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With the enactment of the Nevis Limited Liability Company Ordinance (LLC), the island of Nevis boasts the most state-of-the-art LLC legislation in the world, aimed at solving many of the problems that perturb lawyers and business persons using or hoping to use LLC's. The Nevis LLC is a business entity that provides an alternative to those who might consider using corporations or partnerships. It is analogous to limited liability companies springing up throughout the U.S., to limited life companies elsewhere in the Caribbean; to GmbH in Germany; to SARL in France and to Limitadas in Latin America.
Structure of an LLC
The United States Internal Revenue Service has indicated that limited liability companies generally may be taxed either as corporations, or as partnerships, with income and losses flowing through to the members without any incidence of tax effects at the entity level. The Nevis LLC Ordinance permits planners to structure their Nevis LLC in any manner that suits their particular needs. The Nevis LLC can be used for any business venture or professional practice anywhere in the world outside Nevis, including international financing arrangements, for U.S. or non U.S. operations, real estate holdings, manufacturing concerns and operational or investment vehicles for offshore trusts.
Protection from creditors
Most international LLC statutes protect the company's assets from the creditors of its members through the limitation of creditors to a charging order. The Nevis LLC Ordinance further specifies that this is the exclusive remedy available to the creditor and also gives the company the power to redeem the interest of creditors.
Basic Information about Nevis Limited Liability Company
The Nevis Limited Liability Company (LLC) is a business entity that provides
an alternative to those who might consider using corporations or partnerships.
The Nevis LLC is governed by the Nevis Limited Liability Company Ordinance 1995,
which is one of the most state-of-the-art LLC legislation in the world.
The owners of Nevis LLCs are referred to as members, who may be thought
of in the same way as one thinks of partners in a partnership or shareholders in a corporation.
Benefits:
No taxes.
The name of a company must end in one of the following: "Limited Liability Company", "LLC", "L.L.C.", "LC" or "L.C.".
Minimum one members. No residency requirements.
Minimum one managers. No residency requirements.
Total confidentiality and anonymity; no requirements to disclose beneficial owners, members and managers.
No audit.
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