offshore financial services

Posted by & filed under Uncategorized.

Keeping one’s finances in order can be difficult, which is why many businesses hire trust companies to help them. Trust companies are legal entities that manage assets and wealth for clients. Here is an overview of the services these companies provide.

Trust Formation and Administration

A trust company’s primary duty is trust formation and administration of trusts. A trust is an agreement in which a beneficiary allows a third party known as a trustee to hold property or assets on their behalf. Utilizing a trust prevents a business from spending money unwisely and ensures that all financial matters are left in the hands of an expert.

Company Incorporation and Management

When a new company is first formed, it needs to undergo a legal process called incorporation to be recognized as a business. A trust company can help a business with the incorporation process in addition to consolidating its finances. It can also help a business with various management tasks after it has been fully established.

Fund Administration

Through fund administration, a trust company acts as a middleman between fund managers and investors to ensure that all investment assets are distributed correctly. Managing a fund includes services such as administration, accounting, custodial services, and fund manager selection.

Captive Insurance

If a business wants to provide insurance for itself rather than relying on a third party for coverage, it can create a captive insurance company. A trust company can help a business by overseeing the administration of a captive insurance company and providing underwriting and technical support

Offshore Financial Services

An offshore bank account enables a business to hold money and make and receive payments outside of its home country. This type of account can be set up for any type of currency, so a business may wish to open more than one to have different types of money available. Offshore bank accounts are especially useful for companies that engage in e-commerce, which makes up about 14% of all global retail sales, according to IFC.

Working with a reliable trust company is the only way to properly protect your business and keep it running smoothly. First Nevis Trust Company Limited provides offshore financial services along with other services to ensure that a business operates as efficiently and successfully as possible. Contact us today to learn more about how our corporate, trust, foundation, and estate administration services can benefit your company.

Posted by & filed under Uncategorized.

Thinking of forming an offshore company? This can have a multitude of benefits. Offshore companies basically come in two forms: the IBC (International Business Corporation) and the LLC (Limited Liability Company). These two are virtually identical. However, there are a few differences. For instance, the IBC is owned by shareholders, and the LLC is owned by members. There are two types of foundations, private operating foundations, and private non-operating foundations, according to Asset Protection Planners. Here are some benefits of hiring offshore financial services to form an LLC or IBC.

Benefits of Forming an LLC

There are several benefits to forming an LLC. One of the main benefits is personal liability protection. This means that your personal financial assets will not be at risk if your company goes into debt. You will not get this type of protection with general partnerships and sole proprietorships. If you are planning to create a business that carries even the smallest amount of risk, you should consider forming an LLC.

You should keep in mind that you may lose liability protection if you commit fraud or mix personal finance accounts with business accounts. Another benefit of LLCs is that you don’t have to deal with lots of paperwork when creating them. You can even enlist the help of offshore financial services. With an LLC, you aren’t required to have a board of directors, hold shareholder meetings, or keep meeting minutes. This means you won’t spend lots of time and money on record keeping and dealing with compliance-related documents.

Benefits of Forming an IBC

There are several benefits to forming an IBC. For instance, you will get to enjoy extremely low tax rates. In most areas, IBCs are taxed at rates that range from 0% – 3% corporate taxes. Apart from the tax rates, IBC also benefits from the favored legislative environments. The jurisdictions that permit the creation of IBC usually ensure that there is a favorable legal environment to encourage offshore investors. For instance, you will find that there usually is the legislature that affords the IBC special privileges and freedoms.

Did you know that IBCs are super easy to incorporate? In some jurisdictions, you will be able to incorporate your IBC in as little as a few days. The last benefit of forming an LLC or IBC is ownership. An IBC can be owned by a single shareholder. This person can also be the same natural person.

These are just some of the benefits of forming an IBC or LLC company. Are you interested in establishing your own LLC company? Our offshore financial services at First Nevis Trust Company can help. Get in touch with us today. We would love to hear from you.

offshore financial services

Posted by & filed under Uncategorized.

