Nevis trust and fiduciary business regulation

The Nevis Financial Services Regulatory Commission publishes licensing categories, application steps, and a listing of licensed trust and corporate service providers. These pages describe how Nevis classifies and supervises providers, and what the public listing shows.

Regulator and scope of licensing

Nevis places trust and corporate service provider licensing under its Trust and Corporate Service Providers Ordinance. The Licensing Committee processes applications and issues licences.

Published licence classes

The Commission publishes four licence classes, with Class II divided into restricted and unrestricted forms. The classes cover different services, so the licence category matters when reading what activity the regulator authorizes.^[1]

Class I covers formation agency services and registered office or address services for corporations, limited liability companies, and foundations. It also covers specified appointments involving those entities.^[1]
Class II restricted permits registration and specified registered office or address services for trusts. Class II unrestricted includes those restricted activities and trust business.^[1]
Class III covers business as a registered agent for international insurance.^[1]
Class IV covers acting, or arranging for another person to act, as a director or nominee shareholder for another person.^[1]

How the public register works

The Commission publishes provider names and contact details under the heading Licensed Trust and Corporate Service Providers.

The Commission groups regulated entities by business category, with separate headings for banks, insurers, and other entities. Entries for trust and corporate service providers include varying amounts of address, telephone, email, and website information.

Applying for a licence

An applicant for a provider licence is directed to complete forms for the TCSP licence, a Class IV licence where applicable, and personal and banker questionnaires. The forms require supporting documents and the prescribed fee.

Approval follows only if the Committee is satisfied that the application is in order and the applicant is fit and proper to conduct the business. Due diligence and fit and proper assessments cover principals, shareholders, beneficial owners, and directors.

Questions and answers

Which Nevis licence category covers trust business?

Class II is the trust-related category. A restricted licence permits specified registration and address services for trusts, while an unrestricted licence also permits trust business.^[1]

Does the public listing show each provider's licence class?

The Commission lists providers under the Licensed Trust and Corporate Service Providers heading. Listed entries do not include each provider's specific licence class.^[1]^[2]

What forms does a Nevis provider licence application require?

The forms are the TCSP licence application, a Class IV licence application where applicable, a personal questionnaire, and a banker's questionnaire. Supporting documents and the prescribed fee accompany the forms.^[1]

What does the Committee assess before granting a licence?

The Committee assesses whether the application is in order and whether the applicant is fit and proper to conduct trust and corporate services business. Due diligence and fit and proper assessments also cover specified people connected with the applicant.^[1]

What ongoing conditions apply to licensees?

Licensees operate within the class issued and notify the Committee about specified changes. Company licensees must have at least two individual directors, and providers submit annual audited financial statements within three months after their financial year ends.^[1]

Related glossary terms

Reporting financial institution: The Common Reporting Standard classifies a financial institution as reporting when it falls within the relevant jurisdiction's rules and is not non-reporting.
Related person: Related persons are defined through sections 267 and 707(b) in the Form 3520 instructions. Examples include family members and majority-owned corporations.
Permanent establishment: The IRS describes a permanent establishment as a fixed place through which an enterprise conducts its business. The exact meaning depends on each treaty.