Nevis

Nevis is one of the islands in the Leeward island group and a part of the Federation of Saint Christopher(also known as Saint Kitts) and Nevis. The group can be found in the Caribbean sea. The two islands lay around 3 kilometers apart from each other, with a shallow channel called The Narrows connecting them and Saint Kitts being the largest island of the two. As the federation is also a part of the commonwealth realms, Queen Elizabeth II is the head of the state and also sometimes is referred to as the Queen of Saint Christopher and Nevis.

Economy

A large part of the economy used to consist of the production of sugar from locally grown sugar canes. But as some large natural disaster such as storms and hurricanes may wipe out a large part of some plantations, the government has shifted it’s focus from the production of the sugar canes to such areas as tourism, export-oriented manufacturing and offshore banking. Almost all the accounted income in Nevis is made from the offshore financial sector. Just the yearly fee of the 17 thousand registered banks amounts to more than 10% of GDP. In 1999 the Hurricane Lenny caused massive damage to the major part of the island. The economic crisis where evaded due the stable income from the offshore financial sector and some minor part of the economy comes from the income that derives from the investments for the purpose of acquiring a citizen ship in Nevis.

Incorporation

The two types of companies that are usually incorporated for the offshore use are offshore exempt company, and the second being offshore Limited Liability company. The usual time for company incorporation in Nevis ranges from a single day to a week.

Company name

The name of the company may be in any language as long as it uses Latin alphabet and if the name of the company is in language in any other than English the name of the company must be accompanied with the translation of the name in English. Also the company name must comply with the following rules: The name of the company may not be similar or the same to an already existing company. A name that may suggest any illegal activity and a name that may be offensive/undesirable for both the government and the registrar.

Company names that require a special license

Any names that may suggest such activities as banking, insurance, funds, loans, trusts and education facilities.

Language

The literacy rate for the country is 98%, one of the highest rates for the region. The official and mostly used language of the island is English.

Local requirements

An agent licensed by the minister of finance is required with a local registered office for the company. There are no requirements for a local secretary and the director of the company may be of any nationality and may reside anywhere in the world.

Yearly requirements

A company must pay a yearly license fee of at least 200USD or equivalent and prepare accounts for such events as inspections by government.