IN535 - Consideration of the Jurisdiction of Nevis for the Control and Management of Companies outside the EU

The Requirement for Substance

In recent times a number of leading European countries have sought to limit the use of holding or associated companies outside the EU.  

The main reason given has been the lack of real substance being demonstrated in the countries outside the EU.

A Workable Solution to the Problem

Advantages continue to exist through the use of holding companies outside the EU. In the correct circumstances a number of tax efficiencies can be enjoyed. However, there not only needs to be a real demonstration of management and control in the relevant country, the Management Board also needs to ensure that processes are fully documented.

Where non-EU companies are established, this should be in ‘strong’ jurisdictions that can provide real substance.  This is best achieved by instructing a professional, local Management Board in the relevant country outside the EU, which has the ability and experience to make independent and informed decisions on behalf of the company.

How Can Dixcart Assist?

Through Dixcart’s office in Nevis, companies can be incorporated and managed in an efficient and structured manner, which demonstrates real substance and control at a local level. 

What Can Dixcart Offer from the Jurisdiction of Nevis?

  • Provision of a local professional Board of Directors, permanently resident in Nevis.
  • Clear demonstration and documentation showing control and management is taking place in Nevis.
  • The ability to open and run bank accounts in the Caribbean.
  • The ability to incorporate and run locally licensed Trust Companies and Family Offices, which are regulated in Nevis.
  • The ability to register a Nevis International Business Corporation (IBC) for tax purposes and to obtain a tax residency certificate. The IBC would then pay local taxes at a rate of less than 1%.
  • The option to use Dixcart’s local managed service offices to rent office space.
  • The local Dixcart team in Nevis has a combined 40 years of professional experience in running Trusts and Companies, with each of the professionals having gained their experience in Europe.

Reasons to Consider the Jurisdiction of Nevis as a Location for a Company Outside of the EU

There are a number of reasons why Nevis is a jurisdiction that should be considered:

  • The ability to manage companies from other Caribbean countries, for example, the BVI. The same management and control measures can be used to demonstrate that these companies are being run outside the EU.
  • Simple and easy rules exist to redomicile companies to Nevis.
  • An extremely efficient and well-run jurisdiction, where incorporations, dissolutions and other similar services can easily be completed within 24 to 48 hours.
  • Flexible and advantageous wealth management and succession structures.

Additional Information

For further information please contact the Dixcart office in Nevis: advice.nevis@dixcart.com.  Alternatively, please speak to your usual Dixcart contact. 

 

Categories: Nevis, 2018