Nevis LLC Features

Nevis LLC Share Capital:

A Nevis LLC does not issue shares. During the incorporation of Nevisian LLCs, capital is accumulated by contributions that are made. For this reason the persons (individual or business entity) who make capital contributions to the Nevis LLC are not called shareholders and are referred to as members. Capital contributions towards Nevis LLC incorporation may be in the form of cash, services, promissory notes for contributions at future dates or property. Unless a promise of capital contribution by a member is given in writing and signed such promise is unenforceable.

Limited Liability:

The liabilities of each member of a Nevis LLC are limited to the contributions they would have made to the LLC.

Nevis LLC Naming:

The name of an LLC formed in Nevis must be unique and approved by the registrar. Reserved names are issued with a Certificate of Name Reservation, upon which time the said name will be protected for 120 days. Nevis LLC incorporation names must end with any of the following: L.C., LC, L.L.C., or LLC.

Nevis LLC Purposes:

Nevis LLC incorporation allows for an LLC to be established for any business purpose that is deemed lawful both in Nevis and the countries where business is intended to be carried out.

Powers:

Nevis LLCs are legal persons and are granted the same powers as a natural person. Upon incorporation, Nevis LLCs are given the ability to pursue any business venture or action which serves its best interests. The liabilities and obligations of a Nevis LLC are separate from those of its members. But, a member may assume responsibility for any of the debts belonging to the LLC.

Licensing:

After having formed or when forming a Nevis LLC, special licenses are to be requested before carrying out certain types of business activities which necessitate special authorization or permission from the relevant government authorities.

Nevis LLC Service Provider:

When forming a Nevis LLC a registered agent must be appointed. The registered agent of a Nevis LLC must be a locally practicing lawyer or a business entity with a paid-in capital of at least $500,000. A registered agent may resign as the local representative of an LLC provided that the resignation is mailed to an address where the members of the LLC can be reached and two copies of the notice are submitted to the Registrar of Companies.

Registered agents are responsible for receiving any service of process that may be mailed or addressed to the LLC.

Nevis LLC Fees and Taxation

Annual Fee:

Nevis LLCs are to pay an annual fee to the Minister of Finance.

Taxation:

Nevis LLCs are not burdened with any income tax, exchange controls, stamp tax, withholding tax or asset tax. Taxes are not levied based on the fact that following its incorporation a Nevis LLC opens a local bank account, keeps it general and financial records in Nevis, makes capital investments in other Nevis companies or locally establishes an administrative office for business ventures occurring outside Nevis.

Nevis LLC Accounting

Books and Records:

Nevis LLCs have no obligations to maintain books or records in Nevis or anywhere else in the world for that matter.

Nevis LLC Winding-up:

Nevis LLCs may be wound up upon the occurrence of an event or after a specified period of time. The terms and conditions for dissolving a Nevis LLC must be stipulated in the operating agreement and consented to by all members.

 

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