noobs
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How to Avoid Paying Tax on a Business Legally
By: @noobs
Nevis of Saint Kitts and Nevis has unique laws that are great for offshoring businesses.
Unique characteristics of LLCs and Trust
The Nevis International Exempt Trust Ordinance governs the establishment and operation of international trusts in Nevis. It protects against lawsuits, to file a lawsuit against a Nevis trust, a manditory fee of 100,000$ is required. Irrevocable trust have a extra layer of privacy due to the nature of them, there is no owner of an irrevocable trust, but theres beneficaries of irrevocable trust, that dont directly own it, but just manage and get paid by it. There is three roles in this type of trust, but one person can be all three. Grantor/Settlor: The person who establishes the trust and transfers assets into it. Trustee: The individual or entity responsible for managing the trust and its assets. Beneficiaries: Those who benefit from the trust (receive distributions or other benefits). The minimum cost to form a trust in nevis is 4,000$.
The Nevis Limited Liability Company Ordinance is for LLCs. Creditors can obtain a charging lien against your Nevis LLC distributions, but cannot foreclose your LLC. The cost to register an LLC is 220$ annually, 100$+ if late.
Overlapping characteristics
Both a LLC and trust in nevis have laws that protect against all freezing of assets in non-monetary crimes, and even if you commit a monetary crime, its only legally valid for 2 years. Both have laws that makes it so trusts that are formed under this are tax-exempt for income generated outside and inside of Nevis. Both have laws that protects against heirship, so relatives are automatically entitled to your posseisions when you die. Nevis courts do not automatically recognize charging orders issued by U.S. courts. In theory, a U.S. creditor must apply for a separate charging order in Nevis. There is no tax for a Nevis LLC at home and abroad.
Privacy
There are no requirements to disclose beneficial owners of a Nevis LLC to the general public or file copies of manager details with any public registry in Nevis. While the government encourages local agents to maintain registers of such information at their offices, this information remains confidential. A Nevis LLC is allowed to appoint a nominee member for privacy purposes. The manager of a Nevis LLC doesn’t need to have any ownership but can control all operations and assets. Nevis has strong privacy laws that prevent the registration, filing, or disclosure of LLC owners’ identities. Initial or annual director filings are not required in Nevis, ensuring that the identity of owners and managers remains confidential.
By: @noobs
Nevis of Saint Kitts and Nevis has unique laws that are great for offshoring businesses.
Unique characteristics of LLCs and Trust
The Nevis International Exempt Trust Ordinance governs the establishment and operation of international trusts in Nevis. It protects against lawsuits, to file a lawsuit against a Nevis trust, a manditory fee of 100,000$ is required. Irrevocable trust have a extra layer of privacy due to the nature of them, there is no owner of an irrevocable trust, but theres beneficaries of irrevocable trust, that dont directly own it, but just manage and get paid by it. There is three roles in this type of trust, but one person can be all three. Grantor/Settlor: The person who establishes the trust and transfers assets into it. Trustee: The individual or entity responsible for managing the trust and its assets. Beneficiaries: Those who benefit from the trust (receive distributions or other benefits). The minimum cost to form a trust in nevis is 4,000$.
The Nevis Limited Liability Company Ordinance is for LLCs. Creditors can obtain a charging lien against your Nevis LLC distributions, but cannot foreclose your LLC. The cost to register an LLC is 220$ annually, 100$+ if late.
Overlapping characteristics
Both a LLC and trust in nevis have laws that protect against all freezing of assets in non-monetary crimes, and even if you commit a monetary crime, its only legally valid for 2 years. Both have laws that makes it so trusts that are formed under this are tax-exempt for income generated outside and inside of Nevis. Both have laws that protects against heirship, so relatives are automatically entitled to your posseisions when you die. Nevis courts do not automatically recognize charging orders issued by U.S. courts. In theory, a U.S. creditor must apply for a separate charging order in Nevis. There is no tax for a Nevis LLC at home and abroad.
Privacy
There are no requirements to disclose beneficial owners of a Nevis LLC to the general public or file copies of manager details with any public registry in Nevis. While the government encourages local agents to maintain registers of such information at their offices, this information remains confidential. A Nevis LLC is allowed to appoint a nominee member for privacy purposes. The manager of a Nevis LLC doesn’t need to have any ownership but can control all operations and assets. Nevis has strong privacy laws that prevent the registration, filing, or disclosure of LLC owners’ identities. Initial or annual director filings are not required in Nevis, ensuring that the identity of owners and managers remains confidential.
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