St. Kitts and Nevis

The state in the eastern Caribbean Sea, consisting of two islands - St Kitts and Nevis. Both islands are of volcanic origin. St Kitts and Nevis is a member of the British Commonwealth. Saint Kitts and Nevis is the smallest state of the Western Hemisphere.

Government

Parliamentary monarchy

Capital

Buster

Legal system

Based on English common law

Official language

English

Currency

The East Caribbean dollar

Economy

Two traditional sectors of economy of Saint Kitts and Nevis are agriculture and tourism, as well as production of some industrial goods and offshore banking.

Corporate law

Corporate law includes both the English and American law, and uses the basic legislation of the U.S. state of Delaware.

  • Foundation Act 2003
  • Limited Partnerships Act 1996
  • Business Corporation Ordinance 1984, amended in 2000
  • International Exempt Trust Ordinance 1994
  • Limited Liability Company Ordinance 1995
  • Offshore Banking Ordinance 1996
  • TTrusts Act 1996

Forms of Company

  • IBC (International Business Company)
  • Private Limited Liability Company
  • Exempt Private Company
  • Public Limited Liability Company
  • Limited Partnership
  • Exempt Limited Partnership
  • International Trust
  • Foundation

IBC (International Business Company)

  • No requirement of minimum capital.
  • Company name must end in 'Limited ',' Corporation ',' Incorporated ',' Societe Anonymne ', Gesellschaft mit beschraenkter Haftung or their abbreviations. The name of the company must be pre-approved.
  • IBC may not conduct business with residents of St. Kitts and Nevis and invest in property of any kind on the island.
  • The minimum number of shareholders is one.
  • The rules require the appointment of Secretary.
  • If there is more than three shareholders, then there must must be three directors.
  • Bearer shares and shares without par value are permitted and must be kept with the custodian.
  • Companies are not required to have a registered office in St. Kitts, but they must have a registered agent.
  • The Company is not obligated to maintain and file statements and annual report.
  • Treaties on avoidance of double taxation signed by St. Kitts and Nevis do not apply to International Business Company.
  • Publicly available information consists of the founding documents and the name of the registered agent.

International Trust

  • One of trustees or a sole trustee of the trust must be a company licensed for this activity, or an offshore company incorporated in St. Kitts.
  • Trust may be governed by the laws of St. Kitts and Nevis or other jurisdiction.
  • Rules against perpetuity of the Trust shall not apply.
  • Rules of compulsory inheritance do not apply either.
  • Before starting the activities it is necessary to make to contribure USD25, 000 to the trust fund.
  • When registering the name of the Trust, the Manager of the Trust and the address of the registered office must be specified.
  • Founder and beneficiaries must be non-residents.
  • Trustee may be its founder or beneficiary.

Taxation

International companies are completely exempt from all taxes in St. Kitts and Nevis.
Trusts are also exempt from all taxes, if all transactions are conducted only with residents of the island.

Agreements on avoidance of double taxation

Denmark, Norway, USA, Switzerland, Sweden. Agreements on information exchange are signed with India, Finland, Netherlands, United Kingdom.