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Home » Offshore Planning » Nevis Law Permits Registration Of Existing Florida LLC: Can Avoid Costs Of Asset Transfers

Nevis Law Permits Registration Of Existing Florida LLC: Can Avoid Costs Of Asset Transfers

ByJon Alper June 20, 2010May 22, 2020

Many of my clients have used Nevis limited liability companies as part of an asset protection plan. One of my recent asset protection clients wanted to put several different rental homes in a newly formed Nevis LLC. The properties are currently titled in the name of one of several Florida limited liability companies. The client believes that the properties are better protected from creditors if they are owned by an LLC formed under Nevis law.

The client was concerned about Florida documentary stamps. Each property has a mortgage, and Florida requires doc stamps based on the mortgage balance when this client deeds the property deeds a property from the Florida LLC to a Nevis LLC.

Nevis law provides that any foreign LLC can be transferred to Nevis. The owner of the foreign LLC (in this case, Florida LLCs) does not have to form a new Nevis LLC and then transfer the assets, in this case real property, from the foreign LLC to the new Nevis LLC. Instead, the owner can file an application with Nevis to turn the existing Florida LLCs into one or more Nevis LLCs. The procedure is similar to merging the Florida LLC into a Nevis LLC, but the procedure is different from a merger.

When a foreign LLC is transferred and re-domiciled in Nevis the assets owned by the foreign LLC is deemed owned by the Nevis LLC without deed. The ownership transfer is automatic by operation of law, as it is in a merger. Therefore, this client can transfer his real estate to a Nevis LLC without deeds and without documents by registering the existing Florida LLCs in Nevis.

Last updated on May 22, 2020

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Jon Alper

About the Author

Jon Alper is an expert in asset protection planning for individuals and small businesses.

Book a consultation with Jon.
Jon Alper

About the Author

Jon Alper is an expert in asset protection planning for individuals and small businesses.

Book a consultation with Jon.

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  • Home
  • Learn More
    • Asset Protection
      • Asset Protection Guide
      • Annuities
      • Asset Protection Trust
      • Bank Account Protection
      • Car Accidents
      • Doctors
      • Equity Stripping
      • Exemptions
      • Florida Residency
      • Fraudulent Transfers
      • Homestead Protection
      • How Attorneys Help
      • Strategies
      • Tenants By Entireties
      • UTMA Accounts
    • Business Planning
      • Business Entities
      • LLCs
      • LLC Operating Agreement
      • Real Estate Investors
    • Offshore Planning
      • Nevis LLC
      • Offshore Bank Accounts
      • Offshore Planning
      • Offshore Trusts
    • Judgment Collection
      • Judgment Collection
      • Bitcoin and Cryptocurrency
      • Deficiency Judgments
      • Fact Information Sheet
      • Head of Household
      • IRS Tax Debt
      • Not Paying Judgments
      • Statute of Limitations
      • Wage Garnishment
      • Writ of Garnishment
    • Wills and Trusts
      • Avoiding Probate
      • Estate Planning
      • Gun Trusts
      • Inheritance Tax
      • Irrevocable Trusts
      • Last Will and Testament
      • Living Trusts
      • Living Will
      • LGBT Estate Planning
      • Power of Attorney
      • Probate
      • Special Needs Trust
      • Trust Administration
    • Bankruptcy
      • Attorney Fees
      • Chapter 7 Bankruptcy
      • Chapter 13 Bankruptcy
      • Dealing With Creditors
      • Involuntary Bankruptcy
      • Moral Issues
      • Orlando Bankruptcy
    • Real Estate
      • Lady Bird Deed
      • Land Trusts
      • Quit Claim Deed
      • Warranty Deed
    • Adoption
      • Grandparent and Relative Adoption
      • Readoption
      • Same-Sex Couples
      • Stepparent Adoption
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