Register a company in Nevis with a bank account in Dominica

We invite you to consider the possibility of registering a business company in Nevis, which will effectively protect your assets and allow keeping your personal information confidential. A multicurrency corporate bank account in Dominica will make it possible to use both fiat and electronic money. The bank administration does not mind servicing offshore companies. Both the company and the bank account can be opened remotely.

Company registration in Nevis

Nevis is considered a classical offshore jurisdiction with everything that the status implies: asset protection, minimal taxes, and the opportunity to do business all around the world.  

A single person can act as the company owner and director. The company founders, shareholders and directors’ personal data will remain confidential. If the company has several shareholders, it shall have minimum three directors. Legal entities or private individuals can act as company directors. The shareholders and directors’ residency does not matter.

It is possible to use nominee shareholders and directors for the Nevis-registered company. In this case, only private individuals can act as company directors.

However, we do not recommend that you use nominees at the stage of initial company registration. It is going to make setting up the company and especially opening the corporate bank account more difficult.

It is important to understand that Nevis authorities have to temporize with international organizations in order to avoid being on the black list of offshore jurisdictions. For this reason, the personal information about resident company beneficiaries is going to be disclosed on a well-grounded official request.

Exemptions from the capital gains tax, profit tax, inheritance tax, and so on are in effect until June 30, 2021. At the moment, new economic principles are designed that will govern the country’s economy in the near future. 

Nevertheless, Nevis remains an attractive jurisdiction where you can safely keep your assets. The law courts in the country completely disregard the decisions made by courts of law located in foreign jurisdictions. This makes it difficult for creditors to lay their hands on Nevis company assets on the condition that these are legally registered in the country.

There are no requirements as to the company charter capital in Nevis. We recommend that you register US$ 50,000. You can simply declare the charter capital without having to put the money on your bank account. 

The Nevis legislation requires that you keep financial records but auditing them is not necessary. We recommend staying legal anyway and keep the books in proper order. These days, you have to prove the legality of your sources of income wherever you go and banks in particular want to have supporting documents for all transactions.

The company that you establish in Nevis can have this or that form of ownership and its name can end in Ltd, Limited, S.A., A.G., and so on. There are certain words that you cannot use in the company name such as ‘association’, ‘e-commerce’, ‘offshore’, ‘money’, and others.

Documents required for registering a company in Nevis

You will have to submit scanned copies of the following documents:

• Legalized foreign passport copies for all prospective company owners;
• Proofs of residential addresses for all of them (utility bills or bank statements not more than three months old);
• Due Diligence form and Order form – completed and signed.

The company can be registered in Nevis within five to seven business days since the date of the document package submission.

The costs of company registration and maintenance

Registering a company in Nevis will cost you 1,899 USD. The price includes obtaining the following corporate documents:

• Certificate of Incorporation
• Articles of Incorporation;
• Endorsement Certificate;
• Company By-Laws;
• Appointment of Director(s);
• Transfer of Subscription Rights;
• Share Certificate(s);
• Notary Public Certificate;
• Designation and Acceptance of Registered Agent;
• Written Resolution of Directors Meeting;
• Register of Directors;
• Register of Shareholders;
• Register of Company Officers.

Company maintenance in Nevis is going to cost you 1,699 USD. The price includes:

• Registered agent’s services;
• Company registration extension fee;
• Registered legal address in Nevis;
• A scanned copy of the company registration extension certificate.

Opening a bank account in Dominica for your Nevis-based company

The Dominican bank that we are advertising here offers a large spectrum of banking services. It has close ties with its European divisions, which allows it to be quite flexible in servicing the clients. The bank Compliance Department is located in Europe and it processes the applications for services in a timely manner.

You are going to have a bi-currency account: in euros and US dollars. 

The account can be opened remotely without a personal visit to the bank.

The bank has a number of correspondent accounts in different countries such as Canada, Lithuania, Portugal, Great Britain, and others.

When you set up a corporate account with the Dominican bank, you can order Visa and MasterCard debit cards. There is also the possibility to connect to crypto exchange platforms if you would like to trade in cryptocurrencies.

The account can be managed from anywhere in the world via Internet banking and mobile applications. The transactions are made via SWIFT and SEPA systems.

The bank is part of an international group of companies. 

The bank service fees will look especially attractive to high-risk businesses whose monthly turnover exceeds US$ 50,000. The owner of a ‘regular’ (medium- or low-risk) business may find the bank fees rather high.

The following documents are required to set up a corporate account in the Dominican bank:

• Proof of residential address less than three months old;
• Legalized foreign passport copies for all company owners and directors;
• Legalized copies of the company by-laws and the extract from the company Register;
• Legalized copies of the company Registration Certificate and the Share Certificate(s);
• A legalized copy of the Certificate of Good Standing;
• The original of the letter of recommendation addressed to the bank.

The bank may request additional documents if necessary.

The cost of opening a corporate account in the Dominican bank is 3,999 EUR.

You have to realize that the bank Compliance Department is going to check each applicant meticulously. This especially concerns offshore companies. For this reason, the application processing is going to take some time. However, your Nevis-registered company has better chances to set up a business account with this bank than with many other banks. What you have to do is prepare the application documents with care. 

The procedure of registering a company in Nevis and setting up a corporate bank account in Dominica

Offshores are still in play but they have to be handled a bit differently than before. We will gladly assist you with that! Should you have any questions, please contact us at the address specified above or use Whatsapp and the live chat.