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Formation of a Nevis International Trust

The types of Trust that may be created under the Nevis International Exempt Trust Ordinance, 1994 as amended (“Ordinance”) includes:

1. Charitable Trust
2. Non-Charitable Trust
3. Spendthrift or Protective Trust and
4. Qualified Foreign Trust

The assets and income of a Nevis International Exempt Trust are exempt from all exchange controls and all forms of taxation and stamp duty in Nevis.

Requirements for setting up a Trust under the Ordinance

1. Due Diligence and background checks
2. A Valid Trust registered under the Ordinance. Prior to having the Trust registered, the Registered Agent must have in their possession a fully executed (original) copy of the Trust on file. The said Trust must be reviewed with a view to confirming that it conforms to the Regulations of the Ordinance.
3. In order for the Trust to qualify as an International trust under the Ordinance the following conditions must be met:
   1. At least one of the trustees must be:
      1. A corporation incorporated under the Nevis Business Corporation Ordinance
      2. A trust company doing business in Nevis
   2. The settlor or beneficiaries must at all times be nonresident
   3. The Trust property should not include any land situated in St Christopher and Nevis
4. Once the above conditions have been met, a letter of request must be sent to Financial Services. Such a request must contain the following information but is not limited to:
   1. The name of the Trust
   2. An indication that a valid Trust has been provided to you, the Trust has been reviewed and it conforms with the provisions of the Ordinance
   3. Outline name of the local trustee (as explained at section 3(a) above
   4. Date of creation of the Trust, if the Trust has been created for more than (three) 3 months, you must give a declaration to the effect that:
      1. There have been no changes to the International Trust
      2. That there is no illegal activity perpetrated by the Trust and/or
      3. There is no pending litigation against the Trust
   5. Settled date (date when final trustee signs)
5.  Pay requisite Registration fees.