In SKN Business Tourism
DEVELOP. GROW. EXPAND.
The St. Kitts and Nevis government has established a central mechanism to offer information and services to help companies do business on the twin islands. We have first-class telecommunications infrastructure, a highly-educated and highly-skilled labor force, and a growing service sector tailor-made to meet the needs of business. We are also happy to help you plan a visit to the island and provide information to facilitate your travels.
Develop, grow and expand your business.
Q & A
Why St. Kitts & Nevis?
An enduring history of political stability:
- Government objectives:
A legacy of economic stability
A stable currency –1 USD = 2.70 ECD
No personal income tax
Caribbean international financial hub
A well-regulated Financial Services Sector
No restrictions on the repatriation of profits and imported capital
An English-speaking, well-educated workforce
What is the potential for growth?
Strategic Sectors for Investments: These include Agriculture (Agri-business), Financial Services, Manufacture, Information Technology, and Tourism. The Government has succeeded in creating an attractive investment climate through legislative reform, sound policies and careful planning.
The Agricultural Sector–with the establishment of commercial farms in both crop and livestock production to satisfy local demand and for export
Agricultural Development Strategy -The program has three major components:
Crop production and Marketing; Livestock Production; and Fisheries Development.
Agriculture Incentives – Waiver of customs duties on Equipment, Seeds, Fertilizers; as well as Concessionary water rate.
The Financial Services Sector Trade Investment Incentives –The Government of St. Kitts & Nevis has a favorable attitude toward investments that have a positive impact on the citizens.
The Fiscal Incentive Act: Allows for full exemption from Import Duties on parts, raw material, and production machinery available for manufacturers who qualify.
The IT Sector (Information Technology) A redesigned ICT Center is to launch and be operational in Spring of 2016. Well-equipped with training rooms, video conferencing facilities and a business incubator for IT related enterprises, as it was before. Expect, additionally, a national skills program and international trade facility to be located within the Center.
The Manufacturing Sector St. Kitts & Nevis has exported millions of USD in manufactured goods to the United States, making St. Kitts & Nevis the largest exporter of goods to the United States amongst the OECS and Barbados. This is a result of Government concessions to the Manufacturing Sector combined with the available supply of an adaptable and easily trainable work force which is a continuing force.
The Tourism Sector Our success is measured through the ability of companies to operate successfully in St. Kitts and Nevis. Tourism companies bring value to SKN by way of international visitors that contribute to employment; local trading, exports, human resource development and government revenue receipts–leaving wealth within the islands’ borders.
St. Kitts boasts an emerging service-oriented labor force. Here, the Clarence Fitzroy Bryant College, an institution of higher education is at the forefront of the government’s strategy to create a world-class service sector. Notably, the number of students pursuing studies in tourism and hospitality management at colleges and universities in the U.S., Canada, and other developed countries has steadily increased over the years.
EXPANSION OF BUSINESS SERVICES
Aftercare Services Our aftercare services reflect the belief that it’s not just good enough to assist in the establishment of a new business, ongoing support must also be available to enable the success of it.
The SKN government has established a central mechanism to offer information and services to help companies do business on the twin-islands. A few points are highlighted below:
OTHER AIDS TO DOING BUSINESS IN ST. KITTS & NEVIS
CARICOM – As a member of CARICOM, St. Kitts has duty-free access to other CARICOM countries.
Caribbean Basin Initiative (CBI) – eliminates duties on all products, with certain exclusions when entering the United States from any beneficiary country in the Caribbean basin for an indefinite period.
CARICAN – St. Kitts is also a beneficiary of this economic and trade development assistance program which provides for one-way duty free access of products into Canadian mark