The Nevis jurisdiction is “No-Tax” offshore domicile operated by the small Caribbean island of Nevis within the country of St Kitts and Nevis. St Kitts and Nevis an independent sovereignty and is not a crown dependency like the Channel Islands, and Nevis is not connected to another larger dependency. St Kitts and Nevis has become infamous in recent years for their instant (6+/- months) passport program.
Nevis is a great place to incorporate.
Single Member LLC’s
A distinct advantage of a Nevis LLC is the ability to incorporate with a single member. Although Nevis isn’t the only place this is possible, the strong asset protection laws of Nevis are favorable compared to other jurisdictions.
Easy Corporate Compliance
Unlike other jurisdictions like HK, The Nevis LLC does not have to face mandatory audits, and corporate compliance is minimal. There are very few company records to be maintained like corporate minutes. Your company meeting can be held anywhere, and an operating agreement can be tailored to your exact specifications.
No Resident Directors
A Nevis LLC can be formed without mandatory resident directors (such as Ireland, which requires one; or Singapore which requires 2 citizens or permanent residents of Singapore)
Strong Asset Protection
To bring an action in Nevis against your corporation the creditor would need to post a $25,000 cash bond with the court in addition to any legal fees. It might not be as strong as the Cook Islands, but Nevis is a solid choice from an asset protection standpoint.
Be careful if you start a single member LLC in the United States!
USA domiciled single member LLC’s have been perceived as risky because they don’t have outside-in asset protection, or ‘personal lawsuit’ protection.
There is precedent caselaw where with single member LLC’s in and is evidence that the best place to operate an LLC in the US is within the states of Wyoming, Delaware or Nevada. This is because of charging order protection which is tested and proven by caselaw.The State of Wyoming has statutes that specifically provide for charging order protection for single member LLC’s.
Nevis offshore statutes for Nevis IBC’s and Nevis LLC’s are actually derived from US jurisdictional law in the states of Delaware and Wyoming, respectively. A single member LLC in Nevis has charging order protection, and other benefits of a Wyoming LLC, located in a jurisdiction offshore, with Nevis courts governing. All the benefits of the strongest LLC in the United States, located offshore in Nevis.
Nevis has no connection to US court system or governance, they simply borrowed the jurisdictional law because they felt it was the strongest upon which to build their offshore domicile laws.
Privacy
The Confidential Relations Act of 1985 guarantees the confidentiality of Nevis offshore companies and bank accounts.
Nevis Has No Public Registry – Nevis does not have a publicly accessible database of corporate records. Only the government of St Kitts and Nevis and lawyers who practice in Nevis can access this database.
Unlike other jurisdictions, no greedy creditor can get even the most basic information about your LLC – such as when it was filed, who it was filed by, or who owns the company. Your registration is essentially anonymous.
How is an LLC different from a Company limited by shares?
This may be basic for some of you, but its a question I get asked alot so I thought I’d touch on it.
A member of a Limited Liability company is limited to the amount of contributed capital they make to capitalize the company and ‘buy’ a membership interest. An LLC is comprised of membership interest whereas a stockholder in a company limited by stock. In the traditional sense of the word this limits owners personal liability by their stock investment.
I’ve heard Hong Kong is the best place to incorporate offshore, is this true?
Hong Kong does offer some distinct advantages over other jurisdictions. For starters, a Hong Kong company that operates “offshore” or in a “no-tax” environment, is actually not a distinct offshore jurisdiction. Hong Kong is one of the best jurisdictions in the world, it does have its downsides, such as yearly audits.
Also, you will likely have to travel to hong kong and make a deposit to open a bank account there, unless you pay a premium fee for a full service incorporation and bank introduction.
Hong Kong is a fantastic place to operate offshore. Personally, I would incorporate in Hong Kong if I were operating any sort of fund. Also, Hong Kong is great if you are sourcing from China, or you want a very professional appearing company. Hong Kong actually doesn’t have a separate offshore legislation, so this is favorable for those who want to be ‘onshore’ and offshore. Similar to Singapore in that respect.
Do you want a yearly audit? If not, then don’t operate in Hong Kong.
Conclusion.
