Offshore trusts in Nevis can be utilized in various ways, including as an alternative to a will. They are ideal for those seeking to transfer assets by inheritance with the utmost confidentiality and without a lengthy official process. Nevis is one of the most reliable jurisdictions for establishing trusts, and we have helped many clients get set up in this jurisdiction. The relevant legislation, in effect since 1994, allows for considerable flexibility in trust customization. Trusts in Nevis are employed to secure assets, bequeath property, or protect it against dissipation by heirs.
Trusts can be revocable or irrevocable. Irrevocable trusts offer limited control over the trust and are primarily used for asset protection. Revocable trusts provide greater flexibility and are most commonly utilized as an alternative to a will.
Advantages of a Revocable Trust in Nevis as an Alternative to the Will
Why are trusts in Nevis convenient as an alternative to a will?
- Confidentiality: A traditional will implies openness, which means that under certain circumstances, anyone can access information about your property and the shares allocated to each heir. A trust ensures confidentiality for the ultimate beneficial owners (beneficiaries).
- Special conditions for inheritance transfer: You can specify who will receive what, under what conditions, and at what age. This provides significantly more control compared to a traditional will.
- Protection against forced inheritance: You determine the distribution of assets, and it is extremely difficult for others to intervene in this process.
Additionally, similar to a will, you can easily modify the conditions of a revocable trust, change protectors and beneficial owners, or even cancel the trust at your discretion.
You can transfer any type of asset (both tangible and intangible) to the trust. The only limitation for an international trust in Nevis is that it cannot own real estate in Nevis itself. Under certain conditions, assets are tax-exempt.
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Disadvantages of a Revocable Trust in Nevis
For a comprehensive perspective and effective strategy planning, it is important to consider the drawbacks of a revocable trust in Nevis, which stems from its “revocable” nature. The trust founder maintains a high level of control over the assets, even after nominally placing them in the trust.
The ability to easily modify the terms of the trust, its protectors, and beneficiaries does not fully separate the owner from the assets. Consequently, the individual may still be required to pay taxes on the income generated by these assets, and the trust is unlikely to provide protection against creditor claims.
For enhanced asset protection, we recommend utilizing an irrevocable tax-exempt trust in Nevis. Such a trust offers greater security in this context.
Additionally, you can create a structure comprising multiple companies, trusts, and funds, each addressing its specific objectives. These elements can be established in different jurisdictions. Nevis remains one of the premier locations for asset protection, applicable to both business companies (BCs) and trusts.
Requirements for Revocable Trust Registration in Nevis as an Alternative to the Will
To successfully register a revocable trust in Nevis, several conditions must be met:
- The trust may have a settlor, or you can simply declare that certain assets are transferred to the trust property; in the latter case, the settlor’s name does not appear in the trust agreement.
- The settlor can be either an individual or a legal entity.
- The trust must have at least one trustee, with at least one trustee being a trust company or an international business company (IBC) in Nevis.
- The trust must have at least one beneficial owner, which can be individuals, classes of individuals, or relatives. The trust protector or settlor may also serve as a beneficial owner if desired.
- Both the trust founder and the beneficial owners must remain non-residents of Nevis at all times.
- Nevis International Trusts are prohibited from owning real estate within Nevis.
- The trustee (or protector) is appointed by the settlor. This role can be filled by a relative of the settlor, a specially hired professional, the settlor themselves, or another designated trustee.
The Trust Deed is a crucial document that outlines the structure, characteristics, and objectives of the trust. It is a private document and does not require state registration.
