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Nevis Multiform Foundation LLC

Discussion in 'Offshore Company formation' started by miner, Aug 11, 2018.

  1. miner

    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?
     
    happyjohn likes this.
  2. blockchain4ever

    blockchain4ever New Member

  3. miner

    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.
     
  4. Martin Everson

    Martin Everson Offshore Consultant Business Angel

    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.
     
  5. rockrock

    rockrock New Member

  6. happyjohn

    happyjohn Corporate Services Entrepreneur Business Angel

    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!