Your Nevis LLC is backed by strong laws – Nevis is a common law jurisdiction with LLC statues derived from the best state to incorporate an LLC in the US – Wyoming.
Your Nevis LLC is private – Your name is not on the company registry, because there is no publicly accessible company registry
You can manage the Nevis LLC yourself – as a single member LLC. You also have the choice of a manager managed LLC and multiple members, or a member managed LLC with multiple members. LLC’s are for the most part very flexible.
Many people have the desire to minimize their taxes at the state level. Particularly for internet businesses which operate with a physical presence, its important to consider the fact that you can essentially operate from anywhere in the world. Therefore, it makes sense to incorporate in a state with little, or no sales or income tax.
If you are looking for a state with no income tax, where you want to establish a physical presence?
You might consider Wyoming for your incorporation.
Wyoming has no income tax and no sales tax on corporations/LLC’s unless they sell physical items IN the State of Wyoming. Wyoming also has the best asset protection in the country for single member LLC’s.
We can also file a private Wyoming LLC so your name is not in the state registry and we can provide a corporation or LLC with a physical address in the State of Wyoming
The price is $297 for an LLC with operating agreement, articles of incorporation, and certificate of good standing, and one year registered agent service from my office In Wyoming, and all state fee’s taken care of. For $30 per month you get a phone, fax, and physical address in Wyoming.
After year one, you pay just a $50 state fee. Compare that to a $250 state fee in Delaware, or $400+ state fee’s in NV.
We can also connect you to an accountant on my team if requested to ensure your corporate set up legally minimizes your tax exposure.
Check out our Main Article on Incorporating a Nevis LLC
Oh I’ve heard of that, the passport country right?
Nevis is actually a separate offshore domicile from the country of St. Kitts and Nevis, which has gained recent notoriety as one of the two countries in the world to offer a transparent economic citizenship program. Nevis offers citizenship by economic contribution if you are willing to make a one time economic contribution to the Government of St Kitts and Nevis to the tune of the 2012 price of 250k. You can also qualify if you buy real estate with worth over 400k The only other country in the world with an instant passport program (by instant meaning about 6 months, no need to visit or live in the country) is Dominica, not to be confused with the Dominican Republic. A passport in Dominica costs about 75,000-100,000, and up to 150,000 to naturalize a family.
The only tax due on Nevis companies to the country of Nevis, is when business is transacted within the country of Nevis. You also cannot hold real estate or physical property in Nevis with a Nevis LLC.
Talk to a tax attorney in your home country to discuss your unique tax obligations.
More On A Nevis LLC…
If you are looking for an offshore jurisdiction that is right for your business and your company, Nevis may be the right choice for you. The Nevis Offshore jurisdiction is a 100% tax-free offshore domicile operated by the small Caribbean country of St Kitts and Nevis. It is an independent sovereignty and is not a crown dependency like the Channel Islands, or connected to another larger dependency.
A Nevis LLC has distinct advantages, and comes at a very affordable price. The Nevis LLC does not have to face mandatory audits, and corporate compliance is minimal, there are very few company records to be maintained like corporate minutes. Your company meeting can be held anywhere, and an operating agreement can be tailored to your exact specifications.
A Nevis LLC can be formed with just one owner, and you can also create hybrid entities by combining trusts if additional asset protection is requested.
So you don’t need multiple owners, a secretary, a board of directors, nominee’s or anything along those lines?
A downside of many offshore incorporations is that they require more than one director. For example, if you wanted to set up in Singapore (another fantastic choice for an offshore corporation) you would need to have 2 residents of Singapore serve as directors. Contrast this to Nevis, where you can operate as a single member LLC.
You are certainly allowed to have more than one owner, but Nevis does allows for one person to incorporate a company. You can incorporate a company that is single member managed.
Can I get sued?
To bring an action in Nevis against your corporation the creditor would need to post a $25,000 cash bond with the court in addition to any legal fees.
Okay so I’m reasonably protected from the actions of the LLC, what about a personal lawsuit, lets say I get in a car crash in the US.
Am I still protected from personal lawsuits?
