Asset Protection
Asset protection from creditors, government agencies and aggressive lawsuits is one of the key advantages offered by a Nevis LLC. The LLC’s obligations do not make members liable and it does not possess any shares therefore making it impossible for the courts to attach such assets.
Understanding LLCs
The tax regime for LLC is the key differentiator between it and the regular corporation. The LLC is not taxed as a corporation but as a partnership as it is a tax-neutral entity therefore making its members directly responsible for the taxes to the extent to which it has been pro-rated. Membership is also open to various other entities and individuals.
LLCs are now being used as an alternative to trusts as a offshore planning vehicle given the advantages they offer. On the multi-national business scene, LLCs are a viable vehicle especially as they allow each member to be responsible for his domestic taxation while having all the advantages of incorporation.
Nevisian taxes also do not apply to LLCs as they do not pay taxes on capital distribution, income, dividends, wages or even for accumulated earnings that are not distributed.
An LLC’s operations are strictly confidential and not disclosable unless the incident is in connection with grievous activities like international terrorism. The annual corporate license is all that needs to be filed with the government but even this document provides very little information.