Bank Accounts website
Flag Theory website

Nevis

Multiform Foundation

Established under the Nevis Multiform Foundations Ordinance, 2004, the Nevis Multiform Foundation is a unique and highly adaptable legal entity. Unlike traditional foundations, it permits the designation of its legal character upon formation—allowing it to operate as a company foundation, trust foundation, partnership foundation, or a standard foundation. The selected form is specified in its founding document, the Memorandum of Establishment. Furthermore, a Multiform Foundation may alter its form at any stage during its existence, providing significant operational flexibility.

A Nevis Multiform Foundation is recognized as a separate legal person, distinct from its founder (also known as the subscriber), board members, and beneficiaries. Upon formation and endowment, the foundation becomes the sole legal owner of its assets. These assets are no longer considered to belong to the founder or any individual associated with the foundation. This separation serves as a core feature, enabling the foundation to hold and manage property independently.

The foundation’s ability to function autonomously makes it suitable for a wide variety of applications, including charitable endeavors, estate and succession planning, and asset holding or protection strategies. Importantly, the assets of the foundation cannot be claimed as personal property of any party involved, reinforcing its protective utility in legal and financial planning.

While typically associated with private wealth and estate planning, Nevis Multiform Foundations are not limited to non-commercial or philanthropic activities. They may engage in trade, business operations, and investment, provided that such activities align with the objectives specified in the foundation’s bylaws.

However, the law does impose certain limitations. A Multiform Foundation should not be primarily engaged in continuous profit-driven commercial activities unless these profits are directed toward fulfilling its stated purposes. This limitation does not preclude occasional or incidental commercial operations.

In practice, these foundations are often used to hold and manage a wide array of asset types, such as:

  • Real estate
  • Securities (stocks and bonds)
  • Bank accounts and deposits
  • Investment portfolios
  • Intellectual property
  • Art and collectible items
  • Pension or retirement funds
  • Crypto assets

The establishment of a Multiform Foundation begins with a founder (subscriber), who defines the foundation’s objectives, operational rules, and endows it with assets. The founder may also serve as a member of the management board or be a beneficiary, unless otherwise restricted by the foundation’s governing documents.

The management board is responsible for administering the foundation in accordance with its bylaws and structure. The role of the board adapts depending on the foundation’s form. For instance:

  • In a trust foundation, board members act similarly to trustees.
  • In a company foundation, they function like a corporate board of directors.

A supervisory board may also be established, with oversight functions akin to a trust protector. This board ensures the foundation is managed in line with its bylaws and holds the management board accountable.

All individuals or entities involved with the foundation—subscribers, board members, beneficiaries, and protectors—may be natural persons or legal entities, regardless of nationality.

Nevis Multiform Foundations are not constrained by the common law rule against perpetuities, meaning they may be established for an indefinite period or for a specific term as defined in their bylaws. They may be revocable or irrevocable, depending on the founder’s intentions and legal structuring.

Foundations may be created to benefit named individuals, classes of persons, or to serve more abstract goals (e.g., charitable purposes). Importantly, there is no legal requirement to identify or disclose beneficiaries in the founding documents.

A foundation can also be established posthumously via the terms of a will, offering a structured method for managing and distributing assets after death.

The Nevis Multiform Foundations Ordinance allows for the continuation or transformation of foreign foundations and companies into Nevis Multiform Foundations. Entities established under foreign law may transfer their legal domicile to Nevis and assume a multiform foundation structure, either through continuation, merger, or consolidation. This feature supports global estate planning and international business structuring.

One of the notable features of the Nevis Multiform Foundation is its asset protection strength. Legal protections shield foundation assets from creditor claims under strict conditions. To challenge a transfer of assets into a foundation, a creditor must:

Initiate a new claim in the courts of Nevis, as foreign judgments are not recognized;

  • Retain Nevis-licensed legal counsel;
  • Post a cash bond as a prerequisite to litigation;
  • Demonstrate actual intent to defraud, proven beyond a reasonable doubt

These stringent evidentiary and procedural requirements create a significant barrier to creditor success. Moreover, foundation assets remain protected even in the event of the founder’s insolvency or bankruptcy.

