Why are High Net Worth Individuals Opening Companies in Nevis?

Nevis is a small island located in the Caribbean together with the island of St. Kitts. Once a member of the British Colony the Island gained independence in 1983. Over the years the island has gained popularity for those who wish to register a company. Net business formation has been at its highest in recent year with the number of business licenses issued exceeding the 400 mark according to the Inland Revenue Department. From 2015 to 2018 business licenses exceed the 400 mark, with 2016 being a particularly successful year peaking at 490 for new business licenses.

One of the wonderful things is that, over the last four years, the growth in new businesses entering the formal economy has been phenomenal – Prime Minister Harris

Why are high net worth individuals choosing Nevis?

With the proof of successes in the figures it has led many to ask, why are high net worth individuals setting up businesses in Nevis? Nevis provides the following benefits for business:

100% ownership, Nevis holds no shares
Highest level of privacy – Shareholders and directors names are anonymous and not part of any public records.
Tax-Free – International Businesses do not pay tax
Only one shareholder and one director is required
Auditing and accounting requirements are not enforced
Low cost of company registration
English is the official language
There is no currency control
A company can be set up very quickly

Citizenship by Investment

Another factor that has contributed to the rise of High Net Worth Individuals interested in Nevis is the citizenship by Investment program. The program provides citizenship for those who invest in the island, over recent years the program has become increasingly popular. The popularity is following a new initiative that aims to boost the islands social economic advancement. This new initiative has gone hand in hand with making Nevis an increasingly desirable location to live and opening a business.

It is no surprise why so many High Net Worth Individuals are opening companies in Nevis and experiencing the array of benefits the island has to offer, as well as the lifestyle. However, if Nevis is not for you, take a look at International Property Investment – Where to Invest.