Nevis International Exempt Trust Ordinance, 1994 - Providing flexible and modern Legislation.
Some Significant features of the Ordinance:
The procedure for the registration of an international trust is pretty easy and fast and the requirements are minimal. The only information required is the name of the trust and a designation of the Registered Agent/Office. The actual Trust documentation or Trust Deed is not required by Law to be filed
an international trust is not subject to any form of taxation
A Corporate entity is permitted to be a Trustee of a Nevis Trust
a trustee can be either a Nevis Licensed Trust Company or a Nevis Business Company. A Nevis Business Company can be a trustee to more than one international trust
Provision for Different Types or Classes of Trusts
The Ordinance makes provision for various types of Trusts. Among some of the most commonly used are:
-Charitable Trust - Used for the specific purpose of Charity
-Purpose Trust - Used not for the benefit of a person or group but for a specific purpose.
-Discretionary Trust - This Trust is used where the disbursement of Trust funds to the beneficiary(s) is at the discretion of the Trustee.
-Asset Protection Trust - Used to take advantage of the Financial Laws that provides for maximum protection of the Trust Assets.
The Ordinance provides for a Trust to have duration of One Hundred(100) years
inclusion of strict confidentiality provisions. All non-criminal judicial proceedings relating to an international trust are required to be heard in private with no details being published without leave of the Court
Protection from Court Proceedings and Possible Claims
provision requiring that any claim brought against an international trust must be brought in the High Court of Saint Christopher and Nevis within a period no less than two years of the date of the transfer to the international trust
a requirement that a creditor bringing any proceeding against an international trust must place a bond in the sum of US$25,000 with the Nevis authorities
Clear Language as to what constitutes the proper law of an international trust
-A person who is entitled to a benefit whether contingent or not under a Trust.
-A third party who has the right to veto some actions of the Trustee.
-The person creating the Trust. Often referred to as the Grantor in the USA.
-The person or corporation that is responsible for the administration and management of the Trust and ultimately the execution of the wishes of the Settlor.
STEPS TO GETTING STARTED:
Complete our Trust application form. You have a choice of completing and submitting form online or downloading and sending us hard copies. (Please be sure to send along the required supporting documents)
Ensure that the necessary fees are sent in advance so that your order could be processed. If we're not in receipt of the necessary fees we can not process your order.