NEVIS
- LIMITED LIABILITY COMPANY
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With the enactment of the Nevis Limited Liability Company Ordinance (LLC),
the island of Nevis boasts the most state-of-the-art LLC legislation in
the world, aimed at solving many of the problems that perturb lawyers
and business persons using or hoping to use LLC's. The Nevis LLC is a
business entity that provides an alternative to those who might consider
using corporations or partnerships. It is analogous to limited liability
companies springing up throughout the U.S., to limited life companies
elsewhere in the Caribbean; to GmbH in Germany; to SARL in France and
to Limitadas in Latin America.
Principal
Corporate Legislation
NEVIS LIMITED LIABILITY COMPANY ORDINANCE, 1995
Type
of Law
Common Law, based on English Common Law with local modifications and
local statutes.
Type
of Company For International Trade and Investment
Limited Liability Company (LLC).
Restrictions
on Trading
Cannot trade within Nevis or own real estate there. Cannot undertake
the business of banking, insurance, assurance, reinsurance, fund management,
collective investment schemes, trust management, trusteeship, the rendering
of investment advice or any other activity that would suggest an association
with the banking or insurance industries. Cannot offer its shares for
sale to the public.
Powers
of Company
A Company incorporated in Nevis has the same powers as a natural person.
Language
of Legislation and Corporate Documents
English.
Shelf
Companies Available
Yes.
Time
to Incorporate
One day.
Name
Restrictions
Any name that has already been incorporated, or is so similar as to
cause confusion. Any name which in the opinion of the Registrar is considered
undesirable, obscene or offensive.
Language
of Name
Latin Alphabet. Any name in a language other than English must be accompanied
by a translation to ensure that the name is not restricted.
Registered
Office Required
Yes, must be maintained in Nevis at the address of a licensed management
company.
Names
Requiring Consent or License
Bank, building society, savings, loans, insurance, assurance, reinsurance,
trust, trustees, Chamber of Commerce, university, municipal or their
foreign language equivalents or any name in English or a foreign language
that may suggest association with the banking or insurance industries.
Suffixes
to Denote Limited Liability
Limited Liability Company or LLC.
Disclosure
of Beneficial Ownership to Government Authorities
No.
Taxation
An LLC does not pay any tax on its world-wide profits to Nevis authorities.
License
Fees
LLCs pay the sum of US$ 235 per year.
Managers
Minimum is one. Managers may be natural persons or bodies corporate
from any nationality and need not be Nevis resident.
Company
Secretary
A company secretary is not a requirement under the Act.
Members
Minimum is one.
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