Index
Using the Index
References are to paragraph (¶) numbers, not pages. A reference such as 1220.05 is to ¶ 1220.05 in Chapter 12; a reference to a whole section, such as 1610, covers every subsection of that section. References beginning with a letter (for example D50.01) are to the Appendices. Each reference links to its paragraph.
Headings are arranged word by word. See directs the reader to the heading under which a subject is indexed; See also lists related headings. Cases and statutes are listed with their paragraph references in the Table of Cases and the Table of Statutes and Regulations.
Symbols and Numbers
1995 LLC Ordinance, 360.05, 360.07, 1601.06
2017 LLC Ordinance, 1210.01, 1210.02, 1210.03, 1210.04, 1210.05, 1210.06, 1210.07, 1210.08, 360.10
Advisory Committee (NIETO), 1210.08
judicial dissolution, 1490.06, 1650.07, 340.08
operating agreements, 1220.06, 1310.07, 1650.04, 260.05
repeal and savings, 1210.03, 230.06
SM Life Ventures decision, 1210.01, 1220.06, 1240.03, 1310.07, 1360.08, 1420.05, 1650.04, 260.05
2017 LLC Ordinance
1995 LLC Ordinance, 1210.01, 1210.02, 1210.03, 1210.04, 1210.05, 1210.06, 1210.07, 1210.08
2017 Ordinance, 360.10
Advisory Committee (NIETO), 1210.08
repeal and savings, 1210.03, 230.06
SM Life Ventures decision, 1210.01
A
Abolition of exemptions (2021), 810.03, 2650.01, 2650.04, 2650.06
economic substance, 2650.08
EU and OECD listing, 1720.03, 2650.03
EU list of non-cooperative jurisdictions, 1720.03, 2650.03
grandfathering and the CIT-101 return, 2650.05
identified regime, 2650.02
information-exchange ratings, 2650.09
present status, 2650.07
Access to court, 1980.02
argument against the bond, 2270.03
argument for the bond, 2270.04
constitutional guarantee, 2270.01
hearings in camera, 2270.06
no decision, 2270.02
supervisory board, 1950.04, C20.06
weighing the arguments, 2270.05
Accounts and audit, 850.06, 1750.03, 1980.05, 1990.05, 1990.07, 2690.08
administrative penalties, 2880.02, 410.12
allocations and the partnership audit regime, B30.08
books of account and audit, 1980.04
duty of care standard, 1410.01, 1450.03
Financial Services Regulatory Commission, 410.12, 450.01
foundation regulations, 1890.09, C20.04, C20.09
interests of creditors, 1440.01, 1440.07
memorandum of establishment, 1890.09, C20.04, C20.09
operating agreements, 1310.05, 1390.04, B10.07, B10.09, B20.05, B20.08
Accrual of cause of action, 2101.05, 2170.07, 3010.02
conditions on suit, 2250.03
fraudulent dispositions, 160.03, 2170.01, E30.02
LLC periods, 2170.02
one-year rule, 2140.01, 2140.02, 2140.03, 2140.04, 2140.05, 2140.06, 2140.07, 2140.08, 2140.09
standard of proof, E30.02
two-year limitation, 2140.01, 2140.02, 2140.03, 2140.04, 2140.05, 2140.06, 2140.07, 2140.08, 2140.09, 2170.01
Accumulation of income, 2790.06
distributions to U.S. beneficiaries, 2930.03, 2930.08
perpetuities, 2120.01, 550.04, 690.01, 690.02, 690.03, 690.04, 690.05, 690.06, 690.07, 860.01, 860.02, 860.03, 860.04
Rule against perpetuities, 690.01
saunders v. Vautier rule, 860.01, 860.02, 860.03, 860.04, 860.05
Section 672(f), 2930.03, 2930.04, 2930.08
settlors, 2120.01, 2160.06, 530.04, 620.03, 620.07, 690.04, 690.06, 690.07, 860.05, 890.06, A10.02
throwback rules, 2930.04
Administrative penalties, 450.08
Financial Services Regulatory Commission, 150.03, 410.07, 410.11, 410.12, 450.02, 450.13
Administrative powers, 780.08, 1180.01, 1190.06
asset sales, 1340.06
Admission of members, 1301.05, 1590.05, B40.01
bankruptcy of a member, 1570.08, B20.09
operating agreements, 1310.04, 1390.03, B10.05, B10.11, B20.04, B20.09, B20.10, B20.11
rights of first refusal, 1330.09
series LLCs, 1330.01, 1330.02, 1330.03, 1330.04, 1330.05, 1330.06, 1330.07, 1330.08, 1330.09
single-member LLCs, 1570.08, 3050.05, B10.05, B10.11, B10.14
Advancement. See Indemnification
Advancement of expenses, 1410.07, 1490.07, 1490.08, 1940.08
charitable trusts, 1060.01, 1060.03, 1060.04
exculpation clauses, 1480.01, 1480.02, 1480.03, 1480.04, 1480.05, 1480.06, 1480.07, 1480.08, 1480.09, 1480.10
exoneration clauses, 1480.01, 1480.02, 1480.03, 1480.04, 1480.05, 1480.06, 1480.07, 1480.08, 1480.09, 1480.10
Advisory Committee (NIETO)
1995 LLC Ordinance, 1210.08
2017 LLC Ordinance, 1210.08
Confidential Relationships Act, 580.02
Financial Services Regulatory Commission, 420.05
hearings in camera, 580.03
immunity of officials, 580.01, 580.02, 580.03, 580.04, 580.05, 580.06, 580.07
Alien land holding, 2660.07, 2690.03, 2690.08
expatriation, 2980.08, 2980.09
land in Nevis, 2670.02
real estate holding, 2670.02
settlors, 2980.08
Alienation of interests, 201.03, 350.06, 1180.01, 1990.07, 2090.05, C01.02, C30.09
beneficiaries' information rights, 1970.05, 1970.06
discretionary trusts, 1970.03
duress clauses, 2090.04
duress events, 2090.04
fixed interest trusts, 820.02, 840.07
forfeiture, 1970.01, 1970.02, 1970.03, 1970.04, 1970.05, 1970.06, 1970.07, 1970.08, 2020.08, 2090.03
personal-relationship claims, 2020.02, 2020.08
Allocations of profits and losses
profit and loss, 1370.04
Annual compliance filings, 470.01, 470.09, 470.10, 490.06, 1810.05, 1880.01, 1880.06, 1990.07, D30.04, D40
annual return, 1880.11
by-law 37, C30.18
confidentiality of the trust register, 470.05
consequence of lapse, 470.04
discontinuance out of Nevis, 1880.04
dissolution by the registrar and revival, 1880.08
electronic filing, 470.02
forms 3520 and 3520-A, 2940.01, 2940.03
foundation holding LLC interests, 3030.04, 3030.07
foundation registration, 1880.12
foundation regulations, 1890.09, C20.09, D30.01
insolvency as a ground of dissolution, 1880.07
memorandum of establishment, 1890.09, 3030.04, C20.09, D30.01
mergers and consolidations, 1880.05
records and filings, 1880.13
registration and annual renewal of trusts, 470.03
renewal of LLCs and corporations, 470.06
restoration, D40.01, D40.02, D40.03, D40.04
return of foundations, 470.07
tax resident foundation, 1880.10
tax status, 1880.09
transfer of domicile, 1290.12, 1880.02, 1880.03
trust fees, 470.08
Annual fees
removal from the register, 1280.01, 1280.02, 1280.03, 1280.04, 1280.05, 1280.06, 1280.07, 1280.08
restoration, 1280.01, 1280.02, 1280.03, 1280.04, 1280.05, 1280.06, 1280.07, 1280.08
Anti-money laundering, 170.02, 2810, 2810.01, 2820, 2830, 2840, 2850, 2870, 2880
beneficial owners of the licensee, 480.04
compliance and reporting officers, 480.03
designated non-financial businesses and professions, 480.06
Financial Services Regulatory Commission, 2810.05, 480.05
onboarding, D50.01, D50.02, D50.03
Proceeds of Crime Act, 2880.01
service provider as gatekeeper, 480.02
Anti-Money Laundering Regulations, 2801.03, 2801.04, 2810.02, 2820.01
duty of care standard, 2830.01, 2830.02, 2830.03, 2830.07, 2830.10, 2830.11
introducers and reliance, 2850.01, 2850.02, 2850.03, 2850.04, 2850.06, 2850.07, 2850.08
onboarding, 2890.01, 2890.03, 2890.07, D50.03
politically exposed persons, 2840.01, 2840.03, 2840.04, 2840.06
Proceeds of Crime Act, 2880.01
record keeping, 2850.01, 2850.02, 2850.03, 2850.04, 2850.06, 2850.07, 2850.08
source of wealth, 2840.01, 2840.03, 2840.04, 2840.06
Appeals, 2480.05, 2480.06, 270.03, 370.02, 370.05, 380.01, 380.02, 380.04, 380.06, 450.06, 450.10, 450.11
1967 order, 380.03
appellate authority from other member states, 370.06
Belize, E10.01
change of control, 450.04
Common Reporting Standard, 2760.07
costs, 2480.02
effect on clients' transactions, 450.09
final and interlocutory decisions, 370.03
Financial Services Regulatory Commission, 410.13, 450.01, 450.02, 450.12, 450.13, E10.01
fixed and administrative penalties, 450.08
graduated sanctions, 450.05
immunity of officials, 450.13
itinerant court, 370.01
leave and time limits, 370.04
loser pays, 2480.01
mediation, 2480.04
regulatory appeals, 410.13
Arbitral awards
firewall provisions, 2310.06, 2370.08, 2390.02
Reciprocal Enforcement of Judgments Act, 2320.02, 2320.07
recognition of foreign insolvency, 2370.01, 2370.02, 2370.03, 2370.04, 2370.05, 2370.06, 2370.07, 2370.08, 2370.09
settlors, 2370.06
Assent to Ordinances, 130.03, 130.05, 2810.01
bills and assent, 130.01
common law and English authority, 130.08
data protection, 2780.01, 2780.04
drafts and proposals, 130.06
federal legislation, 130.07
financial measures, 130.02
liability shield, 1601.02, E01.04
Revised editions, 130.04
Asset protection, 2030.04, E30
accumulation of income, 860.02
Belize, E30.01
beneficiaries' creditors, 2030.05
civil contempt, 2530.04
firewall provisions, 2030.07
foundation's own creditors, 2030.06
founder's creditors, 2030.02
fraudulent dispositions, 2030.03, E30.01, E30.02
impossibility defense, 2530.04
politically exposed persons, 2840.09
purpose of the comparison, 2030.01
saunders v. Vautier rule, 860.02
settlors, 850.02
source of wealth, 2840.09
standard of proof, E30.02
See also Charging orders; Creditor's bond; Firewall provisions; Fraudulent dispositions
Asset sales, 1301.03, 1410.06, 1690.09, 1790.09, B01.02, B40.01
administrative powers, 1340.06
charging orders, B01.07, E40.02
Delaware, 1670.07
dissenters' rights, 1670.01, 1670.02, 1670.03, 1670.04, 1670.05, 1670.06, 1670.08, 1670.09, 1670.10, 1670.11, 1670.12, 1670.13
drafting the operating agreement, 1390.02, 1390.06
joint ventures and funds, 1770.03, 1770.06
member-managed LLCs, 1340.06
mergers and consolidations, 1601.02, 1670.01, 1670.02, 1670.03, 1670.04, 1670.05, 1670.06, 1670.07, 1670.08, 1670.09, 1670.10, 1670.11, 1670.12, 1670.13, D70.03
operating agreements, 1390.02, 1390.06, 1760.04, 3080.06, B10.07, B20.06, B20.10
single-member LLCs, B10.07
Assignment of interests, 1610.06
allocations to an assignee, 1610.05
assignability as the default, 1610.03
assignee rights, 1610.04
assignor's continuing liability, 1610.07
economic and governance rights, 1610.02
effect of assignment on the company, 1610.12
exclusive remedy, 1520.05
expulsion of members, 1630.09
interest as personal property, 1610.01
liability shield, 1610.02
life insurance and trusts, 1610.09
operating agreements, 1610.08, 1610.10, B20.10
redemption of interests, 1610.11, 1630.09
winding up, B20.10
B
Bankers Trust orders
Confidential Relationships Act, 2460.06
CPR Part 28, 2460.01, 2460.04, 2460.05, 2460.06, 2460.07, 2460.08, 2460.09, 2460.10
Norwich Pharmacal decision, 2460.02, 2460.03
Norwich Pharmacal orders, 2460.01, 2460.02, 2460.03, 2460.04, 2460.05, 2460.07, 2460.08, 2460.09, 2460.10
Bankruptcy, 1620.03, 1620.04, 1620.05, 2230.05, B30.17
Alaska, 2560.08
chapter 15 recognition, 2570.07
charging orders, 1570.01, 1570.04
Colorado, 1570.05
court test and control test, 3050.06
cross-border insolvency, 2570.01, 2570.02, 2570.03, 2570.04, 2570.05, 2570.06, 2570.07, 2570.08
death, or dissolution of a member, 1640.04
drafting a successor-member provision, 1620.10
firewall provisions, 2340.09
fraudulent dispositions, 670.07
liability shield, 1620.06
manager-managed LLCs, 1570.03, 1620.08
member-managed LLCs, 1620.07
multi-member companies, 1620.11
operating agreements, 1620.02, B20.09
recognition of foreign insolvency, 2370.06
repatriation orders, 2520.03
reserved powers, 2560.03
Section 548(e), 2560.01, 2560.02, 2560.05, 2560.06, 2560.07
Section 727 denial of discharge, 2570.01
settlors, 2230.04, 2340.09, 2370.06
single-member LLCs, 1570.01, 1570.02, 1570.03, 1570.04, 1570.05, 1570.06, 1570.07, 1570.08, 1620.07, 1620.08, 3050.06
spendthrift exclusion (§ 541(c)(2)), 2560.01, 2560.02, 2560.03, 2560.04, 2560.05, 2560.06, 2560.07, 2560.08
spendthrift provisions, 2560.04
termination events, 1620.01
trusts as members, 1620.09
winding up, 2230.04
See also Cross-border insolvency
Bankruptcy of a member, 1620.04
charging orders, 1570.01, 1570.04
Colorado, 1570.05
manager-managed LLCs, 1570.03
operating agreements, 1390.01, B20.01, B20.09
single-member LLCs, 1570.01, 1570.02, 1570.03, 1570.04, 1570.05, 1570.06, 1570.07, 1570.08, 3050.05
Belize, 160.03, 360.02, 910.06, 1080.03, 1150.08, 2280.02, 2590.03, 3070.02, E20.02, E30.02, E70.02
appeals to the Privy Council, E10.01
charging orders, E40.02
Companies Act (federal), 1580.07
costs, 2280.02
economic substance, E60.01
enforcement of judgments, 2390.03
enforcers, 1080.03
Financial Services Regulatory Commission, E10.01
firewall provisions, 2390.03
foreclosure of interests, 1580.07, E40.02
foreign receivers, 2180.03
foreign trustees, 2180.03
forms of multiform foundation, E50.01
foundation capital, E50.01
fraudulent dispositions, 160.03, E30.01, E30.02
layering of jurisdictions, 3070.02, 3070.04
Nevis Business Corporation Ordinance, E60.01
Beneficial interests, 1850.03, 1901.03
firewall provisions, 2390.04, 880.03
forced heirship, 880.01, 880.02, 880.03, 880.04, 880.05, 880.06, 880.07, 880.08, 880.09
qualifying trustee requirement, 880.08
settlors, 1110.03, 2150.04, 2980.03, 680.09
spendthrift exclusion (§ 541(c)(2)), 2560.02, 2560.04
variation by the court, 1130.03, 1130.05, 1130.07
Webb decision, 880.09
Beneficial ownership, 170.06, 2860.02, 2860.03, 2860.04, 2860.05, 2860.09
access by the authorities, 2860.06
Belize, E60.01
Common Reporting Standard, 1780.01, 1780.03, 1780.04, 1780.05, 1780.06, 1780.07
Cook Islands, E60.01
data protection, 2780.06
duty of care standard, 2830.01, 2830.02, 2830.03, 2830.04, 2830.05, 2830.06, 2830.07, 2830.08, 2830.09, 2830.10, 2830.11
exchange with other countries, 2860.08
FATCA, 1780.01, 1780.02, 1780.03, 1780.04, 1780.05, 1780.06, 1780.07
investment entities, 1780.02
legal personality, 2860.07
liability shield, 2830.07
Nevis model, 2860.01
nominees and bearer shares, 2830.08
owners of the licensee, 480.04
protectors, 2830.05
See also Customer due diligence
Beneficial ownership registers, 1840.02, 1980.02, 2801.06, 2860.02, 2860.03, 2860.04, 2860.05, 2860.09
access by the authorities, 2860.06
exchange with other countries, 2860.08
legal personality, 2860.07
Nevis model, 2860.01
Beneficiaries' information rights, 1301.05, 1990.07
alienation of interests, 1970.05, 1970.06, 1970.08
derivative actions, 1380.07
forfeiture, 1970.05, 1970.06, 1970.08
fraud on a power, 1380.02
information rights of members, 1380.01
liability shield, 1380.01, 1380.02, 1380.03, 1380.04, 1380.05, 1380.06, 1380.07, 1380.08
protectors, 1040.02, 920.08, 940.03, 990.01, 990.02, 990.05
protector's powers, 1040.02, 920.08
public file, 1270.08
settlors, 670.09, 750.08, 890.06
trustees' duties, 750.08
unfair prejudice, 1380.08
Beyond reasonable doubt standard, 390.04
contempt of court, 2580.03, 2580.07
fraudulent dispositions, 160.03, E30.02
settlors, 2120.10, 2130.07, 2150.07, 2580.07
standard of proof, 2130.01, 2130.02, 2130.04, 2130.07, 2580.03, E30.02
Bond, creditor's. See Creditor's bond
Breach of trust, 520.05
compensation and equitable remedies, 770.03
constructive trusts, 770.04
costs and privacy, 770.07
co-trustees, 770.02
exoneration clauses, 1940.07, 760.07
measure of liability, 770.01
tracing, 770.04
trust property, 2040.05, 770.06
two-year limitation, 770.05
British Virgin Islands
business succession, 1080.05
comity, 2390.05
firewall provisions, 2390.05
mixed purpose and person trusts, 1080.05
Business entity versus trust, 540.05, 2901.03
civil-law foundations, 1890.06, 2960.02
entity classification (U.S.), 1730.01, 2960.05
foreign trusts (U.S. tax), 1890.06, 2080.06
foundation as beneficiary, 2050.03, 3070.05
foundation classification abroad, 2080.06, 2960.01, 2960.02, 2960.03, 2960.04, 2960.05, 2960.06
By-laws. See Memorandum of establishment
C
Capacity, 630, 1620.03, 1620.04, 1620.05, 1820.09
capital calls, 1550.05
drafting a successor-member provision, 1620.10
general-law question, 630.01
liability shield, 1620.06
management board, 1930.02
manager-managed LLCs, 1620.08
member-managed LLCs, 1620.07
minors and persons under disability, 630.05
multi-member companies, 1620.11
operating agreements, 1620.02
settlors, 630.02, 630.03, 630.04, 630.06, 630.07
single-member LLCs, 1620.07, 1620.08
termination events, 1620.01
trusts as members, 1620.09
Capital accounts, 1590.02
capital calls, 1550.02, 1550.03
charging orders, 1550.02, 1560.10, 1590.03, 1590.08, B20.02
operating agreements, B20.02, B20.05, B20.08, B20.10
tax payments under section 60(18), 1560.10, 1560.13, 1590.03
Capital and insurance requirements, 440.03
Capital calls, 1590.04
charging orders, 1520.09, 1550.02, 1550.04, 1550.09, 1590.07, 1590.08, B01.07
disguised distributions, 1550.06
loans to the member, 1550.07
manager's decision, 1550.01
member's other remedies against the company, 1550.08
operating agreements, 1220.05, B10.06, B20.05
payments in another capacity, 1550.05
suspension and the charged member, 1550.03
Capital contributions, B40.02
admission of members, 1330.04
allocations of profits and losses, 1370.04
capital calls, 1550.01, 1550.02, 1550.03, 1550.04, 1550.05, 1550.06, 1550.07, 1550.08, 1550.09, 1590.04
charging orders, 1370.09, 1550.02, 1550.04, 1550.09
enforceability of promises to contribute, 1370.02
forms of contribution, 1370.01
liability shield, 1370.05, 1370.07
no statutory solvency limit, 1370.06
payment on termination of an interest, 1370.08
remedies for default and compromise, 1370.03
series LLCs, 1330.04
settlors, 620.02
single-member LLCs, 1260.03
SM Life Ventures decision, 1370.07
winding up, 1370.10
written consents, 1360.02
Certificates of good standing, 150.04, 490.06, 570.05, 570.06, 1350.06, 1350.08, D10.04, D20.04, D30.04
annual compliance filings, 1880.12, 470.07, 470.08, 470.10, D40.03
emergency transfer of domicile, 1290.03, 1290.06, 1290.12
registered office, 1250.07, 1250.11
removal from the register, 1280.02, 1280.06
restoration, 1280.02, 1280.06, 1640.07, D40.03
CFATF mutual evaluation
Global Forum peer reviews, 2880.07
Change of stated form, 2060, 2090.05, C01.02
forms of multiform foundation, 2060.01, 2060.02, 2060.03, 2060.04, 2060.05, 2060.06, 2060.07, 2060.08
foundation regulations, C20.01, C20.10, C30.19
memorandum of establishment, 2060.04, C20.01, C20.10, C30.19
Chapter 15 recognition, 2301.03, E01.03
charging orders, 1370.09, 1680.07, B30.16
cross-border insolvency, 2570.07
Charging orders, 1510.04, 1530.08, 1590.07, 1590.08, 2240.03, 3001.04, B30.16, E40.01
bankruptcy of a member, 1570.01, 1570.04
Belize, E40.02
calls and tax payments, 1370.09
capital calls, 1550.02, 1550.04, 1550.09
Cook Islands, 1560.13, 1580.06, E40.02
court test and control test, 3050.02
creditor's information, 1530.09
enforcement against the structures, 2470.02
exclusive remedy, 1520.09
firewall provisions, 2350.02, 2350.04
Florida, 1580.04
foreclosure of interests, 1580.04
income tax payments by LLC, 1560.03
interim relief, statutory bars, 2440.05, 2440.08
judicial dissolution, 340.08
liability shield, 1560.04, 340.08
LLC Ordinance, 340.07
LLC statutes, 160.04
membership interests, 1580.10
Minnesota, 1580.10
New York, 1510.08
operating agreements, B10.10, B20.02
phantom income, 1560.09
procedure for fixing the company bond, 2240.06
protective provisions, 1710.02
rules the forms cannot change, B01.07
scope of the bond requirement, 1530.04
settlors, 1760.07
single-member LLCs, 1570.01, 1570.04, 3050.02, B10.10
tax payments under section 60(18), 1560.01, 1560.02, 1560.03, 1560.04, 1560.05, 1560.06, 1560.07, 1560.08, 1560.09, 1560.10, 1560.11, 1560.12, 1560.13, 1590.03, 1760.07, 2950.06
three-year charging order limit, 1540.01
See also Exclusive remedy
Charitable purposes, 1850.07
Belize, 1080.03
charitable trusts, 1060.01, 1060.03, 1060.04, 1060.05, 1060.06, 1060.08, 1070.03, 1070.04, 1070.06, 520.03
cy-près doctrine, 1070.02, 1070.03, 1070.04, 1070.06, 1070.07, 1070.08
Jersey, 1080.03
life insurance and trusts, 1030.06
non-resident requirement, 1030.08
protectors, 1001.04, 1030.01, 1030.07, 1030.09, 1060.08, 1090.06, 650.09
public policy, 1030.06
purpose trusts, 1030.01, 1030.02, 1030.03, 1030.04, 1030.05, 1030.07, 1030.08, 1030.09, 1070.07, 1090.01, 1090.06, 1850.02
Charitable trusts, 1060, 1060.10, 1070, 1080, 1090
charitable purposes, 1060.03, 1060.05, 1070.07
cy-près doctrine, 1070.01, 1070.02, 1070.03, 1070.04, 1070.05, 1070.06, 1070.08
distribution on termination, 1070.08
general-law background, 1060.02
non-government organisations act, 1060.07
Oppenheim v. tobacco securities trust Co, 1060.06
purpose trusts, 1070.07, 1090.05
remainder trusts, 1060.09
settlors, 1070.02
six heads applied, 1060.04
spendthrift provisions, 520.03
statutory definition, 1060.01
Charter (foundation). See Memorandum of establishment
Check-the-box regulations. See Entity classification (U.S.)