Cost of services
| LLC/IBC Registration | USD | Terms of service provision |
| The basic package of corporate documents includes: Certificate of Incorporation Endorsement Certificate Articles of Incorporation Certificate of Notary Public Designation and Acceptance of Registered Agent Transfer of Subscription Rights Appointment of Director (minutes) By-Laws Written Resolution of Director Register of Directors Register of Officers Register of Shareholders Share Certificate(s) | USD 1,899 | 2-3 business days |
| Apostille Package: Certificate of Incorporation Endorsement Certificate Articles of Incorporation Certificate of Notary Public Designation and Acceptance of Registered Agent Transfer of Subscription Rights Appointment of Director (minutes) By-Laws Written Resolution of Director Register of Directors Register of Officers Register of Shareholders Share Certificate(s) One set of apostilled copies of corporate documents | USD 2,499 | 5-6 business days |
| Apostille Package + Full Nominee Service: company registration payment of a state duty for registration services of the Registration Agent in Nevis registered office (legal address) in Nevis one set of original corporate documents one set of apostilled copies of corporate documents Nominee Director/Manager** original apostilled power of attorney Nominee Shareholder/Member** Trust Declaration (original) one set of copies of the nominee’s apostilled corporate documents one set of copies of corporate documents Certificate of Good Standing Certificate of Incumbency power of attorney (copy) Declaration of Trust (copy) copy of passport copy of a utility bill a reference letter from the bank or account statement delivery by courier worldwide | USD 7,949 | 6-8 business days |
| Company Annual Renewal Fee: payment of state duty for renewal services of the Registration Agent in Nevis registered office (legal address) in Nevis scanned copy of a Renewal Certificate | USD 1,699 | 3 business days |
| Annual fee for Nevis company nominees: | ||
| Nominee Director/Manager (Nevis corporation) | USD 1,399 | 1 business day |
| Nominee Shareholder/Member (Nevis corporation) | USD 1,399 | 1 business day |
| Nominee officers (Nevis corporation) | USD 1,399 | 1 business day |
| Additional documents after incorporation: | ||
| Notarized set of copies of corporate documents | USD 600 | 1-2 business days |
| Notarized and apostilled set of copies of corporate documents | USD 799 | 2-3 business days |
| Copy of the Certificate of Incorporation | USD 400 | 1-3 business days |
| Preparation of registers: Managers/Members/Shareholders/Directors/Officers | USD 200 | 2 business days |
| Preparation of Minutes of the First Meeting of the Board of Directors | USD 450 | from 2 business days |
| Certificate of Shares | USD 200 | 2 business days |
| Company search | USD 500 | 2-3 business days |
| Simple Power of Attorney | USD 399 | 1 business day |
| Notarized Power of Attorney | USD 599 | 1-2 business days |
| Apostilled Power of Attorney | USD 799 | 2-3 business days |
| Simple Trust Declaration | USD 400 | 1 business day |
| Notarized Trust Declaration | USD 600 | 1-2 business days |
| Apostilled Trust Declaration | USD 800 | 2-3 business days |
| Additional certificates after company registration: | ||
| Certificate of Good Standing (Simple) | USD 680 | 2-3 business days |
| Apostilled Certificate of Good Standing | USD 880 | 2-3 business days |
| Certificate of Incumbency (Simple) | USD 490 | 1 business day |
| Certificate of Incumbency (Notarized) | USD 690 | 1-2 business days |
| Certificate of Incumbency (Notarized and Apostilled) | USD 890 | 2-3 business days |
| Letter of Tax Exemption | USD 500 | 2-3 business days |
| Apostilled Letter of Tax Exemption | USD 700 | 2-3 business days |
| Certificate of Company Dissolution | USD 1700 | up to 7 business days |
| Certification of documents: | ||
| Certification signed by the registration agent (per document) | USD 150 | 2 business days |
| Notarization (per document) | USD 200 | 2 business days |
| Certification with apostille (per document) | USD 250 | 2-3 business days |
| Letter of Certification from the Register | USD 500 | 5 business days |
| Change of company/capital/structure name: | ||
| Change of company name (without a seal) | USD 800 | up to 7 business days |
| Change of company name (with a seal) | USD 1,220 | up to 7 business days |
| Change of authorized capital | USD 1,625 | up to 7 business days |
| Change of Officers/Directors/Managers (including drafts, registers) | USD 800 | up to 5 business days |
| Change of Shareholders/Members (including drafts, registers, and up to 2 Certificates of Shares) | USD 800 | up to 5 business days |
| Transfer of shares/ownership includes the Minutes and up to two new Certificates | USD 1,200 | 5 business days |
| Amendment of the Articles of Association (addition of a paragraph, change of capital, any change in the company Articles of Association stamped by the Register) | USD 1,200 | up to 7 business days |
| Re-issue of constituent documents | USD 1,625 | up to 7 business days |
| Making changes to the company after registration: | ||