Nevis law mandates a high degree of confidentiality in the operation of Multiform Foundations. Information regarding founders, board members, beneficiaries, and protectors is not available to the public. The government does not maintain a public registry of these details, enhancing the foundation’s suitability for clients seeking privacy in financial or estate matters.

Nevis Multiform Foundations benefit from favorable tax treatment under certain conditions:

  • They are exempt from all forms of local taxation provided they do not hold assets in Nevis and have no resident beneficiaries.
  • If the foundation opts to become a Nevis tax resident, it may elect to pay an annual income tax of 1%.

However, restrictions apply. These foundations are generally prohibited from engaging in business with Nevis residents or owning real property in the jurisdiction. They are also barred from engaging in regulated activities such as banking or insurance without the necessary license.
Despite these restrictions, they may maintain relationships with Nevis-based service providers, including attorneys, accountants, and financial institutions, and may hold meetings or bank accounts within the territory.
The Nevis Multiform Foundation offers a legally recognized and adaptable structure suitable for a variety of applications—from estate and wealth planning to asset holding and organizational governance. Its unique ability to assume different legal forms, coupled with robust asset protection features and strong privacy provisions, makes it a versatile vehicle in cross-border planning contexts.

Taxes

Multiform Foundations and any related persons and any possible beneficiaries are exempted from taxes.

However, a multiform foundation may elect to become Nevis tax-resident and may pay taxes at a maximum rate of 1%. After the issuance of the tax-residency certificate, a foundation must file a tax return annually and may pay tax based on the entity’s net retained earnings.

  • Offshore Income Tax Exemption
  • Offshore capital gains tax exemption
  • Offshore dividends tax exemption
  • CFC Rules
  • Thin Capitalisation Rules
  • Patent Box
  • Tax Incentives & Credits
  • Property Tax
  • Wealth tax
  • Estate inheritance tax
  • Transfer tax
  • Capital duties
  • 0% Offshore Income Tax Rate
  • 0% Corporate Tax Rate
  • 0% Capital Gains Tax Rate
  • 0% Dividends Received
  • 0% Dividends Withholding Tax Rate
  • 0% Interests Withholding Tax Rate
  • 0% Royalties Withholding Tax Rate
  • 0 Losses carryback (years)
  • 0 Losses carryforward (years)
  • 0% Personal Income Tax Rate
  • 17% VAT Rate
  • 36 Tax Treaties

Country details

Saint Kitts and Nevis
XCD
Basseterre
North America
en-KN
51,134

Nevis is a Caribbean island located in the Windward Islands, in the Antilles. Along with the island of Saint Kitts, it constitutes the Federation of Saint Christopher and Nevis. An independent sovereignty country, member of the Commonwealth and the CARICOM.

Saint Kitts & Nevis is the smallest country in the Americas, both in size and population. With an area of 261 sq. km and a population of 54,961 inhabitants. Its capital and the most populated city is Basseterre, in Saint Cristopher. Its official language is English. Its legal tender currency is the East Caribbean Dollar (XCD), which has a fixed exchange rate with the dollar at 2.7: 1.

Being an independent member of the Commonwealth of Nations, Saint Kitts and Nevis has a stable political and financial system.

The head of state of the islands is the British monarch, who elects a resident Governor-General to represent him in local affairs.

The prime minister is the leader of the majority party of the House, and the cabinet carries out state affairs. St. Kitts and Nevis have a single legislative chamber, known as the National Assembly. It is made up of fourteen members: eleven elected representatives (three from the island of Nevis) and three senators who are appointed by the Governor-General. Two of the senators are appointed on the recommendation of the Prime Minister, and another with the advice of the opposition leader.