Choice of law. See Governing law
Citizenship by investment, 170.07
clients who live in the Federation, 2680.01
non-resident requirement, 2680.02, 2680.05
politically exposed persons, 2840.10
provider as representative taxpayer, 2680.04
source of wealth, 2840.10
tax position of service providers, 2680.03
Civil contempt
contempt of court, 2530.01, 2530.03, 2530.04, 2530.05, 2530.08, 2550.01, 2550.05, 2550.07, 2580.03
criminal contempt, 2550.01, 2550.05, 2550.07
federal Trade Commission v. Affordable Media, 2530.06, 960.04
impossibility defense, 2530.01, 2530.02, 2530.03, 2530.04, 2530.05, 2530.06, 2530.07, 2530.08, 2530.09
Lawrence decision, 2530.07
repatriation orders, 2530.02
Civil Procedure Rules 2023, 2220.03, 2290.07, 2401.02, 2420.02, 2470.03, 2480.06, 2490.03
Bankers Trust orders, 2460.08, 2460.10
Chabra jurisdiction, 2450.03, 2450.05
costs, 2260.05, 2260.06, 2260.07
CPR Part 17, 2430.01, 2430.03, 2430.06
freezing orders, 2430.01, 2430.03, 2430.06
Reciprocal Enforcement of Judgments Act, 2320.01, 2320.02, 2320.03, 2320.04, 2320.05, 2320.06, 2320.07, 2320.08, 2320.09
security for costs, 2260.01, 2260.02, 2260.04, 2260.05, 2260.06, 2260.07
trust property, 2320.09
United Kingdom, 2320.02
Civil-law foundations, 1840.03, 1890.02
business entity versus trust, 1890.06, 2960.02
foreign trusts (U.S. tax), 1890.06, 2080.06
foundation classification abroad, 2080.06, 2960.02
Liechtenstein, 2020.07
personal-relationship claims, 2020.07
alienation of interests, 1970.01, 1970.02
disclaimer, 870.01, 870.02, 870.03, 870.04, 870.05, 870.06, 870.07, 870.08, 870.09
power of addition and exclusion, 870.03
Classes and series
admission of members, 1330.01, 1330.02, 1330.03, 1330.04, 1330.05, 1330.06, 1330.07, 1330.08
liability shield, 1260.04
operating agreements, 1260.02, 1260.05
redemption of interests, 1610.11
rights of first refusal, 1330.09
series LLCs, 1260.06, 1260.07, 1330.01, 1330.02, 1330.03, 1330.04, 1330.05, 1330.06, 1330.07, 1330.08, 1330.09
single-member LLCs, 1260.01, 1260.02, 1260.03, 1260.04, 1260.05, 1260.06, 1260.07, 1260.08
Classes of members
operating agreements, 1220.06, 1650.04, 260.05
SM Life Ventures decision, 1220.06, 1360.08, 1420.05, 1650.04, 260.05
Commencement, 140.03, 290.06, 401.04, 510.01, 1810.02, 2290.01
1995 LLC Ordinance, 1210.02, 1210.03
assent to Ordinances, 130.01, 130.05
conditions on suit, 2250.01, 2250.05
Financial Services (Regulation) Ordinance, 430.01
interpretation of statutes, 230.01, 230.02, 230.03, 230.04
liability shield, 1201.02, 140.04
regulated activities, 430.01
Commercial Division
SM Life Ventures decision, 320.06
Commercial purpose trusts, 350.02
business entity versus trust, 1890.06, 2960.02
civil-law foundations, 1890.02, 1890.06
commercial purposes, 1850.05
drafting the orphan purpose, 1050.03
foundation as trustee, 2040.07, 3040.07
orphan vehicles in financings, 1050.02
Common law and equity, 240.01, 240.05
arbitral awards, 2370.03
assent to Ordinances, 130.08
Common Reporting Standard, 2770.01, 2770.02, 2770.03, 2770.04, 2770.05, 2770.06, 2770.07
common-law action on a judgment, 2310.03, 2330.01, 2330.02, 2330.03, 2330.04, 2330.05, 2330.06, 2330.08, 2330.09, 2330.10
common-law foundation statutes, 1890.03
controlling persons, 2770.01, 2770.02, 2770.03, 2770.04, 2770.05, 2770.06, 2770.07
FATCA, 2750.05
firewall provisions, 2310.03, 2330.01, 2330.02, 2330.03, 2330.04, 2330.05, 2330.06, 2330.08, 2330.10
fraudulent dispositions, 240.07
jurisdiction of the High Court, 240.03, 240.04
life insurance and trusts, 2330.07
public policy, 2330.07
recognition of foreign insolvency, 2370.03
Rubin decision, 2330.09
United Kingdom, 240.02, 240.06
winding up, 240.06
Common Reporting Standard, 2760.01, 2760.02, 2760.09
controlling persons, 2750.09, 2770.01, 2770.02, 2770.03, 2770.04, 2770.05, 2770.06, 2770.07
CRS Act, 2710.04
data protection, 2780.03
dates and thresholds, 2760.04
FATCA, 1780.01, 1780.02, 1780.03, 1780.04, 1780.05, 1780.06, 1780.07, 2740.04, 2750.09
investment entities, 1780.02
model 1B IGA, 2740.04
passive NFFEs and NFEs, 2770.03
penalties and appeals, 2760.07
reporting, nil returns and records, 2760.06
self-certification, 2760.05
settlors, 2770.07
trust companies, 2780.03
United States and the standard, 2760.08
wider approach, 2760.03
See also FATCA
Common-law action on a judgment
firewall provisions, 2310.01, 2310.03, 2310.08, 2330.01, 2330.02, 2330.03, 2330.04, 2330.05, 2330.06, 2330.08, 2330.09, 2330.10, 2340.02
life insurance and trusts, 2330.07
public policy, 2330.07
Rubin decision, 2330.09
Community property. See Matrimonial claims
Companies Act (federal), 2620.03
abolition of exemptions (2021), 2650.02, 2650.04
Belize, 1580.07, 160.03, E10.01
charging orders, 1540.01, 1580.06, 160.04, E40.02
Cook Islands, 1560.13, 1580.06, 3070.08, E01.04, E40.02, E70.03
Financial Services Regulatory Commission, 410.07, E10.01
liability shield, E01.04
Compensation and equitable remedies, 240.01, 1490.05, 2160.03
Bankers Trust orders, 2460.04, 2460.10
breach of trust, 520.05, 770.03, 770.07
constructive trusts, 770.04
duty of loyalty, 1430.04, 1430.05, 1430.08
firewall provisions, 2330.08, 2340.12
tracing, 770.04
Conditions on suit, 190.01, 1760.02, 2201.03, 2250.02, 2290.06
accrual of cause of action, 2250.03
commencement, 2250.01
firewall provisions, 2250.08
Foundations Ordinance's short period, 2250.05
hearings in camera, 2250.06
immunity of officials, 2250.07
joinder rule, 2250.04
Confidential Relationships Act, 1870.08, 1980.05, 2490.02, 2490.03, 2701.02, 850.07, A10.18, A20.18
Advisory Committee (NIETO), 580.02, 580.07
Bankers Trust orders, 2460.06, 2460.07, 2460.10
beneficial ownership registers, 2860.05, 2860.06
CPR Part 28, 2460.06, 2460.07, 2460.10
data protection, 2780.01, 2780.02, 2780.03
hearings in camera, 2250.06, 320.07
immunity of officials, 580.02, 580.07
Confidentiality, 1870.03, 1870.06, 1870.08, 1980.02, 1980.05, 2801.05, 450.06, 450.10, 450.11, 850.04, 850.06, A10.18, A20.18, B30.18
accounts and audit, 1980.04
Advisory Committee (NIETO), 580.01, 580.04, 580.05, 580.06, 580.07
annual compliance filings, 470.05
Bankers Trust orders, 2460.01, 2460.04, 2460.05, 2460.07, 2460.08, 2460.09, 2460.10
Breakspear v. Ackland, 850.03
by-law 36, C30.17
Confidential Relationships Act, 2460.06, 2780.01, 2780.02, 580.02, 850.07
CPR Part 28, 2460.01, 2460.04, 2460.05, 2460.06, 2460.07, 2460.08, 2460.09, 2460.10
data protection, 2780.01, 2780.02, 2780.03, 2780.04, 2780.05, 2780.06
Data Protection Act, 2780.04
EU and OECD listing, 2730.06
Financial Services Regulatory Commission, 450.01, 450.02, 450.12, 450.13
foundation classification abroad, 2080.02
foundation regulations, 1860.04
immunity of officials, 450.13, 580.01, 580.02, 580.03, 580.04, 580.05, 580.06, 580.07
management board, 1870.02, 1980.07
memorandum of establishment, 1860.04
Norwich Pharmacal decision, 2460.02, 2460.03
Norwich Pharmacal orders, 2460.02, 2460.03
notification of the person concerned, 2730.01, 2730.02, 2730.03, 2730.04, 2730.05, 2730.07
operating agreements, B10.12
public file, 1270.01, 1270.02, 1270.03, 1270.04, 1270.05, 1270.06, 1270.07, 1270.08, 1270.09, 1270.10
requests for information, 2720.07
settlors, 850.01, 850.02, 850.08
single-member LLCs, B10.12
supervisory board, 1870.05, 1980.07
tax information exchange, 2720.07
trust companies, 2780.03
trustees' duties, 750.09
United Kingdom, 2730.07
Conflicts of interest, 780.08, 1490.07, 1490.08
operating agreements, 1460.07, B10.08, B20.07
related-party transactions, 1470.01, 1470.02, 1470.03, 1470.04, 1470.05, 1470.06
Consent of beneficiaries, 330.05, 730.06, 780.08
accumulation of income, 690.03, 690.07, 860.02
Consent powers
Bermuda, 940.04
court test and control test, 2910.04, 2910.05
deadlock, 940.06
protectors, 2910.05, 3010.05, 920.05, 940.01, 940.02, 940.03, 940.04, 940.05, 940.07, 960.04, 960.06, 970.03, 990.01, 990.02, 990.04, A10.02
protector's powers, 920.05
Constitution of Saint Christopher and Nevis, 150.05, 201.02
entrenched provisions, 120.06
independence and the 1983 constitution, 110.04
Nevis Island Administration, 120.02
Nevis Island Legislature, 120.01, 120.02, 120.03, 120.04, 120.05, 120.06, 120.07, 120.08, 120.09
Constitution of trusts, 640.02, 640.07
completing the transfer, 640.04
declaration and transfer, 640.03
ordinance prescribes no form, 640.01
particular assets, 640.06
settlors, 640.05
Constructive trusts, 1490.05
breach of trust, 520.05, 770.07
compensation and equitable remedies, 770.04
firewall provisions, 2340.08, 2340.12
tracing, 770.04
Contempt of court
civil contempt, 2530.01, 2530.03, 2530.04, 2530.05, 2530.08
criminal contempt, 2550.01, 2550.02, 2550.03, 2550.04, 2550.05, 2550.06, 2550.07
federal Trade Commission v. Affordable Media, 2530.06
impossibility defense, 2530.01, 2530.02, 2530.03, 2530.04, 2530.05, 2530.06, 2530.07, 2530.08, 2530.09
Lawrence decision, 2530.07
repatriation orders, 2530.02
standard of proof, 2580.03
See also Repatriation orders
Continuance. See Transfer of domicile
Controlled foreign corporations, 1740.03
entity classification (U.S.), 1730.08, 1740.01
settlors, 1760.06, 2930.06, 2950.05
trust-owned LLCs, 2950.05
Controlling persons, 2701.03
Common Reporting Standard, 1780.01, 1780.03, 1780.04, 1780.07, 2750.09, 2760.03, 2760.05, 2760.07, 2760.09, 2770.01, 2770.02, 2770.03, 2770.04, 2770.05, 2770.06, 2770.07
FATCA, 1780.01, 1780.03, 1780.04, 1780.07, 2740.02, 2740.04, 2750.08, 2750.09
model 1B IGA, 2740.02, 2740.04, 2740.05
passive NFFEs and NFEs, 2750.08, 2770.03
settlors, 2770.07
Conversion, 1690.05
annual compliance filings, 1880.01, 1880.02, 1880.03, 1880.04, 1880.05, 1880.06, 1880.07, 1880.08, 1880.09, 1880.10, 1880.11, 1880.12, 1880.13
charging orders, 1680.07
departure from Nevis, 1680.08
emergency transfer of domicile, 1680.11
foundation registration, 1880.12
liability shield, 1680.05
mergers and consolidations, 1880.05, 2070.01, 2070.02, 2070.03, 2070.04, 2070.05, 2070.06, 2070.07, 2070.08, 2070.09, 2070.10, D70.03
transfer of domicile, 1680.01, 1680.02, 1680.03, 1680.04, 1680.05, 1680.06, 1680.07, 1680.08, 1680.09, 1680.10, 1680.11, 1680.12, 1880.02, 1880.03, 2070.01, 2070.02, 2070.03, 2070.04, 2070.05, 2070.06, 2070.07, 2070.08, 2070.09, 2070.10
Conversion of entities, 2090.05
mergers and consolidations, 1880.05, 2070.02, 2070.03, 2070.04, 2070.06, 2070.10
transfer of domicile, 1680.01, 1680.03, 2070.02, 2070.03, 2070.04, 2070.06, 2070.10
Cook Islands, 1170.08, 1560.13, 1950.09, 2140.04, 2180.02, 2280.01, 3070.08, E20.02, E30.02, E50.01
accrual of cause of action, 2180.02
appeals to the Privy Council, E10.01
arbitral awards, 2390.02
charging orders, 1560.13, 1580.06, E40.02
Companies Act (federal), 1580.06, E01.04, E70.03
creditor's bond, 2280.04
economic substance, E60.01
enforcers, 1950.09
Financial Services Regulatory Commission, E10.01
firewall provisions, 2390.02
foreclosure of interests, E40.02
forms of multiform foundation, E50.01
fraudulent dispositions, 160.03, E30.02
layering of jurisdictions, 3070.02, 3070.03, 3070.04, 3070.08
liability shield, 160.03, E01.04
Nevis Business Corporation Ordinance, E60.01
Co-trustees
breach of trust, 770.02
Delaware, 780.04
federal Trade Commission v. Affordable Media, 2530.06, 960.04
foreign trustees, 710.08
foundation as trustee, 2040.08, 3040.09
trust companies, 780.04
Court of Appeal (Eastern Caribbean), 370, 370.02, 370.05, 380.04
appellate authority from other member states, 370.06
Court of Appeal, 270.03
final and interlocutory decisions, 370.03
final Court of Appeal, 380.01
itinerant court, 370.01
leave and time limits, 370.04
Court supervision of trusts, 801.02
beneficiaries' information rights, 1970.05, 750.08
liability shield, 1660.06
Court test and control test, 2901.06, 2940.01
charging orders, 3050.02
duress clauses, 2910.03
Florida, 3050.03
foreign trusts (U.S. tax), 1160.07, 2910.01, 2910.02, 2910.03, 2910.04, 2910.05, 2910.06, 2910.07, 2920.03, 2920.06
forms 3520 and 3520-A, 2940.01
protectors, 2910.05
settlors, 2910.07
single-member LLCs, 3050.01, 3050.02, 3050.03, 3050.04, 3050.05, 3050.06, 3050.07, 3050.08, 3050.09
CPR. See Civil Procedure Rules 2023
CPR Part 28
Bankers Trust orders, 2460.01, 2460.04, 2460.05, 2460.06, 2460.07, 2460.08, 2460.09, 2460.10
Confidential Relationships Act, 2460.06
Norwich Pharmacal decision, 2460.02, 2460.03
Norwich Pharmacal orders, 2460.01, 2460.02, 2460.03, 2460.04, 2460.05, 2460.07, 2460.08, 2460.09, 2460.10
Creditor's bond, 1530.03, 2030.04, 2201.02, 2210.04, 2220.01, 2220.02, 2220.03, 2220.05, 2220.06, 2220.07, 2220.08, 2230.05, 2240.02, 2240.05, 2240.09, 2290.03, 2290.05, 340.06, 390.04
2020 bill, 2210.05
access to court, 2270.03, 2270.04, 2270.05, 2270.06
breadth of "creditor.", 2230.01
charging orders, 1530.04, 2240.03, 2240.06
Civil Procedure Rules 2023, 2290.07
company bond, 2240.01
company bond's history, 2210.06
consequences for interim relief, 2220.10
costs, 2260.07
family claimants, 2230.02
firewall provisions, 2230.07
foundation bond, 2240.07
foundation bond's history, 2210.07
foundation bond's other features, 2240.08
fraudulent dispositions, 2240.04, E30.02
governments and criminal proceedings, 2230.06
lapse of registration, 2230.09
layered structures, 2240.10
link to section 50(3), 2220.09
powers of appointment, 2260.03
practical purpose, 2210.02
release and calling of the bond, 2220.11
reputational risk, 2210.08
security for costs, 2260.03, 2260.07, 2260.08
standard of proof, E30.02
stated purpose, 2210.01
subject of the chapter, 2201.01
trust bond's history, 2210.03
trust property, 2220.04, 2230.03, 2260.08, 550.06
trusts migrated to Nevis, 2230.08
Creditors of beneficiaries, 801.02, 2301.03
discretionary trusts, 830.01, 830.02, 830.03, 830.04, 830.05, 830.06, 830.07, 830.08, 830.09
powers of appointment, 830.09
revocable trusts, 830.10
settlors, 830.03, 830.08, 830.10, 840.01
trust deeds, 830.07
Criminal confiscation, 2810.01, 2810.02
Financial Services Regulatory Commission, 2810.05, 410.04, 410.09
Cross-border insolvency, 2301.03, 2570.03, 2570.04, 2570.06, E01.03
centre of main interests, 2570.08
chapter 15 recognition, 2570.07
charging orders, 1370.09, 1680.07, B30.16
continuing concealment, 2570.02
criminal exposure, 2570.05
firewall provisions, 2310.05, 2390.05
Section 727 denial of discharge, 2570.01
CRS. See Common Reporting Standard
CRS Act, 2701.06, 2710.03, A30.08, D60.01
Common Reporting Standard, 1780.01, 1780.05, 2710.04, 2760.01, 2760.02, 2760.06, 2760.07, 2760.08, 2760.09, 2770.02, 2770.05
controlling persons, 2770.02, 2770.05
data protection, 2780.02, 2780.03
FATCA, 1780.01, 1780.05, 2740.04
trust companies, 2780.03
Customer due diligence
citizenship by investment, 2840.10
duty of care standard, 2740.05, 2830.01, 2830.02, 2830.03, 2830.04, 2830.05, 2830.06, 2830.07, 2830.08, 2830.09, 2830.10, 2830.11
liability shield, 2830.07
model 1B IGA, 2740.05
nominees and bearer shares, 2830.08
politically exposed persons, 2840.01, 2840.02, 2840.03, 2840.04, 2840.05, 2840.06, 2840.07, 2840.08, 2840.09, 2840.10
protectors, 2830.05
source of wealth, 2840.01, 2840.02, 2840.03, 2840.04, 2840.05, 2840.06, 2840.07, 2840.08, 2840.09
See also Beneficial ownership
Cy-près doctrine
charitable purposes, 1070.07
charitable trusts, 1060.08, 1070.01, 1070.02, 1070.03, 1070.04, 1070.05, 1070.06, 1070.08
distribution on termination, 1070.08
protectors, 1001.04, 1060.08, 1070.05
D
Data protection, 2780.04, 2780.05
beneficial ownership, 2780.06
Confidential Relationships Act, 2780.01, 2780.02
CRS Act, 2780.03
trust companies, 2780.03
consent powers, 940.02, 940.04, 940.06
Delaware, 1650.05
expulsion of members, 1630.07
judicial dissolution, 1650.05, 1650.06
protectors, 940.02, 940.04, 990.02, 990.05
redemption of interests, 1630.07
Death of a member, 1690.08
expulsion of members, 1630.08, 1630.09
liability shield, 1620.06, 1660.05
operating agreements, B10.11, B20.09
redemption of interests, 1630.08, 1630.09
Decanting, 3060.02
combination and division under section 39, 1140.05
distribution powers, 1140.01
objects of the power, 1140.04
Pilkington v. IRC, 1140.02
retroactive severance, 1140.07
Rule against perpetuities, 1140.03
uses of section 39, 1140.06
Default classification, 1701.04
entity classification (U.S.), 1730.01, 1730.02, 1730.03, 1730.04, 1730.06, 2950.01
Default judgment
common-law action on a judgment, 2330.03, 2330.10
Definition of trust, 530.03, 530.05, 530.08, 530.09, 530.10, 530.11
fraudulent dispositions, 530.07
intent to defraud, 530.07
statutory definition of a trust, 530.01
trust and international trust, 530.02
Delaware
apparent authority, 1350.05
bankruptcy of a member, 1640.10
beneficiaries' information rights, 260.06
co-trustees, 780.04
deadlock, 1650.05
dissenters' rights, 1670.07
expulsion of members, 1630.02
judicial dissolution, 1650.05
liability shield, 1350.05, 1580.02
manager-managed LLCs, 260.06
mergers and consolidations, 1670.07
redemption of interests, 1630.02
trust companies, 780.04
trustee indemnity, 1580.02
Derivative actions, 360.09, 1410.05, 1790.02
advancement of expenses, 1480.03, 1480.04, 1480.07
beneficiaries' information rights, 1380.06, 1380.07
exculpation clauses, 1480.03, 1480.04, 1480.07
Digital assets in structures, 2810.01
Directed trusts
duty of care standard, 1450.05, 760.04
