Portugal, St Kitts And Nevis Sign TIEA
The Portuguese government has announced the signing of a Tax Information Exchange Agreement (TIEA) with the Caribbean territory of Saint Kitts and Nevis.
The agreement joins other agreements signed by Portugal, with Saint Lucia, the Isle of Man, Jersey, Guernsey, Bermuda, the Cayman Islands, Andorra and Gibraltar, bringing the country’s total of such reciprocal pacts to nine.
Each agreement is based on the Organisation for Economic Cooperation and Development’s model agreement on transparency and tax information exchange. When the respective agreements enter into force, they will allow Portugal and the signatory country to obtain information on request in civil and criminal tax disputes. The Portuguese government noted that the latest TIEA with St. Kitts and Nevis would help in efforts to mitigate tax fraud and evasion.
Portugal hopes to have its signed agreements ratified so that they can enter into force by 2011.
Also there is a trustable offshore nevis company formation agent here, http://www.htlnevis.com/This is what a certificate for a St. Kitts & Nevis company looks like.Structure1. The corporation?s principal office, company records, and meetings may be held or maintained outside of Nevis.2. Shares may be registered or bearer.3. The identity of beneficial owners and shareholders are not required to be filed in any public record or, except in the case of licensed companies, and government offices. 4. All shareholders and directors may act by unanimous consent, without a meeting and are allowed to issue proxies in writing.5. No annual reports are required to be filed in the public records of Nevis.Shares and Capital RequirementsThere is no minimum or maximum number of shares issued.Bearer shares must be held by a licensed custodian in Nevis.Shares can be issued with or without par value;IBC TaxationUnder the Nevis IBC legislation, all offshore companies are exempt from all taxes and stamp duties.