IN474 - Providing Professional Firms in the BVI with Access to Complementary Services from Nevis

Nevis and the British Virgin Islands (BVI) are countries within the Caribbean that offer well-regulated and effective solutions for businesses around the world. They are international financial centres offering clients innovative corporate and wealth management solutions.  

A number of similar corporate services are available in the two jurisdictions but, due to recent Government rule changes in the BVI, there are now a number of areas where Nevis might be able to assist BVI firms, by offering effective additional and/or alternative services. This can assist BVI professionals to maintain and develop their client base.

Characteristics of the Jurisdiction of Nevis and Complementary Services to Provide Additional Choice and Value for BVI Professionals

Please see below a number of areas where Nevis might offer complementary services:

  • A Private Corporate Register – No local register of directors, officers or ultimate beneficial owners. The Regulator has publically stated on more than one occasion that Nevis will not voluntarily establish registers of this kind.
  • Ability to hold your own Nevis Licence – If the anticipated volumes of business are substantial, Dixcart Nevis can obtain a licence for you to offer corporate services from Nevis. We can assist in establishing a local Nevis company for you, apply for your licence and then assist in administering the business in Nevis.
  • A Three Year Post Dissolution Trustee Position and an Easy Redomiciliation Process – A dissolved company has three years after the dissolution of the company to finalise dealing with its assets and liabilities.  The directors take on the role of Trustee and can deal with any ongoing, pre-existing business situations. 

This, combined with a relatively simple re-domiciliation process can make Nevis an attractive jurisdiction to move companies to prior to a dissolution.

  • Redomiciliation and Dissolution – as indicated above the processes of re-domiciliation and dissolution in Nevis are straightforward, cost effective and quick. On receipt of the correct forms and funds, these processes only take between 24 and 48 hours to complete.
  • Legalisation of Documents for use in the United Arab Emirates (UAE) – St Kitts & Nevis has a consulate based in Dubai. A document that needs to be legalised in the UAE can be notarised in Nevis first and then sent directly to Dubai, where it will be apostilled and legalised at a significantly reduced cost and shorter timeframe than if sent to the UAE Embassy in London.
  • St Kitts & Nevis (SKN) Citizenship Solution – SKN provides a solution for international clients who are looking to ease their ability to travel around the world or are seeking a location where they can move to with relative ease.

The small distance between the BVI and Nevis means that St Kitts & Nevis can be an ideal place for clients to locate to whilst continuing to benefit from their BVI structures.

  • Alternative Structures that can be Offered to Clients – Nevis has the following available structures:
  • IBC – International Business Corporation 
  • PTC – Private Trustee Company
  • International Exempt Trust
  • LLC – Limited Liability Company
  • MultiForm Foundation

Dixcart’s Approach to Client Retention and Confidentiality

Dixcart understands and appreciates the importance of client confidentiality and retention of client communication. We will therefore treat you, the professional, as our client and the point of contact in dealing with the organisations and individuals that you wish to provide services to from Nevis. 

We aim to offer a service that allows you to retain and expand your client base, not only in the BVI, but in other jurisdictions that may be experiencing similar types of pressure.

Additional Information

If you require additional information regarding this topic and/or the jurisdiction of Nevis, please speak to your usual Dixcart contact, or to Graham Sutcliffe at the Dixcart office in Nevis: graham.sutcliffe@dixcart.com.

Categories: Nevis, 2017