From The Nevis Financial Services Development and Marketing Department recently revealed that UK solicitor and barrister Mr. Stephen Jones (who is in charge of the drafting of the Nevis Multiform Foundations Ordinance) met with the jurisdiction’s local service providers, to discuss the use and unique features of the Nevis Multiform Foundations Ordinance.
According to a recent Department newsletter, Jones highlighted each and every provision of the Ordinance and focused on the role of the local service providers, regulator and registrar in direct relation to the legislation. Mr. Jones was also keen to point out the major selling points of the Ordinance. These include its management control feature and its ability to allow for transformation of a trust into a foundation and for consolidation of entities. Jones will soon return to Nevis to conduct a more complete workshop with all local service providers. The Nevis Multiform Foundations Ordinance is currently in the final stage of the drafting process.