exoneration clauses, 760.01, 760.02, 760.03, 760.04, 760.05, 760.06, 760.07, 760.08, 760.09
protectors, 740.03, 760.05, 910.03, 920.07, 960.02, 960.05
reserved powers, 550.05, 960.02
Disclaimer
class gifts, 870.01, 870.02, 870.03, 870.04, 870.05, 870.06, 870.07, 870.08, 870.09
Disclosure, A10.18
Bankers Trust orders, 2460.01, 2460.04, 2460.05, 2460.07, 2460.08, 2460.09, 2460.10
beneficiaries' information rights, 750.08
Confidential Relationships Act, 2460.06
CPR Part 28, 2460.01, 2460.04, 2460.05, 2460.06, 2460.07, 2460.08, 2460.09, 2460.10
cross-border insolvency, 2570.04
duty of loyalty, 1440.02, 1440.03
fraud on a power, 1440.05
interests of creditors, 1440.01, 1440.02, 1440.03, 1440.04, 1440.05, 1440.06, 1440.07
Norwich Pharmacal decision, 2460.02, 2460.03
Norwich Pharmacal orders, 2460.02, 2460.03
suspicious transaction reports, 2870.03
tipping off, 2870.03
trustees' duties, 750.08
See also Norwich Pharmacal orders
Discretionary trusts, A10.06
alienation of interests, 1970.03
creditors of beneficiaries, 830.01, 830.02, 830.03, 830.04, 830.05, 830.06, 830.07, 830.08, 830.09
fixed interest trusts, 820.07, 840.07
forfeiture, 1970.03
powers of appointment, 830.09
revocable trusts, 830.10
settlors, 830.03, 830.08, 830.10
spendthrift provisions, 840.07
terests under the general law, 820.03
trust deeds, 830.07
Disregarded entities, 2901.03
charging orders, 1560.01, 1560.07
entity classification (U.S.), 1730.10, 1740.01, 1750.04, 2950.01
Dissenters' rights
asset sales, 1670.01, 1670.02, 1670.03, 1670.04, 1670.05, 1670.06, 1670.08, 1670.09, 1670.10, 1670.11, 1670.12, 1670.13
Delaware, 1670.07
judicial dissolution, B30.21
liability shield, 140.04, 1601.02
mergers and consolidations, 1601.02, 1670.01, 1670.02, 1670.03, 1670.04, 1670.05, 1670.06, 1670.07, 1670.08, 1670.09, 1670.10, 1670.11, 1670.12, 1670.13, B30.21, D70.03
Dissolution, 1620.03, 1620.04, 1620.05, 1640.01, 1640.08, 1640.09, 360.07, B30.20, D70.04
annual compliance filings, 1880.01, 1880.02, 1880.03, 1880.04, 1880.05, 1880.06, 1880.07, 1880.08, 1880.09, 1880.10, 1880.11, 1880.12, 1880.13
change of stated form, C20.10, C30.19
charging orders, 340.08
claims against dissolved LLCs, 1660.07
court supervision of trusts, 1660.06
deadlock, 1650.05
death, bankruptcy or of a member, 1640.04
dissenters' rights, B30.21
drafting a successor-member provision, 1620.10
events specified in the agreement, 1640.02
foundation as beneficiary, 2050.06
foundation registration, 1880.12
foundation regulations, C20.10, C30.19
freedom of contract, 1320.06
judicial dissolution, 1320.06, 1490.06, 1640.05, 1650.01, 1650.02, 1650.03, 1650.06, 1650.07, 1650.08, 340.08, B30.21
liability shield, 1620.06, 1650.01, 1660.03, 1660.04, 1660.05
manager-managed LLCs, 1620.08
member-managed LLCs, 1620.07
mergers and consolidations, 1880.05
multi-member companies, 1620.11
operating agreements, 1620.02, 1650.04, B20.10
removal from the register, 1640.06
single-member LLCs, 1620.07, 1620.08, 2050.06, B10.14
SM Life Ventures decision, 1650.04
termination events, 1620.01
transfer of domicile, 1660.01, 1880.02, 1880.03
trusts as members, 1620.09
United Kingdom, 240.06
winding up, 1370.10, 1660.01, 1660.02, 1660.03, 1660.04, 1660.05, 1660.06, 1660.07, 1660.08, 1660.09, 1660.10, 1660.11, 1660.12, 1660.13, 1660.14, 1660.15, 1690.07, 240.06, 2470.05, B10.14, B20.10
See also Judicial dissolution
Distributions, 1510.06, 1590.02, 2940.11, B30.14
allocations of profits and losses, 1370.04
capital calls, 1550.01, 1550.02, 1550.03, 1550.04, 1550.05, 1550.06, 1550.07, 1550.08, 1550.09
charging orders, 1370.09, 1520.09, 1550.02, 1550.04, 1550.09, 1560.12
claims against dissolved LLCs, 1660.07
court supervision of trusts, 1660.06
cy-près doctrine, 1070.08
distribution on termination, 1070.08
drafting the operating agreement, 1390.04
enforceability of promises to contribute, 1370.02
exclusive remedy, 1520.09
foreign grantor trusts, 2930.02
forms of contribution, 1370.01
grantor trusts, 2930.02
liability shield, 1370.05, 1370.07, 1660.03, 1660.04, 1660.05
no statutory solvency limit, 1370.06
operating agreements, 1390.04, B10.09, B20.08
payment on termination of an interest, 1370.08
remedies for default and compromise, 1370.03
Section 6677 penalties, 2940.11
Section 672(f), 2930.01, 2930.03, 2930.04, 2930.05, 2930.06, 2930.07, 2930.08
settlors, 2930.06
single-member LLCs, B10.09
SM Life Ventures decision, 1370.07
tax payments under section 60(18), 1560.12
throwback rules, 2930.01, 2930.03, 2930.04, 2930.05, 2930.07, 2930.08
transfer of domicile, 1660.01
trustees' powers, 740.04
winding up, 1370.10, 1660.01, 1660.02, 1660.03, 1660.04, 1660.05, 1660.06, 1660.07, 1660.08, 1660.09, 1660.10, 1660.11, 1660.12, 1660.13, 1660.14, 1660.15
Distributions to U.S. beneficiaries
foreign grantor trusts, 2930.02
forms 3520 and 3520-A, 2940.04, 2990.01
grantor trusts, 2930.02
Section 672(f), 2930.01, 2930.03, 2930.04, 2930.05, 2930.06, 2930.07, 2930.08
settlors, 2930.06
throwback rules, 2930.01, 2930.03, 2930.04, 2930.05, 2930.07, 2930.08
Divorce. See Matrimonial claims
Drafting the operating agreement, 1390
operating agreements, 1390.01, 1390.02, 1390.03, 1390.04, 1390.05, 1390.06, 3080.04
Duress clauses, 2540.01, 2540.05, A20.14
alienation of interests, 2090.04
Arizona, 2540.07
court test and control test, 2910.03
duress direction, 780.02
duress events, 1190.04, 2090.04, A10.13
emergency transfer of domicile, 780.06
express powers to amend, 1190.02
federal Trade Commission v. Affordable Media, 960.04
foreign trusts (U.S. tax), 2910.03
foundation regulations, C20.08
impossibility defense, 2530.07
Lawrence decision, 2530.07
memorandum of establishment, C20.08
migration from Nevis, 1170.05
protectors, 1190.04, 2540.03, 2540.04, 2540.07, 960.04, 970.02, 970.05, A10.13
settlors, 1190.02, 2540.02, 2540.06
See also Contempt of court
Duress events, 350.05
alienation of interests, 2090.04
change of stated form, C20.10, C30.19
Corona Trust decision, 1130.07, 270.07, 730.09, 950.05
duress clauses, 1170.05, 1190.02, 1190.04, 2090.04, 2540.05, 780.06, 970.05, A10.13
federal Trade Commission v. Affordable Media, 2530.06, 960.04
foundation regulations, C20.02, C20.03, C20.04, C20.06, C20.08, C20.10, C30.13, C30.19
memorandum of establishment, C20.02, C20.03, C20.04, C20.08
migration from Nevis, 1170.05, 1170.08
protectors, 1190.04, 270.07, 730.09, 950.03, 950.05, 960.04, 970.05, 990.03, 990.05, A10.02, A10.10, A10.11, A10.13, A10.15
Duty of care standard, 1420.01, 1450.03, 1450.07, 2830.03, 2830.09, 2830.11
business decisions, 1450.04
citizenship by investment, 2840.10
delegation by trustees, 1450.05
directed trusts, 760.04, 760.09
exoneration clauses, 760.04, 760.09, 980.04
FATCA, 2740.05
identification procedures, 2830.01
liability shield, 1450.02, 2830.07
model 1B IGA, 2740.05
Nevis Business Corporation Ordinance, 2830.08
ongoing due diligence, 2830.10
operating agreements, 1460.03, B10.08
politically exposed persons, 2840.01, 2840.02, 2840.03, 2840.04, 2840.05, 2840.06, 2840.07, 2840.08, 2840.09, 2840.10
source of wealth, 2840.01, 2840.02, 2840.03, 2840.04, 2840.05, 2840.06, 2840.07, 2840.08, 2840.09
standard of care, 1410.01
trustee remuneration, 980.04
trustees' duties, 1450.01, 1940.02
trustee's own diligence on assets, 2830.06
Duty of loyalty, 1410.05, 1410.06, 1420.01, 1430.02, 1430.03, 1430.04, 1430.05, 1430.06, 1490.05, 240.01
duty of care standard, 1450.02, 980.04
interests of creditors, 1440.02, 1440.03
liability shield, 1380.06, 1401.03, 1450.02
loyalty and the general law, 1940.03
operating agreements, 1460.04, 1460.05, 1460.06, 1460.08
remedies for breach of loyalty, 1430.08
source of the duty, 1430.01
trustee remuneration, 1430.07
trustees' duties, 750.03
E
Eastern Caribbean Supreme Court
consequences for the planner, 310.07
constitution adopts the court, 310.03
entrenched provisions, 310.04
independence (1983), 310.01
local act, 310.06
neither federal nor island, 310.05
present name, 310.02
Economic and governance rights, 1510.03, 1620.04
bankruptcy of a member, 1570.03, 1570.05, 1570.06
expulsion of members, 1630.01, 1630.04
liability shield, 1610.02
manager-managed LLCs, 1340.07, 1570.03
operating agreements, 1610.08, 1610.10, 1620.02
organizing idea, 1601.03
Emergency transfer of domicile, 350.05, 1710.03
Corona Trust decision, 1130.07, 730.09, 950.05
departure from Nevis, 1290.07
duress clauses, 1190.04, 2540.07, 780.06, A10.13
foreign LLCs, 1290.01
liability shield, 1290.05
operating agreements, 1290.12
protectors, 1190.04, 2540.07, 2590.09, 590.02, 730.09, 950.05, 950.06, 990.05, A10.11
transfer of domicile, 1290.01, 1290.02, 1290.03, 1290.04, 1290.05, 1290.06, 1290.07, 1290.08, 1290.09, 1290.10, 1290.11, 1290.12, 1680.11
variation by the court, 1130.07
Enforcement of judgments
arbitral awards, 2310.06, 2370.07
Civil Procedure Rules 2023, 2320.01, 2320.07
Enforcers, 1850.03
Belize, 1080.03
duty of care standard, 2830.05, 2830.11
foundation as trustee, 2040.07, 3040.07
Jersey, 1080.03
mixed purpose and person trusts, 1080.04, 1080.07
onboarding, 2890.02, 2890.09, D50.01, D50.02
protectors, 1040.03, 1040.04, 1040.06, 1040.07, 1060.08, 2040.07, 2830.05
purpose trusts, 1080.07
Entity classification (U.S.), 1730.01, 1730.04, 1730.05, 1730.06, 1730.07, 1730.09, 1730.10, 1730.11, 1740.01
business entity versus trust, 2960.05
disregarded entities, 1750.04
foundation classification abroad, 2960.05
liability shield, 1730.03, 2950.01
per se corporations, 1730.02
winding up, 1730.08
Entrenched provisions, 150.05, 310.04, 1120.08
constitution of Saint Christopher and Nevis, 110.04, 120.06
Nevis Island Legislature, 120.06
EU and OECD listing
abolition of exemptions (2021), 2650.03
EU list of non-cooperative jurisdictions, 170.05, 1720.03, 2650.03
Global Forum peer reviews, 2730.06
notification of the person concerned, 2730.06
EU list of non-cooperative jurisdictions, 2601.04
abolition of exemptions (2021), 2650.01, 2650.02, 2650.03, 2650.07
Events of dissolution, 1690.09
Exclusive remedy, 1520, 1520.05, 2120.09
charging orders, 1520.09
company's property, 1520.03
foreign orders, 1520.08
liability shield, 1520.07
member keeps the member's rights, 1520.06
remedies excluded, 1520.02
sole remedy, 1520.01
trustee indemnity, 1520.04
Exculpation. See Exoneration clauses
Exculpation clauses, 260.04, 1410, 1410.05, 1410.06, 1410.07, 1460, 1480
advancement of expenses, 1480.01, 1480.02, 1480.03, 1480.04, 1480.05, 1480.06, 1480.07, 1480.08, 1480.09, 1480.10
duty of care standard, 1450.02, 980.04
exoneration clauses, 1460.08, 1480.01, 1480.02, 1480.03, 1480.04, 1480.05, 1480.06, 1480.07, 1480.08, 1480.09, 1480.10, 760.01, 980.04
operating agreements, 1460.08
Exempt status, 1720.02, 2601.02, 2610, 2640, 2660, 2660.07, 2670, 2690, 2690.01, 2690.05, 520.09, 550.01
accumulation of income, 550.04
Belize, E60.01
charging orders, 1510.08
community and entireties property, 550.07
Cook Islands, E60.01
EU and OECD listing, 1720.03
EU list of non-cooperative jurisdictions, 1720.03
former exemption, 1720.01
Nevis exemptions against this background, 2610.05
Nevis tax exemption provisions, 2640.01, 2640.02, 2640.03, 2640.04, 2640.05, 2640.06, 2640.07, 2640.08, 550.02
New York, 1510.08
perpetuities, 550.04
removal from the register, 1280.08
reserved powers, 550.05
trust property, 550.06
validity against foreign law, 550.03
See also Income tax
Exercise of discretion, 350.05
Corona Trust decision, 1130.07, 270.07, 730.09
protectors, 270.07, 350.07, 590.02, 730.09
trustees' duties, 750.05
Existing laws, 220.04
allocation between the legislatures, 220.03
construction in conformity, 220.02
continuity after 1983, 220.07
Eastern Caribbean Supreme Court Order, 220.06
meaning of ".", 220.05
repeal and savings, 220.01
Exoneration clauses, 1410, 1410.05, 1410.06, 1410.07, 1460, 1480, 1940.07
advancement of expenses, 1480.01, 1480.02, 1480.03, 1480.04, 1480.05, 1480.06, 1480.07, 1480.08, 1480.09, 1480.10
by-law 27, C30.14
directed trusts, 760.01, 760.02, 760.03, 760.04, 760.05, 760.06, 760.07, 760.08, 760.09
duty of care standard, 1450.02, 760.04, 980.04
exculpation clauses, 1460.08, 1480.01, 1480.02, 1480.03, 1480.04, 1480.05, 1480.06, 1480.07, 1480.08, 1480.09, 1480.10
operating agreements, 1460.08, 3080.03, 3080.08
Expatriation, 2901.03, 2980.01
alien land holding, 2980.08, 2980.09
covered expatriates, 2980.10
estate inclusion, 2980.04, 2980.06
gift completeness, 2980.02
settlors, 2980.03, 2980.06, 2980.07, 2980.08
trustee indemnity, 2980.05
Express powers to amend, 1120.02, 1190.06
duress clauses, 1190.02
fraud on a power, 1120.06, A20.16
protectors, 1090.06, 1110.03, 1120.05, 930.04, A10.15
purpose trusts, 1070.07, 1090.04, 1090.06
settlors, 1110.03, 1120.03, 1120.09, 1190.02, A10.15, A20.13
Texas, 1120.03
Expulsion of members, 1690.09
deadlock, 1630.07
Delaware, 1630.02
forfeiture, 1630.05
liability shield, 1380.05, 1620.06, 1630.01, 1630.06
operating agreements, 1260.05, 1630.03
protective trusts, 1630.05
redemption of interests, 1630.01, 1630.02, 1630.03, 1630.04, 1630.06, 1630.07, 1630.08, 1630.09
F
agreement and act, 2710.05
Common Reporting Standard, 1780.01, 1780.02, 1780.03, 1780.04, 1780.05, 1780.06, 1780.07, 2740.04, 2750.09
controlling persons, 2750.09
duty of care standard, 2740.05
equity interests in a trust, 2750.05
foreign financial institutions, 2750.06
investment entities, 1780.02, 2750.02
LLCs and foundations, 2750.07
model 1B IGA, 2740.01, 2740.02, 2740.03, 2740.04, 2740.05, 2740.06, 2740.07
passive NFFEs and NFEs, 2750.08
settlors, 2740.07
trustee-documented trusts, 2750.04, 2750.06
See also Common Reporting Standard
court test and control test, 2910.05, 2910.06
entity classification (U.S.), 1740.01, 1750.04
forms 3520 and 3520-A, 1750.06, 2990.01
passive foreign investment companies, 2970.01, 2970.02, 2970.03, 2970.04, 2970.05, 2970.06, 2970.07, 2970.08, 2970.09
reportable accounts, 2970.03
settlors, 2990.07
streamlined procedures and remediation, 2990.01, 2990.06, 2990.07, 2990.09
Federal income tax, 1790.02
charging orders, 1560.01, 1560.05, 1560.10, B20.02
operating agreements, B10.13, B20.02, B20.05
tax payments under section 60(18), 1560.01, 1560.05, 1560.10
Federal legislation, 290.06
arbitral awards, 2370.02, 2370.09
assent to Ordinances, 130.03, 130.07
constitution of Saint Christopher and Nevis, 120.05, 120.09
federal acts, 210.02
federal statutes, 2610.03
interpretation of statutes, 230.01, 230.02, 230.07
Nevis Island Legislature, 120.05, 120.09
recognition of foreign insolvency, 2370.02, 2370.09
statutory instruments and regulations, 210.07
Federal Trade Commission v. Affordable Media
civil contempt, 2530.04, 2530.05, 2530.06
duress clauses, 2540.02, 2540.04, 2540.05, 2540.07
impossibility defense, 2530.04, 2530.05, 2530.06, 2530.08
protectors, 2510.03, 2540.04, 2540.07, 960.04, 960.05, 970.03, 970.04, 990.04, A10.11
repatriation orders, 2520.04, 2520.09
reserved powers, 960.04
settlors, 1170.06, 1760.05, 2501.02, 2520.09, 2540.02, 2590.04, 960.05, 990.04
Federation of Saint Christopher and Nevis, 1720.02, 1720.05, 2690.02, 2690.03, 2690.08
Anguilla, 110.03
asymmetric federation, 110.05
by-law 4(3), C30.07
citizenship by investment, 2680.01
colonial origins, 110.01
Common Reporting Standard, 1780.05
companies doing business in the Federation, 1220.03
constitution of Saint Christopher and Nevis, 110.04
currency and the region, 110.07
economic substance, 1720.07
EU and OECD listing, 1720.03
EU list of non-cooperative jurisdictions, 1720.03
FATCA, 1780.05, 2740.03, 2740.04
Federation reporting, D60.02
firewall provisions, 2340.05
model 1B IGA, 2740.03, 2740.04
no land in the Federation, 540.08
Union and the West Indies, 110.02
Fiduciary duties
duty of loyalty, 1430.01, 1430.02, 1430.03, 1430.04, 1430.05, 1430.06, 1430.07, 1430.08, 1460.04
operating agreements, 1460.04
trustee remuneration, 1430.07
See also Exoneration clauses
Financial Intelligence Unit, 150.04, 2801.03
Financial Services Regulatory Commission, 2810.05, 410.04, 410.06, 420.06
Financial Services Commission Guidance Notes, 2801.03
duty of care standard, 2830.03, 2830.05, 2830.06, 2830.10
introducers and reliance, 2850.05, 2850.06
onboarding, 2890.03, 2890.06, 2890.09, D50.02
politically exposed persons, 2840.02, 2840.04, 2840.05, 2840.08
Financial Services (Regulation) Ordinance, 401.04, 460.01
commencement, 430.01
Financial Services Regulatory Commission, 410.07, 410.08, 410.09, 410.13, 420.02, 420.03, 420.04, 420.05
introducers and reliance, 2850.07, 2850.08
protectors, 1090.06, 430.06, 430.08, 980.02
record keeping, 2850.07, 2850.08
regulated activities, 430.01, 430.02, 430.03, 430.04, 430.05, 430.06, 430.07, 430.08
Financial Services Regulatory Commission, 101.03, 150.03, 401.02, 410, 410.01, 410.03, 410.04, 410.05, 410.06, 410.07, 420.03, 420.06, 440.11, 450.02, 510.07, 2810.05
administrative penalties, 410.12
Advisory Committee (NIETO), 420.05
assent to Ordinances, 130.04, 130.07
authoritative texts, 250.06, 250.07
Belize, E10.01
confidentiality and exchange of information, 450.12
Cook Islands, E10.01
examination and investigation, 410.10
federal body, 410.02
federal law applied in Nevis, 2801.02
federal legislation, 130.07, 210.07
immunity of officials, 450.13
licensing committee carve-out for Nevis, 410.08
