How to Establish a Nevis Asset Protection Trust

Registration of trusts in Nevis entitles them to the benefits set out in the Nevis International Exempt Trust Ordinance ("the Ordinance") including specific asset protection provisions.

A trust is usually qualified to be registered as a Nevis International Exempt Trust if the trustee or any one of the trustees is either:

• A Nevis Business Company, or
• A Nevis Licensed Trustee Company.

The first option gives the client greater comfort when establishing a trust as the client is able to choose who is to control the company acting as trustee. This may be a friend, relative, advisor or any other person the client may nominate.

Documentation

Before registering a trust, AMS will require a copy of the form of trust deed for its review and approval. As far as the form of trust deed is concerned a client may base this on one of our standard form trust deeds. AMS can provide you with a draft specimen for consideration. The final form will, however, depend on the specific requirements of each client and should be tailored to the clients needs. Client advisors may also have their own form that they prefer to use or adapt. Where AMS acts as trustee, it will always want to review and, where necessary, amend the trust deed to ensure it meets with its requirements as trustee. AMS will work with you on drafting a deed acceptable to us both.

Other documents required are:

• an Application Form to be completed and signed by the settlor.
• a letter / memorandum of wishes to be provided on settlement of the trust.
• a signed affidavit regarding Money Laundering, Solvency and Drug trafficking

If a client chooses to incorporate a Nevis Business Company to act as trustee then AMS's review of the trust deed will not be necessary. In order to incorporate a Nevis Business Company either to act as trustee or as the underlying company owned by the trust AMS require its Company Incorporation Application to be completed.

As AMS does not provide legal advice, it would always recommend taking Nevis legal advice to ensure compliance with the laws of Nevis. You should also take legal advice from within your place of residence.

Taxation and Registration

There is a simple procedure for the registration of an international trust. The only information required is the name of the trust, the local registered agent and registered office. The trust instrument does not need to be filed. An international trust is not subject to any form of taxation.

The trust may be established by a declaration of trust by the trustees therefore allowing the identity of the settlor to remain anonymous.

Trust Assets and Administration