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Nevis LLC: Main Advantages

Are you looking for a safe and reliable offshore jurisdiction to set up a company? Nevis is one of the destinations that should be considered first as it offers second-to-none asset protection opportunities. If this is your top priority, Nevis would be perfect. However, you are sure to appreciate all the other conditions that it offers to entrepreneurs from around the world. The company registration procedure is straightforward, no taxes are payable if you derive 100% of your profits abroad, and the fees of company setup and extension are affordable. The assets owned by Nevis LLC will be protected in the best way possible. You can follow the link to get more details and get in touch with an expert to ask any questions about Nevis or other destinations.

Nevis LLC: Main Benefits

Here are the advantages that are especially valuable about Nevis:

Organize your business to meet your requirements
Get convenient control over your company
The destination provides a strong and reliable legal framework that will help you keep your assets intact even if a creditor wins a lawsuit against you
Your personal details will not be disclosed
Register a Nevis LLC in a matter of 2 days, which is incredibly quick!
You may need some additional documents (for example, a set of apostilled corporate documents). In this case, the establishment may take longer (5 to 6 days), but it is still quite fast

Personal Data Safety

There are many jurisdictions across the globe where the information about the company’s beneficial owners must be accessible to the public. However, things in Nevis are different. Thus, no details about the company directors, managers, and owners will be disclosed to anyone. The only exception is the company’s registered agent who will keep the private data in a safe place. The agent can disclose them under exceptional circumstances, though, like a request submitted by a law enforcement agency.

Nevis LLCs or corporations are not required to submit annual tax reports to any authorities. However, the records have to be kept properly for other purposes, like opening an account with a bank. You can keep them anywhere in the world, not just in Nevis, and the only person who has to know the location is your registered agent.

Asset Protection

Asset protection is the visiting card of Nevis, and it also applies to LLCs. Others will have a hard time trying to take away or control the property that belongs to a Nevis LLC. However, you will only be under the protection of the jurisdiction if you abide by the laws. For example, an attempt to withdraw the assets after a lawsuit is filed against your company is against the law.

Let’s take a look at the main aspects of the Nevis legal framework that is specially elaborated for maximum investor protection:

Courts

Nevis courts do not accept class-action lawsuits and only consider individual cases.
The decisions of foreign courts are not recognized in Nevis. Thus, gives bulletproof protection. If someone has won a case against you in a country other than Nevis and the foreign court orders to seize your assets in Nevis, this cannot be done. The proceedings have to start all over again, this time locally. This is not very easy and means that many barriers have to be overcome.

Lawsuits

If the creditor decides to file a lawsuit against your company in Nevis, they must pay a bond of USD 100,000 before they can do it. The bond is not returnable if the case is lost. Thus, deterring the majority of potential claimants.
You can only engage a local attorney to handle your case. It practically means that the number of experienced professionals you can work with is considerably limited. Often the best specialists work with registered agents and cannot be hired due to a conflict of interest.
Evidence to substantiate the case has to be on the level of “beyond reasonable doubt”. This is a very high standard in the US for criminal cases. This condition requires the attorney to make thorough preparations.
A lawsuit that disputes the transfer of a particular asset to your Nevis LLC can only be filed within 2 years from the date of transfer. Upon expiration of this term, the local court will turn down the claim. Thus, your Nevis LLC will continue its business activities without any interruptions.

Results

If the plaintiff wins the case, the court’s judgment and the plaintiff’s claim regarding the ownership of the defendant’s company will only be valid for 3 years and is not subject to extension.
The court decision only applies to the company’s individual owner involved in the case. If there are several owners in the LLC, their shares remain intact.
In the majority of situations, the plaintiff cannot claim ownership of the company’s particular asset. The only thing he or she can get is to obtain dividends received by the defendant.

Other Benefits of a Nevis LLC

Even if the manager of a Nevis LLC is not its owner, he or she can exercise full control over it and manage the LLC and all the assets in its possession.

An LLC in Nevis can comprise a lot of members, and it can be owned by individuals or legal entities residing in any country. A sole owner can be the company’s manager or director at the same time.

If you generate 100% of your income outside Nevis, you will not be liable for a corporate tax. As for capital gains tax, stamp duties, or withholding tax, they are not payable in Nevis. What is more, there are no currency restrictions in the country.

There are no limitations on re-domiciliation, which means that you can relocate your existing company to Nevis or move your Nevis company to another jurisdiction.

A Nevis LLC can own and manage various asset types, such as cryptocurrency, property, investments, money, and so on. This can serve as an ordinary trade company, a holding company, or just a structure where you keep your money. Furthermore, if you combine your LLC with a Nevis trust, you will benefit from an ultimate level of asset and personal data protection.

Interested in Nevis? Click to find more articles on this remarkable jurisdiction or get in touch with an expert to discuss your business situation at no fee!