licensing requirement and offence, 410.09
Nevis branch, 420.01
Nevis licensing committee, 420.04
Nevis regulator, 420.02
records for the authorities, 480.05
regulator's description, 1810.07
regulator's responsibilities, 450.01
regulatory appeals, 410.13
sanctions and the 2026 amendment, 410.11
standard of proof, 2130.04
Firewall provisions, 2310, 2310.01, 2310.02, 2320, 2330, 2340, 2340.02, 2350, 2350.01, 2350.03, 2350.07, 2350.09, 2380, 2390, 2390.06, 2390.08
arbitral awards, 2310.06, 2370.08
Belize, 2390.03
beneficial interests, 880.03
British Virgin Islands, 2390.05
charging orders, 2350.02, 2350.04
common design, 2390.01
common-law action on a judgment, 2310.03, 2330.01, 2330.02, 2330.03, 2330.04, 2330.05, 2330.06, 2330.08, 2330.09, 2330.10
condition (ii), 2340.05
conditions on suit, 2250.08
Cook Islands, 2390.02
design principles, 2390.07
exclusion of foreign laws, 2340.07
federal and Nevis law, 2310.08
forced heirship, 2340.10, 880.03, A20.17
foreign judgments and foreign law, 2030.07
formation and transfers, 2350.05
foundation choice-of-law firewall, 2350.10
foundation firewall, 2350.08
founder's reserved rights, 1960.05
fraudulent dispositions, 2340.11
layered structures, 2350.11
life insurance and trusts, 2330.07
LLC choice-of-law firewall, 2350.06
missing conjunction, 2340.06
recognition of foreign insolvency, 2370.08
recognition of foreign judgments, 2230.07
Rubin decision, 2330.09
settlors, 2340.04, 2340.08, 2340.09
term "firewall.", 2301.02
three-year charging order limit, 1540.05
validity, foreign law and foreign judgments, 340.05
See also Foreign judgments
Fixed date claims, 330.05, 2470.07
Corona Trust decision, 1130.07, 270.07
Fixed interest trusts, 801.04
discretionary trusts, 820.07
forfeiture, 840.07
settlors, 840.01, 860.05, 890.06
spendthrift provisions, 840.01, 840.07
terests under the general law, 820.02
Florida
charging orders, 1580.04
Companies Act (federal), 1580.07
court test and control test, 3050.03
foreclosure of interests, 1580.04, 1580.07, 1760.08
migration from Nevis, 1170.08
protectors, 950.06
qualifying trustee requirement, 2510.04
removal of protectors, 950.06
single-member LLCs, 3050.03
trust companies, 2510.04
Forced heirship, 2360.01, 2360.07
alienation of interests, 2020.08
beneficial interests, 880.01, 880.02, 880.03, 880.04, 880.05, 880.06, 880.07, 880.08, 880.09
civil-law foundations, 2020.07
community property, 2360.05
firewall provisions, 2340.10, 880.03, A20.17
forfeiture, 2020.08
Liechtenstein, 2020.07
matrimonial orders abroad, 2360.04
Nevis answer, 2360.02
opting out, 2360.06
personal-relationship claims, 2020.01, 2020.02, 2020.03, 2020.04, 2020.05, 2020.06, 2340.10, 2360.03
qualifying trustee requirement, 880.08
Texas, 2360.08
Webb decision, 880.09
See also Matrimonial claims
Foreclosure of interests
charging orders, 1520.09, 1570.01, 1580.04, 1680.07, 3050.02, 340.07, E40.01, E40.02
court test and control test, 3050.02, 3050.03, 3050.09
exclusive remedy, 1520.02, 1520.04, 1520.09
Florida, 1580.04, 1580.07, 1760.08, 3050.03
Foreign financial institutions, D60.01
Common Reporting Standard, 1780.05, 2710.04, 2760.02, 2760.09
data protection, 2780.02, 2780.03
FATCA, 1780.05, 2740.01, 2740.03, 2750.03, 2750.04, 2750.06
Foreign grantor trusts
forms 3520 and 3520-A, 1750.06, 2940.03, 2940.06, 2940.08
grantor trusts, 2930.02
Section 6677 penalties, 2940.03, 2940.06, 2940.08
Section 672(f), 2930.02
Foreign judgments, 2310, 2320, 2330, 2340, 2350, 2390
arbitral awards, 2310.06
beneficial interests, 880.03
Civil Procedure Rules 2023, 2320.01, 2320.03, 2320.04, 2320.05, 2320.06, 2320.07, 2320.08, 2320.09
common-law action on a judgment, 2310.03, 2330.01, 2330.02, 2330.03, 2330.04, 2330.05, 2330.06, 2330.08, 2330.09, 2330.10
conditions on suit, 2250.08
firewall provisions, 1540.05, 2030.07, 2230.07, 2250.08, 2310.01, 2310.02, 2310.03, 2310.04, 2310.05, 2310.06, 2310.07, 2310.08, 2330.01, 2330.02, 2330.03, 2330.04, 2330.05, 2330.06, 2330.08, 2330.10, 340.05, 880.03, A20.17
forced heirship, A20.17
life insurance and trusts, 2330.07
public policy, 2330.07
Reciprocal Enforcement of Judgments Act, 2320.01, 2320.02, 2320.03, 2320.04, 2320.05, 2320.06, 2320.07, 2320.08, 2320.09
Rubin decision, 2330.09
three-year charging order limit, 1540.05
United Kingdom, 2320.02
See also Firewall provisions
Foreign LLC registration, 1710.03
court test and control test, 3050.03, 3050.09
Delaware, 1670.07
dissenters' rights, 1670.01, 1670.06
emergency transfer of domicile, 1290.01, 1290.02, 1290.05, 1290.06, 1290.10, 1680.11
Florida, 1580.04, 1760.08, 3050.03
foreclosure of interests, 1580.04
liability shield, 1220.04, 1680.05
mergers and consolidations, 1670.01, 1670.06, 1670.07, D70.03
transfer of domicile, 1290.01, 1290.02, 1290.05, 1290.06, 1290.10, 1680.05, 1680.06, 1680.11, 1680.12
Foreign LLCs, 540.10, 1710.03, 2660.07, 2690.01
Delaware, 1670.07
dissenters' rights, 1670.01, 1670.06
emergency transfer of domicile, 1290.01, 1290.10, 1680.11
mergers and consolidations, 1670.01, 1670.06, 1670.07, D70.03
transfer of domicile, 1290.01, 1290.10, 1680.05, 1680.11, 1680.12
Foreign trustees, 2510.05, 3060.03
qualifying trustee requirement, 1160.02, 2510.04
Foreign trusts (U.S. tax), 1750.01, 2920.03, 2920.06, 2920.08, 2920.09, 2940.01, 2940.11, 3060.03, 560.02, 560.04
business entity versus trust, 1890.06, 2960.02, 2960.06
civil-law foundations, 1890.06
court test and control test, 2910.01, 2910.02, 2910.03, 2910.04, 2910.05, 2910.06, 2910.07
duress clauses, 2910.03
failure points, 3060.09
forms 3520 and 3520-A, 2940.01
foundation classification abroad, 2080.06, 2960.02, 2960.06
grantor trusts, 2920.03, 2920.06, 2920.08, 2920.09
order of registration, 1160.03
protectors, 2910.05
qualified foreign trust, 560.03
qualifying trustee requirement, 1160.02
Section 672(f), 2930.04, 2930.05
settlors, 1160.05, 2910.07, 2950.07
trusts migrating from the United States, 1160.07, 3060.06
See also Forms 3520 and 3520-A
Forfeiture, 1620.04, 1690.09, 1990.05, 1990.06, 1990.07, 2090.03, 2090.05, 2810.01, C01.01, C01.02
alien land holding, 2670.02, 2670.04
alienation of interests, 1970.01, 1970.02, 1970.03, 1970.04, 1970.05, 1970.06, 1970.07, 1970.08, 2020.08
beneficiaries' information rights, 1970.05, 1970.06
discretionary trusts, 1970.03, 820.07
expulsion of members, 1630.05
fixed interest trusts, 820.07, 840.07
foundation regulations, C20.02, C20.08, C30.15
memorandum of establishment, C20.02, C20.08, C30.15
personal-relationship claims, 2020.02, 2020.08
protective trusts, 1630.05, 840.06
removal from the register, 1280.04, 1280.05
repatriation orders, 2520.05
Form 8832, 1750.01, 1790.02, 1790.09, B30.23, D20.01
entity classification (U.S.), 1730.05, 1730.06, 1730.09, 1730.11, 1740.01, 2950.01
Formation of LLCs, 1240, 1240.05, 1240.08, 1860.05
admission of members, 1330.02
amending and restating the articles, 1240.10
amending the constitution, 1860.09
articles of organisation, 1240.02
change of name, 1860.07
changes of proper law, 1860.11
emergency transfer of domicile, 1290.12
filing periods after formation, D30.05
firewall provisions, 2350.05
foundation regulations, 1860.04, 1890.09
liability shield, 1260.04, 1860.06
memorandum of establishment, 1860.01, 1860.02, 1860.04, 1890.09
onboarding, 2890.07
operating agreements, 1240.11, 1260.02, 1260.05
series LLCs, 1260.06, 1260.07, 1330.02
single-member LLCs, 1260.01, 1260.02, 1260.03, 1260.04, 1260.05, 1260.06, 1260.07, 1260.08
SM Life Ventures decision, 1240.03
transfer of domicile, 1290.12
Forms 3520 and 3520-A, 2940.01, 2940.11
Section 6677 penalties, 2940.01, 2940.02, 2940.03, 2940.04, 2940.05, 2940.06, 2940.07, 2940.08, 2940.09, 2940.10, 2940.11, 2990.01
settlors, 2940.09
streamlined procedures and remediation, 2990.01
trust-owned company, 1750.06
Forms of multiform foundation, 1830.01, 1910.01, 1910.03, 2090.05
change of stated form, 2060.01, 2060.02, 2060.03, 2060.04, 2060.05, 2060.06, 2060.07, 2060.08, C20.10
choosing the stated form, 1890.07
foundation as trustee, 1830.04, 2040.01
foundation charter, C10.04
foundation regulations, 1890.09, 1910.06, 1910.07, 1910.08, C20.10, D30.01
liability shield, 1830.05, 1860.06, D30.02
management board, 1910.02, 1910.04, 1910.07
memorandum of establishment, 1810.04, 1890.09, 1910.06, 1910.08, 2060.04, C10.04, D30.01
ordinary foundation, 1830.07
protectors, 1910.04
table of the mapping, 1910.05
Foundation as beneficiary, 1870.07, 2050.01
by-law 8(3), C30.10
company foundation of LLC form, 2050.07
foundation as manager, 2050.05
foundation as trustee, 3040.08
foundation holding LLC interests, 2050.04
layering of jurisdictions, 3070.05
membership interests, 2050.04
non-resident requirement, 2050.02, 2050.03
single-member LLCs, 2050.06
Foundation as trustee, 2040, 2040.01, 2040.02, 2040.08, 3040.01, 3040.02
failure points, 3040.09
forms of multiform foundation, 1830.04
foundation as beneficiary, 3040.08
keeping the property apart, 3040.05
licensing limit, 3040.03
licensing overlay, 2040.03
ownership in a trust foundation, 1820.05
private trust companies, 2040.04, 3040.04
protectors, 1950.05, 2040.06, 2040.07, 3040.06
purpose trusts, 2040.07
supervisory board, 1950.05, 2040.06
trust companies, 2040.04, 3040.04
trust foundation as purpose vehicle, 3040.07
trust property, 2040.05
Foundation beneficiaries, 350.05
Foundation charter, C10
forms of multiform foundation, C10.04
foundation regulations, C10.06, C10.07
founder's reserved rights, 1960.06
memorandum of establishment, 1860.02, 1960.06, C10.01, C10.02, C10.03, C10.04, C10.05, C10.06, C10.07, C10.08
Foundation classification abroad, 2080.02, 2080.03
business entity versus trust, 2960.01, 2960.02, 2960.03, 2960.04, 2960.05, 2960.06
civil-law foundations, 2960.02
entity classification (U.S.), 2960.05
foreign trusts (U.S. tax), 2080.06
information exchange, 2080.05
public file, 2080.01
reducing the founder's control, 2080.04
Foundation holding LLC interests, 3030.01, 3030.02, 3030.03
failure points, 3030.07
foundation as beneficiary, 2050.04
foundation classification abroad, 2080.06, 2960.03
governance choices, 3030.05
membership interests, 2050.04
memorandum of establishment, 3030.04
tax and reporting, 3030.06
Foundation registration, 570.08, A30.08, D30.04
annual compliance filings, 1880.12
memorandum of establishment, 1860.01, D30.01
registration of trusts, 560.06
Foundation regulations, 1990.01, 1990.07, 2090.05, C01.02, C01.06, C20, D30.03, D30.04
alienation of interests, 1970.04, 1970.05, 1970.07
change of stated form, 2060.04, 2060.05, C20.10, C30.19
forfeiture, 1970.04, 1970.07, C20.08
forms of multiform foundation, 1810.04, 1830.04, 1830.07, 1910.04, 1910.06, 1910.07, 2060.04, 2060.05
foundation as trustee, 1830.04, 1950.05, 3040.01
foundation charter, C10.03, C10.06, C10.07, C10.08
founder's reserved rights, 1960.03, 1960.04, 1960.06
management board, 1860.10, 1890.09, 1910.04, 1910.07, 1910.08, 1920.04, 1920.05, 1920.11, 1930.03, 1930.09, 1940.06, C20.02, C20.03, C20.04, C20.05, C20.07, C20.09, C30.12
memorandum of establishment, 1810.04, 1830.09, 1860.01, 1860.04, 1890.09, 1910.06, 1910.08, 1920.05, 1920.11, 1960.03, 1960.04, 1960.06, 280.04, 3030.04, C10.03, C10.06, C10.07, C10.08, C20.01, C20.02, C20.03, C20.04, C20.06, C20.07, C20.08, C20.09, C20.10, C30.08, C30.12, C30.13, C30.15, C30.16, C30.19, D30.01
proper-law provisions, 280.04, 280.05
supervisory board, 1860.10, 1940.06, 1950.05, 1990.03, C20.05, C20.06, C30.13
Foundations. See Multiform foundations
Founders, 2030.02, 2090.05, C30.09
firewall provisions, 1960.05
foundation charter, C10.02
foundation classification abroad, 2080.03, 2080.04
foundation regulations, 1960.03, 1960.04, C20.03, C30.08
founder's reserved rights, 1960.01, 1960.02, 1960.04, 1960.05, 1960.06, 1960.07, 1960.08
fraudulent dispositions, 2030.03
memorandum of establishment, 1960.03, 1960.06, C10.02, C20.03, C30.08
reserved powers, 2090.02
specified matters, C40.06
succession vehicles, 2010.05
supervisory board, 1960.07
Founder's reserved rights
firewall provisions, 1960.05
foundation charter, 1960.06
foundation classification abroad, 2080.03, 2960.05
foundation regulations, 1860.04, 1960.03, 1960.04
founder control and tax classification, 1960.08
memorandum of establishment, 1860.04, 1960.03, 1960.04, 1960.06
statutory rights of subscribers, 1960.02
subscriber's position, 1960.01
supervisory board, 1960.07
Fraud on a power, 1120.06
beneficiaries' information rights, 1380.02
clauses 14 and 15, A20.16
interests of creditors, 1440.05
liability shield, 1380.02
Fraudulent dispositions, 2110, 2120, 2150, 2170, 2180
accrual of cause of action, 2170.01
bankruptcy and the Statute of Elizabeth, 670.07
beyond reasonable doubt standard, E30.02
Cook Islands, 160.03
definition of trust, 530.07
English statutes displaced by the ordinances, 240.07
firewall provisions, 2340.11
founder's creditors, 2030.03
fraudulent-disposition claims under section 61, 2240.04
intent to defraud, 2120.04, 530.07
settlors, 2180.05
standard of proof, E30.02
two-year limitation, 2170.01
See also Limitation periods; Solvency; Standard of proof
Fraudulent transfers. See Fraudulent dispositions
Freedom of contract, 660.08, 1320.01
default rules, 1320.07
identifying a mandatory rule, 1320.02
inspection right, 1320.04
judicial dissolution, 1320.06
rules that protect third parties, 1320.05
rules the agreement cannot vary, 1320.03
Freezing orders
CPR Part 17, 2430.01, 2430.02, 2430.03, 2430.04, 2430.05, 2430.06, 2430.07
interim relief, statutory bars, 2440.06
without notice applications, 2430.04, 2430.05
See also Injunctions
FSRC. See Financial Services Regulatory Commission
Full and frank disclosure, 2490.02
G
Gift and estate tax, 2610.06
alien land holding, 2980.08, 2980.09
expatriation, 2980.07, 2980.09, 2980.10
Nevis tax exemption provisions, 2640.02, 2640.04, 550.02
non-American owner, 1740.04
Global Forum peer reviews, 170.01, 2710.03
CFATF mutual evaluation, 2880.07
EU and OECD listing, 2730.06
notification of the person concerned, 2730.03, 2730.05, 2730.06
Good faith
duty of loyalty, 1440.02, 1440.03
fraud on a power, 1440.05
interests of creditors, 1440.01, 1440.02, 1440.03, 1440.04, 1440.05, 1440.06, 1440.07
Governing law, 1150.02, 660, 660.01, 660.08, A10.03, A10.14, A20.04, B30.22
Belize, 1150.08
change from Nevis law, 1150.04
change of governing law, 660.07, 740.07
change to Nevis law, 1150.03
changes of proper law, 1860.11
closest connection, 660.04
court's jurisdiction, 1150.07
firewall provisions, 2350.06, 2350.10
foundation regulations, 1910.06, C10.06
memorandum of establishment, 1910.06, 280.04, C10.06
Nevis fallback, 660.05
power to change the proper law, 1190.03
proper-law provisions, 280.01, 280.02, 280.03, 280.04, 280.05
severable aspects, 1150.06, 660.06
trustees' powers, 740.07
Governor-General
alien land holding, 2670.02, 2670.04
Civil Procedure Rules 2023, 2320.04, 2320.06
constitution of Saint Christopher and Nevis, 110.04, 120.02, 120.04
Reciprocal Enforcement of Judgments Act, 2320.02, 2320.04, 2320.06
Grantor trusts, 2920.01, 2920.02, 2920.03, 2920.04, 2920.06, 2920.07, 2920.08, 2920.09
distributions to U.S. beneficiaries, 2930.01, 2930.03, 2930.05, 2930.07, 2930.08
foreign grantor trusts, 2930.02
foreign trusts (U.S. tax), 2920.03, 2920.06
loans from foreign trusts, 2920.05
Section 672(f), 2930.01, 2930.02, 2930.03, 2930.04, 2930.05, 2930.06, 2930.07, 2930.08
self-settled trusts, 2920.02
settlors, 2920.01, 2920.07, 2920.08, 2920.09, 2930.06
throwback rules, 2930.04
trust property, 2920.05
See also Foreign trusts (U.S. tax)
H
Hague Evidence Convention, 660.08
Hague Service Convention
protectors, 2420.05
Hastings-Bass principle, 780.08
Hearings in camera
access to court, 2270.06
Advisory Committee (NIETO), 580.03
conditions on suit, 2250.06
hearing in private, 2410.06
hearings in private, 320.07
immunity of officials, 580.03
Heirship claims. See Forced heirship
High Court (Nevis Circuit), 320.01
applications under Part 11, 2410.02
commercial Division, 320.06
constitutional jurisdiction, 320.05
forms of originating process, 2410.01
hearings in camera, 2410.06, 320.07
High Court, 270.04
issuing without a statement of claim, 2410.03
jurisdiction in general, 320.02
jurisdiction of the High Court, 240.03, 320.03, 320.04
Nevis Island Administration, 320.08
representation and electronic filing, 2410.07
SM Life Ventures decision, 320.04, 320.06
statutory preconditions, 2410.05
time for acknowledgment and defence, 2410.04
I
Immunity of officials
Advisory Committee (NIETO), 580.01, 580.02, 580.03, 580.04, 580.05, 580.06, 580.07
conditions on suit, 2250.07
Confidential Relationships Act, 580.02
Financial Services Regulatory Commission, 450.13
hearings in camera, 580.03
Impossibility defense
civil contempt, 2530.01, 2530.02, 2530.03, 2530.04, 2530.05, 2530.06, 2530.07, 2530.08, 2530.09
contempt of court, 2530.01, 2530.03, 2530.04, 2530.05, 2530.08, 2580.07
federal Trade Commission v. Affordable Media, 2530.06
Lawrence decision, 2530.07
repatriation orders, 2530.02
settlors, 2530.09, 2540.06, 2580.07, 2590.02, 970.07
trustee's response to foreign orders, 2590.02, 2590.06, 2590.09
Income tax, 2620.01, 2620.02, 2620.03, 2620.06, 2620.09
charitable purposes, 1060.03
charitable trusts, 1060.03