Unlike other countries, the senators do not constitute a separate chamber of the Senate or upper chamber of the parliament, since they sit in the National Assembly, next to the representatives.

Saint Kitts and Nevis was the last place to practice sugar cane monoculture in the Lesser Antilles. But because the sugar industry was increasingly struggling to make a profit, the government decided to eliminate the large-scale sugar cane production and carry out a diversification program for the farming sector and stimulate the development of other sectors of the economy, particularly tourism, export-oriented manufacturing, and offshore financial services. The issue of postage stamps, mainly for philatelic collecting, is also an important source of income for its economy.

Saint Kitts and Nevis also offers a citizenship by investment program. Through a donation to the Sustainable Growth Fund or an investment in Real Estate, a foreigner would become a St Kitts and Nevis citizen and obtain a passport with visa-free or visa-on-arrival access to 136 countries (including South America and European Union).

Tax treaties

Country Type Date Signed
Canada TIEA 2010-06-14
Guernsey TIEA 2012-02-07
Saint Lucia DTC  1994-07-06
Sint Maarten TIEA 2009-09-11
Portugal TIEA 2010-07-29
India TIEA 2014-11-13
Norway TIEA 2010-03-24
Saint Vincent and the Grenadines DTC  1994-07-06
Guyana DTC  1994-07-06
San Marino DTC  2010-04-20
South Africa TIEA 2015-04-07
Sweden TIEA 2010-03-24
Switzerland DTC  1963-08-26
Denmark TIEA 2009-09-02
Trinidad and Tobago DTC  1994-07-06
Antigua and Barbuda DTC  1994-07-06
Barbados DTC  1994-07-06
Grenada DTC  1994-07-06
Curaçao TIEA 2009-09-11
Jamaica DTC  1994-07-06
Germany TIEA 2010-10-13
Faroe Islands TIEA 2010-03-24
Dominica DTC  1994-07-06
Greenland TIEA 2010-03-24
Finland TIEA 2010-03-24
France TIEA 2010-04-01
Iceland TIEA 2010-03-24
Netherlands TIEA 2009-09-02
New Zealand TIEA 2009-11-24
Belize DTC  1994-07-06
Aruba TIEA 2009-09-11
Australia TIEA 2010-03-05
Belgium TIEA 2009-12-18
United Kingdom TIEA 2010-01-18
Liechtenstein TIEA 2009-12-11
Monaco DTC  2009-09-17

Tax treaties Map

>

Services

We can help you incorporate a Multiform Foundation in Saint Kitts and Nevis for $5,150.


Click here to incorporate your Saint Kitts and Nevis MULTIFORM FOUNDATION.

Incorporate now

Disclaimer

Although we use our best efforts to keep the information of this site accurate and up-to-date, we make no representations or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents of this website. We disclaim any warranties expressed or implied, merchantability, or fitness for any particular purpose. We shall in no event be held liable for any loss or other damages, including but not limited to special, incidental, consequential, or other damages. The contents of this website are just for illustrative purposes and are NOT to be considered as a legal opinion or tax advice and should not be relied upon as such. Far Horizon Capital Inc., and any associated company, is not engaged in the practice of law or tax. If you wish to receive a legal opinion or tax advice on the matter(s) in this website please contact our offices and we will refer you to an appropriate legal practitioner. Use of our websites FlagTheory.com, Incorporations.io, Residencies.io, Passports.io, is subject to our terms and conditions.

Newsletter

Flag Theory is an internationalization and offshore solutions provider, and the creator of incorporations.io. We offer expert consultation advice and assistance.

Your privacy is important for us and we will keep your information secure. View our privacy policy

View past newsletters

Consultation with

Flag Theory is an internationalization and offshore solutions provider, and the creator of incorporations.io

In order to better serve you, we ask that you please fill out the following form as accurately as you can and provide as many details as possible. Thank you.

Your privacy is important for us and we will keep your information secure. View our privacy policy