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Offshore Services

Myrna R. Walwyn & Associates specializes in the following offshore services:-

1. Offshore Trusts

2. IBC Incorporation

3. LLC Incorporation

4. Nominee Incorporators/Shareholders

The firm can provide asset protection structures specially designed and tailored to its client's specific needs.

NEVIS

Offshore Trusts

The Nevis International Exempt Trust Ordinance was enacted in 1994 by the Nevis Island Assembly. The Ordinance combines many of the modern provisions of trust legislation in other jurisdictions, with new and innovative elements which together make it a most unique and progressive legislation.

The Nevis International Exempt Trust was designed primarily to meet the needs of the modern professional desirous of protecting hard earned asset from frivolous litigation.

This trust which is largely used in conjunction with a Nevis Business Corporation, is also widely utilized for tax and estate planning.

The following are some of the key features of the Nevis International Exempt Trust :

a) The assets and income of the trust are exempt from all estate, corporation, gift, income, inheritance, withholding, succession and stamp duties.

b) Foreign judgments are not enforceable against the Settlor, the Trustee, the Beneficiary or any trust property.

c) The Settlor can appoint a Protector.

d) The maximum duration of an International Trust is 100 years. However, an international trust established for charitable or non charitable purposes, may have a duration in excess of 100 years.

Nevis Business Corporations.

International Business Corporations ( IBCs ) in Nevis are governed by The Nevis Business Corporation Ordinance 1984.

A Nevis IBC may be incorporated to conduct any lawful business and so there is no need to list the specific objects of the company incorporated. Once the company does not conduct business in Nevis, it is exempt from all corporate tax, income tax, withholding tax, stamp duty, asset tax, exchange control, or other taxes based upon or measured by asset or income originating outside of Nevis.

The incorporation process is extremely simple. All that is required to be submitted on incorporation to the Registrar of Companies is the name of the corporation.

Annual Returns are not required, but corporations must pay an annual renewal fee. The corporation is required at all times to maintain a Registered Agent in Nevis.

Foreign corporations may easily transfer their domicile to Nevis, so long as the law of the foreign domicile does not expressly prohibit such transfer.

Limited Liability Companies (LLCs)

The Nevis Limited Liability Company Ordinance was enacted in 1994 to provide an alternative to those individuals who wish to establish either a corporation or a partnership.

The owners of the Limited Liability Company (LLC ) are called members and, depending on the structure of the entity, may be either partners or shareholders.

The company is incorporated by filing with the Registrar of Companies, Articles of
Organization, and the rights and obligations of the members are contained in the companies Operating Agreement.

The Nevis Limited Liability Ordinance provides protection to the company from creditors by limiting its creditors to a charging order and, stipulating that this is the only remedy available to them.

P.O.Box 84, Main Street, Charlestown, Nevis, W.I.
Telephone: 869-469-5645/5933
Facsimile: 869-469-1161

© 2007 Myrna R. Walwyn & Associates. All Rights Reserved.

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