Saint Kitts and Nevis

Country: Saint Kitts and Nevis
Region: Caribbean
Currency: East Caribbean dollar (XCD) (EC$)
Languages: English
Time Zone: UTC -4

Communications: Very Good

Formation Cost: 1200 - 2000 USD$
Formation Time: 8 - 13 days
Maintenance cost: 900 - 1300 USD$

Executive Summary: St Kitts and Nevis are islands in the Caribbean Sea with a population of approx. 50,000. The capital is Basseterre, on St Kitts, the location of Bradshaw International Airport, which serves North America and Europe. The legal system is largely based on English Common Law. Although sugar dominated the agricultural sector until 2005, when it was finally abandoned as a major crop, activities such as tourism, export-oriented manufacturing, and offshore banking have assumed larger roles in the economy. GDP grew by 3.2% in 2008, but then shrank sharply in 2009, by 9.6%. GDP growth is estimated at 2% for 2012. St Kitts and Nevis has offshore legislation as a Federation, but so does Nevis independently. On the whole, St Kitts focuses on attracting inward industrial and tourist investment, while Nevis concentrates more on offshore asset protection. Nevis has been particularly successful with its LLC (Limited Liability Company) legislation. There is no net worth tax, gift tax, turnover tax, or estate duty on St Kitts and Nevis. Corporate tax and withholding tax apply to domestic companies, but not to entities carrying on business solely with non-residents.

Suitable for: Aviation, Yachting, Holding Companies, Property Ownership
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Vehicle Types: Limited companies (Nevis), public companies, IBCs (Nevis), trusts, foundations (Nevis), limited partnerships and exempt limited partnerships

Capital primary business districts: Basseterre

Good Relationships: Bahamas, Barbados, Bermuda, Belize, Canada, Cayman Islands, China, Cuba, Dominica, France, Jamaica, Korea (Republic of), Russia, Saint Lucia, Saint Vincent and the Grenadines, Trinidad and Tobago, Turks and Caicos Islands, United Kingdom, United States

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Very Light

Tax Burden - Individual: Very Light

Headline tax rates: CIT 0% (resident companies 35%), PIT 0%, VAT 0%

Treaty Jurisdictions: Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Monaco, Saint Lucia, Saint Vincent and the Grenadines, San Marino, Switzerland, Trinidad and Tobago

TIEA Jurisdictions: Aruba, Australia, Belgium, Canada, Curacao, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Guernsey, Iceland, Liechtenstein, Netherlands, New Zealand, Norway, Portugal, Sint Marteen, Sweden, United Kingdom

Information Links:

• Saint Kitts and Nevis Tax-News
• Saint Kitts and Nevis Treaty Updates
• Saint Kitts and Nevis Lowtax Knowledgebase