Why companies Choose Nevis for offshore banking
In order to protect their assets from lawsuits, take advantage of international tax breaks, and grow their investments abroad, more and more businesses are joining the trend of opening an offshore account. Opening an offshore account is not about evading taxes or keeping money from the government. Instead, it is about structuring your affairs in such a way, so that you can take advantage of the local and international laws. Among various jurisdictions considered ideal to open an offshore account, Nevis has marked a niche for itself and turned out to be a tax haven. You can partner with Acme Trust Services to find right offshore banking in Nevis.
Here are some of the reasons why companies are choosing Nevis for offshore banking-
- Stable Government – Nevis is an independent country with a stable, democratically-elected government that has exhibited a full commitment to ensuring protection and maintaining the privacy of offshore companies involved in legitimate business practices. Nevis has not been tainted by reports of tax evasion or money laundering, which has been the case with numerous other offshore jurisdictions in the past.
- Dependable tax haven – An offshore company in Nevis is exempt from taxation on the income generated anywhere in the world outside. There is no tax on income to be paid, nor are there capital gains, estate, inheritance duty, or gift taxes. Moreover, Nevis is a member of the Eastern Caribbean Currency Union (ECCU). Its exchange risk is considered low in terms of financial system risk and moderate in terms of economic and political risk.
- Increased Flexibility – The rules and regulations regarding offshore company formation and operation in Nevis are spelled out in The Nevis Business Corporation Ordinance 1984. Operation regulations, in particular, are modeled on Delaware corporate statutes, which are considered to be one of the most flexible corporate statutes for tax benefits.
- Smooth Transfers – The corporation law for International businesses companies (IBC) in Nevis allows smooth international transfers of companies from their country of origin to Nevis. Making use the-domiciling provision’; a corporation can be transferred easily to Nevis without any need to change the name of the company or its date of incorporation.
- No residency requirements – There are no residency requirements for offshore companies in Nevis and citizenship is extended to all dependent family members, including parents.
Looking for offshore banking services in Nevis? Send your inquiry to Acme Trust Nevis!