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Private Foundation in Nevis
- Thread starter GIOBBI4
- Start date
Hello Martin Hello Mr Yellow, it's not easy to totally trust a person that you don't know via internet, they didn't answer me because I've already talked to two expert people and their answers didn't satisfy me, the topics were other and they didn't talk about Nevis. In my country I found a person who unintentionally gave me two pieces of advice that went well, I will ask him. Have a greta week!! cheers Giobbi4
Fulton Abraham Sanchez
Fulton Abraham Sanchez, CPA
G, hi. Will be glad to help you with the constitution of Private Foundation in Nevis. Is a good option to manage your company or private assets without having to pay unnecessary taxes or deal with excessive bureaucracy.
OK so what do you want to know about Nevis foundations?
Nevis is a great jurisdiction for trusts and LLCs. But frankly I find their Foundations unnecessarily complicated and therefore expensive. I understand the Nevis foundation law was written for French residents who had Nevis trusts and wanted to legally avoid declaring them under new French legislation - or something like that. The point is you can start with a trust and change it to a company or whatever and that is why it is called " Multiform" because it can change like a chameleon. Very few people understand it but I guess it has some logic for the people who wrote the law. So if you specially want a Nevis foundation the price range you just have to quote with providers, it will be a lot more expensive than Panama, more along the price lines of Liechtenstein. But I can tell you your residence doesn't make any difference.
Panama has much clearer Foundation law - cheaper and better in my view.
Nevis is a great jurisdiction for trusts and LLCs. But frankly I find their Foundations unnecessarily complicated and therefore expensive. I understand the Nevis foundation law was written for French residents who had Nevis trusts and wanted to legally avoid declaring them under new French legislation - or something like that. The point is you can start with a trust and change it to a company or whatever and that is why it is called " Multiform" because it can change like a chameleon. Very few people understand it but I guess it has some logic for the people who wrote the law. So if you specially want a Nevis foundation the price range you just have to quote with providers, it will be a lot more expensive than Panama, more along the price lines of Liechtenstein. But I can tell you your residence doesn't make any difference.
Panama has much clearer Foundation law - cheaper and better in my view.
Interested in how it works and how you can get items in it.
Let's say you own a property, how can you plant it in a trust/foundation?
sell it first? I would imagine everything currently can be linked back to your origin source...
If you have a property and you own it, you can just gift it to the Trust or Foundation. The trustees should be able to help you with the paperwork.
The point of Foundations is not to obscure where the property came from. If that is what you want to do you might want to throw some additional pass-through structures into the equation.
The point of Foundations is not to obscure where the property came from. If that is what you want to do you might want to throw some additional pass-through structures into the equation.
Yes we can help with this. Sorry for the delay replying. We have been very busy.
Do you have any experience with that bank. According to one web site:
https://corporatefinanceinstitute.com/resources/careers/companies/top-banks-in-the-cayman-islands/
Cayman banks are well-known for requiring a six-figure deposit, but seven-figures seems more like Swiss banking.
Maybe that's your experience, claiming they are the worst company is maybe a little too much, the worst compared to what?
In our partner network here at offshorecorptalk.com we are using them with great pleasure, I don't see any problems with the delayed replies by email. If it is urgent you can pick up the damn phone and give them a call, I have yet not troubles to reach out to them.
If you want a reliable service provider then you can use them, if you want a hyper active service provider not doing there job to the finest details then find some one else.
Back to topic, this is not a discussion about a particular provider, just wanted to clear the air!
What about taxes in that case, would the one that gift the property to the Trust or Foundation be taxed?
Maybe you can give a usecase example for a better understanding to all of us that try to do so?
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