Published
Sep 4, 2023
Updates:
Sep 16, 2024
Saint Kitts and Nevis
Price:
Delivery:
Legal forms:
Payment methods:
2 weeks
LLC, LLP, IBC
Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
Saint Kitts and Nevis
$
1500
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Registrar
Abbreviation
Phone
Location
Capital
Official languages
Population
Currency
ISO 4217
Basseterre
Saint Kitts and Nevis
English
47,755
SKN
East Caribbean Dollar
Delivery
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Certificate of incorporation
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Articles of association
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Meeting minutes
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Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Saint Kitts and Nevis
FAQ for Company Formation in Saint Kitts and Nevis:
1. What is the process for company formation in Saint Kitts and Nevis?
To form a company in Saint Kitts and Nevis, you need to submit the required documents to the Companies and Intellectual Property Office. The documents include the company's name, purpose, registered agent and office address, and the names and addresses of the company's directors and shareholders.
2. What are the requirements for company formation in Saint Kitts and Nevis?
The requirements for company formation in Saint Kitts and Nevis include a registered office address, a registered agent, at least one shareholder, at least one director, and a memorandum and articles of association.
3. What is the minimum share capital requirement for company formation in Saint Kitts and Nevis?
There is no minimum share capital requirement for company formation in Saint Kitts and Nevis.
4. What types of companies can be formed in Saint Kitts and Nevis?
Saint Kitts and Nevis allows for the formation of several types of companies, including limited liability companies, international business companies, and exempt companies.
5. Can a foreigner own a company in Saint Kitts and Nevis?
Yes, foreigners can own and operate a company in Saint Kitts and Nevis.
6. What are the tax implications for companies formed in Saint Kitts and Nevis?
Companies formed in Saint Kitts and Nevis are subject to corporate income tax, with rates ranging from 0% to 33%. However, certain types of companies, such as exempt companies and international business companies, may be eligible for tax exemptions or reductions.
7. What are the annual reporting requirements for companies formed in Saint Kitts and Nevis?
Companies formed in Saint Kitts and Nevis are required to file an annual return with the Companies and Intellectual Property Office, as well as maintain proper accounting records. Additionally, certain types of companies may be required to file audited financial statements.
8. How long does it take to form a company in Saint Kitts and Nevis?
The time required to form a company in Saint Kitts and Nevis can vary depending on the type of company and the completeness of the application, but typically takes around 2-4 weeks.
9. Can a company be formed online in Saint Kitts and Nevis?
No, company formation in Saint Kitts and Nevis requires the submission of physical documents to the Companies and Intellectual Property Office. However, certain steps in the process, such as reserving a company name, can be done online.
"Saint Kitts and Nevis is a small Caribbean nation with a population of just over 53,000 people. The economy of Saint Kitts and Nevis is largely dependent on tourism, with the sector accounting for over 40% of the country’s GDP. The country also has a strong agricultural sector, with sugarcane, cotton, and other crops being the main exports. The manufacturing sector is also growing, with the production of electronics, textiles, and pharmaceuticals being the main industries.
The economy of Saint Kitts and Nevis has seen steady growth in recent years, with GDP increasing by an average of 3.2% between 2015 and 2019. The country’s unemployment rate is also low, standing at just 4.2% in 2019. The country’s inflation rate is also low, with the average rate for 2019 being just 1.2%.
The government of Saint Kitts and Nevis has implemented a number of policies to promote economic growth, including tax incentives for foreign investors and the development of a free trade zone. The country has also seen an increase in foreign direct investment, with the total amount of FDI reaching $1.2 billion in 2019.
Overall, the economy of Saint Kitts and Nevis is in a good position, with steady growth and low unemployment and inflation rates. The government’s policies have helped to attract foreign investment and promote economic growth, and the country is well-positioned to continue to grow in the future."
Saint Kitts and Nevis is a two-island nation located in the Caribbean Sea, and its taxation system is based on the Income Tax Act and the Value Added Tax (VAT) Act.
Corporate taxation in Saint Kitts and Nevis is levied on resident companies at a flat rate of 33.3% on their worldwide income. Non-resident companies are taxed only on income generated within the country. There are no capital gains or withholding taxes in Saint Kitts and Nevis. Companies must file an annual tax return and pay their taxes by the end of March of the following year.
Personal taxation in Saint Kitts and Nevis is also based on a flat rate of 33.3% on all income earned by residents. There are no taxes on capital gains, inheritance, or gifts. However, individuals who earn more than EC$25,000 (Eastern Caribbean dollars) per year are required to pay a social security contribution of 5%. Individuals must file an annual tax return and pay their taxes by the end of March of the following year.
In addition to income tax, Saint Kitts and Nevis also has a Value Added Tax (VAT) of 17%, which is levied on most goods and services. Registered businesses are required to collect VAT from their customers and remit it to the government. VAT returns and payments are due monthly or quarterly, depending on the size of the business.
Taxpayers in Saint Kitts and Nevis can file their tax returns and make payments online through the Inland Revenue Department's website. The tax calendar in Saint Kitts and Nevis runs from January to December, with tax returns and payments due by the end of March of the following year for both corporate and personal taxes. The VAT returns and payments are due by the 15th of the month following the end of the tax period.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
Articles
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