Valsen Corporate

Saint Kitts and Nevis Private Fund

  • Introduction The Nevis International Mutual Funds Ordinance 2004 and its accompanying Regulations provide a modern regulatory structure for mutual funds, their managers and administrators. Under the Nevis International Mutual Funds Ordinance, a mutual fund can be structures as a company, a partnership, unit trust or other similar body formed under the laws of Nevis or any other jurisdiction which collects and pools investor funds for the purpose of collective investment.
    Key Features The Nevis International Mutual Funds Ordinance allows for a Private Fund; which offers its shares on a private basis, has no more than 50 investors and is required to be recognized by the Minister of Finance upon proof that it is lawfully constituted.
    1. A Nevis International Private Fund must have a licensed and independent fund custodian.
    2. There must also be a licensed manager or administrator of the fund.
    3. Managers or Administrators who are not resident or domicile in Nevis and who are authorized to provide services under the laws of a recognized jurisdiction may operate from within Nevis after receiving written permission from the Minister of Finance.
    4. Additionally, a licensed or recognized Fund of a prescribed jurisdiction can easily be continued or re-domiciled in Nevis, if it is in good standing. The same re-domiciliation privilege is given to the investment manager and administrator of that existing Fund.
    5. Minimum number of directors is two natural persons.
    6. The Nevis International Mutual Funds Regulations set the annual licence renewal fee at USD 200 for Private Funds.
    Legal Requirements
    Requirements

    Description

    General
    • Corporate  vehicle permitted

    St. Nevis Company, Partnership or Unit Trust
    • License application fee

    USD 200
    • Annual license fee

    USD 200
    • Local physical office required

    No

    Share capital or equivalent
    • Minimum subscription

    None
    • Minimum investors

    50

    Directors
    • Minimum number

    2
    • Corporate directorship allowed

    No
    • Local director required

    No

    Service Providers Required
    • Custodian

    Yes (from anywhere)
    • Fund manager/Investment manager

    Yes (from anywhere)
    • Fund administrator

    Yes (from anywhere)
    • Auditors

    Yes
     Tax Treatment Corporate income tax is only payable for locally generated profit, transactions made solely to non-resident entities is not subject to tax. Duration to Set Up Around 3 months Distinctive Benefits of Licence
    • Numerous tax advantages
    • Ease and speed of licensing
    The Valsen Advantage
    • End to end comprehensive service
    • Speedy and efficient service
    • Expert advice on structuring options
    • Dedicated ongoing compliance support
    • Extensive network pool of service providers