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Nevis Multiform Foundation LLC

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miner

New member
Nevis Multiform Foundation LLC looks pretty cool. How come it has never been mentioned in these forums? Anyone having any experiences with it?

It's a foundation and at the same time allowed to do business because it is at the same time also an LLC if I understand this right.

Is a Nevis Multiform Foundation LLC better than "only" a Nevis LLC?

- for asset protection
- for limiting personal liability
- for making the company an unattractive target for being sued

Any disadvantages with Nevis Multiform Foundation LLC?
 

miner

New member
Nevis Financial Services Regulatory Commission - Foundations

http://www.nevisfsrc.com/component/...nload=185:multi-form-foundations-ordinance-02

> “limited liability company” means a company incorporated under the Limited Liability Company Ordinance or an equivalent statute, enactment or law in any other country or jurisdiction, and includes a limited liability partnership;

> “Limited Liability Company Ordinance” means the Nevis Limited Liability Company Ordinance, Cap. 7.04 (N);

> (5) A multiform foundation that

> is a company foundation and whose stated multiform is a limited liability company, shall include in its name the words “Limited Liability Company” or “L.L.C.” or “LLC” or “L.C.” or “LC” (with or without brackets) prior to the word “Foundation” or the abbreviation “FDN”;

> if the multiform is stated to be a company and the multiform foundation is a company foundation, in the event that the constitution shall fail to specify any other proper law as governing the by-laws, the provisions of the Corporation Ordinance shall apply, mutatis mutandis, as if references therein to the „company‟ referred to the company foundation; the „directors‟, the management board; and the „shareholders‟, the absolute beneficiaries; or in the case of a multiform which is stated to be a limited liability company, the provisions of the Limited Liability Company Ordinance shall apply, mutatis mutandis, as if references therein to the „limited liability company‟ referred to the company foundation; the „manager‟ or „member‟ as manager, a member of the management board; and the „members‟, the absolute beneficiaries; and

Nevis Financial Services Regulatory Commission - Legal Framework

http://www.nevisfsrc.com/component/...evis-limited-liability-company-ordinance-2017

http://www.nevisfsrc.com/component/...ility-company-forms-and-fees-regulations-2017

https://www.fsrc.kn/service-providers

LLC seems to provide stronger liability protection than IBC.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
It's a foundation and at the same time allowed to do business because it is at the same time also an LLC if I understand this right.

That's interesting but a foundation that can conduct business is not uncommon.

Good find anyway, I will need to look into this some more.
 

happyjohn

Corporate Services
Mentor Group Gold
Business Angel
Entrepreneur
This is somehow interesting to learn more about since first and quick read let me understand that this is a opportunity that hasn't been made used of much or at least not been discussed here at all!
 

rockrock

New member
Still interested in this one. Hard to find information.

Nevis foundation in text of law still possible to elect opt-in for 1% taxation, tax residency certificate. The nevis multiform foundation ordinance wasn't updated and also no amendment to be found online.

Seems like they forgotten to curtail this?

Nevis tax authority never replied to any of my questions which makes this looks bad.

As for "normal" Nevis LLCs they style to publish laws is really awful. The old law text isn't updated. It's still 0% tax and no mention of economic substance requirement (ESR). Two updates are posted as amendments in pdf format which says "replace this by that", "delete that" which makes it really hard to read and grasp on top of the usual legalize.
 

Admin

Forum Moderator
Staff member
Elite Member
Nevis tax authority never replied to any of my questions which makes this looks bad.
You may find a law firm or lawyer which has experience with such entities, so you may be able to setup something reliable.
 
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