The Business Corporate Ordinance Amendment 2018 has erased tax exemption regime for non-resident companies. All IBCs registered before 31st Dec, 2018 would be granted an extended period for tax exemption to 30th Jun, 2021. An IBC incorporated after Dec 2018 would be subject to corporate income tax of 33% for its income originating from inside the Islands. Foreign-source income would be exempt from local income tax.
Frequently Asked Questions
What is the income tax rate chargeable to an International Business Company in Nevis?
Are there any restrictions placed on activities of a Nevis IBC company?
A company is not allowed to engage in the business of banking, insurance, assurance, fund, money services, corporate services or any other finance-related activities without first obtaining relevant licenses from local authorities.
What kinds of company can be registered in Nevis for international trading and investment?
An International Business Company in Nevis can be incorporated under a company limited by shares.
What is the minimum number of directors/shareholder required for an IBC?
There should be at least one director and one shareholder, who could be a natural person or body corporate, resident or non-resident in Nevis.
Is information of company directors/shareholders secured in St. Kitts and Nevis?
Information in relation directors/shareholders is not publicly disclosed.
Is there any requirement on the amount of registered capital?
There is no required minimum or maximum amount of paid-up share capital. Normally the authorized share capital is either 500 no par value shares or US$50,000 with a par value of US$1.
What classes of shares an IBC can issue?
Registered shares of par or no par value, preference shares, redeemable shares and voting or non-voting shares. Bearer shares may be issued but must be held by an authorized depository.
How to maintain a company in Nevis?
- Maintain company structure with at least one director/shareholder;
- Local registered agent and registered office which is also the registered address of the agent.
No need for filing annual return, tax return or filing of financial accounts, but proper and complete financial records have to be maintained.