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Saint Kitts: Offshore Legal and Tax Regimes

Taxation of Foreign Employees of Offshore Operations

There is no personal income tax in Saint Kitts but foreign nationals working in the country are required to obtain a work permit for which, at the time of writing, there is an annual charge of ECD1,500. Persons or companies remitting payments to persons or companies outside of the nation must deduct a 10% withholding tax on profits, administration or management and head office expenses, technical service fees, accounting and audit expenses, royalties, non-life insurance premiums and rents.

There is no capital gains tax other than on short-term investments, but the Saint Kitts house tax of 5%, payable in two installments a year, applies on annual rental value of a property, with a 25% rebate on residential property. The controversial Alien Landowners Tax places a 14% levy paid by buyers and 4% by sellers on residences. Although it also applies to commercial land, it is subject to negotiations on a case-by-case basis. A 1% sales tax on gross sales, a hotel tax of 5% and a 2% tax on foreign currency transfers are in effect.



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