Form of government:Parliamentary monarchy
Currency:East Caribbean Dollar (XCD)
Offshore Registration in Saint Kitts and Nevis
Requirements for the company
- The name must be absolutely unique (do not even coincide with one of the existing ones). It is written in Latin letters, it contains necessarily the phrase “Limited Liability Company” or the corresponding abbreviations: L.C., LLC, L.L.C., LC. If the name reflects a link to the financial services area, a special permit may be required.
- Citizens of any country of the world can act as founders;
- Nominee shareholders and directors are allowed;
- Local registered agent is needed, it is also necessary to register an office (virtual).
- There are no requirements to the size of the authorized capital. Mandatory payment of the authorized capital is not required;
- The structure of the company does not provide directors and employees, only board members which are equivalent to shareholders in the IBC and managers. Structuring is carried out on the basis of an operational agreement.
- There must be at least one board member in the company. There is no requirement for residency. Legal entities are allowed;
- Managers are appointed and dismissed by the board members by a majority of votes. There is a possibility to choose independent management, or to entrust it to the external manager. He does not have to be a board member and, as already mentioned, may have the status of a legal or natural person.
Choice of organizational and legal form of the company: LLC or IBC
It is possible to register a limited company (LLC) and an international business company (IBC) on the islands of Saint Kitts. Since any offshore is a tool, choosing the best option, you should determine the goals of the business. Classical IBC in Saint Kitts, i.e. an international business company, will do, if a large number of shareholders is planned and the possibility of transferring shares is considered, for example, into an inheritance. The name will be more flexible, you can choose the abbreviations: Inc, Ltd, A.G, etc. LLC is an analogue of LLC. In 99% this option is chosen, which guarantees reliable control over the offshore company, as there will be no shareholders, and the owners act as board members and can own the company, for example, in equal shares. Their liability is limited to shares, the distribution of income is stipulated in the contract. International company (IBC) is prohibited to conduct business in the country. There are no such restrictions with respect to the LLC.
The company in Saint Kitts is completely exempt from taxes.
What is included in the price?
- Certificate of Incorporation
- Certificate on submission of documents for registration
- Memorandum and Articles of Association
- Notarial certificate
- Appointment of the registration agent
- Appointment of board members
- Appointment of the first manager
- Power of Attorney in case of use of a nominal manager
- Consent of the manager to take office
- Letter on the release of the manager if used
- Τrust declaration in case of use of a nominal member of the board
- Transfer order in case of use of a nominal member of the board
- Operating Agreement
- Minutes of the First Meeting
- Share Certificates
- Agreement for the Provision of Nominee Services, if applicable
- Notarized Certificate of Collation
- Seal and other documents must be ordered separately.
If we consider the level of asset protection in different jurisdictions, Saint Kitts will be one of the international leaders. The registration of an offshore LLC in this country is the most secure alternative, if compared with a partnership or a corporation. It will provide the owner with a promising and very effective tool for further tax planning. The funds will be reliably stored, and a flexible corporate structure will allow to optimize business management.