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Incorporating offshore can be an efficient way to maximise your financial gain while keeping red tape to a minimum, and increasing numbers of business people are choosing to form their companies overseas.
There are many locations around the world that offer advantages to overseas companies, but one of the most popular is the island of Nevis, part of the small Caribbean nation of St Kitts and Nevis, which offers a number of benefits that you won’t find in some of the traditional jurisdictions such as the Channel Islands, Hong Kong or UK dependencies like the British Virgin Islands (BVI).
One of the major advantages of incorporating in Nevis is that corporate compliance is at a bare minimum. In locations such as Hong Kong, there is an obligation on the part of foreign companies to submit certain information to the authorities, but this is not the case in Nevis. The island’s government does not require regular audits, the maintenance of extensive company records, or the disclosure of directors' details.
Another reason why Nevis compares well with rival jurisdictions is its tax policy. Although many such havens offer low taxation, foreign companies may still be subject to some tax, particularly if the country concerned has legal connections with the UK or Europe. Nevis offers none of these drawbacks. Foreign companies setting up there are exempt from all taxation and foreign exchange controls.