Nevis is a small island in the Caribbean Sea that forms part of the inner arc of the Leeward Islands chain of the West Indies. Nevis and the neighbouring island of Saint Kitts constitute one country: the Federation of Saint Kitts and Nevis. Nevis is located near the northern end of the Lesser Antilles archipelago, about 350 km east-southeast of Puerto Rico and 80 km west of Antigua. Its area is 93 square kilometres (36 sq mi) and the capital is Charlestown.
The official currency is the Eastern Caribbean dollar (EC$), which is shared by eight other territories in the region.
The introduction of new legislation has made offshore financial services a rapidly growing economic sector in Nevis. Incorporation of companies, international insurance and reinsurance, as well as several international banks, trust companies, asset management firms, have created a boost in the economy.
The political structure for the Federation of Saint Kitts and Nevis is based on the Westminster Parliamentary system, but it is a unique structure in that Nevis has its own unicameral legislature, consisting of Her Majesty's representative (the Deputy Governor General) and members of the Nevis Island Assembly. Nevis has considerable autonomy in its legislative branch.
Key Advantages of the Jurisdiction
· Political stability coupled with the Government’s policy of maintaining the International Financial Sector.
· Well regulated, compliant jurisdiction with adequate safeguards.
· There are no personal or corporate taxes levied on income derived from outside Nevis.
· It is mandatory to prepare accounts, but there are no filing or audit requirements.
· No exchange control with free repatriation of profits and capital.
· Familiar corporate structure and good reputation make it easy to open bank accounts in Nevis and worldwide.