Benefits of a Nevis LLC and Creditors

Creating a Nevis limited liability company is a great way to secure asset protection especially in these market conditions. Nevis is out of the country 1973 Topps baseball cards a jurisdiction that has very favorable limited liability company treatment.

At the end of the day, a Nevis LLC is just another layer in asset protection. In fact, with respect to debts, if a creditor gets a judgment in the United States, the only remedy is for that creditor go to Nevis in order to get a charging lien against that creditor.

First, the creditor needs to get a judgment in the United States. Then the judgment needs to the watchmen domesticated in Nevis. At that point, Action Jackson is discovery and the only remedy is that the creditor 1956 Topps football cards get a charging lien.

However, it very difficult to get a charging lien in Nevis. In addition, there is a big question as to whether to country of Nevis, a sovereign nation, will even recognize a judgment from the United States. Furthermore, even if a charging lien was obtained, there could be donate your car tax consequences especially if the members of the limited liability company have negative equity in their capital accounts.

In terms of advantages, there are no adverse tax consequences for setting up a limited liability company offshore in order to gain some asset protection. Having said all that, there are issues with respect to whether you should maintain control of the accounts or have someone else who happens to be a foreign national handle all the management of the single member limited liability company. Obviously, this would need to be someone that you absolutely trust.

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