Eternity Law International News How to create a St. Kitts and Nevis Trust in 2023

How to create a St. Kitts and Nevis Trust in 2023

August 16, 2023

Today, many investors create trust corporations to preserve their assets. But before creating them, it is necessary to decide on the place of enrollment of such an enterprise.

At first  glance, create offshore trust in St. Kitts and Nevis is not the most obvious alternative. But if you are peeking for a place where your assets will be maximally protected and want to ensure their confidentiality, this country is perfect for you. That is why more and more co-founders of trusts have started to pay attention to this country and execute trusts here. Let’s take a closer look at the procedure and why you should assume this region to enlist your trust.

Why you should pay attention to this region

Trust companies are most often set up to protect their acquisitions and local laws provide this opportunity. First of all, the authorities in the region have enacted laws that ensure strict conservation and complete confidentiality of the co-founders and beneficiaries of trust-assets. Information about assets in this country is virtually inaccessible to global authorities, which has given the region a certain reputation.

Usually, obtaining info on Nevis’s assets is almost unimaginable or would take a lot of time, during which time the assets are not seized, but are accumulated regularly for the inheritor.

There is also a rule of law, whereby local authorities may not recognize global court orders. Creditors need to go to local courts to recover trust-assets. However, the judicial system is structured in such a way that the conserving of the local population and acquisition owners is prioritized over helping outside lending institutions.

Advantages of opening a trust in St. Kitts and Nevis

The main justification for the incorporation of a trust company in St. Kitts and Nevis is to allow the co-founders to rescue their acquisitions as much as possible. Many credit organizations work on the system of maximum active filings in global courts because they believe that the dividends received from the assets will cover their expenses.

However, such actions for companies in a given country will not be as favorable. It is usually virtually unattainable or would take a lot of time to obtain info about Nevis’s assets, during which time the assets are not seized, but are accumulated regularly for the beneficiary.

Moreover, it is not enough for creditors to get an order from the internationals court. They also need to win their case in the local courts of Nevis, and this is extremely difficult to do. In fact, as plaintiffs, they will need to prove the potential fault of the co-founder. To win, they need to have irrefutable evidence, and this is usually not available.

This is why many creditors do not even try to touch acquisitions in a given country. This means that your trust-company in this region is exhaustively protected and you don’t have to worry about possible interventions by global or foreign authorities.

How to set up a trust in St. Kitts and Nevis

To set up a trust-company in the region, you need to fulfill some minor conditions from the local authorities. In particular, it is necessary to:

  • undertake the registration of a trust in St. Kitts and Nevis by creating an appropriate legal-entity;
  • register the new corp in the relevant global registry;
  • provide documents in the trustee`s name;
  • have an office in the territory of one of the islands;
  • furnish an assurance statement that the creation of your trust does not contravene international regulations regarding the registration of such legal entities;
  • provide bank documents that confirm that there are available funds in the account to pay the enrollment cost.

It is important to understand that the co-founders of the trust provide additional documents at will. In particular, it is a trust-declaration indicating the ultimate inheritor or legatees. This info should remain undercover even to local officials, which is an unqualified advantage for the ultimate owners of the trust.

Who can assist with arranging a trust

There is nothing complicated about setting up such businesses on these islands. But if you want to go through the whole procedure as quickly as possible and prepare the right set of documents at once, we recommend you contact our staff. All of them have experience in cooperation with local officials and thoroughly know their requirements.

During the initial consultation, we will review your package of documents, suggest mistakes and help you correct them. As a result, you will leave us with the best package of documents and will be able to go through the registration procedure as quickly as possible and start increasing your assets.

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