An IBC is one of the most common business structures in the United States. It’s also one of the easiest to start and provide offshore financial services. Many people think it is just like an LLC, but there are major differences. This article will outline the key differences between an LLC and an IBC that you should know.


A limited liability company (LLC) is a hybrid business entity combining elements of sole proprietorships and an organization. An international business corporation (IBC), on the other hand, is a company that provides offshore financial services. The laws of specific jurisdictions make it a tax-neutral business typically constrained in terms of the activities it may engage in within the jurisdiction it is formed.


Another major difference between offshore financial services is that a group of people can form IBCs. Unfortunately, IBCs are usually harder to obtain and even take some businesses several months and multiple meetings to finalize. An LLC, on the other hand, is typically a small company and requires just one person as a partner. According to the Internal Revenue Service, private operating and non-operating foundations are the two main forms.


An LLC is typically treated as a partnership for federal tax purposes but isn’t taxed as a corporation for state income taxes. That means it doesn’t have to pay out profits to its owners through dividends or other distributions. It also means it doesn’t have to file IRS Form 1120 or a Partnership Return of Income Tax each year. In contrast, an IBC is taxed as a corporation for federal tax purposes and pays out profits through dividends or other distributions. It also has to file IRS Form 1120 annually.

Formal Requirement

IBCs and LLCs must comply with any upkeep or reporting requirements imposed by the state that incorporated their business. Doing this maintains the company’s good standing and the limited liability protection it received at incorporation. While every state has laws that apply to limited liability companies (LLCs), IBCs often have more annual requirements than LLCs. That said, in an IBC, an annual shareholder meeting must be held yearly. Also, an IBC must often provide an annual report as well. This keeps the Secretary of State informed about the business’s current information. The board of directors must vote on a corporate resolution before taking any actions or making any changes to the company.

If you’re looking for more information get in contact with First Nevis Trust Company today. We are more than happy to help.

offshore financial services

Posted by & filed under Uncategorized.

Providing offshore financial services is one of the world’s most lucrative forms of banking today. According to the International Monetary Fund (IMF), offshore banking accounts for more than $7 trillion of global personal wealth. More people are opening offshore bank accounts today than ever before because of the benefits it offers with asset management.

What are offshore financial services, and how do they work? What benefits can you derive in asset management by opening an offshore account? This article sheds light on these critical questions about offshore banking. Let’s dive in!

What Are Offshore Financial Services and How Do They Work?

According to the IMF, offshore financial services are commercial products that financial agents like banks provide to non-residents. These products include borrowing from and lending to non-residents, accepting monetary deposits from non-residents, and investing them in other financial markets. Although you can find some records of offshore transactions in the Bank for International Settlements (BIS), most are held in trusts and not subject to government scrutiny.


If you want to keep your financial life private, offshore banking is your best bet. Offshore banks will keep all your financial records in trust because it does not mandate you to share such information with anyone else, including the government. These banks will offer you monetary privacy that most local financial banks cannot afford.

Asset Management

One benefit of offshore banking is that it allows you to open offshore foundations. According to The Internal Revenue Service, there are two types of offshore foundations: private operating foundations and private non-operating foundations. These foundations are instrumental in private asset management because they allow you to manage your wealth under favorable foreign conditions that do not exist in your home country.

Portfolio Diversification

Choosing offshore financial services is also a great way to diversify your investment portfolio. You can invest in different financial instruments that are not easily accessible in your local financial system through an offshore account. This investment can be extremely vital in cushioning you against your home country’s financial risks.

Establishing an offshore banking account can be extremely tough and risky if done individually. Contact First Nevis Trust Company today and enjoy expert guidance in your asset management journey.

Posted by & filed under Uncategorized.

Trusts and foundations are private-sector charitable organizations that give donations. Trusts and foundations frequently do not carry out their programs directly; instead, they fulfill their goals by granting financing to other organizations. They are self-contained from the government and operate according to their principles, missions, and goals. A trust comprises the settlor, the trustee, and the beneficiaries. The legal ownership of trust property passes from the settlor to the trustee once the trust is created, and the trustee is responsible for managing the trust fund.

