Saint Kitts & Nevis Company Registration (2023 Updated)
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Quinn Le
Among the gorgeous tourism spots, Nevis has established the ideal foothold to catch the attention of a worldwide audience. The Caribbean island of Nevis has likewise converted itself into a prosperous overseas business region, allowing business investors to join and incorporate their company units. The country is a well-known offshore financial hub and a rising market for foreign company formation.
A Nevis offshore corporation is a versatile instrument for asset protection and tax planning. It provides simple and quick incorporation, low initial expenditure requirements, and no financial reporting obligations during the life of the firm.
Benefits of incorporating in Saint Kitts and Nevis Islands:
Tax incentives
For international investors, Nevis offers exceptionally attractive tax benefits. This is one of the most significant benefits attracting international business owners. More information about tax breaks is provided below:
| Tax Resident | Non-tax resident | |
|---|---|---|
| Dividends | 0% | 15% |
| Royalties | 0% | 15% |
| Interests | 0% | 15% |
| Social Contribution | 5% of the salary | 5% of the salary |
| Stamp Duty | 6%-10% | 6%-10% |
| Unincorporated Business Tax | 4% | 4% |
| Corporate tax | 33% on the worldwide income | 33% on the income earned in St Kitts & Nevis |
| VAT | 0%-15% depends on the product | 0%-15% depends on the product |
In general:
- Individuals pay no income tax.
- Reduced VAT in select areas
- Some products and services are exempt from VAT.
- Reduced property taxes
Transparent regulation
Nevis follows English Common Law and the Delaware Enterprise Act, both of which are widely used across the world and are simple to comprehend and use.
People
Locals speak English, which allows international investors to better comprehend the firms and the general scenario here. To summarize, Nevis employs the Delaware Enterprises Act to handle corporations registered in the nation. This statute is commonly utilized to manage commercial matters and corporate litigation and has been accepted as the norm by several US states.
Privacy
St. Kitts and Nevis business registrations are private: no information about shareholders or directors is released. Furthermore, there is no compulsion to publish a company's earnings every year, but there should be. In the event of any legal issues, the government of St. Kitts and Nevis will deny all demands from other nations to release business reports until there is evidence that the firm incorporated in St. Kitts and Nevis has done any type of illegal behavior against the country's laws.
Types of company in Saint Kitts and Nevis Islands:
The principal forms of business organization in Saint Kitts and Nevis are:
- International business company
- Limited liability company
Requirements to form Saint Kitts and Nevis companies:
| International Business Company | Limited Liability Company |
|---|---|
|
1 Director 1 Shareholders 1 Secretary (Individual or corporate) 1 UBO (Individual) Registered Office No Auditing & Accounting No annual report Annual tax return filing Can operating inside and outside the country |
At least 1 Director (individual or corporate entity) At least 1 member (individual or corporate entity) 1 UBO (individual) Registered Office No Auditing & Accounting No annual report Annual tax return filing Operating outside Nevis only |
Services after incorporation:
Bank account opening
In order to meet compliance, you need to open a bank account. Based on your business entity, business industry, business type,etc , we will help you to choose the best types of bank and brand. For later steps, we will guide you in detail as the procedures are different based on different banks.
Bookkeeping
Businesses’ stable development requires proper cash flow management without violating the government’s laws and regulations. Therefore, our team will accompany you with a professional bookkeeping service to maintain financial data accuracy.
The advantages when outsourcing a specialized team of compliance services: Provide a cost-effective solution for businesses that save more time & resources than manual bookkeeping work. And you should engage in bookkeeping to keep financial records ready for year end returns requirements.
How Much Does It Cost to Incorporate Saint Kitts and Nevis Company?
In Saint Kitts and Nevis Islands, forming a business necessitates a plethora of sophisticated documentation and processes. It is also worth noting that foreigners are required by Saint Kitts and Nevis Company Law to engage the services of a licensed corporate service provider. CONTACT G.O.C RIGHT NOW to receive the greatest offer and save time.
Disclaimer: This guide serves as a reference tool and should not substitute legal advice. For tailored guidance, consult G.O.C's customer services.
