Saint Kitts: E-Commerce
The Betting and Gaming (Control) Act, 1999 was passed to regulate physical gaming, computer internet gaming, horse or greyhound betting and sports book betting and in that connection to establish a Gaming Board.
The Act introduced a licensing system for internet gaming. Any licence issued under the Act is subject to a onetime concession fee and a minimum annual gaming tax. Licensees have to provide the Board with a certified copy of their audited financial statement and accounts together with the auditor's report. Nationals of Saint Kitts/Nevis are not permitted to place bets on the gaming activities. The Company's Banking Operations, i.e. to receive and settle bets must be carried out through an account with a commercial bank on the island.
A processing fee of USD2,000 per individual must accompany the application for a license. Once approval has been granted, Work Permits must be obtained for non-nationals. A registration fee of USD80,000 and an annual licence fee of USD40,000 are payable.