Common Reporting Standard, 1780.04
corporate rate, 2620.04
expatriation, 2980.01
FATCA, 1780.04
interests of creditors, 1440.04
non-resident requirement, 2620.08
settlors, 2620.07
trustees as taxpayers, 2620.05
Income tax payments by LLC
charging orders, 1560.02, 1560.03, 1560.12
tax payments under section 60(18), 1560.02, 1560.03, 1560.12
Indemnification, 1410, 1410.03, 1480, 1490, 1940.08, 1940.09, A10.19
advancement of expenses, 1480.01, 1480.02, 1480.03, 1480.04, 1480.05, 1480.06, 1480.07, 1480.10
declaration of interests, 1940.05
directed trusts, 760.01, 760.02, 760.03, 760.04, 760.05, 760.06, 760.07, 760.08, 760.09
duties owed to the foundation alone, 1940.04
duty of care standard, 1940.02
duty of loyalty, 1940.03
exculpation clauses, 1480.01, 1480.02, 1480.03, 1480.04, 1480.05, 1480.06, 1480.07, 1480.08, 1480.09, 1480.10
exoneration clauses, 1480.08, 1480.09, 1940.07, 760.01, 760.02, 760.03, 760.04, 760.06, 760.07, 760.08, 760.09
limitation of liability and indemnity, B30.13
management board, 1940.06
operating agreements, B10.08
relief and indemnity by beneficiaries, 890.03
relief by the court, 1940.10
single-member LLCs, B10.08
statutory duties, 1940.01
Injunctions, 2290.02
charging orders, 2440.05, 2440.08
consequences for interim relief, 2220.10
CPR Part 17, 2430.01, 2430.02, 2430.03, 2430.04, 2430.05, 2430.06, 2430.07
freezing orders, 2430.01, 2430.02, 2430.03, 2430.05, 2430.06, 2430.07, 2440.06
interim relief, 360.04
interim relief, statutory bars, 2440.01, 2440.02, 2440.03, 2440.04, 2440.05, 2440.06, 2440.07, 2440.08
no interim relief against the company, 1530.06
settlors, 2440.04
trust property, 2440.02, 2440.03
without notice applications, 2430.04
See also Freezing orders
Insurance, 1410.03, 1940.09, B40.03
advancement of expenses, 1480.01, 1480.02, 1480.03, 1480.04, 1480.05, 1480.06, 1480.07, 1480.10
exculpation clauses, 1480.01, 1480.02, 1480.03, 1480.04, 1480.05, 1480.06, 1480.07, 1480.08, 1480.09, 1480.10
exoneration clauses, 1480.08, 1480.09
protectors, 980.05
trustee remuneration, 980.05
Intent to defraud
Alaska, 2560.08
definition of trust, 530.07
fraudulent dispositions, 160.03, 2030.03, 2120.04, 2180.05, 530.07, E30.02
settlors, 1160.06, 2120.10, 2130.07, 2150.07, 2180.05
Interests of creditors, 1440.06
application to holding structures, 1440.07
duty of loyalty, 1440.02, 1440.03
fraud on a power, 1440.05
good faith in the Ordinance, 1440.01
withholding information from members, 1440.04
Interim relief, statutory bars, 1530.10, 2440.01
charging orders, 2440.05, 2440.08
freezing orders, 2440.06
Multiform Foundations Ordinance, 2440.07
settlors, 2440.04
International exempt trusts, 140.03, 2030.04, 2690.03, 340.02, 540.01, 540.05, 540.07, 540.09, 540.10, 610.06, A01, A10, A20, A30, A30.07, D10.01, D10.02, D10.03, D10.04
beneficiaries' creditors, 2030.05
definition of trust, 530.02
Financial Services (Regulation) Ordinance, 430.07
firewall provisions, 2030.07, 2340.01
foundation as trustee, 2040.02
foundation or international trust, 1890.05
foundation's own creditors, 2030.06
founder's creditors, 2030.02
fraudulent dispositions, 2030.03
international trust, 2660.02, 610.02
no land in the Federation, 540.08
no Nevis land, 610.05
non-resident requirement, 540.06, 610.04
proper-law provisions, 280.02
protector as fiduciary, 930.03
protectors, 1110.03
purpose of the comparison, 2030.01
qualifying trustee requirement, 540.03, 540.04, 610.03, 610.07
registration as an element, 540.02
regulated activities, 430.07
settlors, 1110.03, 610.04, 610.07
statutory definition of a trust, 610.01
succession vehicles, 2010.08
trust moving to Nevis, D10.05
trust-owned LLCs, 3020.01, 3020.02, 3020.03, 3020.04, 3020.05, 3020.06, 3020.07
Interpretation of statutes, 230, 230.01, 230.02, 230.05, 260.02, 290.06
commencement, 230.04
definitions that matter to planners, 230.03
imperial acts, 230.07
repeal and savings, 230.06
Introducers and reliance, 1690.09, 2690.08
model 1B IGA, 2740.03, 2740.06
record keeping, 2850.01, 2850.02, 2850.03, 2850.04, 2850.05, 2850.06, 2850.07, 2850.08, 2850.09
Investment accounts, 2170.07
charging orders, 1510.08, 1590.08, 1680.07, 2440.08
member-managed LLCs, 1240.04, 1620.07
Investment entities, 1701.04, 2790.07
Common Reporting Standard, 1780.02, 1780.03, 1780.07, 2750.09, 2760.09, 2770.06, 2770.07
controlling persons, 2750.09, 2770.06, 2770.07
FATCA, 1780.02, 1780.03, 1780.07, 2740.06, 2750.02, 2750.03, 2750.05, 2750.07
J
Jersey
distribution powers, 2380.04
enforcers, 1080.03
firewall provisions, 2380.03, 2390.04
mixed purpose and person trusts, 1080.03
qualifying trustee requirement, 1160.08
unborn and minor beneficiaries, 1160.08
Joint ventures and funds, 1701.02, 1770.06
forms of multiform foundation, 1890.07, 2060.06
holding companies, 1770.01
investment vehicles, 1770.04
joint ventures, 1770.03
LLC with a multiform foundation, 1770.05
real estate holding, 1770.02
Judicial Committee. See Privy Council
Judicial dissolution, 1490.06, 1640.05, 1650, 1650.02, 1650.06
charging orders, 340.08
deadlock, 1650.05
Delaware, 1650.05
dissenters' rights, B30.21
freedom of contract, 1320.06
liability shield, 1650.01, 340.08
mergers and consolidations, B30.21
no alternative remedies, 1650.07
operating agreements, 1650.04
procedure and consequences, 1650.08
SM Life Ventures decision, 1650.03, 1650.04
unfair prejudice, 1650.03
Jurisdiction of the High Court, 240.03, 2470.04, 370.05
equity and inherent jurisdiction, 240.04
inherent jurisdiction, 320.03
SM Life Ventures decision, 320.04
variation by the court, 1130.03
K
Know your customer. See Customer due diligence
Knowing receipt and assistance, 2160.03
KYC. See Customer due diligence
L
Land in Nevis, 540.01, 2660.07, 2690.03, 2690.08
alien land holding, 2670.02
purpose trusts, 1030.08, 1090.06
qualifying trustee requirement, 610.07, 710.02
real estate holding, 2670.02
Lapse of registration, 2230.09
Layering of jurisdictions, 3070.01
Cook Islands, 3070.02, 3070.03, 3070.04, 3070.08
costs and administration, 3070.07
foundation as beneficiary, 3070.05
mobility between the three, 3070.06
Legal personality, 1230.04, 1230.06, 1230.09
beneficial ownership registers, 2860.07
body corporate, 1820.02
liability shield, 1230.03
members and managers as parties, 1230.02
operating agreements, 1230.08, B10.04
professional services, 1230.07
separate personality, 1230.01
shield before a foreign court, 1230.05
Legal Profession Act, 440.03
Liability shield, 1370.05, 1401.03, 1860.06, D30.02
1995 and 2017, 140.04
administrative powers, 1340.06
asset sales, 1340.06, 1670.08, 1670.10
Belize, 160.03
beneficiaries' information rights, 1380.01, 1380.02, 1380.03, 1380.04, 1380.05, 1380.06, 1380.07, 1380.08
charging orders, 1560.04, 340.08
Companies Act (federal), E01.04
Cook Islands, E01.04
court test and control test, 3050.03
Delaware, 1350.05, 1580.02, 1630.02
derivative actions, 1380.07
dissenters' rights, 1670.05, 1670.06, 1670.08, 1670.10
duty of care standard, 1450.02, 2830.07
effect on the company, 1620.06
emergency transfer of domicile, 1290.05
entity classification (U.S.), 1730.03, 2950.01
expulsion of members, 1630.01, 1630.02, 1630.06
foreclosure of interests, 1580.04
forms of multiform foundation, 1830.05
fraud on a power, 1380.02
information rights of members, 1380.01
judicial dissolution, 1650.01, 340.08
key definitions, 1220.04
legal personality, 1230.03
members as agents, 1350.02
mergers and consolidations, 1601.02, 1670.05, 1670.06
redemption of interests, 1630.01, 1630.06
SM Life Ventures decision, 1370.07
transfer of domicile, 1290.05, 1680.05
unfair prejudice, 1380.08
Licensing of service providers, 440.01, 440.03, 440.05, 440.08, 440.11, 490.04, 720.01, 720.02, 720.04
Advisory Committee (NIETO), 420.05, 580.07
committee's investigation, 440.02
duration, renewal and lapse, 440.10
duty of care standard, 980.04
eligibility and conditions, 720.03
Financial Services (Regulation) Ordinance, 430.08
Financial Services Regulatory Commission, 410.08, 410.09, 420.01, 420.02, 420.03, 420.04, 420.05, 420.06
foundation as trustee, 2040.03, 3040.03
foundation regulations, 1920.11
immunity of officials, 580.07
licensing and regulation, 701.04
management board, 1920.11
names of entities, 440.12
protectors, 1040.08, 720.06, 980.01, 980.02, 980.03, 980.05, 980.06, 980.07
qualifying trustee requirement, 540.04
regulated activities, 430.08
Regulation of the trustee's conduct, 720.07
trustee remuneration, 980.01, 980.02, 980.03, 980.05, 980.06, 980.07
Life insurance and trusts, 1490.07, 1530.10
charitable purposes, 1030.06
common-law action on a judgment, 2330.07
policy of the default, 1610.09
public policy, 1030.06, 1850.04, 2330.07
requests for information, 2720.04
tax information exchange, 2720.04
Limitation periods, 2170.07
accrual of cause of action, 2140.02, 2170.01, 2170.02, 3010.02
breach of trust, 770.05
charging orders, 3001.04
commencement, 2250.01
common-law foundation statutes, 1890.03
conditions on suit, 2250.01
fixed terms, 2580.04
foundation or international trust, 1890.05
fraudulent dispositions, 2030.03, E30.02
issuing without a statement of claim, 2410.03
layering of jurisdictions, 3070.02
New Jersey, 1160.05
one-year rule, 2140.01, 2140.02, 2140.03, 2140.04, 2140.05, 2140.06, 2140.07, 2140.08, 2140.09
standard of proof, E30.02
two-year limitation, 2140.01, 2140.03, 2140.04, 2140.05, 2140.06, 2140.07, 2140.08, 2140.09, 2170.01, 770.05
Limited liability companies, 330.07, 1710, 1710.01, 1710.03, 1710.05, 1720, 1730, 1740, 1750, 1760, 1770, 1780, D20.01, D20.03, D20.04
charging orders, 1710.02, 2440.05, 2950.06, 340.07
controlled foreign corporations, 2950.05
Cook Islands, 3070.03
derivative actions, 1490.03
disregarded Nevis LLC, 2950.02
entity classification (U.S.), 1730.01, 1730.02, 1730.03, 1730.04, 1730.05, 1730.06, 1730.07, 1730.08, 1730.09, 1730.10, 1730.11, 2950.01
Florida, 1580.04
foreclosure of interests, 1580.04
foreign owners of American LLCs, 2950.08
Form 8865, 2950.03
forms of multiform foundation, 1830.05
foundation holding LLC interests, 3030.01, 3030.02, 3030.03, 3030.04, 3030.05, 3030.06, 3030.07
interim relief, statutory bars, 2440.05
layering of jurisdictions, 3070.03
liability shield, 1350.02, 140.04, 1730.03, 1830.05, 2950.01
memorandum of establishment, 3030.04
Nevis LLC managed abroad, 2660.03
Nevis LLC that remains a corporation, 2950.04
Nevis tax exemption provisions, 2640.06
partnership classification, 2950.03
per se corporations, 1730.02
settlors, 2950.07
signing and acknowledgement, D20.02
SM Life Ventures decision, 1490.03
status under the Trust Ordinance, 1710.04
tax payments under section 60(18), 2950.06
trust-owned LLCs, 2950.05, 3020.01, 3020.02, 3020.03, 3020.04, 3020.05, 3020.06, 3020.07
winding up, 1730.08
LLCs. See Limited liability companies
Loans from foreign trusts, 2920.05
distributions to U.S. beneficiaries, 2930.05, 2930.07
Section 672(f), 2930.05, 2930.07
trust property, 2920.05
M
Maintenance calendars, 1990.05, 2690.07
implementation checklists, 3090.01, 3090.02, 3090.03, 3090.04
one calendar for the structure, D80.01
setting up the calendar, D80.02
Management board, 1870.02, 1920.02, 1920.03, 1920.04, 1920.07, 1920.09, 1930.06, 1930.07, 1930.10, 1990.02
alienation of interests, 1970.05
annual meeting and outside participants, 1930.08
beneficiaries' information rights, 1970.05
capacity and the constitution, 1930.02
change of stated form, C20.10
Common Reporting Standard, 2770.07
controlling persons, 2770.07
Court appointment, 1920.08
directions from the court, 1930.05
execution of documents and seals, 1930.11
forms of multiform foundation, 1910.02, 1910.04, 1910.07
foundation regulations, 1890.09, 1910.07, 1910.08, 1920.05, 1920.11, C20.02, C20.03, C20.04, C20.05, C20.06, C20.07, C20.09, C20.10, C30.12
founder's reserved rights, 1960.06
general mandate, 1930.01
memorandum of establishment, 1890.09, 1910.08, 1920.05, 1920.11, 1960.06, C20.02, C20.03, C20.04, C20.07, C20.09, C30.12
name requirements and personal liability, 1930.12
order of establishment and funding, C01.07
protection of third parties, 1930.03
protectors, 1910.04
ratification, 1930.04
registered office, 1920.10
size and voting, 1920.01
supervisory board, 1860.10, 1940.06, 1950.03, 1980.07, C20.05, C20.06
tenure and its end, 1920.06
written resolutions, 1930.09
See also Supervisory board
Management board powers, 1920.02, 1930.06
foundation regulations, C20.02, C20.03, C20.04, C20.05, C20.06, C20.07, C20.09, C20.10
memorandum of establishment, C10.03, C20.02, C20.03, C20.04, C20.07, C20.09
supervisory board, 1870.05, 1950.02, 1990.03, C20.05, C20.06
Manager-managed LLCs, 1350.07, 1420.01, 1490.08, 1710.01, B01.04, B30.23, D20.01
administrative powers, 1340.06
asset sales, 1340.06
bankruptcy of a member, 1570.02, 1570.03
member-managed LLCs, 1240.04, 1340.01, 1340.02, 1340.03, 1340.04, 1340.05, 1340.07
members of a manager-managed company, 1420.03
operating agreements, 1260.05, 1310.02, 1310.03, 1760.04, 3080.05, 3080.06, B10.02, B20.01, B20.03
single-member LLCs, 1260.05, 1570.02, 1570.03, 1620.08, 3050.05, B10.02
Managers, 1310, 1320, 1330, 1340, 1350, 1350.03, 1360, 1370, 1380, 1390, 1410.06, 1420.01, 1490.07, 1490.08, 2510.07, B40.03, B40.05
administrative powers, 1340.06
advancement of expenses, 1480.07
asset sales, 1340.06
bankruptcy of a member, 1570.03
beneficiaries' information rights, 1380.03
capital calls, 1550.01
company as claimant, 1490.01
conflicts of interest, 1470.05
corporate and trustee members, 1420.07
duty of care standard, 1450.03, 1450.06, 1450.07
exculpation clauses, 1480.07, 1480.09
exoneration clauses, 1480.09
forms of multiform foundation, 1910.02
foundation as beneficiary, 2050.05
legal personality, 1230.02
liability shield, 1380.03
management board, 1910.02
manager-managed LLCs, 1240.04, 1340.01, 1340.02, 1340.03, 1340.04, 1340.05, 1340.07, 1350.07, 1420.03, 1570.03, 1620.08
member-managed LLCs, 1240.04, 1340.01, 1340.02, 1340.03, 1340.04, 1340.05, 1340.07, 1420.02, 1620.07
no statutory solvency limit, 1370.06
operating agreements, B10.07, B10.08, B10.11
passive foreign investment companies, 2970.04
protectors, 2970.04
related-party transactions, 1470.05
settlors, 1760.05
single-member LLCs, 1620.07, 1620.08, B10.07, B10.08, B10.11
three-year charging order limit, 1540.06
written consents, 1360.04
Mareva injunctions. See Freezing orders
Matrimonial claims, 670.08, 1840.06
beneficial interests, 880.01, 880.02, 880.03, 880.04, 880.05, 880.06, 880.07, 880.08, 880.09
civil-law foundations, 2020.07
community and entireties property, 550.07
definition of trust, 530.10
firewall provisions, 880.03
fixed interest trusts, 840.07
forced heirship, 2020.01, 2020.04, 2360.01, 2360.02, 2360.03, 2360.04, 2360.05, 2360.06, 2360.07, 2360.08, 880.01, 880.02, 880.04, 880.05, 880.06, 880.07
Liechtenstein, 2020.07
personal-relationship claims, 2020.01, 2020.04, 2360.03
qualifying trustee requirement, 880.08
repatriation orders, 2520.08
spendthrift provisions, 840.04, 840.07
Texas, 2360.08
Webb decision, 880.09
See also Forced heirship
Mediation
settlement and judicial settlement conferences, 2480.04
Meetings of members, 1990.04
foundation regulations, 1910.08, C20.07
management board, 1930.07, C20.05
Member-managed LLCs, 1490.08, D20.01
administrative powers, 1340.06
asset sales, 1340.06
liability shield, 1610.02, 1660.03
manager-managed LLCs, 1240.04, 1340.01, 1340.02, 1340.03, 1340.04, 1340.05, 1340.07
members of a member-managed company, 1420.02
operating agreements, 1260.05, 1390.01
single-member LLCs, 1260.05, 1570.02, 1620.07
SM Life Ventures decision, 1340.07
Membership interests, 1590.02, 1710.05
charging orders, 1580.10, 2440.08
foundation as beneficiary, 2050.04
foundation holding LLC interests, 2050.04
holding an LLC interest, 1050.07
Minnesota, 1580.10
Memorandum of establishment, 1860.01, 1901.03, 1990.01, 1990.07, 2090.05, C01.01, C01.02, C01.06, C10, C20, D30.03, D30.04
alienation of interests, 1970.04, 1970.05, 1970.07
change of stated form, 2060.04, 2060.05, C20.10, C30.19
forfeiture, 1970.04, 1970.07, C20.08
forms of multiform foundation, 1810.04, 1830.04, 1830.07, 1910.04, 1910.06, 1910.07, 2060.04, 2060.05, C10.04
foundation as trustee, 1830.04, 1950.05, 3040.01
foundation charter, 1860.02, 1960.06, C10.01, C10.02, C10.03, C10.04, C10.05, C10.06, C10.07, C10.08
foundation classification abroad, 2080.02, 2080.03
foundation holding LLC interests, 3030.04
foundation regulations, 1830.09, 1860.04, 1890.09, 1910.06, 1910.08, 1920.05, 1920.11, 1960.03, 1960.04, 280.04, C10.06, C10.07, C20.01, C20.02, C20.03, C20.04, C20.06, C20.07, C20.08, C20.09, C20.10, C30.08, C30.12, C30.13, C30.15, C30.16, C30.19, D30.01
founder's reserved rights, 1960.03, 1960.04, 1960.06
management board, 1860.10, 1890.09, 1910.04, 1910.07, 1910.08, 1920.04, 1920.05, 1920.11, 1930.03, 1930.09, 1940.06, C20.02, C20.03, C20.04, C20.05, C20.07, C20.09, C30.12
mergers and consolidations, 2070.04, 2070.10
proper-law provisions, 280.04, 280.05
supervisory board, 1860.10, 1940.06, 1950.05, 1990.03, C20.05, C20.06, C30.13
Mergers and consolidations, 1690.06
annual compliance filings, 1880.05
asset sales, 1670.01, 1670.02, 1670.03, 1670.04, 1670.05, 1670.06, 1670.08, 1670.09, 1670.10, 1670.11, 1670.12, 1670.13
