07/10/2025
NRP Leader Endorses NIA’s New Bill aimed at Diversifying Nevis’ Economy
NIA CHARLESTOWN NEVIS (September 26, 2025)- The Nevis Limited Partnership Bill, 2025 received bipartisan support in the Nevis Island Assembly, with Honourable Dr. Janice Daniel-Hodge, Leader of the Opposition Nevis Reformation Party (NRP) and parliamentary representative for Nevis 4, highlighting the potential benefits of the new legislation for the island’s economy.
Dr. Daniel-Hodge said she welcomed the measure, noting that “limited partnerships are good”. She further explained that the framework could enhance the island’s competitiveness as it relates to the financial services industry.
“This type of business structure is quite appealing and especially to the international finance community as was mentioned earlier. It can…be a strategic tool for economic transformation because a small island jurisdiction such as Nevis, we are not necessarily positioned to compete with larger countries.
“When we have these legal structures and we specialize in them, then it gives us an opportunity to create a niche that persons can then be drawn towards.”
According to the Opposition MP, the Bill also provides an avenue for strengthening external investment flows.
“It does provide an opportunity to increase foreign direct investment and we have seen a number of initiatives attempting to provide the legislative framework to attract foreign direct investment to Nevis, and St. Kitts and Nevis by extension,” she said, referencing the Special Sustainability Zone Authorization Act, recently enacted in the National Assembly in St. Kitts.
She also emphasized the need for strengthened oversight, noting that with new legislation comes the need for increased regulatory compliance, regulators and compliance officers.
Premier the Honourable Mark Brantley, Minister of Finance, who introduced the Bill, assured that safeguards are already built into the legislation. He underscored that oversight and regulation are central to the measure.
“The legislation really does provide a comprehensive framework for the introduction of this new product…we’re still innovating, and we are still trying to make the island of Nevis attractive to investors to say to them that we have cutting edge legislation.
“We have set out, of course, that there will be regulations and part 13 provides that we will have those regulations. We also have provided for an advisory committee…it’s an invention because for the first time we’re trying to get greater oversight to see how this new vehicle is going to function.”
The Premier also outlined the broader economic benefits of adding to the slate of financial services that Nevis offers.
“We anticipate, in terms of economic impact, increase registration of partnerships as we launch this…We want to boost government revenues, and that comes through registration and renewal fees. We want to see the growth of ancillary services- legal, accounting, corporate administration- and we want to see importantly a reinforcement of Nevis’ branding as an innovative, forward-thinking, first class financial center.”
The Nevis Limited Partnership Bill, 2025, provides a modern legal framework for the creation and operation of limited partnerships, joining a suite of legislative instruments that already includes international business corporations, LLCs, trusts, mutual funds, international insurance, and international banking. With its passage, Nevis continues to strengthen its position as a competitive and innovative financial services jurisdiction.
Photo caption: Honourable Dr. Janice Daniel-Hodge, Leader of the Opposition Nevis Reformation Party (NRP) and parliamentary representative for Nevis 4, expressing support for legislation tabled by the Concerned Citizens Movement (CCM)-led administration in the Nevis Island Assembly on September 25, 2025
https://thelabourspokesman.com/nrp-leader-endorses-nias-new-bill-aimed-at-diversifying-nevis-economy