On the other hand, foundations are independent legal entities formed under the direction of a founder. A foundation holds any property the founder transfers to it and is governed by a charter and set of regulations. A foundation, like a trust, must have clearly stated goals that could be charitable or non-charitable. Private operating foundations and private non-operating foundations are the two categories of foundations. An offshore management company can manage trusts and foundations. There are many benefits associated with setting up a trust or foundation. These benefits are outlined below.

Instill Philanthropic Values and Tradition

Trusts and foundations give a wealth of opportunities for the next generation to participate in philanthropy. It’s one approach to ensuring that your family’s charitable legacy is passed down through the generations. Furthermore, because private foundations are frequently created to last a lifetime and are passed down from one generation to the next, they have the potential to develop generation after generation of people dedicated to making a difference.

Tax Benefits

When compared to contributing in private capacities, establishing a trust or private foundation has several advantages. You can increase your philanthropic influence, leave a legacy, and bring your family closer together, and they also provide tax benefits. Each year, trusts and foundations assist in decreasing or eliminating income taxes and estate taxes. Depending on the nature of the property provided through the trust or foundation, capital gains taxes can also be avoided.


Giving makes us feel better. Engaging in charitable projects through trusts and foundations results in a loss of self-consciousness, which has good self-fulfilling consequences. Self-fulfillment achieved by assisting others has a stronger and longer-lasting effect than indulging in enjoyable hobbies.

Image Control

Referrals to a family foundation may safeguard you from constant fund-raising requests if privacy is a priority. If you’re looking for recognition and status from your grantmaking, a charity organization managed by an offshore management company could be just what you’re looking for.

Have you established a trust or foundation and need an offshore management company? Do not hesitate to reach out to us.

Offshore Management Company

Posted by & filed under Uncategorized.

Offshore private wealth management is undoubtedly something everyone interested in building and maintaining wealth should learn about. Many individuals who might benefit from this type of wealth management service do not utilize it as often as they could simply since they are unaware of its benefits or are utterly ignorant about how the whole thing works. Private functioning foundations and private non-operating foundations are the two types of foundations. This article will outline some of the advantages of dealing with offshore private wealth management. Let’s get into them.

Safeguarding of Assets

One of the most important reasons consumers seek offshore private wealth management services is to preserve their money. After accumulating a certain amount of assets, many people reasonably worry about how they would secure their possessions against theft or manipulation. Fortunately, asset protection is a specialty of offshore management organizations. Offshore investments provide certain safeguards that are not available elsewhere.

Capacity to Diversify Investment Portfolios

Certain markets in your country and some overseas ones might become difficult to spend in. Although many countries give tax breaks to potential investors, other countries have more attractive investment markets. Tax breaks make it simpler for people to invest in them and build diverse portfolios.

Offshore accounts are far less restricted for investors, providing freedom and limitless access to foreign investment markets. Limitless access is particularly true in emerging countries when key businesses are privatized. As these businesses are privatized, people who employ offshore private wealth management services will have even more investment opportunities. Of course, there are many additional advantages to using offshore asset management services, but this is one of the main ones. Keeping assets secure in this day and age might be tough, but it is not impossible. Therefore, investors need to look into other possibilities, including offshore wealth management services in some situations.


Most offshore countries provide some level of confidentiality to international investors. Secrecy is a right that everyone should have in their investing decisions, not merely for the sake of concealing transactions. This anonymity does not necessarily suggest that foreign investors are looking for unlawful moves globally, nor does it imply that offshore jurisdictions promote criminal activity; it’s merely reinstating a right that most first-world countries have lost.

If you are thinking offshore private wealth management is for you, give us a call today. We’d love to help you get started.

offshore banking services

Posted by & filed under Uncategorized.

There are many reasons why people might choose to open an offshore bank account. Most people prefer offshore financial services since they provide more privacy for their finances. Offshore banking can also provide easier access to international financial markets. Here are six facts you should know about offshore banking.

1. Offshore Banking Provides More Privacy for Your Finances

In many countries, banks must share information about their customers with the government. This is not the case in all offshore jurisdictions, making offshore banking a good choice for those who want to keep their finances private.

