We talk in this blog often about the beauty of St Kitts and Nevis, but if you did decide to live or work here, what is the business climate?
St. Kitts, one of the more recent international financial centers to emerge in the world can offer every investor what he or she is looking for. This small tropical island in the heart of the Caribbean is the home of the Eastern Caribbean Central Bank and the Eastern Caribbean Stock Exchange, which are two important pillars of the Regional Financial Sector.
Our range of enabling legislation and competent service providers can facilitate any investment you need or want to make in the market. Persons wishing to form legal entities for investment, tax planning or estate planning purposes may easily do so here, and those wishing to apply for licenses to become service providers may be walked through the process by the staff of the Marketing and Development Department.
Visit SKIPA, St Kitts Investment Promotion Agency, for more investment information. SKIPA proactively markets St. Kitts, internationally, regionally and locally as an attractive investment location that offers an array of investment opportunities. The investment promotion efforts of the agency are geared towards attracting the right type of investor that will positively contribute to the long term development of St. Kitts.
Specifically, here are points from the Investment Guide:
The Government of St. Kitts has a favourable attitude towards investments that have had a positive impact on the citizens. In an effort to encourage such investments the government provides generous incentive packages.
Corporate tax is 35% of net profits. Qualified companies enjoy full exemption from taxes on corporate profits for a period not exceeding 15 years. Corporate tax does not apply to exempt companies or to enterprises that have been granted tax concession.
St. Kitts & Nevis has a labour force of about 25,000 with a literacy rate of 98%. The country’s technical and training needs are met largely by the Clarence Fitzroy Bryant College which offers courses in plumbing, electrical engineering, air conditioning and refrigeration, masonry, carpentry, mechanical engineering, motor mechanics, typing and basic hotel skills.
The St. Christopher & Nevis Social Security Board (SSB) was established in 1978 to provide payment of various benefits to insured persons in the event of loss of income due to retirement/old age, invalidity, maternity, sickness, injury on the job. Dependants are allowed survivor’s benefits and funeral grant on the death of the insured. Social assistance by way of non-contributory pensions are paid to old aged or invalid persons who are in need.
Steps to Establishing a Business
The steps involved in establishing a business may vary depending on the type of business being established. Investors are asked to contact SKIPA for information concerning the specific type of business being considered.
In addition to the SKIPA web site, call or write:
St. Kitts Investment Promotion Agency (SKIPA)
CAP Southwell Industrial Park
Chief Executive Officer
St. Kitts Investment Promotion Agency
Consider St Kitts for your relocation, and contat our Coldwell Banker agents for local knowledge and advice.