| Continuation (Change of the country of incorporation) | USD 2,520 | individually |
| Certificate confirming the change of jurisdiction | USD 1,200 | up to 7 business days |
| Company transfer to Nevis | USD 1,500 | individually |
| Fast-track company transfer to Nevis | USD 3,000 | up to 7 business days |
| Restoration of the company deleted from the Register | USD 1,700 | 2-3 business days |
| Company dissolution | USD 1,700 | up to 7 business days |
| Transfer Out (Change of registration agent) | USD 1,999 | 2-3 business days |
| Transfer In (Change of registration agent) | USD 500 | individually |
| Other services: | ||
| Signing a document by a nominee from Nevis: one signature on a corporate document (per 1 document) one signature on the bank form (per 1 document) | USD 160 USD 320 | 1-2 business days |
| Scanned copy of the document (per 1 page) | USD 100 | 1 business day |
| International courier delivery | USD 200 | 2-4 business days |
| Rush fee (quick document preparation) – cost per one operation | USD 150 | 2 business days |
| Negotiated Services: | ||
| Services of a professional director | USD 3,400 | individually |
| General consultation | contractual | individually |
| Legal advice | contractual | individually |
| Substance for Nevis Company: | ||
| A financial report (up to 20 transactions) | USD 1,900 | individually |
| A financial report (from 20 transactions) | from USD 1,900 | individually |
| Website development fee for State Registration & Registration Agent | cost depending on complexity | individually |
| Virtual Office (Panama) Address Mail/Delivery to courier Telephone with a recording function | USD 3,000 | up to 7 business days |
Assets That Can Be Transferred through a Trust in Nevis
You can transfer any type of assets, both tangible and intangible, to a trust in Nevis. This includes cash, bank accounts, real estate (excluding property located in Nevis), company shares, copyrights, bonds, and other securities.
It is your prerogative to designate which heirs will receive specific assets from the trust. You can choose to allocate all assets to a single individual or distribute them among multiple beneficiaries according to their entitlements.
Typically, such trusts execute the settlor’s wishes after their death. Prior to this, you have the flexibility to make modifications or even revoke the trust as needed
The Cost of Establishing and Maintaining a Trust in Nevis
Here is what you typically pay for during trust registration:
- Registration fee
- Due Diligence fee
- Registry filing fee
- Registered Agent and Office fee
- Gift statement or transfer placing assets on the balance sheet
- Services of our private trustee company to serve as trustee and carry out the documentation-keeping functions of a trustee with all standard due memorandum and record-keeping
- Drafting of the Trust deed by a specialist Trust Lawyer based on your questionnaire and/or a video meeting.
The cost is for our package, in total, typically around USD 9750, plus some fees which are not included, but we will explain all fees you can anticipate in our complimentary consultation.
Expenses on annual maintenance of the trust:
- Trustee’s fee
- Due diligence
- Annual renewal in the register
- Fee for the legal address
- Bank fee
- Basic accounting services (up to 10 transactions per year)
The price can vary, typically costing from $5,000 to $10,000.
There are additional services, such as a protector, professional trustee service, and others, from our experts.
Documents Required for Trust Registration in Nevis
While the Nevis Trust ensures confidentiality, the island adheres to international standards for transparency and client verification. Trust settlors, protectors, and beneficial owners must undergo due diligence to ensure compliance with legal requirements.
To register a trust in Nevis as an alternative to a will, you will need to provide the following documents and complete a questionnaire (found at the end). This will help meet due diligence requirements and expedite the registration process.
Required documents for settlors and protectors:
- Certified copy of passport
- Original or certified copy of proof of residence (no older than 3 months)
- Original or certified copy of a bank reference letter
- Original or certified copy of a professional letter of recommendation
- Prepared CV
Required documents for beneficial owners:
- Certified copy of passport
- Original or certified copy of proof of residence (no older than 3 months)
Legal entities organizing a trust must provide corporate documents as well. Registration agents may also request additional documentation as necessary.
The Procedure of Registering a Trust in Nevis as an Alternative to the Will
- Complete the questionnaire below and contact us at info@qwealthreport.com
- Agree on the details of work with the portal consultant
- Pay for the service of trust registration in Nevis. You can pay by bank transfer, cryptocurrencies, plastic card, PayPal, Western Union, and WebMoney.
- Provide a complete set of documents for the settlor, protector (trustee), and beneficial owners of the trust.
- We proceed with the trust registration after we receive a full package of documents and payment.
