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Nevis LLC

Nevis LLC

General Information

Nevis is located in the Northern part of the Leeward Islands in the Eastern Caribbean, 210 miles east of Puerto Rico and 1,100 miles from Miami, with a population of approximately 10,000.

Nevis is part of the twin island Federation of St. Kitts and Nevis and was formerly a British colony which became independent in 1983.

Nevis has a democratic government based upon the British Parliamentary system.

Nevis enjoys a stable and secure economy based mostly on tourism, an untarnished international reputation, and a government whose watchwords are quality, innovation, and integrity. 

The official language is English and the currency used is the Eastern Caribbean Dollar.

Highlights of Nevis LLC´s

The Nevis Limited Liability Company (LLC) is a business entity that provides an alternative to those who might not consider using corporations or partnerships. The Nevis LLC is governed by the Nevis Limited Liability Company Ordinance, 2017.  The owners of the Nevis LLC’s are referred to as members, who may be thought of in the same way as the partners in a partnership or the shareholders in a corporation.

Confidentiality

The beneficial owners and/or managers of the Nevis LLC have not registered anywhere and they are not required to file any reports in the public records of the island either.

Nevis has strict privacy-oriented laws that forbid any disclosure of managers and members, therefore, their anonymity is guaranteed and their identities are not accessible by any outside party.

Corporate Requirements

Name:  The name of a company must end in one of the following: “Limited Liability Company”, “Limited Company” “LLC”, “L.L.C.”, “LC”, “L.C.” or “GmbH”. 

A name can be in any language that uses Latin or any other alphabet. 

The Registrar will request an English translation if a foreign language name is used. 

Any name that is identical to or similar to an existing company may be prohibited.

Members: There is no minimum of members (owners) required for LLC’s. Sole members are permitted.

Members of Limited Liability Companies may be individuals or business entities of any nationality or domicile.

LLC members may assign their interests to other parties, unless otherwise restricted. 

Management: Management of the business and affairs of the Limited Liability Companies may be accomplished either by managers exclusive of the members or by all of the members in their capacity as members.

Limited Liability Companies are solely liable for their own debts, obligations, and liabilities.

Articles of Organization: A Nevis LLC is formed by filing Articles of Organization with the Public Registry.

Operating Agreement:  The Company’s operation and the rights among the members and managers are outlined in this agreement.

Registered Office / Agent: All LLC’s incorporated in this jurisdiction are required to maintain a registered agent and a registered office in Nevis at all times.

Books: The books may be kept anywhere in the world.

Annual Requirements

Corporate Income Tax Return [ CIT -101]: Starting from August 2020, St. Kitts and Nevis Inland Revenue Department (”IRD”) introduced a regulatory initiative in which Nevis entities will be required to file a Corporate Tax Return (CIT-101  Return)  with the IRD.

This regulatory initiative was launched as a response to ongoing projects by the European Union and the Organization for Economic Cooperation and Development around fair taxation which have affected a number of international financial centers in recent years.

The CIT-101 Tax Return shall be completed by all St. Kitts Exempt companies, Nevis BC’s and LLC’s. 

They are required to report whether or not they have tax residence in SKN (if directors are resident in Nevis, or if the company operates within SKN)

The filing shall be submitted through the CIT-101 IRD Portal either by the registered agent or by the entity itself.

This does not preclude OMC Group as a registered agent from filing on behalf of our registered entities.

There is an annual renewal fee of US$250 payable to the Nevis Island Administration. 

Failure to pay the annual fee on time will result in government penalties which range from US$115 to US$250.

Due DateUS$115 Penalty
TOTAL US$365
US$250 Penalty
TOTAL US$500
Strike Off Date
Due on the anniversary of the incorporation date and must be paid within one month of that date.When payment of the annual renewal is made more than one month but less than six months from the anniversary date.When payment of the annual renewal is made more than six months but less than 12 months from the anniversary date.When payment of the annual renewal is not made within one year of the anniversary of incorporation.
*Disclaimer
Information contained in this publication does not constitute any kind of advice on any particular matters and should not be considered as such. 
OMC Group accepts no responsibility for clients’ decisions. LR_MR_0421

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