Delaware, 1670.07
dissenters' rights, 1670.01, 1670.02, 1670.03, 1670.04, 1670.05, 1670.06, 1670.07, 1670.08, 1670.09, 1670.10, 1670.11, 1670.12, 1670.13, B30.21
judicial dissolution, B30.21
liability shield, 1601.02
migration, conversion and merger, D70.03
operating agreements, B20.10
transfer of domicile, 2070.01, 2070.02, 2070.03, 2070.04, 2070.05, 2070.06, 2070.07, 2070.08, 2070.09, 2070.10
winding up, B20.10
MFO. See Multiform foundations
Migration from Nevis, 1170.04
duress clauses, 1170.05
Florida, 1170.08
leaving the register, 1170.03
power and the protection, 1170.02
reasons for leaving, 1170.01
United States tax and automatic migration, 1170.07
Migration of trusts, 2920.09, A10.14
annual compliance filings, 1880.01, 1880.02, 1880.03, 1880.04, 1880.05, 1880.06, 1880.07, 1880.08, 1880.09, 1880.10, 1880.11, 1880.12, 1880.13
decanting, 3060.02
duress clauses, 2540.06
foundation registration, 1880.12
grantor trusts, 2920.09
LLC on migration, 3060.08
mergers and consolidations, 1880.05, D70.03
migration after a claim, 3060.05
migration from Nevis, 1170.07
one-year rule, 2140.09
transfer of domicile, 1680.12, 1880.02, 1880.03
two-year limitation, 2140.09
See also Change of governing law
Mixed purpose and person trusts
Belize, 1080.03
British Virgin Islands, 1080.05
denley trusts under the Ordinance, 1020.05
Jersey, 1080.03
limits of Denley, 1020.03
mixed trusts, 1080.01
multiform foundation, 1080.06
powers to apply for purposes, 1080.02
purpose trusts, 1020.02, 1020.04, 1030.08, 1080.07
trust deeds, 1020.02
Model 1B IGA
Common Reporting Standard, 1780.01, 2740.04, 2760.08
duty of care standard, 2740.05
FATCA, 1780.01, 2740.01, 2740.02, 2740.03, 2740.04, 2740.05, 2740.06, 2740.07
settlors, 2740.07
Multiform as partnership, C01.05
memorandum of establishment, 1810.04, C20.02
partnership form, 1830.06
Multiform foundations, 140.05, 160.05, 340.09, 1080.07, 1820.04, 1820.06, 1840.08, 1890.03, 1890.05, 1890.08, 1940.04, 2010.01, 2030.06, 2050.04, 2240.07, 2640.04, 2860.05, A20.03, B30.03, C01.05
alienation of interests, 1970.03, 1970.05, 1970.08
annual compliance filings, 1880.02, 1880.05, 1880.06, 1880.10, 470.07, D40.02
business entity versus trust, 1890.06, 2960.01, 2960.02, 2960.03, 2960.04, 2960.06
change of stated form, 2060.06, 2060.08, C20.10
charging orders, 2240.03, 2240.06, 2350.02, 2350.04, 2440.08
civil-law foundations, 1890.02, 1890.06, 2020.07
Common Reporting Standard, 2750.09, 2770.01, 2770.02, 2770.03, 2770.04, 2770.05, 2770.06, 2770.07
controlling persons, 2750.09, 2770.01, 2770.02, 2770.03, 2770.04, 2770.05, 2770.06, 2770.07
FATCA, 2750.01, 2750.02, 2750.03, 2750.04, 2750.05, 2750.07, 2750.08
firewall provisions, 2350.01, 2350.02, 2350.03, 2350.04, 2350.05, 2350.06, 2350.07, 2350.08, 2350.09, 2350.10, 2350.11
forms of multiform foundation, 1810.04, 1830.05, 1830.07, 1890.07, 1910.04, 2060.06, 2060.08, C10.04
foundation as beneficiary, 1870.07, 2050.01, 2050.02, 2050.03, 2050.05, 2050.06, 2050.07, 3040.08, 3070.05, C30.10
foundation as trustee, 1820.05, 1950.05, 2040.01, 2040.02, 2040.03, 2040.05, 2040.07, 2040.08, 3040.01, 3040.02, 3040.03, 3040.05, 3040.06, 3040.07, 3040.08, 3040.09
foundation classification abroad, 2080.03, 2080.06, 2960.01, 2960.02, 2960.03, 2960.04, 2960.05, 2960.06
foundation holding LLC interests, 2050.04, 3030.01, 3030.02, 3030.03, 3030.04, 3030.05, 3030.06, 3030.07
foundation regulations, 1860.04, C20.02, C20.04, C20.07, C20.10, D30.01
interim relief, statutory bars, 2440.07, 2440.08
joint ventures and funds, 1770.01, 1770.02, 1770.03, 1770.04, 1770.05, 1770.06
management board, 1910.04, 1920.09, 1940.06, 1980.07, C01.07
memorandum of establishment, 1810.04, 1860.04, 1960.06, 280.04, 3030.04, C20.02, C20.04, C20.07, D30.01
mergers and consolidations, 1880.05, 2070.08, 2070.10
mixed purpose and person trusts, 1080.06, 1080.07
non-resident requirement, 2050.02, 2050.03, 810.08
operating agreements, 3080.01, 3080.02, 3080.03, 3080.04, 3080.05, 3080.06, 3080.07, 3080.08, 3080.09
private trust companies, 2040.04, 3040.04
protectors, 2040.06, 2040.07, 3040.06
succession vehicles, 2010.01, 2010.02, 2010.03, 2010.04, 2010.05, 2010.06, 2010.07, 2010.08
supervisory board, 1940.06, 1950.05, 1950.09, 1980.07, 2040.06
transfer of domicile, 1880.02, 2070.08, 2070.10
trust companies, 2040.04, 3040.04
trust deeds, 3080.01, 3080.02, 3080.03, 3080.04, 3080.05, 3080.06, 3080.07, 3080.08, 3080.09
See also Management board; Stated form
N
Names of entities, 570.05, D10.04, D20.04, D30.04
registered office, 1250.03
restricted words, 440.12
service out of the jurisdiction, 1250.03
Nevis Branch. See Financial Services Regulatory Commission
Nevis Business Corporation Ordinance, 140.02, 401.02, 460.01, 1410.05, 2610.06
annual compliance filings, 470.01, 470.06
duty of care standard, 1410.01, 1450.02, 2830.08, 2830.11
fees condition, 460.05
Nevis business corporation, 2660.04
Nevis tax exemption provisions, 2640.06, 2640.07
nominees and bearer shares, 2830.08
resignation by the agent, 460.04
Nevis Circuit. See High Court (Nevis Circuit)
Nevis International Exempt Trust Ordinance. See International exempt trusts
Nevis Island Administration, 320.08
constitution of Saint Christopher and Nevis, 110.04, 120.02
Financial Services Regulatory Commission, 410.02, 420.04
Nevis Island Legislature, 120.02
Nevis Island Assembly, 510.01
assent to Ordinances, 130.01, 130.02, 130.05
constitution of Saint Christopher and Nevis, 110.04, 120.01, 120.06, 120.08
Nevis Island Legislature, 210.01, 510.01, 1810.01
constitution of Saint Christopher and Nevis, 110.04, 120.01, 120.02, 120.03, 120.04, 120.05, 120.06, 120.07, 120.08, 120.09
entrenched provisions, 120.06
Nevis Island Administration, 120.02
Nevis LLC Ordinance. See Limited liability companies
Nevis tax exemption provisions, 210.03, 501.03, 1720.02, 2640.01, 2640.03, 2640.05, 2690.01
charging orders, 160.04, E40.02
competence question, 2640.08
Cook Islands, E20.02, E40.02, E60.01
corporation and LLC ordinances, 2640.06
Foundations Ordinance, 2640.04
spent but still printed, 2640.07
tax exemption, 550.02
Trust Ordinance, 2640.02
New York
charging orders, 1510.08
investment accounts, 1510.08
protectors, 920.07
protector's powers, 920.07
NIETO. See International exempt trusts
Non-resident requirement, 540.01, 540.10, 710.04, 2690.08
charitable purposes, 1030.08
citizenship by investment, 2680.02, 2680.03, 2680.04, 2680.05
foundation as beneficiary, 2050.02, 2050.03, 3040.08
foundation gap, 810.08
purpose trusts, 1030.08, 1050.08, 1090.06
qualifying trustee requirement, 1160.02, 610.07
reading the residence test, 540.06
settlors, 1050.08, 610.04, 610.07, 620.05, A10.05
taxable presence of a non-resident, 1720.06, 2630.07
withholding on payments to non-residents, 2620.08
Norwich Pharmacal orders
Bankers Trust orders, 2460.01, 2460.04, 2460.05, 2460.07, 2460.08, 2460.09, 2460.10
Confidential Relationships Act, 2460.06
CPR Part 28, 2460.01, 2460.02, 2460.03, 2460.04, 2460.05, 2460.06, 2460.07, 2460.08, 2460.09, 2460.10
Notification of the person concerned, 2701.03
challenging a request, 2730.05
confidentiality of the request, 2730.04
EU and OECD listing, 2730.06
Global Forum peer reviews, 2730.06
notification rule, 2730.01
United Kingdom, 2730.07
waiver of notice in practice, 2730.03
written submissions only, 2730.02
O
Offences and penalties
requests for information, 2720.06, 2720.08
suspicious transaction reports, 2870.02, 2870.03, 2870.08
Official Gazette
authoritative texts, 250.01, 250.02, 250.03, 250.04, 250.05, 250.06, 250.07
Financial Services Regulatory Commission, 250.06
law revision, 250.03
Onboarding, 2701.03, 2801.04, 2890.01, 2890.02, 2890.06, 2890.07, 2890.08, 2890.09, D01.02, D50.01, D50.02, D50.03
pre-existing claims, 2890.05
purpose and the structure chart, 2890.03
One-year rule, 140.03, 2170.07, 2620.01, C30.09
accrual of cause of action, 2140.01, 2140.02, 2140.03, 2140.04, 2140.05, 2140.06, 2140.07, 2140.08, 2140.09, 2170.01, 2170.02
fraudulent dispositions, 160.03, 2180.05, E30.02
settlors, 2120.10, 2180.05, 2190.08
two-year limitation, 2140.01, 2140.02, 2140.03, 2140.04, 2140.05, 2140.06, 2140.07, 2140.08, 2140.09, 2170.01
Operating agreements, 1220.05, 1310, 1310.01, 1310.04, 1310.06, 1320, 1330, 1340, 1360, 1370, 1390, 1460.01, 1460.02, 1460.06, 1460.07, 1610.08, 1620.02, 360.11, B01.03, B20.04, B20.05, B20.07, B20.08, B20.11, B20.12
administrative powers, 1340.06
agreement and the articles, 1310.02
asset sales, 1340.06, B10.07, B20.06
at formation, 1240.11
bankruptcy of a member, B20.09
charging orders, B10.10, B20.02
company as party, 1310.08
consequences of the hierarchy, 1310.03
drafting the operating agreement, 1390.01, 1390.02, 1390.03, 1390.04, 1390.05, 1390.06
duty of care standard, 1460.03
duty of loyalty, 1460.04
exculpation clauses, 1460.08
exoneration clauses, 1460.08
expulsion of members, 1630.03
judicial dissolution, 1650.04
limits of advance consent, 1460.05
pledges and security interests, 1610.10
redemption of interests, 1630.03
single-member LLCs, 1260.02, 1260.05, B10.01, B10.02, B10.03, B10.04, B10.05, B10.06, B10.07, B10.08, B10.09, B10.10, B10.11, B10.12, B10.13, B10.14, B10.15, B10.16
SM Life Ventures decision, 1220.06, 1310.07, 1360.08, 1650.04, 260.05
title and parties, B20.03
transfer restrictions, B20.10
trust deeds, 3080.01, 3080.02, 3080.03, 3080.04, 3080.05, 3080.06, 3080.07, 3080.08, 3080.09
use of the form, B20.01
written consents, 1360.08
written instrument requirement, 1310.05
P
Partnership classification, 1690.08, 1750.01, 1750.05, 1790.02
charging orders, 1560.07, 1560.12, B20.02, E40.02
Form 8865, 2950.03
Passive foreign investment companies, 1750.01, 1750.03
entity classification (U.S.), 1730.08, 1740.01
FBAR, 2970.01, 2970.02, 2970.03, 2970.04, 2970.05, 2970.06, 2970.07, 2970.08, 2970.09, 2990.07
protectors, 2970.04
reportable accounts, 2970.03
Passive NFFEs and NFEs, 1701.04
Common Reporting Standard, 1780.01, 1780.03, 1780.07, 2750.09, 2760.05, 2760.09, 2770.01, 2770.03, 2770.04, 2770.06, 2770.07
controlling persons, 2750.09, 2770.01, 2770.03, 2770.04, 2770.06, 2770.07
PEPs. See Politically exposed persons
Perpetuities, 201.02, 810.03, 1180.01, 2790.06
accumulation of income, 2120.01, 550.04, 690.01, 690.02, 690.03, 690.04, 690.05, 690.06, 690.07, 860.01, 860.02, 860.03, 860.04
protectors, 1110.03, A10.02, E20.02
purpose trusts, 1010.04, 1010.06
Rule against perpetuities, 1140.03, 690.01
saunders v. Vautier rule, 860.01, 860.02, 860.03, 860.04, 860.05
Section 672(f), 2930.03, 2930.04
settlors, 1110.03, 2120.01, 2160.06, 530.04, 620.03, 620.07, 690.04, 690.06, 690.07, 860.05, A10.02
throwback rules, 2930.04
Personal-relationship claims, 1840.06
alienation of interests, 2020.08
civil-law foundations, 2020.07
firewall provisions, 2340.10, 2350.10, 2390.02, 2390.04, A20.17
forced heirship, 2020.01, 2020.02, 2020.03, 2020.04, 2020.05, 2020.06, 2340.10, 2360.02, 2360.03, 2360.08, 670.06, 880.02, A20.17
forfeiture, 2020.08
Liechtenstein, 2020.07
Politically exposed persons
citizenship by investment, 2840.10
duty of care standard, 2840.01, 2840.02, 2840.03, 2840.04, 2840.05, 2840.06, 2840.07, 2840.08, 2840.09
source of wealth, 2840.01, 2840.02, 2840.03, 2840.04, 2840.05, 2840.06, 2840.07, 2840.08, 2840.09, 2840.10
Power of addition and exclusion
accumulation of income, 690.06, 860.02
disclaimer, 870.01, 870.02, 870.03
foundation as beneficiary, 2050.03, 3040.08
foundation regulations, 1960.03, C20.02, C20.04, C20.08
memorandum of establishment, 1960.03, C20.02, C20.04, C20.08
non-resident requirement, 2050.03, 610.04
protectors, 1110.03, 650.09, 960.05, A10.02
settlors, 1110.03, 610.04, 610.07, 870.02, 890.06, 960.05, 970.07, A10.02, A10.05, A10.08, A10.12, A30.03
Powers of appointment, 3060.03
court's general powers over a trust, 340.03
creditors of beneficiaries, 830.09
discretionary trusts, 830.09
Pre-action disclosure, 2401.02
Precedent
Corona Trust decision, 270.07
Court of Appeal, 270.03
English authority, 270.05
High Court, 270.04
offshore and United States authority, 270.06
Privy Council, 270.02
protectors, 270.07
structure of the courts, 270.01
Pre-existing claims
fraudulent dispositions, 2120.04, 530.07
intent to defraud, 2120.04, 530.07
Premier of Nevis, 2810.02
Private trust companies, 710.04, 720.04
foundation as trustee, 2040.04, 3040.01, 3040.04, 3040.07
Privy Council, 270.02, 380, 380.02, 380.04
1967 appeals order, 380.03
final Court of Appeal, 380.01
no authority on the ordinances, 380.06
value threshold in practice, 380.05
Proceeds of Crime Act, 2810.02, 2820.01, 2820.08
Anti-Money Laundering Regulations, 2880.01
Financial Services Regulatory Commission, 2810.05, 410.04, 410.09
suspicious transaction reports, 2870.01, 2870.02, 2870.03, 2870.05, 2870.07, 2870.08, 2870.09
tipping off, 2870.01, 2870.02, 2870.03, 2870.04, 2870.05, 2870.07, 2870.08, 2870.09
Proper law. See Governing law
Proper-law provisions, 280.01, 280.03, 340.02, 660.01
change of governing law, 660.07, 740.07
foundation regulations, 280.04
limits of unilateral rules, 280.05
memorandum of establishment, 280.04
proper law of an international trust, 280.02
Protector as fiduciary, 930, 930.01, 930.03, 930.05, 930.06, C01.09
foundation regulations, C20.03, C20.06
protectors, 1040.01, 680.08, 901.02, 910.07, 930.02, 930.04, 930.07, 930.08, 940.03, 960.05, 980.03, 990.05
Protectors, 1040.01, 1040.06, 1040.07, 1040.08, 2510.03, 2820.05, 350.04, 520.07, 720.06, 901.04, 910, 910.04, 920, 930, 940, 950, 960, 970, 970.01, 980, 990, A10.11, A20.12, A30.05
charitable purposes, 1030.01, 1030.07, 1030.09, 1090.06
consent powers, 920.05, 940.01, 940.02, 940.03, 940.04, 940.05, 940.07
Cook Islands, E20.02
Corona Trust decision, 1130.07, 270.07, 730.09, 950.05
court test and control test, 2910.05
definition of trust, 530.06
duress clauses, 1190.04, 2540.03, 2540.04, 2540.07, 970.02, 970.05, A10.13
duress events, 1190.04, A10.13
exoneration clauses, 760.05, 980.04
FBAR, 2970.04
federal Trade Commission v. Affordable Media, 2530.06, 960.04
Financial Services (Regulation) Ordinance, 430.06, 430.08
foreign trusts (U.S. tax), 2910.05
foundation as trustee, 1950.05, 2040.06, 2040.07, 3040.06
New Jersey, 970.06
passive foreign investment companies, 2970.04
protector as fiduciary, 930.02, 930.04, 930.07, 930.08
protector's powers, 1040.02, 1120.05, 730.02, 920.01, 920.02, 920.03, 920.04, 920.05, 920.06, 920.07, 920.08
purpose trusts, 1010.07, 1030.01, 1030.07, 1030.09, 1090.02, 1090.06, 2040.07, 650.09, 910.05
regulated activities, 430.06, 430.08
removal of protectors, 950.01, 950.02, 950.03, 950.04, 950.05, 950.06, 950.07
reserved powers, 960.01, 960.02, 960.03, 960.04, 960.06, 960.07
settlor as protector, 960.05
settlors, 1110.03, 2590.04, 2830.05, 3010.05, 680.09, 710.07, 910.01, 910.07, 930.07, 930.08, 960.01, 960.02, 960.03, 960.05, 960.06, 960.07, 970.06, 970.07, 990.04, A10.01, A10.02, A10.15
supervisory board, 1950.05, 2040.06
trustee remuneration, 980.01, 980.02, 980.03, 980.05, 980.06, 980.07
trustees' powers, 740.03
See also Reserved powers
Protector's powers, 920
consent powers, 920.05, 940.05
delegation by trustees, 920.07
protector as fiduciary, 930.03, 930.04
protectors, 1040.02, 1110.03, 1120.05, 2510.03, 350.07, 680.08, 730.02, 920.01, 920.02, 920.03, 920.04, 920.05, 920.06, 920.07, 920.08, 930.04, 940.05, 960.04, 970.03
Public file, 1270.01, 1270.06, 1270.07, 1270.09, 1980.05, 2001.03, 2090.05
beneficiaries' information rights, 1270.08
books and records, 1270.02
charging orders, 1530.09, 3001.04
documents to be kept (2023), 1270.03
failure to keep records, 1270.10
foundation classification abroad, 2080.01, 2080.02
liability shield, 1270.04
operating agreements, 1230.08, 1310.03, 3080.08
reading section 67A, 1270.05
Public policy, 660.08
charitable purposes, 1030.01, 1030.06, 1030.09
charitable trusts, 1070.03, 520.03
Civil Procedure Rules 2023, 2320.03, 2320.05
common-law action on a judgment, 2330.07
life insurance and trusts, 1030.06, 1850.04, 2330.07
mixed purpose and person trusts, 1080.04, 1080.07
purpose trusts, 1030.01, 1030.09, 1080.07
Reciprocal Enforcement of Judgments Act, 2320.03, 2320.05
requests for information, 2720.04
tax information exchange, 2720.04
Purpose trusts, 1001.03, 1010, 1010.01, 1020, 1030, 1040, 1050, 1050.05, 1070, 1080, 1090
amendment clause, 1090.04
anomalous exceptions, 1010.05
charitable purposes, 1030.01, 1030.02, 1030.03, 1030.04, 1030.05, 1030.07, 1030.08, 1030.09, 1070.07, 1090.06
charitable trusts, 1090.05
cy-près doctrine, 1070.07
default clause, 1090.03
enforcers, 1080.07
foundation as trustee, 2040.07
life insurance and trusts, 1030.06
mixed purpose and person trusts, 1020.02, 1020.04, 1080.07
Morice v. Bishop of Durham, 1010.03
non-resident requirement, 1030.08
perpetuities, 1010.04, 1010.06
principle stated, 1010.02
protectors, 1010.07, 1030.01, 1030.07, 1030.09, 1090.02, 1090.06, 2040.07, 650.09, 910.05
public policy, 1030.06
settlors, 1050.08
Q
Qualifying trustee requirement, 540.01, 540.10, 590.03, 710.03, 720.01, 720.04, 730.06, 2420.01, 3060.03
beneficial interests, 880.08
Florida, 2510.04
forced heirship, 880.08
foreign trusts (U.S. tax), 1160.02, 2910.04
foundation as trustee, 2040.02, 3040.02
qualifying trustee, 540.03, 610.03