2. There are Two Categories of Offshore Foundations

When you decide to set up an offshore foundation, you will have to choose between a private operating foundation and a private non-operating foundation. You must understand the difference between the two types. One big distinction is that a private operating foundation must derive most of its income from the active conduct of business.

3. Offshore Banking Can Provide Easier Access to International Financial Markets

Another reason people choose offshore financial services is easier access to international financial markets. Many offshore banks offer online banking and investment services that make trade in foreign currencies and securities easy.

4. You Can Mitigate the Risks of Offshore Banking by Choosing a Reputable Bank

One way to mitigate the risks of offshore banking is to choose a reputable bank. Look for a bank that is well-regulated and has a good reputation. Also, understand the potential risks before you decide to use an offshore bank.

5. Offshore Banking Can Be an Excellent Way to Diversify Your Financial Portfolio

Using an offshore bank, you can access a different set of financial products and services. This can help you hedge against risks in your home country’s financial system.

6. Research Any Offshore Bank Before Using Its Services

As with any financial institution, you should research an offshore bank before using its services. Look for a well-regulated bank with a good reputation. Also, understand the potential risks before you decide to use an offshore bank.

Offshore financial services may be a good option if you want higher interest rates for your finances, flexible products, or accessible access to international markets. If you are interested in opening an offshore bank account, give the professionals at First Nevis Trust Company a call today.

offshore management company

Posted by & filed under Uncategorized.

More companies than ever are moving into the UAE area because of corporate-friendly tax schemes. However, as an offshore management company, there are some key considerations about doing business in the UAE. A key factor is economic substance regulation. Every offshore management company should be aware of the economic substance regulations.

What Are Economic Substance Regulations?

In 2019, the Cabinet of the United Arab Emirates Ministers presented Resolution 31. The economic substance regulations or Resolution 31 for the UAE were designed to apply to specific sectors of business in the UAE. The resolution was designed with recommendations from the Economic Cooperation and Development and the EU Code of Conduct group. The goal was to counter tax practices that were coined “harmful”.

The ESR is designed to provide a set of regulations that will affect an offshore management company. These rules ensure that companies are compelled to provide information about profits and economic impact by their presence in the area. ESR regulations affect offshore, onshore, and Freezone business activities.

Since the declaration of these rules in 2019, entities are required to demonstrate economic substance in the jurisdiction overseen by the UAE or risk losing tax entitlements and other benefits. As an offshore management company, violating Resolution 31 is not an option because it can result in great financial loss.

Who Does ESR Affect?

It is not only an offshore management company that has to contend with the ESR resolutions. There is a wide range of industries that should be aware of these laws and understand how to navigate them successfully. Here is a shortlist of some of the industries that are expected to be in compliance with the ESR if they are going to do business in the UAE jurisdictions:

  • An offshore management company, shipping concerns, distribution centers
  • Corporate headquarters business, lease financing, banking businesses, insurance businesses.
  • Holding businesses, intellectual property businesses, and other businesses.

The best way to determine if these rules will apply to you is to ask. Getting in-depth information about ESR will help you to make informed decisions about whether the rules apply to you. A good rule of thumb is to assume that it does.

Substance Over Form

The UAE uses a substance over form approach to determine which company these rules apply to and which company they do not apply to. The UAE will use a Relative Activity guide to determine if these rules are applicable to your business. The UAE will make the decision about the applicability regardless of whether relevant activities are included in your application.

If the UAE determines that your business does fall under the ESR requirements, you will need to provide the economic substance of the company. If you cannot show the economic substance of your company, you may be denied the ability to do business in the UAE.

Companies That Are Excluded from ESR

There are businesses that are not affected by the ESR. For example, businesses that are non-UAE residents, investment fund companies for special purpose vehicles, businesses that are fully owned by UAE residents, foreign companies where incomes are subject to tax in foreign countries, businesses that generate zero income, and other businesses. There are loopholes that an offshore management company can use to be exempt from these rules.

