Offshore Banking with a Swiss Bank Account and Nevis LLC

Licence 123A. (1) Notwithstanding subsection (2) (iv) of section 123, no
required for corporation shall maintain an administrative or management office
management in Nevis unless licensed to do so by the Minister of Finance.
office
(2) An application for a licence shall be in such form as
may be prescribed or until a form is prescribed in such a
form as the Minister of Finance may require and shall be
accompanied by such particulars and such evidence,
documentary or otherwise, as the Minister of Finance
requires.
(3) A licence may be issued subject to such conditions or
restrictions as the Minister of Finance thinks fit to impose.
(4) A licence may be revoked by the Minister of Finance on
the breach f any condition or restriction to which the
licence is subject.
(5) Any corporation that maintains an administrative or
managerial office in Nevis without licence shall be subject
to a fine of $50,000 and to be struck off the register.
(6) The provisions of this section shall apply to all
corporations that-
(a) maintains an administrative or management
office in Nevis immediately before the
commencement of this Ordinance; or
(b) wishes to maintain an administrative or
management office in Nevis on or after the
commencement of this Ordinance.
(7) A corporation described in subsection (6) (a) may apply
for a licence within 30 days after the commencement of this
Ordinance and shall not be deemed to be a violation of this
Ordinance during such period that the application is being
considered by the Minister of Finance.
(8) If an application made by a corporation under section 7
is rejected the corporation shall close its office in Nevis
within 10 days after the receipt of the notice of the
rejection.
Limitation of 123B. The provisions of section 123A shall not apply to any
section 123A corporation that is managed or administered by a company or a
person duly licenced by the Minister in accordance with section 17
of this Ordinance or in accordance with any other law enacted by
the Nevis Island Legislature.
Dividends and 124. In addition, any dividend or distribution by a corporation
distributions which does no business in Nevis to another such corporation, or to
individuals or entities which are not citizens or residents of Nevis,
shall be exempt from any tax or withholding provisions of Nevis
law which would otherwise be applicable to such corporation or
the recipient of the dividend or distribution.