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Nevis: Types of Company

International Exempt Trust

These trusts are formed under the Nevis International Exempt Trust Ordinance of 1994, as amended to September 2000. The Trust Ordinance includes special provisions to enhance the use of Nevis as a preferred jurisdiction for the establishment of Asset Protection Trusts.

Highlights of the Trust Ordinance include:

  • Exemption from all forms of Nevis taxation and exchange controls provided that transactions take place only with non-residents;
  • The trustee may be either a trust company licensed to do business in Nevis or a company incorporated under the Corporation Ordinance;
  • The proper law may be the law of Nevis or the law of another jurisdiction;
  • The rule against perpetuities does not apply;
  • Forced heirship rules are specifically excluded;
  • Spendthrift and charitable trusts are permitted;
  • There is a USD25,000 bond requirement prior to the commencement of an action or proceeding against trust property;
  • There is no registration requirement other than for the Trust's name, name of Trustee and the registered office address;
  • Settlor and Beneficiary must be non-residents and may be the same person;
  • One trustee must be a Nevis offshore company or a trust licensed company;
  • Protectors are allowed for and may be the same person as the Settlor and Beneficiary of the Trust;
  • An IET is valid and enforceable notwithstanding that it may be invalid according to the law of the Settlor's domicile or residence or place of current incorporation;
  • The Trust is not considered fraudulent if settled up to 2 years after the date of the creditor's cause of action;
  • The creditor must prove the intent of the debtor to defraud with "clear and convincing" evidence;
  • The Statute of Queen Elizabeth is excluded.



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