Doing Business in Saint Kitts and Nevis

Saint Kitts and Nevis offers a business-friendly environment with English common law legal framework, no personal income tax, and a strategic Caribbean location. This guide covers the key aspects of establishing and operating a business.

Business Environment

Saint Kitts and Nevis is a member of CARICOM, the OECS (Organization of Eastern Caribbean States), and the Commonwealth. The country uses the Eastern Caribbean Dollar (XCD) pegged to the US dollar at XCD 2.70 = USD 1.00.

Registration Procedure

Step 1: Name Reservation

Reserve the company name with the Companies Registry. The name must end with a legal form indicator.

Step 2: Company Registration

File the articles of incorporation and required documents with the Registrar of Companies.

Step 3: Tax Registration

Register with the Inland Revenue Department for a Tax Identification Number (TIN) and VAT registration if turnover exceeds XCD 200,000.

Step 4: Social Security Registration

Register with the Social Security Board.

Step 5: Business License

Apply for a business license from the local authorities.

Costs and Timeline

• Company Registration: Approximately XCD 1,000-2,000
• Business License: Varies by business type and revenue
• Processing Time: 1-3 weeks for full registration

Taxation for Businesses

• Corporate Income Tax: 33% of net profit (or 1% of gross turnover)
• Small Business: 0% on first XCD 500,000 turnover
• VAT: 17% standard, 10% tourism (threshold XCD 200,000)
• Social Security: EE 5% + ER 10% (cap XCD 5,000/month)

Ongoing Compliance

• Annual Return: Must be filed with the Companies Registry
• Tax Returns: Annual CIT return within 3 months of year-end
• VAT Returns: Monthly or quarterly
• Social Security Returns: Monthly contribution declarations
• Business License Renewal: Annual renewal