Online Nevis Foundation Formation

Online Nevis Foundation (Nominee) Formation

Nevis Multiform Foundations

The Nevis Multiform Foundation is a uniquely customized foundation; a redesigned foundation capable of choosing one of many forms:

1. Company Foundation (with Limited liability)
2. Company Foundation (not a limited liability company)
3. Partnership Foundation
4. Trust Foundation
5. Ordinary Purpose Foundation

Through this revision of the law, the foundation can do what most others can’t. The foundation imitates the features and characteristics of the chosen form. As an example — the “Company Foundation” can operate as a fully functional company, with foundation protecting assets. Since ordinary foundations are not intended to undertake daily profit making activity, any one of the corporate foundations will suit. With the Nevis Multiform Company Foundation, it’s the total package.

The Nevis Multiform Offshore Foundation is easy to set up and we are experienced in setting up Nevis Foundations taking on any form.

Nevis Foundation Legislation

• The Nevis Multiform Ordinance 2004.
• Persons or corporations can form charitable, non-charitable, ordinary or non-purpose foundations in Nevis. The foundation is a hybrid entity of the  trust and corporation.
• Five types of Nevis foundations are possible under the law.

Nevis Foundations Advantages

• A Nevis foundation, in any form, is a tax free entity — exempt from all local taxes and duties.
• The Nevis Multiform Foundation can change its form at anytime with no restrictions. For example, a company foundation which has fulfilled its commercial goals can be converted to a trust foundation to ensure proper estate and wealth planning.
• Founders and members cannot make any ownership claims on assets in the Nevis offshore foundation; assets are part of an independent estate.
• Nevis Multiform Foundations have a wide range of commercial, estate planning and other purposes.
• Nevis foundations can be revoked, changed or amended.
• There are detailed laws for protection of assets including exclusion of foreign judgment laws.
• The foundation may open, own and operate bank accounts; it may buy and sell real estate.

Requirements for Nevis Foundation Establishment

When you order a Nevis foundation these are the specific conditions and requirements that must be fulfilled.

• You must use the services of a local agent (that’s us).
• Complete the Memorandum of Establishment (we provide that online).
• Pay up Government Fees (we include this in our fees).
• Prepare a set of By-laws — we will provide a sample draft for your use and we can assist in preparation.
• The management board must hold a meeting within the first month of registration, showing appointment of members. If you use our Nominee Package we will have the meeting minutes prepared and filed.

The Bodies of the Nevis Foundation

• The founder — Nevis foundations can be formed by individuals or corporate bodies.
• The Management Board — must have at least one Nevis member. That member can be a founder or a beneficiary. In our Foundation Regular Package you provide the council members. We provide NOMINEE foundation services in our Nominee Packages; your privacy is maintained when you use nominees as it is their names that show up on documents, not yours. We provide signed letters of resignation for the member and give you a Power of Attorney.
• Secretary — we provide the required Secretary for the Nevis foundation and this is included in the Foundation Packages.
• A Supervisory Board — although this is an optional position we recommend it for clients who use nominee services. You as the founder can empower another person (can be yourself) to oversee the foundation and the board. Once written in the Declaration of Establishment (DOE) or By Laws, the Guardian can have power to hire or fire board members, and has ultimate control of the operations of the foundation.

Nevis Foundation Maintenance Requirements

• Each foundation shall maintain a register (at the registered office) with particulars on past and present officers (board members, secretary).
• At least one annual meeting of the foundation is required by law. The foundation may hold such meetings anywhere.
• All Nevis foundations shall maintain accounting records that can show the board the foundations financial position at any time. This is not for public record.
• Nevis foundations must file annual returns in prescribed form — contains only information as on Memorandum of Establishment and changes that may have occurred during that year. It is not a financial return.
• Annual renewals must be paid up (through agent) to maintain the foundation on register. We will send annual notices to you in advance.

Nevis Offshore Foundations Restrictions

• Nevis Foundations are not allowed to own Nevis property or assets in Nevis.
• Must have appropriate license to conduct, banking, insurance or finance business activity.
• To maintain an international or offshore status, the foundation cannot include Nevis property, none of the founders or beneficiaries can be Nevis residents.

Nevis Foundation Documentation

Once you order a Nevis Foundation online, you will need to have the following:

1. Name of a Nevis foundation — must end with the word “Foundation” or an abbreviated form of the word, and must denote the type of multiform by using acceptable extensions.
2. Particulars on the initial subscription.
3. Multiform and particulars in respect to multiform.
4. Name and addresses of:
   1. Founder
   2. Management board member (nominee or personal)
   3. Secretary (we provide)
   4. Guardian (if desired)
   5. Designated beneficiaries (if any)
   6. Purpose of the foundation
5. Duration
6. Revocability
7. Provisions for powers, inclusion of Bylaws, and other lawful provisions

Once we have received payment and completed your order for Nevis foundation, you will be sent a Certificate of Registration as proof of existence. It is issued by the Registrar and contains only:

• Date of registration
• Name of foundation
• Nevis foundation registration number
• Initial multiform

The certificate is valid for one year from the date of registration, after which you must complete the renewal process. There are penalty fees for late renewals and if not renewed Nevis foundation can be struck off or terminated.

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