In the world of offshore business, the clear line that exists between offshore and onshore regimes is quickly becoming thinner; and one may strongly argue that, promoting a level playing field for structural equality in fiscal policies is seemingly the cause for the removal of distinctions that traditionally defined offshore and onshore, resident and non-resident business entities.
Fortunately for the offshore business enthusiast, Nevis offshore companies remain uncompromised and continue to render real tax benefits. Be it an international exempt trust or a multiform foundation for wealth management and protection, a Nevis business corporation for trade, shipping, e-commerce or copyright services or an offshore bank for the purpose of transferring funds internationally, as an expatriate or person employed abroad, Nevis companies and entities are legitimately and structurally capable of functioning effectively and produce the anticipated and desired results.
In the global sense, Nevis offshore entities can all be used to provide different types of offshore services either as an offshore service provider or authorized agent in Nevis or a Nevis company which operates outside Nevis. Nevis offshore companies in particular can very much be used for carrying out nearly any type of business and can be structured as a Nevis offshore insurance or trust company which accepts appointments for organizing offshore insurance and trust services respectively.
A Nevis offshore trust for instance can be used just for what it is, that is, as an offshore trust for shielding assets, contributing to a charity organisation or spendthrift protection. Or, a Nevis offshore company organised for the purpose of providing offshore trustee services for organizing offshore trusts. Nevis offshore trust companies are regular offshore business companies that are specially licensed to provide trustee services. When taking on new appointments or administering a trust that already exists, trustees in Nevis are required to run a background check on the identity of the underlying beneficial owners of a trust in order to maintain regulatory standards and prevent unwanted financial activities.
Nevis offshore corporations can be used both locally and as offshore companies. The same rule applies for Nevis LLC’s which can be set up either as offshore or onshore Nevis LLC’s, meaning that Nevis LLC’s are available to local and overseas residents as prescribed for under the LLC Act.
As a type of Nevis offshore company, the Nevis multiform foundation is often described as a hybrid offshore business entity as it integrates certain qualities of different offshore business entities. Nevis multiform foundations are legal, independent entities that are entirely separate from the persons who form them. Nevis multiform foundation are basically used as trusts for holding and preserving assets but unlike a trust is capable of investing and pursuing business objectives with its assets as long as assets are not invested for any personal reason but in the interest of the foundation. Returns on assets invested must therefore be reinvested into the foundation and should not incur any loss to the foundation.
The ability of a Nevis foundation to serve as a Nevis company for offshore business or investment makes it similar to a Nevis company. Adding to this, a Nevis multiform foundation can be registered as a Nevis offshore company if at that point in time the main focus is to do business or provide one or more services.