Editing Nevis (section)

===Offshore banking===
The introduction of secrecy legislation has made [[Offshore Financial Centre|offshore financial services]] a rapidly growing economic sector in Nevis. Incorporation of companies, international insurance and reinsurance, as well as several international banks, trust companies, asset management firms, have created a boost in the economy.<ref name="Finance"/> During 2005, the Nevis Island Treasury collected $94.6 million in annual revenue, compared to $59.8 million during 2001.<ref>[http://www.queencitynevis.com/news2.asp?pressId=339 "Employment on Nevis increases"]{{Dead link|date=April 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (2006). Nevis Island Government Press Release, May 2006. Retrieved 8 August 2006.</ref>

In 1998, 17,500 international banking companies were registered in Nevis. Registration and annual filing fees paid in 1999 by these entities amounted to over 10 per cent of Nevis' revenues.<ref name="EU" /> The offshore financial industry gained importance during the financial disaster of 1999 when [[Hurricane Lenny]] damaged the major resort on the island, causing the hotel to be closed down for a year and 400 of the 700 employees to be laid off.<ref name="EU" />

In 2000, the [[Financial Action Task Force]], part of the [[Organisation for Economic Co-operation and Development]] (OECD), issued a blacklist of 35 nations which were said to be non-cooperative in the campaign against tax evasion and [[money laundering]]. At the time, the list included the [[Federation of Saint Kitts and Nevis]],<ref>See articles in the  [http://news.bbc.co.uk/1/hi/business/806236.stm BBC] {{Webarchive|url=https://web.archive.org/web/20090222182151/http://news.bbc.co.uk/1/hi/business/806236.stm |date=22 February 2009 }}, [http://www.islandsun.com/archives/2001-January/100101/local1-v4i38.html Island Sun] {{Webarchive|url=https://web.archive.org/web/20061019074856/http://www.islandsun.com/archives/2001-January/100101/local1-v4i38.html |date=19 October 2006 }}, and [http://www.theroyalgazette.com/apps/pbcs.dll/article?Date=20020422&Category=BUSINESS&ArtNo=104220017&Ref=AR The Royal Gazette] {{Webarchive|url=https://web.archive.org/web/20060630103641/http://www.theroyalgazette.com/apps/pbcs.dll/article?Date=20020422&Category=BUSINESS&ArtNo=104220017&Ref=AR |date=30 June 2006 }}. Retrieved 8 August 2006.</ref> although the country was subsequently removed following various reforms.<ref name=FATF2023List>{{cite web|title=Black and Grey Lists|url=https://www.fatf-gafi.org/en/countries/black-and-grey-lists.html|website=Fatf-gafi.org|date=2023|publisher=Financial Action Task Force|access-date=30 July 2023|archive-date=1 July 2023 |archive-url=https://web.archive.org/web/20230701063728/https://www.fatf-gafi.org/en/countries/black-and-grey-lists.html}}</ref>