Nevis is our recommended jurisdiction for incorporation of Private Trust Companies (PTCs). There are no special regulatory requirements, except that a PTC must be incorporated as an IBC not an LLC. A Private Trust Company formed in Nevis may freely act as trustee of any trust formed in Nevis or anywhere else in the world (subject to local legislation).

The Nevis International Exempt Trust Ordinance 1984 (NIETO) Section 2 requires that at least one of the trustees be either:

(a)    A corporation incorporated under the Nevis Business Corporation Ordinance; or
(b)    A trust company doing business in Nevis

Whilst we can make introductions to professionally licensed trustees, in most cases the best solution is a Private Trust Company (or PTC).

What is a Private Trust Company?

A Private Trust Company is simply a normal IBC or offshore company set up with the sole purpose as serving as trustee. One PTC may serve as the trustee of one or more trusts. In some jurisdictions PTCs are regulated like normal trust companies, but in many, for example in Nevis where we generally recommend executing trust business, there is no requirement for any special permission nor licensing.

A PTC provides trust services similar to those provided by an individual or an institutional trustee. These services may include fiduciary, investment advisory, wealth management, and administrative services.  For example, the PTC can open and operate offshore bank accounts and offshore brokerage accounts in a fiduciary capacity on behalf of the underlying trust.

Key Advantages of PTCs

Private trust companies offer the ability to establish long-term, multigenerational trustee arrangements in much the same manner as a corporate trustee does, but without the oversight and formality of a financial institution. Such permanent arrangements are not possible with individual trustees. A private trust company generally allows a family to customize trustee services and change them over time to address a family’s evolving needs. In many cases, a private trust company allows the family to be involved in key investment, management, and investment decisions.

Directors of a PTC

A PTC should be managed by a board of one or more directors.  These may be the Settlor, members of the family, or nominee directors. The Settlor may thus exercise full control of the structure without being visibly or directly involved. In Nevis, there is no public record of company directors.

Shareholder of a PTC

A PTC should have at least one shareholder. In order that it operates at arm’s length from the trust, we can provide a nominee shareholder where required.

Note that if you choose to have more than one shareholder, then under Nevis law the company will require an extra director.

Process for Establishing a Private Trust Company

Establishing a PTC requires no special formalities beyond normal company incorporation. Incorporation in Nevis takes 1-2 business days and shelf companies are also available. Please contact one of our consultants to start the process or to discuss any questions you may have.

For further details of the exact processes and fees please refer to our page on Nevis Companies.