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Doing Business in St. Kitts and Nevis PDF Print E-mail

The St. Kitts Nevis Government has established a central mechanism to offer information and services to help companies do business on the twin-islands. We have first-class telecommunications infrastructure, highly educated and skilled labour force and a growing service sector tailor made to meet the needs of business. Let us help you start, grow and expand your business in St. Kitts and Nevis. We are also happy to help you plan a visit to the Federation and provide information to facilitate your travels.

  • Develop, grow and expand your business
  • Investment Priority areas: Financial Services, Information Technology, Tourism, Manufacturing and Agriculture (Agri-business)

 

Why St. Kitts & Nevis?

  • English speaking, well-educated workforce
  • Modern infrastructure, Roads, Air and Sea Ports, Water, Electricity and more
  • Advance telecommunication infrastructure
  • An enduring history of political stability
  • A legacy of economic stability
  • A stable currency – 1 USD = 2.70 ECD
  • No Personal Income Tax
  • Generous Incentive Packages
  • Direct Air access from key North American and United Kingdom markets (AA; DELTA, US Airways, BA)
  • St. Kitts is served by an array of international financial institutions
  • A well-regulated Financial Services Sector
  • No restrictions on the repatriation of profits and imported capital
  • Tax holidays for qualified investment projects
  • Generous incentive packages including corporate tax incentives, exemption from import duties, tax relief benefits, export allowances and more

Government Objectives

  • Increase Local & Foreign Investment
  • Create Jobs
  • Facilitate the establishment & expansion of investment projects
  • Implement the necessary reforms which enhance the investment infrastructure in both islands
  • Promote Diversification of the economy
  • Enhance the image of St. Kitts and Nevis among investors

Trade and Investment Incentives

  • The Government of St. Kitts & Nevis has a favorable attitude toward investments that have a positive impact on the citizens.
  • In an effort to encourage such investments the government provides generous incentive packages.
  • Full exemption from Import Duties on parts, raw material, and production machinery available for manufacturers who qualify under the Fiscal Incentive Act.
  • Under the Fiscal Incentives Act, four types of enterprise qualify for tax holiday.
  • The length of the tax holiday for the first three depends on the amount of value added in St. Kitts & Nevis.
  • The forth type, known as enclave industry, must produce goods exclusively for export outside the CARICOM region.
  • St. Kitts provides companies with further tax concessions effective at the end of the tax holiday period as a rebate on a portion of the income tax based on export profits as a percentage of total profits.
  • Export Allowances: St. Kitts provides companies with further tax concessions effective at the end of the tax holiday period as a rebate on a portion of the income tax based on export profits as a percentage of total profits.
  • Repatriation of Profits: Companies registered in St. Kitts can repatriate all profits, dividends and imported capital.
  • Strategic Sectors for Investments: A new landscape of opportunities is available to investors under defined prioritized sectors. These include Tourism, Financial Services, Information Technology and Agriculture. The Government has succeeded in creating an attractive investment climate through legislative reform, sound policies and careful planning.
  • CARICOM – as a member of CARICOM, St. Kitts has duty-free access to other CARICOM countries.
  • Caribbean Basin Initiative (CBI) – eliminates duties on all products, with certain exclusions when entering the United States from any beneficiary country in the Caribbean basin for an indefinite period.
  • CARICAN – St. Kitts is also a beneficiary of this economic and trade development assistance program which provides for one-way duty free access of products into Canadian market.

 

Potential for Growth

  • The Agricultural Sector has the potential to create wealth with the establishment of commercial farms in both crop and livestock production.
  • With the upsurge in tourism promotion there is unlimited potential for farmers to produce specific crops to meet the demands of the Tourism Sector.
  • Renewed emphasis has been placed on the Agricultural Sector following the closure of the Sugar Industry in 2005.
  • The Government’s objective in its agriculture strategy is to transform the sector to satisfy local demand and for export.
  • St. Kitts is centrally located in the Caribbean; therefore exporting agricultural produce to North & South is a viable option.
  • Agricultural Development Strategy -The program has three major components:
    • Crop production and Marketing;
    • Livestock Production; and
    • Fisheries Development.
  • Agriculture Incentives - Waiver of customs duties on
    • Equipment
    • Seeds
    • Fertilizers; as well as
    • Concessionary water rate.
  • Foreign Investment
    • Joint venture;
    • Completely foreign entity;
    • Land;
    • Lease Tenure Agreement.
  • Manufacturing - In 2008, St. Kitts & Nevis exported US$54 million in manufactured goods to the United States, which makes St. Kitts & Nevis the largest exporter of goods to the United States amongst the OECS and Barbados. This is a result of Government concessions to the Manufacturing Sector combined with the available supply of an adaptable and easily trainable work force.
  • Information Technology - St. Kitts is working hard to further develop its IT sector. A state-of-the-art ICT Center is now in operation; equipped with training rooms, video conferencing facilities and a business incubator for IT related enterprises.The ICT Center has trained over 3000 persons in IT related courses since its inception in 2007.

 

Aftercare Services

  • Our aftercare services reflect our belief that it’s not just good enough to assist in the establishment of new businesses but we must provide support for established businesses
  • We measure progress through the ability of companies to operate successfully in St. Kitts and Nevis.
  • These companies contribute to employment; local trading, exports, human resource development and government revenue receipts

 

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