Maybe you've heard about a jurisdiction called Nevis, and maybe you're familiar with the Nevis trust. In this case, you already know that this small island is one of the top trust centers in the world along with countries like Belize, the Cayman Islands, the Cook Islands and, surprisingly, some of the US states.

In our commitment to providing nothing but the best financial services and helping our clients achieve the ultimate freedom, we can't overlook a country like Nevis. If this is the first time you hear about Nevis trust formation, here are a few facts that will help you understand the importance of asset protection in Nevis.

The best asset protection in Nevis 

Recognized internationally

Many international publications like Time magazine describe Nevis as the Fort Knox of asset protection. In fact, this is not far from the truth because this jurisdiction brings excellent asset protection for HNWI individuals. The trust legislation of this island was modeled after the Cook Islands trust law making it as solid as a rock when it comes to protecting assets and saving them for the next generations.

Backed up by solid history and a firm regulatory framework

Like a Nevis  company or a Nevis LLC, the trust has proven to be quite protective. This is backed up by cases in which international authorities were not able to set aside the structure because this can only be done by the Nevis court. This means that no one will be able to touch your assets including ex-spouses, bankruptcy agents, creditors, and any other type of claimants. It's worth noting that Nevis trust formation will also protect you from a forced inheritance, a common problem in many countries.

Ultimate protection

If, by any chance, a person should decide to start legal action against your assets under the trust, he or she will have to proceed through Nevis law and this entails high legal costs and substantial deposits. This clearly discourages any person who wants to attack the trust or at least makes them think twice about it.

Flexible tax regime

Asset protection in Nevis is quite powerful because it helps you reduce tax erosion as well. If you're looking for a legal way to reduce your tax burden, this is it. Nevis is a jurisdiction with territorial taxation. 

Easy inheritance

Inheritance processes can be a nightmare and are usually quite expensive too. One of the perks of Nevis trust formation is the possibility to create a dynasty trust which allows families to hold their wealth under the structure virtually forever. Arrange your affairs in advance and rest assured that after you're gone your children and grandchildren will have access to your fortune. 

State-of-the-art banking

Although Nevis has subscribed to the CRS, it remains a confidential and safe banking jurisdiction. Gone are the days when people could just hide money away in a foreign country because international regulations don't allow that anymore. However, there are jurisdictions that offer financial advantages over others and Nevis is one of them. If you own a Nevis LLC or Nevis  company, you know what we're talking about. This island comes from a long tradition of asset protection and confidentiality and that doesn't just go away in a year or two. Luckily, Nevis is protective of the bank’s secrecy and preserves the information of their account holders to a very high degree. If there's a claimant against the trust, it will be very hard for them to obtain bank statements.

Ask for more information

Asset protection in Nevis: how to open a trust

Step one: ask for a free consultation with one of our Mundo experts. Our lawyers will be happy to discuss your particular requirements and figure out the best way to structure your trust.

Step 2: your Mundo representative will send you an invoice, a form and an AML questionnaire. The compliance process can be lengthy, but we help you streamline the process as much as possible.

Step 3: We issue the invoice and, once your payment is made, you send us the documents so that we can start the due diligence process. From that moment on, you will be in touch with your Mundo relationship manager, who will be your contact person. 

Step 4: We proceed to draft, revise, and sign the trust deed. If your package includes it, we ask for a legal opinion from an independent lawyer. 

Step 5: We establish your private trust company in Nevis.

Frequently asked questions about registering a trust in Nevis

So far, we have established that Nevis brings the best asset protection that you can get. Now, you probably have many questions, and the best way to address them all is through this FAQ section. We've created this section after long years of experience helping clients like yourself.

Who can be the trustee?

For an entity or a person to be a trustee in Nevis, there is no specific requirement to be a member of the Bar of Nevis. Private trustees can also fulfill this role. Furthermore, although the main trustee has to be a Nevis entity, co-trustees from different countries are allowed.

If your wealth is big enough, your asset base is complex, or you have many beneficiaries, things can get complicated in the future. Hence, it's always safer to err on the side of caution and hire yourself a professional trustee service like the one we offer at Mundo.

Who can be a protector?

Nevis trust formation allows for the assignment of a protector who can be an accountant, a company, a lawyer or simply a friend. This person will have veto power over some decisions adding an additional layer of protection to the structure. His or her powers will be determined on the trust deed, but they can include a variety of responsibilities like changing beneficiaries, appointing or removing a trustee or changing the deed.

Does the name of the settlor have to appear on public records?

No. The only condition is that the settlor's name is to be stated in the trust deed. There aren't any public records of Nevis trusts; yet, the settlor's information is held by the registered agent. 

Can my trust have a bank account?

Yes. Trusts can have a bank account, which is generally managed by the trustee. 

Is my trust tax exempted?

Nevis is a territorial taxation country, which means that all the assets derived abroad are not taxed. Nevertheless, we encourage you to consult with a tax expert about your specific case and the assets you are transferring to your trustee. Please note that tax matters are complex and should be assesed by tax experts specialized in every jurisdiction involved. 

What are the accounting requirements?

The trust deeds are private and confidential, and the trust is obliged to keep accounting records. On the other hand, filing tax returns is not mandatory. Mundo always recommends having an experienced accountant so that the records can be properly registered and held on the island of Nevis. Mundo provides accounting services as part of our packages with a system that makes data management simple. Non-resident trusts don't require filing returns, but the information must be kept in the country in the registered office.

How long can my trust last?

You can set it for any period of your preference, or it can be established in perpetuity.

Who are the discretionary beneficiaries?

These are the individuals who will receive the benefits from the trust throughout its lifetime. This can be your children (even those yet to be born), or other people or companies of your choice.

What happens if I fall into bankruptcy, or I become incapacitated or die?

You can insert certain provisions so that the trust will fulfil your wishes in case of death, bankruptcy or incapacity. In this case, the settlor writes a letter of wishes so that the trustee knows how to act in such a scenario.

What happens if I'm being sued?

Since the assets under the trust will not be legally owned by you, they will be protected against creditors. However, the lawsuit must be brought one year after the establishment of the trust for the assets to be fully protected.

Does Mundo have professional trustees?

Yes. We can help with trust registration and CBI programs in the Caribbean and Vanuatu.

Order now

Why get asset protection in Nevis with Mundo?

Mundo is an international publication running in different languages and backed up by the most reputable experts. Besides the described services, we can offer a set of complementary options for an extra cost. 

Our experts provide a wide array of brokerage services, management, investment advice, and Plan B strategies. In this case, we agree on the price on a case-by-case basis as the costs will depend on many factors. The nature of your assets, the number of assets, and the complexity of your structures and family are what determine the costs. All in all, this is more of an investment than a cost as it protects all your other ventures. Think about your Nevis trust as the ultimate investment that protects all others. If you find this article interesting and you are ready to protect your assets in perpetuity, contact us now. Your Mundo expert will be happy to assist you. 

Contacts us

Disclaimer: The information contained in this article is for informational purposes only and does not constitute financial advice or recommendations. Investing in financial products or cryptocurrencies involves risks, and you should be aware of the potential risks involved before investing. The content on this website is not intended to be a solicitation or offer to buy or sell any financial products or services. The information provided does not take into account your specific investment objectives, financial situation, or needs, and should not be relied upon as a substitute for professional financial advice. You should seek independent advice from a financial advisor or other professionals before making any investment decisions. Please be aware that the legal status of cryptocurrencies and other financial products may vary in different jurisdictions and may be subject to regulation. It is your responsibility to ensure compliance with any relevant laws and regulations governing the sale and marketing of financial products and services in your jurisdiction.