USA domiciled single member LLC’s have been perceived as risky because they don’t have outside-in asset protection, or ‘personal lawsuit’ protection.
There is precedent caselaw where with single member LLC’s in and is evidence that the best place to operate an LLC in the US is within the states of Wyoming, Delaware or Nevada. This is because of charging order protection which is tested and proven by caselaw. CAREFUL WHEN starting a single member LLC in the United States! ONLY Wyoming has statutes that specifically provide for charging order protection for single member LLC’s.
Nevis offshore statutes for Nevis IBC’s and Nevis LLC’s are actually derived from US jurisdictional law in the states of Delaware and Wyoming, respectively. A single member LLC in Nevis has charging order protection, and other benefits of a Wyoming LLC, located in a jurisdiction offshore, with Nevis courts governing. All the benefits of the strongest LLC in the United States, located offshore in Nevis.
Seems random, why use laws from the USA?
Wyoming was the first state to implement the LLC or the Limited Liabilty Company. Nevis has essentially ‘borrowed’ the Wyoming LLC laws, and applied them to an offshore jurisdiction. Nevis has no connection to US court system or governance, they simply borrowed the jurisdictional law because they felt it was the strongest upon which to build their offshore domicile laws.
How private is a Nevis LLC?
The Confidential Relations Act of 1985 guarantees the confidentiality of Nevis offshore companies and bank accounts.
Nevis Has No Public Registry – This fulfills the first pillar of Asset Protection – privacy. The Nevis LLC is for all practical purposes anonymous. Nevis does not have a publicly accessible database of corporate records. Only the government and lawyers who practice in Nevis can access this database.
No one can get even basic information about your LLC – such as when it was filed, who it was filed by, or who owns the company. Your registration is essentially anonymous.
A member of an Limited Liability company is limited to the amount of contributed capital they make to capitalize the company and ‘buy’ a membership interest. An LLC is comprised of membership interest whereas a stockholder in a company limited by stock. In the traditional sense of the word this limits owners personal liability by their stock investment.
Incorporating in Nevis as an LLC comes with greater protection for less cost than other jurisdictions which requisite multiple owners to incorporate.
Hong Kong does offer some distinct advantages over other jurisdictions. For starters, a Hong Kong company that operates “offshore” or in a “no-tax” environment, is actually not a distinct offshore jurisdiction. Hong Kong is one of the best jurisdictions in the world, it does have its downsides, such as yearly audits. Also, you will likely have to travel to hong kong and make a substantial deposit to open a bank account there, unless you pay a premium fee for a full service incorporation and bank introduction.
I can’t discount that Hong Kong is a fantastic place to operate offshore. Personally, I would incorporate in Hong Kong if I were operating an ex-pat hedge fund. Also, Hong Kong is fantastic if you are sourcing from China.
Otherwise, I see less burdernsome reporting requirements as favorable. Do you want a yearly audit? If not, then don’t operate in Hong Kong. Do you want aggressive writeoffs and a legitimate front, Hong Kong might be right for you.
We can open a Hong Kong company for a cost of $2,500.
You control your LLC completely – there is no need for split ownership with a nominee – that may be required in a jurisdiction like Singapore, Ireland, Thailand, etc.
Your LLC is backed by strong laws – Nevis is a common law jurisdiction with LLC statues derived from the best state to incorporate in the US – Wyoming.
Your LLC is private – Your name is not on the company registry, because there is no publicly accessible company registry. If you are a US citizen or resident alien and you spend more than 330 days abroad
If your business is “mostly you” or you function primarily as an independent contractor, and want to operate offshore. You want a clean, simple and easy way to get an additional offshore legal entity that can sign up for bank accounts anywhere in the world bank accounts.
A Wyoming Close LLC is a smart method of asset protection planning, and can make proper use of a Wyoming LLC for asset protection. Wyoming is a pro-business state, and has very strong company laws with many advocates of privacy and liberty creating a favorable business Environment.
A Wyoming close LLC can have many uses based on your individual situation. A Wyoming close LLC can be ideal for your estate planning or asset protection purposes. Here are some facts about a Wyoming Close LLC.