qualifying-trustee requirement, 710.02
settlors, 1170.08, 2370.06, 2540.02, 2590.08, 610.07, 810.06
suspicious transaction reports, 2870.11
tipping off, 2870.11
trustee and the licensing law, 540.04
trustee remuneration, 790.02, 790.06
trustee's response to foreign orders, 2590.08
R
Ratification, 490.04, 1350.09, 1490.07, 1490.08
conflicts of interest, 1470.05, 1470.06
derivative actions, 1380.07, 1490.03
management board, 1930.04, 1930.06, 1940.06
operating agreements, 1460.08, B20.07
Real estate holding, 2690.03, 2690.08
alien land holding, 2670.02, 2980.09
joint ventures and funds, 1770.02, 1770.06
land in Nevis, 2670.02
Receivers, 2470.03, 2470.04, 2470.07, 370.05
applications by trustees, 2470.06
arbitral awards, 2370.01, 2370.02, 2370.03, 2370.04, 2370.05, 2370.07, 2370.09
charging orders, 2470.02
enforcement parts, 2470.01
firewall provisions, 2370.08
recognition of foreign insolvency, 2370.01, 2370.02, 2370.03, 2370.04, 2370.05, 2370.06, 2370.07, 2370.08, 2370.09
winding up, 2470.05
Reciprocal Enforcement of Judgments Act
arbitral awards, 2310.06, 2370.07
Civil Procedure Rules 2023, 2320.01, 2320.02, 2320.03, 2320.04, 2320.05, 2320.06, 2320.07, 2320.08, 2320.09
firewall provisions, 2310.01, 2310.06, 2390.03
trust property, 2320.09
United Kingdom, 2320.02
Recognition of foreign insolvency
arbitral awards, 2370.01, 2370.02, 2370.03, 2370.04, 2370.05, 2370.06, 2370.07, 2370.08, 2370.09
common-law action on a judgment, 2330.04, 2330.09
Record keeping, 670.08, 2801.03
introducers and reliance, 2850.01, 2850.02, 2850.03, 2850.04, 2850.05, 2850.06, 2850.07, 2850.08, 2850.09
Redemption of interests, 1530.07, 1601.06
charging orders, B01.07, B10.10, B20.02, B30.16
classes, series and redemption, 1610.11
deadlock, 1630.07
Delaware, 1630.02
drafting the operating agreement, 1390.04, 1390.06
expulsion of members, 1630.01, 1630.02, 1630.03, 1630.04, 1630.06, 1630.07, 1630.08, 1630.09
forfeiture, 1630.05
liability shield, 1630.01, 1630.06
operating agreements, 1390.04, 1390.06, 1630.03, 1650.04, B20.02, B20.08
protective trusts, 1630.05
Redomiciliation. See Transfer of domicile
Registered agents, 460.01, 460.03, 1870.04
change of agent by the entity, 460.06
duty to maintain an agent, 460.02
management board, 1920.10
names of entities, 1250.03
Nevis Business Corporation Ordinance, 460.04, 460.05
records held at the agent's office, 460.07
registered office, 1250.01, 1250.02, 1250.04, 1250.05, 1250.06, 1250.07, 1250.08, 1250.09, 1250.10, 1250.11, 1920.10, 460.08
service out of the jurisdiction, 1250.01, 1250.02, 1250.03, 1250.04, 1250.05, 1250.06, 1250.07, 1250.08, 1250.09, 1250.10, 1250.11
Registered office, 440.05, 460.08, 560.04
annual compliance filings, 470.03, D40.03
Financial Services (Regulation) Ordinance, 430.03, 430.08
liability shield, 1250.10
management board, 1920.10
memorandum of establishment, 1890.09, C10.01
names of entities, 1250.03
private or unpaid trustee, 2820.04
qualifying trustee requirement, 1160.02, 2420.01, 710.03
regulated activities, 430.03, 430.08
service out of the jurisdiction, 1250.01, 1250.02, 1250.03, 1250.04, 1250.05, 1250.06, 1250.07, 1250.08, 1250.09, 1250.10, 1250.11
Registrar, 101.03, 150.04, 560.01, 730.08, 1180.07, 1830.10
annual compliance filings, 1880.08
change of stated form, 2060.04
Financial Services Regulatory Commission, 420.03
forms of multiform foundation, 2060.04
registry in numbers, 140.07
Registrars (Nevis), 150.04, 1240.05
Financial Services Regulatory Commission, 420.03, 420.04
liability shield, 1270.04, 1660.05
operating agreements, 1310.02, B10.02, B10.12
public file, 1270.01, 1270.04, 1270.06
Regulated activities, 401.02, 440.01, 450.11, 720.02, 2820.01
commencement, 430.01
Financial Services (Regulation) Ordinance, 430.01, 430.02, 430.03, 430.04, 430.05, 430.06, 430.07, 430.08
Financial Services Regulatory Commission, 410.09, 410.11, 420.04
Regulatory appeals, 450.06, 450.10
Financial Services Regulatory Commission, 410.07, 410.12, 410.13, 420.06
Regulatory confidentiality, 330.07, 340.02, 390.06, 660.01, 2490.02
gateways most used in Nevis litigation, 2420.03
service outside the jurisdiction, 330.06
Removal from the register
liability shield, 1280.05
restoration, 1280.01, 1280.02, 1280.03, 1280.04, 1280.05, 1280.06, 1280.07, 1280.08, 1640.06
Removal of protectors
Corona Trust decision, 950.05
Florida, 950.06
protectors, 350.07, 920.03, 920.05, 930.04, 950.01, 950.02, 950.03, 950.04, 950.05, 950.06, 950.07, 960.07, 980.06, 990.03, A10.11
Removal of trustees
court test and control test, 2910.05, 2910.06
duress clauses, 2540.03, 2540.07
foreign trusts (U.S. tax), 1160.02, 2910.06
protectors, 2510.03, 2540.03, 2540.07, 2910.05, 730.09, 910.03, 920.07, 930.07, 930.08, 950.06, 960.06, 970.03, 990.01
Repatriation orders, 2520.03, 2520.07
civil contempt, 2530.02
family courts, 2520.08
forfeiture, 2520.05
government enforcement, 2520.04
impossibility defense, 2530.02
judgment enforcement, 2520.02
repatriation and the automatic stay, 2520.06
settlors, 2520.09
sources of authority, 2520.01
Repeal and savings, 290.06
1995 LLC Ordinance, 1210.03, 1210.07
2017 LLC Ordinance, 1210.03, 1210.07
constitution of Saint Christopher and Nevis, 120.07, 120.08
existing laws, 220.01, 220.03, 220.06, 220.07
interpretation of statutes, 230.06
Reportable accounts, 2701.03, 2701.06
Common Reporting Standard, 1780.01, 1780.03, 1780.05, 2710.04, 2760.02, 2760.03, 2760.05, 2760.06, 2760.08, 2770.01, 2770.02, 2770.04
controlling persons, 2770.01, 2770.02, 2770.04
FATCA, 1780.01, 1780.03, 1780.05, 2740.02, 2740.03, 2740.06, 2750.04, 2750.05
model 1B IGA, 2740.02, 2740.03, 2740.05, 2740.06
passive foreign investment companies, 2970.01, 2970.03, 2970.04
Requests for information, 2701.03, 2710.03, E70.01
Confidential Relationships Act, 2720.07, 2780.02
fishing expeditions, 2720.02
Global Forum peer reviews, 2720.05
notification of the person concerned, 2730.02, 2730.03, 2730.07
public policy, 2720.04
tax information exchange, 2720.01, 2720.02, 2720.03, 2720.04, 2720.05, 2720.06, 2720.07, 2720.08, 2720.09
trust companies, 2720.08
federal Trade Commission v. Affordable Media, 960.04
protectors, 680.08, 960.01, 960.02, 960.03, 960.04, 960.05, 960.06, 960.07
Section 548(e), 2560.03
self-settled trusts, 680.01, 680.02, 680.03, 680.04, 680.05, 680.06
settlors, 550.05, 680.07, 680.09, 960.01, 960.02, 960.03, 960.05, 960.06, 960.07
sham trusts, 680.01, 680.02, 680.03, 680.04, 680.05, 680.06, 680.07, 680.08, 680.09
spendthrift exclusion (§ 541(c)(2)), 2560.03
See also Self-settled trusts
Resettlement. See Decanting
Residence for tax purposes, 540.05, 540.07, 710.04, 810.05, 1720.05, 2630.01, 2630.08, 2690.02
annual compliance filings, 1880.10
change of residence, 2790.05
charitable purposes, 1030.08
citizenship by investment, 2680.01, 2680.02, 2680.03, 2680.04, 2680.05
clauses 1 and 4, A20.02
court test and control test, 2910.06
foreign trusts (U.S. tax), 2910.06
foundation as beneficiary, 2050.02
management and residence, 1590.06, 1790.04
non-residence condition, 810.04
non-resident requirement, 1720.06, 2050.02, 2620.08, 2630.07, 2680.02, 2680.05, 540.06, 610.04
practical consequences, 1720.08
present rule, 1720.04
purpose trusts, 1030.08
residence and domicile, 1820.03
settlors, 610.04
tax resident foundation, 2660.06
trusts and foundations, 2630.09
Restoration
annual compliance filings, D40.01, D40.02, D40.03, D40.04
consequence of lapse, 570.04
effect of the 2022 changes, 1640.07
liability shield, 1280.05
removal from the register, 1280.01, 1280.02, 1280.03, 1280.04, 1280.05, 1280.06, 1280.07, 1280.08, 1640.06
Revised editions, 510.06, 1810.03
assent to Ordinances, 130.01, 130.02, 130.03, 130.04, 130.05, 130.06, 130.07, 130.08
authoritative texts, 250.01, 250.02, 250.03, 250.04, 250.05, 250.06, 250.07
federal legislation, 130.07
Financial Services Regulatory Commission, 250.06
law revision, 250.03
Revocable trusts
foundation classification abroad, 2080.03, 2080.04, 2080.06
foundation regulations, 1960.03, C20.03
founder's reserved rights, 1960.05, 1960.06
memorandum of establishment, 1960.03, 1960.06, C10.05, C20.03
reserved powers, 550.05, 960.02, 960.03
self-settled trusts, 620.07, 680.01
settlor reserved powers, 1840.04, 830.10, C30.05
settlors, 1120.03, 1180.05, 2120.08, 2580.02, 2590.04, 550.05, 620.07, 680.07, 680.09, 830.10, 960.03, A10.12, A20.13
Rule against perpetuities, 201.02, 810.03, 1180.01
accumulation of income, 550.04, 690.01, 690.02, 690.06, 860.03
perpetuities, 1010.04, 1010.06, 550.04, 690.01, 690.02, 690.06, 860.03
S
Saunders v. Vautier rule
accumulation of income, 690.03, 860.01, 860.02, 860.03, 860.04, 860.05
Section 548(e)
Alaska, 2560.08
arbitral awards, 2370.01, 2370.09
recognition of foreign insolvency, 2370.01, 2370.09
reserved powers, 2560.03
settlors, 1160.06, 2180.05, 2190.08, 2340.09, 2590.02
spendthrift exclusion (§ 541(c)(2)), 2560.01, 2560.02, 2560.03, 2560.04, 2560.05, 2560.06, 2560.07, 2560.08
spendthrift provisions, 2560.04, 2560.05
trustee's response to foreign orders, 2190.08, 2590.02, 2590.09
Section 6048
distributions to U.S. beneficiaries, 2930.03, 2930.08
forms 3520 and 3520-A, 1750.06, 2940.01, 2940.02, 2940.03, 2940.04, 2940.05, 2940.10, 2940.11, 2990.01
Section 6677 penalties, 2940.01, 2940.02, 2940.03, 2940.04, 2940.05, 2940.10, 2940.11
Section 672(f), 2930.03, 2930.08
streamlined procedures and remediation, 2990.01, 2990.02, 2990.09
Section 6677 penalties, 2940.01, 2940.11
business entity versus trust, 1890.06, 2960.02
forms 3520 and 3520-A, 2940.01, 2940.02, 2940.03, 2940.04, 2940.05, 2940.06, 2940.07, 2940.08, 2940.09, 2940.10, 2940.11, 2990.01
foundation classification abroad, 2960.02, 2960.05
settlors, 2940.09
Section 672(f)
distributions to U.S. beneficiaries, 2930.01, 2930.03, 2930.04, 2930.05, 2930.06, 2930.07, 2930.08
foreign grantor trusts, 2930.02
grantor trusts, 2930.02
settlors, 2930.06
throwback rules, 2930.01, 2930.03, 2930.04, 2930.05, 2930.07, 2930.08
Section 684, 2920.02, 2920.03, 2920.04
foreign trusts (U.S. tax), 2920.03, 2920.06, 3060.09
grantor trusts, 2920.01, 2920.04, 2920.06, 2920.07, 2920.08, 2920.09
loans from foreign trusts, 2920.05
self-settled trusts, 2920.02
settlors, 2920.01, 2920.07, 2920.08, 2920.09, 2930.06
trust property, 2920.05
Security for costs, 2260.02, 2480.03
costs, 2260.05, 2260.06, 2260.07
enforcing security, 2260.04
powers of appointment, 2260.01, 2260.03
trust property, 2260.08
Self-certification, 1790.09, 2490.03, 2790.06, 2790.08
Common Reporting Standard, 1780.04, 2750.09, 2760.05, 2760.06, 2760.07, 2760.09, 2770.07
Self-settled trusts, 2920.02
grantor trusts, 2920.02
protective trusts, 840.06
protectors, 680.08
reserved powers, 680.01, 680.02, 680.03, 680.04, 680.05, 680.06
settlor as beneficiary, 620.07, 970.07, A20.06
settlors, 620.07, 680.07, 680.09, 970.07, A20.06
sham trusts, 680.01, 680.02, 680.03, 680.04, 680.05, 680.06, 680.07, 680.08, 680.09
spendthrift provisions, 840.06
See also Sham trusts
Series LLCs, 1301.05
admission of members, 1330.01, 1330.02, 1330.03, 1330.04, 1330.05, 1330.06, 1330.07, 1330.08, 1330.09
joint ventures and funds, 1770.04, 1770.06
rights of first refusal, 1330.09
Service out of the jurisdiction, 340.02, 460.03, 2420.02
Chabra jurisdiction, 2450.03, 2450.05
liability shield, 1250.10, 1601.02
names of entities, 1250.03
registered office, 1250.01, 1250.02, 1250.03, 1250.04, 1250.05, 1250.06, 1250.07, 1250.08, 1250.09, 1250.10, 1250.11, 460.08
Settlor as beneficiary, 2470.07
creditors of beneficiaries, 830.03, 830.08
expatriation, 2980.03, 2980.06, 2980.10
self-settled trusts, 620.07, 970.07, A20.06
settlors, 2980.03, 2980.06, 620.07, 680.09, 830.03, 970.07, A20.06
Settlor as trustee
settlors, 620.06
Settlor reserved powers
Article 8 and irrevocability, C30.05
effect of subscription, 1840.04
foundation charter, 1860.02, C10.01, C10.05
foundation classification abroad, 2080.03, 2080.04, 2080.06
foundation regulations, 1960.03, C20.10
memorandum of establishment, 1860.02, 1960.03, 1960.06, C10.01, C10.05
revocable trusts, 830.10
Settlors, 1070.02, 1180.05, 1760.05, 2120.05, 2190.07, 2370.06, 2510.02, 2920.01, 2920.07, 2920.08, 2920.09, 2950.07, 3010.06, 620.03, 630.06, 780.05, 810.06, 850.01, 910, 930, 940, 950, 960, A20.13
accumulation of income, 2120.01, 690.04, 690.06, 690.07, 860.01, 860.05
charitable trusts, 1070.02
creditors of beneficiaries, 830.03, 830.08
definition of trust, 530.04, 530.06
discretionary trusts, 820.07, 830.03, 830.08
distributions to U.S. beneficiaries, 2930.01, 2930.03, 2930.05, 2930.06, 2930.07, 2930.08
duress clauses, 1190.02, 2540.02, 2540.05, 2540.06, 2540.07, 970.02
expatriation, 2980.03, 2980.05, 2980.06, 2980.07, 2980.08
express powers to amend, 1120.03, 1190.02
firewall provisions, 2250.08, 2340.04, 2340.06, 2340.08, 2340.09, 2390.06
foreign trusts (U.S. tax), 1160.02, 2910.07, 2920.03, 2920.06
fraudulent dispositions, 2120.04, 2180.05, 530.07, 670.07, E30.02
grantor trusts, 2920.01, 2920.04, 2920.06, 2920.07, 2920.08, 2920.09, 2930.02
impossibility defense, 2530.06, 2530.08, 2530.09
letters of wishes, A10.12, A30.04
non-resident requirement, 610.04, 620.05
perpetuities, 2120.01, 690.04, 690.06, 690.07
protectors, 1090.06, 1110.03, 2540.07, 2590.04, 2590.09, 2830.05, 3010.05, 530.06, 680.08, 710.07, 910.01, 910.07, 930.07, 930.08, 950.03, 950.06, 960.01, 960.02, 960.03, 960.04, 960.05, 960.06, 960.07, 970.02, 970.06, 990.01, 990.03, 990.04, 990.05, A10.01, A10.02, A10.11, A10.15, E20.02
reserved powers, 550.05, 960.01, 960.02, 960.03, 960.06, 960.07
revocable trusts, 680.07, 830.10
Section 672(f), 2930.01, 2930.03, 2930.04, 2930.05, 2930.06, 2930.07, 2930.08
self-settled trusts, 2920.02, 620.07, 680.01, 680.02, 680.03, 680.04, 680.05, 680.06, 680.09, 840.06, 970.07, A20.06
settlor as beneficiary, 620.07, 970.07, A20.06
settlor as protector, 960.05
settlor as trustee, 620.06
settlor reserved powers, 830.10
sham trusts, 680.01, 680.02, 680.03, 680.04, 680.05, 680.06, 680.07, 680.08, 680.09
standard of proof, 2130.02, 2130.05, 2130.06, 2130.07, E30.02
Texas, 1120.03
trust property, 2440.04, 2920.05, 550.06, A10.04
trustee's response to foreign orders, 2190.08, 2590.02, 2590.04, 2590.05, 2590.08, 2590.09
Sham trusts
protectors, 680.08
reserved powers, 680.01, 680.02, 680.03, 680.04, 680.05, 680.06
revocable trusts, 680.07
self-settled trusts, 680.01, 680.02, 680.03, 680.04, 680.05, 680.06, 680.08, 680.09
Single-member LLCs
admission without contribution, 1260.03
asset sales, B10.07
bankruptcy of a member, 1570.01, 1570.02, 1570.03, 1570.04, 1570.05, 1570.06, 1570.07, 1570.08
charging orders, 1570.01, 1570.04, 3050.02, B10.10
Colorado, 1570.05
company without members, 1260.01
court test and control test, 3050.01, 3050.02, 3050.03, 3050.04, 3050.05, 3050.06, 3050.07, 3050.08, 3050.09
foreclosure of interests, 1580.04
foundation as beneficiary, 2050.06
liability shield, 1260.04
manager-managed LLCs, 1570.03, 1620.08
member-managed LLCs, 1620.07
member's interest as property, 1260.08
operating agreements, 1260.02, 1260.05, B10.01, B10.02, B10.03, B10.04, B10.05, B10.06, B10.07, B10.08, B10.09, B10.10, B10.11, B10.12, B10.13, B10.14, B10.15, B10.16
single-member company, 1601.04
winding up, B10.14
Solvency, 2150.03, 3010.04, 3010.07
accrual of cause of action, 3010.02
annual compliance filings, 1880.07
arbitral awards, 2370.01, 2370.02, 2370.03, 2370.04, 2370.05, 2370.07, 2370.09
chapter 15 recognition, 2570.07
common-law action on a judgment, 2330.09
compliance as protection, 3010.08
cross-border insolvency, 2570.01, 2570.02, 2570.03, 2570.04, 2570.05, 2570.06, 2570.07, 2570.08
document at the time, 2190.03
drafting the operating agreement, 1390.04
firewall provisions, 2370.08
five principles, 3010.01
foundation regulations, C20.09
fraudulent dispositions, 160.03, E30.01, E30.02
funding in response to a claim, 3010.03
intent to defraud, 2150.07
interests of creditors, 1440.06
memorandum of establishment, C20.09
modern English rule, 2110.04
no statutory limit, 1370.06
operating agreements, 1390.04
protectors, 3010.05
question asked, 2150.01
recognition of foreign insolvency, 2370.01, 2370.02, 2370.03, 2370.04, 2370.05, 2370.06, 2370.07, 2370.08, 2370.09
Rubin decision, 2330.09
Section 727 denial of discharge, 2570.01
settlors, 2120.06, 2150.04, 2150.06, 2150.07, 2370.06, 3010.05, 3010.06
standard of proof, E30.02
tax and reporting first, 3010.09
valuation rule, 2150.02
valuing the claim, 2150.05
Solvency tests, E70.01
Source of wealth
citizenship by investment, 2840.10
duty of care standard, 2840.01, 2840.02, 2840.03, 2840.04, 2840.05, 2840.06, 2840.07, 2840.08, 2840.09
onboarding, 2890.04
politically exposed persons, 2840.01, 2840.02, 2840.03, 2840.04, 2840.05, 2840.06, 2840.07, 2840.08, 2840.09, 2840.10
Spendthrift exclusion (§ 541(c)(2))
Alaska, 2560.08
reserved powers, 2560.03
Section 548(e), 2560.01, 2560.02, 2560.03, 2560.04, 2560.05, 2560.06, 2560.07, 2560.08
Spendthrift provisions
charitable trusts, 520.03
comparison with the English statutory form, 840.04
determining event, 840.05
fixed interest trusts, 840.07
forfeiture, 840.07
protective trusts, 840.03, 840.06
Section 548(e), 2560.04, 2560.05
Section 6(1), 840.02
self-settled trusts, 840.06
settlors, 840.01