Economic Substance Tests

There are several tests that you can do to see if your company meets the standard of an ESR company. The first test, of course, is if the business carries out relevant activities that are managed in the UAE. Another test is whether the Core Income Generating Activities are carried out in the UAE. Another test is if there are enough employees, enough expenditures in the UAE, and physical assets.

There are other tests and criteria that need to be considered as well. The good news is that there are consultants that are available that can help your offshore management company manage the ESR in the UAE. A consultant can manage the entire process for you. Learn more today about ESR in the UAE.

offshore financial services

Posted by & filed under Uncategorized.

If you’re involved in the non-profit sector, you might have discussed how to create a trust or foundation for your charity. Many people get confused when they hear about “foundations” and “trusts.” For the most part, both work to the same end: providing funds for your cause. The question is, which one is right for you? Offshore financial services can help anyone looking to take their business internationally or protect assets from the government in their home country. Below you will learn the differences between trusts and foundations.

What Are Trusts and Foundations?

The trust and foundation structures are both used as vehicles to execute a plan that is usually financial. What they have in common is that they are often established by the same person or organization and used for the same purpose. Offshore financial services, such as trusts and foundations, are ideal legal entities for estate planning and securing assets.

A trust is an arrangement where the property is transferred from one person, or organization ( grantor), to another ( trustee) to be managed for the benefit of a third party ( beneficiary). The grantor makes the appointment of assets to benefit an individual or group of individuals. In addition, there may be multiple beneficiaries who may have different rights concerning the trust asset. Most people are looking into protecting their assets, and the best way is to make use of offshore financial services like a trust.

A foundation is an organization set up to support charitable activities. Foundations can be classified as either charitable or non-charitable. Most common are private non-charitable foundations. A private non-charitable foundation is generally defined as any organization that is not a public charity.

Types of Foundations

A public charity obtains its funds from many sources, including the general public. At the same time, a private foundation typically receives most of its funding from one source, such as an individual, a family, or a corporation. Family foundations can be either private or public charities. A private foundation receives most of its money from one source, an individual or family. A public charity receives money from multiple sources, such as government agencies, corporations, and individual donors.

If you want to create a trust or foundation, it helps to consult with an attorney who specializes in estate planning because there is substantial paperwork involved in creating a new entity. You’ll also want to work with an accountant or financial adviser, so you can determine which type of organization is best. Contact us today to receive more information.

Offshore Management Company

Posted by & filed under Uncategorized.

Running a company comes with many tasks like managing people, signing documents, bookkeeping, and other procedures that can be hard to keep up with. However, with an offshore management company, you can resolve all these problems and enjoy a smooth operation that yields returns and wastes little time. Here are a few advantages of company management services.

A Dedicated Reception Team and Phone Line

When you choose to work with company management services, one of the things they will offer is a dedicated phone line and a reception team. Basically, the reception team operates and responds to phone calls under your company name. This gives you more time to attend to other important aspects of the business. In addition, if you are expecting faxes, the offshore management company can convert them into PDF files and email them to you. This ensures you are updated on all correspondence related to your company.

Provide Virtual Offices Whenever You Need Them

Most people, especially those running online businesses, hardly have physical locations. E-commerce is responsible for about 14% of all global retail stores, and a lot of these businesses do not have a physical address. If you want a virtual office to attract more clientele and want to stay within budget, company management services can help you. Also, if you want to establish your presence in a new location but do not want to incur the cost of a standalone office, you can get that flexibility.

Program Management

Company management service providers can also help you manage projects. They analyze your company’s culture and then develop the best recommendations that can fit well with the existing workflow. Since you are working with a team of experts, they will help come up with ideas to help cut unnecessary costs while still providing quality services to your customers.

Provides Peace of Mind

An offshore management company can provide you with some peace of mind, as long as you are working with experts. They help to take a lot of tasks off your plate and give you more time for other important aspects. Some of the things they do include bookkeeping, compiling financial statements, filing tax returns, renewing business licenses, and financial planning. You can enjoy reduced stress by simply allowing a management company to handle all these for you.

Discussed above are a few of the advantages of company management services. Choose a reputable provider with knowledge of your industry, and you will have more time to focus on the growth of your business.