders, Directors and Officers may reside anywhere in the world and be of any nationality. Their meetings may also be held anywhere in the world. There are no Nevis residency or nationality requirements.

Directors and shareholders may be corporations. In the case of officers, Section 58(i) of the Ordinance states:

“Every corporation shall have

(i) a president and treasurer, or a managing director, and

(ii) a secretary, who shall each be appointed by the board or in the manner directed by the articles of incorporation or the by-laws. Such other officers shall be appointed as are required by the articles or the by-laws or as the board may determine are desirable or necessary to carry on the business of the corporation. All officers shall be natural persons except the secretary which may be a corporation.”

Nevis Business Corporations are totally exempted from taxation in the jurisdiction. Under present regulations there are no income taxes, estate taxes, corporate taxes, withholding taxes or exchange controls in Nevis attaching to them.

There are no requirements for the filing of annual reports with any government authority. A Nevis Business Corporation is entitled to complete privacy with regard to its legitimate affairs.

Proxy Holders and Alternate Directors are permitted.

Bearer shares are permitted but a recent amendment to the Nevis Business Corporation Ordinance requires that:

– record must be maintained by the company’s Registered Agent of each bearer share certificate issued by the corporation; and

– the Registered Agent (or another approved Nevis-based custodian) must maintain custody of the bearer share certificate on behalf of the beneficial owner.

The authorised share capital of the Nevis Business Corporation may be denominated in any recognized currency.

The identity of beneficial owners and shareholders are not required to be filed in any public record or, except in the case of licensed companies, government office. Similarly, changes in beneficial ownership or shareholdings are confidential.

The government annual renewal fee is among the lowest in the world.

The Nevis International Business Corporation Ordinance provides for Normal and Emergency Transfer of Domicile to Nevis from anywhere around the globe.

Amendments to the Articles of Incorporation, mergers or consolidations with foreign corporations can be carried out with a minimum of bureaucratic interference enhancing efficiency and reducing costs.