Spontaneous and automatic exchange, 2701.06, 2710.03, 2790.08
abolition of exemptions (2021), 2650.05, 2650.09
automatic exchange, 170.04
Common Reporting Standard, 1780.01, 1780.05, 2760.06
FATCA, 1780.01, 1780.05, 2740.02, 2740.04
model 1B IGA, 2740.02, 2740.04
spontaneous exchange, 2710.08
Stamp duties on transfers, 2601.03, 2610.02, 2610.06, 2660.07, 2690.03, 2690.05, 2690.08
alien land holding, 2670.02, 2670.03, 2670.04
land in Nevis, 2670.02
Nevis tax exemption provisions, 2640.02, 2640.04, 2640.07, 2640.08, 550.02
stamp duty, 2670.01, 2670.03, 2670.04, 2670.05, 2670.06, 2670.07, 2670.08
value added tax, 2670.06
Stamp duty, 2601.03, 2610.02, 2610.06, 2660.07, 2690.03, 2690.05, 2690.08
alien land holding, 2670.02, 2670.03, 2670.04
land in Nevis, 2670.02
Nevis tax exemption provisions, 2640.02, 2640.04, 2640.07, 2640.08, 550.02
stamp duties on transfers, 2670.01, 2670.03, 2670.04, 2670.05, 2670.06, 2670.07, 2670.08
value added tax, 2670.06
Standard of proof, 2130.02, 2130.03
beyond reasonable doubt standard, 2130.01, E30.02
contempt of court, 2580.03
Financial Services Regulatory Commission, 2130.04
fraudulent dispositions, E30.02
Stated form, 140.05, 1830, 1830.01, 1830.08, 1830.12, D30.03, D30.04
business entity versus trust, 2960.01, 2960.02, 2960.03, 2960.04, 2960.06
change of stated form, 2060.01, 2060.02, 2060.03, 2060.04, 2060.05, 2060.06, 2060.07, 2060.08
changing the form, 1830.11
designation on registration, 1830.02
entity classification (U.S.), 2960.05
filing periods after formation, D30.05
forms available, 1830.03
forms of multiform foundation, 1830.04, 1830.05, 1830.07, 1890.07, 1910.01, 1910.02, 1910.03, 1910.04, 1910.05, 1910.07, 2060.01, 2060.02, 2060.03, 2060.04, 2060.05, 2060.06, 2060.07, 2060.08, C10.04
foundation as trustee, 1820.05, 1830.04
foundation charter, C10.04
foundation classification abroad, 2960.01, 2960.02, 2960.03, 2960.04, 2960.05, 2960.06
foundation owns its property, 1820.04
foundation regulations, 1830.09, 1860.04, 1910.06, 1910.08, C20.02, D30.01
foundation without owners or members, 1820.06
interim relief, statutory bars, 2440.07
joint ventures and funds, 1770.05
legal capacity, 1820.09
legal personality, 1820.02
liability shield, 1830.05, 1860.06, D30.02
limits of section 5(6), 1820.08
management board, 1910.02, 1910.04, 1910.07
memorandum of establishment, 1830.09, 1860.04, 1910.06, 1910.08, 280.04, C20.02, D30.01
mixed purpose and person trusts, 1080.06
multiform as partnership, 1830.06
multiform foundation, 2660.05
Multiform Foundations Ordinance, 340.09
Nevis law governs establishment, 1820.07
non-resident requirement, 810.08
proper-law provisions, 280.04
registrar's control, 1830.10
residence and domicile, 1820.03
separate legal entity, 1820.01
Statute of Elizabeth. See Fraudulent dispositions
Statutory instruments and regulations
federal legislation, 210.07
interpretation of statutes, 230.02, 230.03, 230.06
subsidiary legislation, 510.08
Streamlined procedures and remediation, 1940.08, 2901.03, 2990.04, 2990.06, 2990.09
advancement of expenses, 1480.02, 1480.07
allocating responsibility, 2990.08
contesting a penalty, 2990.05
exculpation clauses, 1480.02, 1480.07
forms 3520 and 3520-A, 2940.09, 2940.10, 2990.01
open limitations period, 2990.02
reasonable cause, 2990.03
Section 6677 penalties, 2940.09, 2940.10, 2940.11, 2990.01
settlors, 2990.07
Strike out and summary judgment, 380.06
common-law action on a judgment, 2310.03, 2330.09
operating agreements, 1310.07, 1650.04, 260.05
SM Life Ventures decision, 1310.07, 1360.08, 1650.04, 260.05
Striking off. See Removal from the register
Subscribers, 1840.01, 1840.02, 1840.03, 1840.06, 1840.07, 1840.08, 1840.09, 1980.02, C40.02
Article 3 and the promoter, C30.03
creditor provisions in outline, 1870.09
firewall provisions, 1960.05
foundation charter, C10.02
foundation owns its property, 1820.04
foundation regulations, 1960.03, 1960.04, C20.09, C30.16
founder's reserved rights, 1960.01, 1960.02, 1960.04, 1960.05, 1960.06, 1960.07, 1960.08
memorandum of establishment, 1960.03, 1960.06, C10.02, C20.09, C30.16
settlor reserved powers, 1840.04
supervisory board, 1960.07
undertakings to subscribe, 1840.05
Succession planning
forced heirship, 2360.07
probate, 2010.01
reserved powers, 2090.02
succession vehicles, 2010.01, 2010.02, 2010.03, 2010.04, 2010.05, 2010.06, 2010.07, 2010.08
trustee succession under section 38, 2380.07
Succession vehicles, 2010.02, 2010.03, 2010.04, 2010.05
comparison with the international trust, 2010.08
letters of wishes, 2010.06
no Nevis death duties, 2010.07
probate, 2010.01
Supervisory board, 1870.05, 1950, 1950.07, 1950.08, 1990.03
change of stated form, C20.10
Cook Islands, 1950.09
foundation as trustee, 1950.05, 2040.06
foundation regulations, 1910.08, 1920.11, C20.02, C20.03, C20.04, C20.05, C20.06, C20.10, C30.13
founder's reserved rights, 1960.07
management board, 1860.10, 1920.11, 1940.06, 1950.03, 1980.07, C20.05
membership and proceedings, 1950.02
memorandum of establishment, 1910.08, C20.02, C20.03, C20.04, C20.06, C30.13
optional organ, 1950.01
protector as fiduciary, 1950.06
rights to information and attendance, 1950.04
See also Management board
Supervisory board powers, 1950.08
foundation regulations, 1860.04, C20.02, C20.05, C20.06, C20.09
management board, 1950.03, 1990.02, C20.05
memorandum of establishment, 1860.04, C20.02, C20.06, C20.09
Suspicious transaction reports, 150.04, 2801.03
administrative penalties, 2880.02, 410.12
consent regime, 2870.04
financial Intelligence Unit, 150.06, 2810.06
Financial Services Regulatory Commission, 2810.05, 410.04, 410.06, 410.12, 420.06
qualifying trustee requirement, 2870.11
tipping off, 2870.01, 2870.02, 2870.03, 2870.04, 2870.05, 2870.06, 2870.07, 2870.08, 2870.09, 2870.10, 2870.11
T
Tax information exchange
Confidential Relationships Act, 2720.07
fishing expeditions, 2720.02
Global Forum peer reviews, 2720.05
public policy, 2720.04
requests for information, 2720.01, 2720.02, 2720.03, 2720.04, 2720.05, 2720.06, 2720.07, 2720.08, 2720.09
trust companies, 2720.08
See also FATCA
Tax payments under section 60(18)
charging orders, 1560.01, 1560.02, 1560.03, 1560.04, 1560.05, 1560.06, 1560.07, 1560.08, 1560.09, 1560.10, 1560.11, 1560.12, 1560.13, 1590.03, 1760.07, 2950.06
Cook Islands, 1560.13
income tax payments by LLC, 1560.03
liability shield, 1560.04
phantom income, 1560.09
settlors, 1760.07
Termination of trusts, 1180, 1180.01, 1640.08, 520.04, 570.05, 570.06, 570.08, A10.22, A20.07
2000 amendments, 570.03
accumulation of income, 860.01, 860.02, 860.03, 860.04
cy-près doctrine, 1070.08
default provisions, 1190.05
distribution on termination, 1070.08
expulsion of members, 1630.09
payment on termination of an interest, 1370.08
records after termination, 1180.08
redemption of interests, 1630.09
saunders v. Vautier rule, 860.01, 860.02, 860.04, 860.05
settlors, 1180.03, 1180.05, 860.05
termination by the beneficiaries, 1180.04
termination by the Court, 1180.06
termination events, 1620.01
termination under the deed, 1180.02
Terrorist financing, 2801.03, 2810.02
Financial Services Regulatory Commission, 2810.05, 410.04
proliferation financing, 2810.04
Texas
express powers to amend, 1120.03
forced heirship, 2360.08
investment accounts, 2510.08
removal of trustees, 2510.08
settlors, 1120.03
trust property, 2360.08
Three certainties, 650, 650.03, 650.04, 801.02, 810.03
adding and excluding beneficiaries, 650.06
conditions on benefit, 650.07
entities as beneficiaries, 650.08
general rule, 650.01
protectors, 650.09
purpose trusts, 650.09
settlors, 650.02
uncertainty as a ground of invalidity, 650.05
Three-year charging order limit, 1540.02, 1540.03, 1540.04, 1540.09
charging orders, 1520.09, 1540.01, 1580.06, 160.04, 3001.04, 340.07, B30.16, E40.01, E40.02
Cook Islands, 1580.06, 3070.03, 3070.08, E40.02
firewall provisions, 1540.05
layering of jurisdictions, 3070.02, 3070.03, 3070.08
manager's conduct during the period, 1540.06
retention of income, 1540.07
settlement leverage, 1540.08
Throwback rules, 2920.08, 2920.09
distributions to U.S. beneficiaries, 2930.01, 2930.03, 2930.04, 2930.05, 2930.07, 2930.08
foreign grantor trusts, 2930.02
grantor trusts, 2920.08, 2920.09, 2930.02
Section 672(f), 2930.01, 2930.03, 2930.04, 2930.05, 2930.06, 2930.07, 2930.08
settlors, 2930.06
TIEAs. See Tax information exchange
Tipping off, 2801.03
consent regime, 2870.04
qualifying trustee requirement, 2870.11
suspicious transaction reports, 2870.01, 2870.02, 2870.03, 2870.04, 2870.05, 2870.06, 2870.07, 2870.08, 2870.09, 2870.10, 2870.11
breach of trust, 520.05, 770.05, 770.07
compensation and equitable remedies, 770.04
constructive trusts, 770.04
Transfer of domicile, 1680.01, 1680.03, 1680.04, 1680.06
annual compliance filings, 1880.02, 1880.03
approval of departure, 1680.10
charging orders, 1680.07
departure from Nevis, 1290.07, 1680.08
effect of conversion, 1680.02
emergency transfer of domicile, 1290.01, 1290.02, 1290.03, 1290.04, 1290.05, 1290.06, 1290.07, 1290.08, 1290.09, 1290.10, 1290.11, 1290.12, 1680.11
foreign LLCs, 1290.01
jurisdiction after departure, 1680.09
liability shield, 1290.05, 1680.05
mergers and consolidations, 2070.01, 2070.02, 2070.03, 2070.04, 2070.05, 2070.06, 2070.07, 2070.08, 2070.09, 2070.10
operating agreements, 1290.12
planning a migration out of Nevis, 1680.12
winding up, 1660.01
See also Conversion
Trust advisers
protectors, 740.03, 760.05, 910.03, 920.07, 960.02, 960.05
reserved powers, 550.05, 960.02
Trust companies, 490.04, 710.04, 720.05, 2790.07
Common Reporting Standard, 2750.09, 2770.03, 2770.07
controlling persons, 2750.09, 2770.03, 2770.07
CRS Act, 2780.03
data protection, 2780.03
Delaware, 780.04
federal Trade Commission v. Affordable Media, 2530.06, 960.04
foundation as trustee, 2040.04, 2040.08, 3040.04
impossibility defense, 2530.06
private trust companies, 1050.04, 2040.04, 3040.04
protectors, 1040.08, 710.07, 730.09, 960.04
purpose trusts, 1030.09, 1090.01
qualifying trustee requirement, 2510.04, 540.04, 610.03, 610.07, 710.03
requests for information, 2720.08
settlors, 1170.08, 610.07, 710.07
tax information exchange, 2720.08
Trust deeds, 520.11
creditors of beneficiaries, 830.07
discretionary trusts, 830.07
mixed purpose and person trusts, 1020.02
operating agreements, 3080.01, 3080.02, 3080.03, 3080.04, 3080.05, 3080.06, 3080.07, 3080.08, 3080.09
purpose trusts, 1020.02
Trust property, 2220.01, 2220.04, 2230.03, 2490.03, 2920.05, 340.04, A30.02
breach of trust, 770.06
charging orders, 2470.02, 340.08
Civil Procedure Rules 2023, 2320.09
duress clauses, 1190.04, A10.13
duress events, A10.13
foundation as trustee, 2040.05
interim relief, statutory bars, 2440.02, 2440.03, 2440.04
loans from foreign trusts, 2920.05
protectors, 1190.04
Reciprocal Enforcement of Judgments Act, 2320.09
security for costs, 2260.08
Trust records
foreign trusts (U.S. tax), 1160.02, 3060.09
Trustee indemnity
charging orders, 1520.09, 1580.06
exclusive remedy, 1520.04, 1520.09
expatriation, 2980.05
Trustee remuneration, 1940.11, 1990.07, 350.05, 790.02, 790.03, 790.05, A10.20
Corona Trust decision, 1130.07, 270.07, 730.09
duty of care standard, 980.04
duty of loyalty, 1430.07
exoneration clauses, 980.04
foundation regulations, 1910.08, C20.06
management board, 1980.07, C20.05
ministerial powers, 790.04
protectors, 270.07, 590.02, 730.09, 901.02, 980.01, 980.02, 980.03, 980.05, 980.06, 980.07, 990.02, 990.03, 990.05, A10.11
qualifying trustee requirement, 790.06
registration duties, 790.01
Trustee-documented trusts, 2790.07, 2790.08
Common Reporting Standard, 2750.09, 2760.02, 2760.09, 2770.04, 2770.07
controlling persons, 2750.09, 2770.04, 2770.07
FATCA, 2740.06, 2750.04, 2750.06
foreign financial institutions, 2750.06
Trustees' duties, 750, 750.04, 750.07, 750.09, 801.02, 1490.07
beneficiaries' information rights, 750.08
duty of care standard, 1450.01, 1450.03, 1460.03, 1940.02
duty of impartiality, 750.06
duty of loyalty, 750.03
duty to carry out the trust, 750.02
exercise of discretion, 750.05
general law and the deed, 750.01
operating agreements, 1460.02, 1460.03, B10.08
settlors, 750.08
Trustees' powers, 390.04, 740, 740.02, 740.08, 780.08, 780.09, 1760.02, 2470.03, 2470.07
change of governing law, 740.07
charging orders, 2440.08, 340.08
combination and division, 740.06
distribution powers, 740.04
firewall provisions, 2340.12, 2390.04
holding companies and underlying entities, 740.09
interim relief, statutory bars, 2440.01, 2440.02, 2440.08
payment of taxes, 740.05
protectors, 740.03, 940.01, 990.02, A10.11
settlors, 1120.09, 550.06, 670.09
sources of power, 740.01
Trustee's response to foreign orders, 2590.01
Belize, 2590.03
conduct after a claim, 2590.06
planner's position, 2590.07
qualifying trustee requirement, 2590.08
Trust-owned LLCs, 3020.01, 3020.02, 3020.04, 3020.05
controlled foreign corporations, 2950.05
failure points, 3020.07
order of the steps, 3020.03
settlors, 2950.05
tax and reporting, 3020.06
Turnover orders. See Repatriation orders
Two-year limitation, 340.06, 390.04
accrual of cause of action, 2140.01, 2140.02, 2140.03, 2140.04, 2140.05, 2140.06, 2140.07, 2140.08, 2140.09, 2170.01
breach of trust, 770.05
fraudulent dispositions, 2170.01, E30.02
one-year rule, 2140.01, 2140.02, 2140.03, 2140.04, 2140.05, 2140.06, 2140.07, 2140.08, 2140.09
standard of proof, E30.02
U
Undertakings in damages, 2220.08
Unfair prejudice, 1410.05, 1850.03, 2030.04
beneficiaries' information rights, 1380.08
judicial dissolution, 1650.03, 1650.07
liability shield, 1380.08
operating agreements, 1650.04, 260.05, 360.11
SM Life Ventures decision, 1360.08, 1650.03, 1650.04, 260.05
United Kingdom
citizens by investment, 2730.07
Civil Procedure Rules 2023, 2320.02
comity, 2380.04
distribution powers, 2380.04
impossibility in English law, 2580.05
interpretation of statutes, 240.02
notification of the person concerned, 2730.07
Reciprocal Enforcement of Judgments Act, 2320.02
unfair prejudice, 240.06
winding up, 240.06
V
Variation by the court, 1101.03, 1101.05, 1130, 1130.01
administrative powers, 1130.08
approval of a trustee's decision, 1130.06
consent of the beneficiaries, 1130.05
Corona Trust decision, 1130.07
declaration as to the variation, 1130.02
federal Trusts Act, 1130.04
jurisdiction of the High Court, 1130.03
protectors, 1130.07
Section 24(4), 1130.09
Variation of trusts, 1110, 1120, 1130
administrative powers, 1130.08
charitable purposes, 1070.07
charitable trusts, 1070.01, 1070.03, 1070.04, 1070.05, 1070.06
Corona Trust decision, 1130.07
cy-près doctrine, 1070.01, 1070.02, 1070.03, 1070.04, 1070.05, 1070.06, 1070.08
distinguished from breach, 1110.04
distribution on termination, 1070.08
federal Trusts Act, 1130.04
jurisdiction of the High Court, 1130.03
purpose trusts, 1070.07
settlors, 1070.02
unborn and minor beneficiaries, 1130.10
variation by the court, 1130.01, 1130.02, 1130.03, 1130.04, 1130.05, 1130.06, 1130.07, 1130.08, 1130.09, 1130.10
See also Decanting
Voting and consents
alienation of interests, 1970.01, 1970.02, 1970.03, 1970.04, 1970.05, 1970.06, 1970.07, 1970.08
beneficiaries' information rights, 1970.05, 1970.06
discretionary trusts, 1970.03
drafting the operating agreement, 1390.02
forfeiture, 1970.01, 1970.02, 1970.04, 1970.07, 1970.08
management board, 1920.01, 1930.07, 1930.08
operating agreements, 1390.02, B20.06
SM Life Ventures decision, 1360.08
written consents, 1360.01, 1360.02, 1360.03, 1360.04, 1360.05, 1360.06, 1360.07, 1360.08, 1640.03, B40.07
W
Willful FBAR penalties, 260.04
forms 3520 and 3520-A, 2940.10, 2990.01
passive foreign investment companies, 2970.05, 2970.06
streamlined procedures and remediation, 2990.01, 2990.02, 2990.06
Winding up, 1370.10, 1660.08, 1660.09, 1660.13, 1660.15, 1690.08, 2470.05
adequate provision for creditors, 1660.12
alienation of interests, 1970.07, 2020.08
claims against dissolved LLCs, 1660.07
court supervision of trusts, 1660.06
dissolution and liquidation, 1690.07
distribution of assets, 1660.10
end of the company, 1660.02
entity classification (U.S.), 1730.08
liability shield, 1660.03, 1660.04, 1660.05, 1660.06
members as creditors, 1660.11
operating agreements, B10.14, B20.10
single-member LLCs, B10.14
tax claims, 1660.14
transfer of domicile, 1660.01
transfer restrictions, B20.10
United Kingdom, 240.06
Withdrawal and resignation
deadlock, 1630.07
Delaware, 1630.02
expulsion of members, 1630.01, 1630.02, 1630.03, 1630.04, 1630.06, 1630.07, 1630.08, 1630.09
forfeiture, 1630.05
liability shield, 1370.07
Nevis Business Corporation Ordinance, 460.04
protective trusts, 1630.05
redemption of interests, 1530.07, 1610.11, 1630.01, 1630.03, 1630.04, 1630.06, 1630.08, 1630.09
registered office, 1250.08
service out of the jurisdiction, 1250.08
SM Life Ventures decision, 1370.07
transfers, death and withdrawal, 1690.03
Without notice applications, 2470.03, 2490.02, 2490.03
charging orders, 1580.06, 340.08, E40.02
CPR Part 17, 2430.04, 2430.05, 2430.07
Written consents, 1360.05, 1360.06, 1640.03
asset sales, 1670.11, B20.06, B30.10, B40.07
decisions of managers, 1360.04
default measure, 1360.02
electronic signatures, 1360.07
operating agreements, 1360.08, B20.06
scope of the voting rule, 1360.01
SM Life Ventures decision, 1360.08
varying the measure, 1360.03