Nevis vs Gibraltar: which is better for business?
We’ve compared business conditions in Saint Kitts and Nevis and Gibraltar. Find out which one offers better benefits and is more suitable for you.
Saint Kitts and Nevis
There are a lot of advantages of incorporating a company in Nevis. Firstly, the owners can be of any nationality and can appoint third parties as management.
Moreover, an LLC is a great structure for a joint venture and can help you simplify taxes if you declare the earnings as personal income.
Nevis offers a high level of protection and privacy because the information of the managers is only available for the registry. Since they don’t appear on public records, members can keep their identities safe.
Also, the incorporation process here is quite easy and has minimal red tape.
If you want to register your business in Gibraltar, you can do it as a non-resident company which you can create if shareholders and directors don’t live in Gibraltar. As long as the company doesn’t conduct business inside the country, you will have tax benefits. This includes exemptions on interests or dividends paid to a non-resident. Local companies, on the other hand, must pay a 10% income tax and get a license to operate domestically.
In Gibraltar, you must present your reports each financial year which ends on March 31st, but you don’t have to audit them.
Which country offers more benefits?
In both jurisdictions, you have to keep financial records available at all times and submit a tax return. For Gibraltar, auditing is not a requirement. In this regard, both jurisdictions are quite flexible.
In a nutshell, the process is much simpler in Nevis. You can have your company running within a period from 3 to 7 days after submitting forms and documents. The good news is that you can incorporate only by sending digital copies.
Fees for companies are lower in Nevis as well.
Both countries are very safe in terms of security and privacy. When it comes to Nevis, here the names of the people involved with the company will be kept 100% private unless there’s a reasonable suspicion of fraudulent activity. Names of members or shareholders are not included in the articles of incorporation, moreover, this information about the members is held only by the corporate registry and agent.
The above is for informative purposes only. Further professional advice should be sought for each particular case. Our firm does not accept any responsibility for any loss or damage occurring by acting on the basis of this information.