Looking for Nevis LLC formation (without bank account)

[SilverNeo]

You are kidding, right? No way it costs 20000 for a Nevis trust, more like︅ 5k to set up and then another 3k for maintenance. Well worth it if you︆ are trying to safeguard assets, now a Cook Islands trust costs that much as it's︇ expensive and considered the best jurisdiction, in my opinion, with Nevis being a close second.︈

Personally, I don't think the cost is worth what you are getting compared to Nevis,︉ so if I had to pick, I would go with a Nevis trust instead of︊ a Cook Islands one, but those are just my two cents.

 

[Pasqualina]

It is possible that my previous explanation lacked sufficient clarity.

The establishment of a trust‌ in Nevis incurs a cost of $3,000.00. This fee, however, is exclusive of any advisory‍ services and applies only when engaging directly with a Registered Agent. Subsequently, the formation of⁠ a Nevis Limited Liability Company (NLLC) is also required, typically costing a minimum of $1,000.00.⁤

Additional expenses include fees for the nominee shareholder and director, estimated at $1,000.00. Furthermore, securing⁣ at least three bank accounts is necessary, a process that can be complex and may⁢ cost an additional $2,000.00.

Finally, incorporating a Power of Attorney (POA) and FedEx shipment of︀ all documentation to your specified city adds an estimated $1,000.00.

These figures apply only to︁ standard cases. Costs can escalate rapidly, potentially doubling, if the Ultimate Beneficial Owner (UBO) is︂ located in a high-risk country, or if any markets involved in sending or receiving funds︃ are deemed high-risk.

Lastly, and of significant importance, clients typically require comprehensive legal consultation for︄ the entire package, as they generally lack the expertise to navigate these complex international legal︅ structures independently.

Nevertheless, for individuals with millions of dollars at stake, an investment of $20,000.00︆ for a robust, "tank-like" structure would likely be made without hesitation, providing considerable peace of︇ mind.

 

[alley]

I agree, a quick approach to a few CSP's confirms the numbers.

 

[Davis123]

But for s trust you need an LLC for better protection. Secondly again question arises︅ as to where this LLC would for a reputable bank to accept this jurisdiction ?︆ . That's the biggest problem I am facing nowadays. Even with a Nevis LLC it︇ was next to impossible for a reputable bank to accept it a decade ago.

 

[Clank]

If you are using the LLC for asset protection, you intend⁣ to put most of your money there. If you put 1M+ there are many reputable⁢ banks that will take you in Singapore, Switzerland, Cayman or Bahamas.

 

[alley]

If you have a million to put into the trust or more, a few thousand‌ dollars should not stop you to get the proper solution maybe get in touch with‍ @gh0p who takes on customers with a networth of one million.

 

[Clank]

I thought his service was for HNWI only. Seems like a good solution then.⁤

 

[alley]

where do you get these figures from?

 

[SilverNeo]

This is not how you set it up for a proper⁣ setup you need multiple things

This is what I would do

Points 2 and 3⁢ are needed if your clients have an issue with a Nevis IBC

1. Set up︀ a Nevis IBC/LLC + a Nevis trust
2. Set up a US LLC owned by︁ the trust
3. Set up a UK LLP or something like a Cyprus company owned︂ by the trust.

Nevis IBC for asset protection (property, any stock investments, Crypto etc...) does︃ not deal with clients, it's a holding company, you invest profits, and it's basically for︄ your investments and you don't need extremely great banking, no customers.

US LLC for US︅ customers lot simpler for banking etc... and less questions why offshore etc....
UK LLP for︆ UK/EU customers lot simpler for banking etc... and less questions why offshore etc...

So it's︇ not that complicated if you do your research

Also to maintain the US and UK︈ companies is not that expensive, which is a plus.

 

[Clank]

A Nevis LLC is much︅ better for asset protection than an IBC.

 

[SilverNeo]

Not really this is shares instead of managers and is better for inheritance‌ planing and when you add it to a trust you are all good

When i‍ researched this i could not find a legal case of where a Nevis IBC in⁠ a trust was breached same goes for a Nevis LLC in a trust.

There was⁤ one case in the usa in Florida where the Court ruled that yes you can⁣ get the assets but this is only us assets and the LLC was not in⁢ a trust and even than this one case is an exception.

And if its in︀ a trust good luck.

https://www.alperlaw.com/offshore/nevis-llc/

I prefer an IBC personally due to the structure but︁ to each its own

 

[Davis123]

Looks like a lot of annual fees per︂ year plus a CPA extra amounts for keeping up with this structure. For a US︃ citizen like myself this is just too much structuring

 

[SilverNeo]

For me is fine costs 1100 USD a⁠ Year + tax return that the agent needs to file which is 200 USD.

There are no requirements for audited accounts so total cost 1300 for the IBC

 

[Davis123]

That's pretty nice .⁠ Only 1100 is doable

 

[SilverNeo]

1300 but‌ that's fine not what i would call expensive.

My rule of thumb and i don't‍ want to come off as a snob but if someone can't afford 5k a year⁠ for an IBC and a trust + bank costs you don't need one.

And I'm⁤ not talking specifically for you Davis speaking generally

 

[Davis123]

It would make sense if I was making a million plus a year.

 

[alley]

I have to fully agree with @SilverNeo if you can’t afford $1,300 a year to‌ maintain a company, then you really don’t need one. Just pay the tax you owe‍ and set up a local sole proprietorship instead. It’ll be a much better option for⁠ you.

 

[SilverNeo]

Even if you can save 2000 in tax but the company costs‍ 1300 its still worth it and the reason for this is not the 700 you⁠ will get but you can build out slowly.

If you get to million and then⁤ you open a company and you dump a million in from zero you will set⁣ off who knows how many alarm bells and AML questions even if all is above⁢ board and you will get all sort of trouble noone likes a investigation that is︀ tons of time and hustle.

Furthermore what happens if someone sues you while you are︁ at 700k and you lose or whatever you can kiss reaching to a million goodbye.︂

I'm not trying to be rude I'm just saying that in my opinion your position︃ is shortsighted and makes no sense if you think about it a bit more deeply︄

 

[Davis123]

I don't live in a sue free western country anymore. It's quite okay.︂ You have valuable information though.

 

[SilverNeo]

I don't either for me i did‍ this for two reasons.

1. Tax savings
2. Asset protection mainly from divorce if she⁠ leaves or something goes wrong 50% out of 0 is still zero.

But as i⁤ said to each his own.