A Wyoming Close LLC still retains the protective power of other Wyoming LLC Statutes that also provide strong asset protection for your LLC formed in Wyoming.
The sole remedy for potential creditors of a Wyoming Close LLC is a charging order. This essentially means that it is difficult for creditors to seize your assets in the event of a lawsuit, particularly when compared to other states like California or Florida.
The Wyoming Close LLC can include provisions that make it difficult to transfer membership of the LLC. This can be advantageous for several reasons.
A Wyoming Close LLC will oftentimes prevent a lawsuit from even occurring, because a creditor will see how difficult it is to control the Wyoming LLC as a creditor.
Wyoming Close LLC’s can choose to make profit distributions (dividends) if and when they choose. If there was a charging order against an LLC, you might choose not to make a profit distribution, for example.
A Wyoming Close LLC makes it difficult or impossible for a hostile takeover because the Wyoming Close LLC membership is established and not easily transferred and difficult to change, but only if you decide to make it this way.
For only $100 we will form your Close Wyoming LLC. We charge $100 to form a Wyoming Close LLC. $97 for Wyoming registered agent services, and the State filing fee of $100. A total of $297.
An optional service is the customized operating agreement for an additional $100 and a tax id for $50.
The Wyoming Close LLC is a fantastic option for anyone considering Asset Protection or Estate Planning. Asset protection is a great reason for forming a Wyoming Close LLC. You might also look at our Worldwide Jurisdictions. However, if you decide to go with a Wyoming Close LLC, e can also refer you to a Wyoming Estate planning lawyer who can create a customized operating agreemtn for your Wyoming Close LLC.
You need a registered agent to form a Wyoming Close LLC. Registered Agent Worldwide is the best Wyoming Registered Agent Service in the State of Wyoming. We provide everything you need, and won’t hassle you with anything you don’t.
Sign up for a Wyoming Close LLC today.
A foreign LLC is an LLC that does business in another state then where it is incorporated. For instance, a Foreign LLC incorporated in Wyoming, but licensed to do business in Delaware has the same rights as a Delware LLC –but may be protected by different state laws in the state of incorporation.
Futhermore, a person who wants to sue your LLC would have to serve you papers in Wyoming, creating a greater hassle, and lesser chance of a lawsuit. Futhermore, if you use our anonymous business registration services, you won’t be on the books as owning an LLC in Wyoming – and your name won’t appear under the name search – therefore – you won’t be perceived as having multiple assets, and your likelihood of being a target is decreased.
There is a relatively new legal entity called the Series LLC that is being promoted heavily by States attempting to profit off of this “money-saving-device” which effectively groups several LLC’s into one LLC.
You might think that you might be saving money by using a “Series LLC” but in all likelihood you could end up paying considerably more in the event of a lawsuit – plus – at $600-800 per year, they are hardly cheap.
Lots of people think that they are saving money by starting a series LLC in a state like California.
You may be saving money until your financial safety net is ripped apart by a lawsuit, and all of the assets held in the series LLC are available for predatory creditors to steal away from you.
California has some of the worst business laws surrounding LLC’s – first and foremost, you should never have a California LLC. This is because California law makes it very easy for creditors to shut down your business in the event of a lawsuit.
In other, pro business states, the sole remedy is a charging order. This means that the creditors will have to wait until profits are distributed before they can stake a claim to your company.
Without confusing the reader with complicated legal jargon, In California, your business can easily be dismantled in the event of a lawsuit. Furthermore, you may lose all of your personal assets as well – if the corporate veil is pierced – which may be relatively easy with a series LLC.
Series LLC’s are unproven in the courts of the United States, and you certainly don’t want to be the one to establish the new caselaw.
Courts rely on precedent caselaw to make judgements concerning a specific case, and therefore, you want to establish your LLC in a state with
1. Pro-business laws where the sole remedy is a charging order
2. Established, precedent caselaw
The best States for U.S. incorporation are Wyoming, Delaware and Nevada, and these States also allow you to keep your name off of the state register when you sign up the LLC.
The Series LLC is anything but proven! Does anyone even know if there will be inside protection from a series LLC? NO! And you certainly don’t want to be the first to find out.
THINGS TO REMEMBER
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