Nevis is a small island part of the Caribbean archipelago in the Atlantic Ocean and with only a little more than 12’000 inhabitants. Living meanly from fishing and tourism, local people are quite poor and financial institutions based in the island are mainly hiring people from abroad. This island is a Commonwealth member and has a very business oriented legislation because based on the English model. The laws there are much more flexible and modern than in the European Union which is a strong asset and motivates many foreign investors to move their business into this jurisdiction. This almost unknown island in Europe guarantee a high level of confidentiality for those willing to open there an offshore bank account or to incorporate an offshore company.
The main benefits of this jurisdiction are:
At FCBA Offshore Ltd, we do recommend to our clients to either open an offshore bank account or to incorporate an offshore company in Nevis especially for people not having any business relation with European companies as this offshore jurisdiction could be considered as exotic by major international groups. On top of this, the huge hours difference with Europe in addition to the fact that the island is small and that a few international banks have a branch on the island lead us to doubt about the long term benefits of having any assets and making any offshore business in Nevis.
Finally, be aware that the initial deposit of your offshore bank account required by banks is quite low and should therefore by no means be a drag for you to open your offshore bank account.