Why Settle Your Trust in Nevis?

There are three main types of International Trusts offered in Nevis: Spendthrift or Protective Trusts, Charitable Trusts and Non-Charitable Trusts also known as Purpose Trusts. Although a trust register is maintained, it only records the name of the trust and date of settlement and is not a public document available for inspection. There are no means by which the public can learn about the existence or terms of any private trust. The Trustee for a Nevis trust is usually a licensed Nevis Trust Company.

The Perpetuity and Accumulation Periods for a Nevis Trust

The maximum duration period for a Spendthrift Trust is 100 years from the date of creation. An international trust established for charitable and non-charitable purposes may have a duration exceeding 100 years. The rule against perpetuities does not apply to trusts registered in Nevis. The trust may authorize the accumulation of income for a period not exceeding the maximum duration of the trust.

The Exclusion of Forced Heirship

The Nevis International Exempt Trust cannot be declared void, void-able or defective by reason of any forced heirship rules of the Settlor's domicile;

The Asset Protection Features of the Nevis International Exempt Trust

There are many salient features of the Nevis International Exempt Trust:

1) A creditor seeking to set aside a transfer to a Nevis Trust has a very high burden to discharge. The creditor is required to establish beyond reasonable doubt that the transfer constituted a fraudulent disposition and he must prove intent to defraud with "clear and convincing evidence".
2) A creditor must first lodge a security bond of US$25,000 with Ministry of Finance before he can bring an action against a Nevis Trust. No claim or action will be entertained by the Court of St. Kitts and Nevis after the expiration of one year, after the creation of the trust.
3) Foreign judgments are not enforceable against a Nevis trust. Any civil action to recover assets must be brought anew in the Court of the Federation of St. Kitts and Nevis.
4) The Statute of Queen Elizabeth has no application.
5) The legislation provides for there to be a protector of the trust. The protector is responsible for overseeing or monitoring the operations of the trust and actions of the trustee.
6) The same person can act as Settlor, Beneficiary and protector of the Trust. This allows the Settlor to maintain greater control over the trust's assets, if desired.