IN429 - Migration of Companies To Nevis – Why and How

Why Migrate a Company to Nevis?

There are a number of reasons why you might consider migrating an existing company to the jurisdiction of St Kitts & Nevis:

  • Nevis is a well-regulated jurisdiction which is independent and offers a stable political and economic environment.

  • Nevis applies Common Law.

  • Nevis does not have public or Governmental registers for directors, shareholders or beneficial owners. All information is maintained privately and securely at the Registered Office in Nevis by the Registered Agent.

  •   St Kitts & Nevis have Consulates overseas, including one in Dubai, which makes legalisation of company documents in these locations easier and significantly less expensive than the legalisation of documents from other jurisdictions.

  •  Updated legislation is regularly introduced to offer a greater variety of relevant international corporate vehicles. Nevis International Business Corporation (IBC) legislation now allow sole directors, which can be corporate entities or individuals.

  • The director(s) and/or secretary can be located anywhere in the world and can be individual(s) or legal entities.

  • Nevis has a small and extremely efficient Registrar capable of supporting companies with a fast and efficient service.

  • There are no filed annual returns or financial statements.

  • Authorised share capital can be denominated in any recognised national currency.

  •   Nevis IBCs are able to amend their articles of incorporation relatively easily and can also merge or consolidate with foreign corporations or other Nevis corporations.

Options and Benefits of Migration to Nevis

There are a number of reasons why it might be beneficial to consider migrating a company to Nevis, rather than establishing an entirely new company in Nevis:

  • By changing a company’s domicile to Nevis the history and continuity of the structure are retained.

  • Migration avoids the physical switching of assets into a new company and therefore any deemed disposal issues.

  • Where a company is a party to a contract or other agreement that could prove costly or difficult to renegotiate migration to Nevis would avoid any need to re-negotiate.

Procedures for Transfer of Domicile to Nevis

Redomiciliation to Nevis is a fast and simple process:

  • Completion, notarisation and apostillation of the following documents is required:

    • The Application for Transfer of Domicile form.

    • The signed resolution passed by the shareholders.

  • These original documents must be filed with:

    • A Certificate of Good Standing.

    • Memorandum and Articles apostilled from the jurisdiction that the corporation is transferring from.

    • A statement that the transfer is being made in good faith is also required.

  • Revised Articles also need to be presented with the application and can be completed by the Dixcart office in Nevis.

Additional Information

The Dixcart office in Nevis can provide further information regarding Nevis IBCs and the advantages that this jurisdiction offers. Dixcart Management Nevis Limited is a Registered Agent for the establishment and management of Nevis IBCs.

Please speak to your regular Dixcart contact or to Graham Sutcliffe at the Dixcart office in Nevis for additional information regarding the migration of companies to Nevis: advice.nevis@dixcart.com.

Categories: Jurisdiction, Nevis, Year, 2016