Offshore jurisdictions with the maturity and economic growth of Nevis generally tend to take a positive approach towards providing quality and diverse offshore services, and neither is it atypical for an array of financial offshore services to be introduced to complement progress in tourist arrivals and FDI. Such has been the case of Nevis, which for the past 10 to 15 years transformed into a haven for Nevis offshore companies, real estate and luxury vacations.

Nevis offshore banking services are integral to enterprise construction, similar to Panama company incorporation, as many offshore companies find it convenient and are comforted to be able open an offshore account in the same jurisdiction that they are registered.

There is one major offshore bank in Nevis which provides a full gamme of international banking products and services to its customers. Amongst its clientele, full banking offshore services in Nevis are available to international business companies, limited liability companies (LLCs), trusts registered in Nevis. For the investor, long-term investment opportunities are accessed through brokerage services, offshore mutual funds, custody and investment management, equity, alternative and fixed income investments, certificates of deposit, pension, estate and financial planning services.

Nevis offshore banking services are regulated by the Eastern Caribbean Central Bank (ECCB) and the Eastern Caribbean Securities Exchange (ECSE) which are two reputable institutions charged with the responsibility of maintaining currency stability, economic prosperity and the effective implementation of financial regulations of countries in the OECS Economic Union.

Offshore company incorporation is a significant income earner for the island of Nevis, which passed various legislations to govern and regulate the offshore sector. Legislations regarding Nevis offshore services deal with the steps and requirements necessary to incorporate offshore companies in Nevis, the powers and purposes of each type of Nevis offshore entity and their prohibitions. The Exempt Insurance Act, Exempt Trust Act and the Nevis Business Corporations Act are only a few examples of the enactments for Nevis offshore services.

Nevis is home to the Multiform Foundation which very often is treated as the highlight of offshore services due to the entity’s innovative structure. Not in any way inferior to the Nevis multiform foundation, Nevis offshore companies (Nevis Business Corporation), exempt trusts and LLCs as offshore investment vehicles that are highly sought after by corporations, firms and individuals alike.

Multiform Foundations in Nevis, however, are distinguished from other offshore corporate forms as a result of their structural superiority as hybrid legal entities that are able to convert from one Nevis offshore entity to another. Nevis offshore foundations are a demonstration of the deep thought and time dedicated to building offshore services in Nevis.

Whilst Nevis offshore company incorporation services provide for smooth company formation, it is required that offshore companies be incorporated through an agent, which is licensed, registered and authorized by the government of St. Kitts and Nevis to act in the capacity of offshore service providers. An agent can be an individual (lawyer or accountant, businessman) or a legal entity.

Nevis offshore service providers in themselves are offshore companies which are registered in Nevis. The offices of Nevis offshore agents are physically located in Nevis but the services are restricted to be offered only to foreign residents. For any agent, creating and maintaining an internationally based clientele requires the necessary electronic facilities and modernized networking system in order to ensure that quality and efficient Nevis offshore services are provided.

In Nevis, offshore service providers are supervised by the Nevis Financial Services Commission which is the primary body set up to avoid mal practice within the financial services sector. The offshore sector covers a number of areas within the offshore financial services sector such as mutual fund administration, trustee services, international offshore banking, offshore insurance companies and offshore company incorporation. Offshore banking, though also monitored by the FSC, is mainly regulated by the Eastern Caribbean Central Bank (ECCB).