Nevis is becoming a new option for getting an online gambling license.  You might already know it as a go-to place for setting up offshore companies. And when it comes to that, the IBC (International Business Company) leads the way.

In this article, we’re breaking it all down: why an IBC in Nevis might be worth considering, how to register one step by step, what it’ll cost you, how long it takes — and a few extras you’ll want to know before jumping in.

What Is an IBC in Nevis

An IBC, or an International Business Corporation, is a specific type of corporation set up under the Nevis Business Corporation Ordinance (NBCO). Simply speaking, it’s an offshore company established to conduct any business outside of Nevis.

In Nevis, the IBC has several characteristics — for example, it must be formed under the NBCO — but it’s not a full list.

An IBC must have at least one shareholder and one director of any nationality and residence, as well as a managing director and corporate secretary may also be appointed. In addition to the corporate structure, the IBC can issue registered shares.

Only a foreign business can set up an IBC in Nevis. That means there is no way for IBCs on the island to offer their services within Nevis itself, whatever it can be from real estate to online gambling.

Key Benefits of a Nevis IBC

There are some reasons why online gambling operators need to choose an IBC:

• No taxes: Foreign businesses registered on the island are charged by 0% corporate and income taxes.
• Minimal reporting: IBCs face fewer regulatory burdens, with minimal reporting and no requirement for annual audits or returns in many jurisdictions.
• 100% foreign ownership: IBCs allow complete foreign ownership and control without restrictions.
• No publicity: Beneficial owners, directors, and shareholders are generally not publicly disclosed.
• Global business reach: IBCs can operate internationally — except Nevis itself — and hold multiple bank accounts in various currencies.
• Fast incorporation: IBCs can often be incorporated quickly, within a few working days.

Downsides and Risks

You’ve probably heard of Nevis — it has a solid name in fintech, and more recently, in online gambling. So, setting up an IBC there might look like a good idea. And in many ways, it can be. But the island does come with some risks to consider.

Nevis-registered IBCs aren’t allowed to do business within Nevis itself. So while you can incorporate there, you won’t be tapping into the island’s local economy in any meaningful way.

In banking, things get trickier. Opening an account isn’t impossible, but it’s rarely smooth sailing. International banks tend to treat offshore entities with caution. Some might refuse you altogether; others will just make it hard with limited options and more red tape.

The same applies to taxation. Offshore companies like IBCs in Nevis are often under the microscope of tax authorities worldwide, because they are concerned about tax evasion and money laundering. Just having a Nevis IBC might invite questions.

And finally, the big one if you’re in online gambling, the legal landscape in Nevis is still in development. Rules might shift, sometimes without much warning. If you’re operating in a regulated sector, you’ll need to stay agile.

Step-by-Step: How to Open an IBC in Nevis

Although Nevis is a newcomer in online gaming with its license, it has already built a solid reputation as an offshore jurisdiction with a fast company incorporation process. There is nothing to worry about, because the process includes several simple steps:

Step 1: Engage a Licensed Registered Agent

The incorporation process involves a registered agent licensed by the Nevis Island Administration.

At MGL, we have analyzed and thoroughly tested numerous registered agents on the island to identify the most reliable, efficient, and professional partners. Currently, we work exclusively with the highest-quality and fasters-performing agents available.

We will handle all filings, maintain the registered office, and ensure compliance with local laws, saving your time and money.

Step 2: Gather Documentation

At this point, it’s required to fill out the Nevis IBC application form. But that’s not all. Expect to also handle declaration forms for directors, shareholders, and beneficial owners.

On top of filling these forms, you’ll need to gather some personal documents, like a passport, utility bill, and professional references for all individuals involved in the process.

And let’s not forget about corporate paperwork. Usually, you’ll be asked to show certificates of incorporation, good standing, and incumbency, and documents clearly identifying the people behind any corporate directors or shareholders, if applicable.

Step 3: Name Reservation

A unique company name will be reserved via the Nevis Online Registration Module. You can’t create any name you like, because it must meet some specific requirements. For example, the name must not be identical or too similar to existing registered entities. At the same time, the name must include appropriate corporate identifiers, like "Limited" or "Corporation". But there’s no need to worry about it — we’ll take care of the name selection and the entire reservation process.

Step 4: Prepare Articles of Incorporation

The Articles of Incorporation will be filled with the Registrar of Corporations. Generally, this document includes all the necessary information about the company: company name, registered office address, registered agent details, and even share structure.

Step 5: Pay Fees

It’s time to pay government registration fees, registered agent fees, and any other applicable charges. Mostly, packages are the same for any businesses and include the first year’s government fees, registered office, registered agent services, certificate of incorporation, memorandum and articles of association, share certificates, and registers of directors, officers, and shareholders.

Step 6: Maintain Compliance

Currently, there are no statutory requirements for accounting or audit in Nevis. However, it remains important to keep proper financial records, because the local authorities may still request documentation to confirm your company’s compliance with relevant laws.

Timeframe and Costs

As you already know, setting up an IBC usually takes 1-3 business days once you gather and submit all required documents and due diligence, and it all is approved. But there are a couple of things that can tweak that timeline.

If you use a shelf company, basically a pre-made company ready to go, the total timeframe is usually shorter, maybe to just a day or two. But on the flip side, needing apostilles or legalized documents can track on another 3–5 business days.

Speaking about fees, the average setup costs about $1,500–$2,500. Typically, it includes your first year’s government fees, a registered agent, and your registered office. But exact pricing varies depending on who you pick as your agent and whether you go for extras like nominee directors, mail forwarding, or document apostilles.

Renewing your company annually usually runs around $1,699. This fee includes government fees and registered agent services. But there is a catch: if you’re late with filings, the price tag gets steeper fast, with penalties ranging from $399 to $1,599, depending on how long you’ve delayed.

Reporting and Audit

Good news: IBCs in Nevis have minimal reporting and audit obligations. They are not required to file annual financial statements, reports, or tax returns with the local authorities.

Audits are only required for resident companies or those with a permanent establishment in Nevis. Basically, it doesn’t apply to typical offshore IBCs.

But Nevis IBCs must maintain their financial and corporate records for a minimum of five years. Companies must keep them at the registered office in Nevis or another location. Regardless of the location, they must be readily accessible to the registered agent and the Financial Services Regulatory Commission (FSRC) upon request.

Company Management

To register an entity in Nevis, your company must have a specific structure, which includes:

Directors

A Nevis IBC must have at least one director, who can be a person or a corporate entity located anywhere in the world. Directors will manage the company’s affairs and appoint officers on the island as needed.

Shareholders

The local legislation requires at least one shareholder. Again, it can be a person or a corporate entity, who can hold 100% ownership. Nevis doesn’t publicly disclose shareholders’ identities, keeping them confidential.

Company Secretary

Appointment of a company secretary is not mandatory in Nevis, but it’s often recommended. There are a few requirements for a company secretary: they can be a person or a corporate entity and do not need to be a resident of Nevis. The secretary handles administrative duties but is not mandatory in all cases.

Nevis welcomes companies with a flexible management structure. The company can have sole directors or 10 of them — it doesn’t matter a lot. Most importantly, corporate directors and secretaries are permitted, which can enhance privacy and ease of management.

The business environment of the island is also flexible. Directors and shareholders are allowed to meet anywhere without the requirement to do so in Nevis.

Wrapping Up

Setting up an IBC in Nevis can be a strategic win-win move for online gambling operators looking for a highly-reputable and cost-effective jurisdiction with a streamlined licensing process.

At MGL, we are here to guide you through every step, so you can be sure that with our support, your Nevis IBC can become an excellent foundation for expanding your business into new markets.