Official Text: The Nevis International Exempt Trust (Amendment) Ordinance, 2015
June 2015
On 27 May 2015 the Nevis Island Assembly approved the Nevis International Exempt Trust (Amendment) Ordinance, 2015. The firm publishes the official text for the legal community as a record of the work and the result.
Directors and staff of the firm participated in the research and preparation of the Amendment alongside a committee of experienced estate and asset-protection planning lawyers in the United States. A separate From the Watchtower entry, 2015 Nevis Trust Law: Even Greater Asset Protection, walks through the substantive changes in detail.
The Amendment introduces five operative reforms to the Nevis International Exempt Trust Ordinance: a correction of the long-standing § 23 scrivener’s error; replacement of the Cook Islands three-year sliding window with a fixed one-year window; an increase in the creditor bond requirement to EC $270,000; the foreclosure of Mareva injunctions and Anton Piller orders against international trusts; and a general duress provision applicable to all persons with power over a Nevis trust.
Lighthouse Trust Nevis Limited is a licensed trust-services provider based in Nevis, offering trust, LLC, and IBC registration and representation. For more information, please use the firm’s contact channels.