Nevis

Saint Kitts-Nevis, officially the Federation of Saint Kitts and Nevis, is located in the eastern Caribbean Sea and consists of the islands of Saint Kitts (Saint Christopher) and Nevis. Formerly one of the West Indies Associated States, it became fully independent from the United Kingdom in 1983.

The Population is 40,061 (1992 est.), about 75% of which live in Saint Kitts, where the capital, Basseterre, is located. A fertile volcanic island of 168 sq km (65 sq mi), Saint Kitts rises to 1,156 m (3,793 ft) at the peak of Mount Misery. The dense vegetation is dominated by flowering shrubs and sugarcane and cotton fields. Nevis, 3 km (2 mi) southeast of Saint Kitts, is a circular volcanic formation with an area of 93 sq km (36 sq mi). It consists mostly of Nevis Peak, 985 m (3,232 ft) high, but has beautiful beaches. The country’s main sources of income are tourism and sugarcane.

Originally inhabited by the Carib Indians, the islands were discovered by Christopher Columbus in 1493 and settled by the British in the early 17th century. In 1967, with Anguilla, the islands were granted autonomy. Anguilla withdrew from this union in 1971. In September 1983, Saint Kitts-Nevis became an independent state within the Commonwealth, with Dr. Kennedy A. Simmonds as prime minister. He was returned to power in 1984 and 1989 elections. In 1989, Hurricane Hugo caused much property damaged on Saint Kitts-Nevis.

Nevis is a small nation 1,300 miles southeast of Miami, and 225 miles east of Puerto Rico. Nevis is one of the latest of the Leeward Islands to become a full-blown no tax haven.

Under the Nevis Business Corporation Ordinance of 1984 tax holidays are provided to companies that carry on business outside Nevis.

There are no corporate income taxes, no stamp taxes, no withholding taxes, no personal income taxes, and no tax on assets based outside Nevis. Today, an International Business Corporation (IBC) can probably receive a guarantee against the future imposition of taxes from the government. Nevis has no tax treaties with any nation. Nevis government will not exchange tax information with any foreign revenue service.

Costs of incorporating in Nevis are very reasonable compared with the high profile Caymans. A Nevis IBC can be formed for under $1,000. This figure includes the minimum capitalization tax of $200 and formation fees of $600. The Nevis incorporation process is streamlined and fast. Nevis has a redomiciling section in their statutes. You can bring a Panamanian or British company into Nevis and it will keep its original name, its date of original formation, and will its original name, its date of original formation, and will have a certain amount of time to bring its Articles of Confederation into conformity. Nevis legal system, like many other English-speaking islands, is based on New York or Delaware law, thus the articles and memorandum are easily transformed.

There are no disclosure requirements for shareholders or directors, and recording of financial statements are not a matter of public record. A Nevis company may keep its records outside Nevis, and may have its principal office outside the capital, Charlestown, anywhere in the world.

Nevis is a member of the Caribbean Community (called CARRICOM) along with Antigua, Barbados, the Bahamas, Bermuda, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts., Saint Lucia, St. Vincent and Trinidad & Tobago. Like most other Commonwealth countries the language is English.

The east Caribbean dollar is the official currency of Nevis and also of Anguilla. It is equivalent to US$0.37. Nevis has excellent banking facilities, as well as cable and wire services.

Major banks such as Barclays International, Royal Bank of Canada and the Bank of Nova Scotia are located on this island nation. 21. At least five airlines carry cargo on a regular basis into the island. The island of St. Kitts nearby boasts a deep-water harbor at Bird Rock. Ships carrying cargo to Africa, Europe, the U.S.A. and South America frequently dock here.

Grenada is located in the South Windward Islands. It is an independent member of the Commonwealth. With a population of 110,000 and 133 sq. miles of turf, Grenada has potential as an offshore base.

Recently, the government of Grenada announced an overall development plan designed to make Grenada a tax haven along the same lines as Cayman, Bermuda and the Bahamas. If Grenada succeeds, it will join the ranks o these other tax haciendas as an idea station for offshore investment companies to trade in U.S. stock markets tax-free. 

In addition to the main island of Grenada the nation also includes the nearby smaller islands of Carriacou, Petit Martinique, and several islets of the Grenadine Islands. Grenada is a volcanic, mountainous island. Grenada is a volcanic, mountainous island with little level land. Numerous streams, springs, and mountain lakes are found on Grenada, and alluvial river valleys provide fertile soil for farming. The island is heavily wooded with teak and mahogany. Grenada’s climate is tropical, with an average annual temperature of 23 degrees C (78 degrees F) and with rainfall ranging from 1,525 mm (60 in) on the coast to 4,190 mm (165 in) in the mountains.

About 85% of the population is of black African descent; the remainder are chiefly mulatto or of East Indian descent. English is the official language, but many Grenadians speak a French patois. The majority of the population is Roman Catholic. Education is free and compulsory for children between the ages of 6 and 14.

Agriculture is the mainstay of the economy, employing 40% of the labor force and accounting for most of the foreign-exchange earnings. The chief export crops are nutmegs and mace, cocoa, and bananas. Food crops are also produced for local consumption. Tourism is important to the economy, helped by a new airport (1984). Grenada must import many products and commodities to satisfy its needs; imports consistently far exceed exports. The nation is also heavily dependent on foreign aid.

Christopher Columbus was the first European to discover Grenada, in 1498. The island was settled by the French in 1650; subsequently it was held alternately by English and French until 1783, when the island was ceded by treaty to Britain. Grenada remained a separate British colony until 1958 when it joined the Federation of the West Indies; in 1967, Grenada became one of the West Indies Associated States. Independence, within the Commonwealth, was achieved in 1974.

Sir Eric M. Gairy was prime minister of Grenada until 1979, when he was overthrown by the Marxist New Jewel Movement, led by Maurice Bishop, which established a People’s Revolutionary Government. On Oct. 14., 1983, Bishop was ousted by another New Jewel faction and then murdered. On October 25, a U.S. task force invaded the island, allegedly to forestall a Cuban and Soviet military buildup there. Subsequently, Sir Paul Scoon, the governor general, appointed an interim government. By December all U.S. combat troops had gone. Following elections in December 1984, Herbert A. Blaize became prime minister. He died in office in 1989. Nicholas Braithwaite was elected prime minister in 1990.

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