St. Kitts and Nevis

Ease of Doing Business in

St. Kitts and Nevis

This page summarizes Doing Business 2014 data for St. Kitts and Nevis. The first table lists the overall "Ease of Doing Business" rank (out of 189 economies) and the rankings by each topic. It also lists the economy's distance to frontier (DTF)** measure. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

Region Latin America & Caribbean
Income Category High income
Population 53,584
GNI Per Capita (US$) 13,330
City covered Basseterre
Doing Business 2014 Rank Doing Business 2013 Rank*** Change in Rank
101 97 down -4

Doing Business 2014 DTF** (% points) Doing Business 2013 DTF** (% points) Improvement in DTF** (% points)
60.11 60.08 down 0.03
 

Starting a Business

Info

The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

DB 2014 Rank 73 DB 2013 Rank*** 67 Change in Rank down-6
DB 2014 DTF** (% points) 84.31 DB 2013 DTF** (% points) 84.15 Improvement in DTF** (% points) up0.16

Information on new business density and number of newly created firms with limited liability can be found at Entrepreneurship Database.

Indicator St. Kitts and Nevis Latin America & Caribbean OECD

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

View methodology
Procedures (number)
7 9 5

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

View methodology
Time (days)
18.5 36.1 11.1

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

View methodology
Cost (% of income per capita)
8.7 33.1 3.6

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

View methodology
Paid-in Min. Capital (% of income per capita)
0.0 3.6 10.4
No. Procedure Time to Complete Associated Costs
1 Search and reserve company name (can be done online) Less than one day (online procedure) XCD 54
2 Prepare company statutes 1 day XCD 2500 (lawyer’s fees)
3 Register with Commercial Registry and obtain certificate of incorporation 2-3 days XCD 270
4 Purchase company ink stamp 10 days XCD 60 - XCD 190
* 5 Obtain business license 10 days, simultaneous with procedure 4 XCD 200
6 Obtain tax identification number 3 days no charge
* 7 Register firm as an employer with the Social Security Office 1-2 days, simultaneous with procedure 8 no charge
* Takes place simultaneously with another procedure.

** The distance to frontier (DTF) measure shows the distance of each economy to the "frontier," which represents the highest performance observed on each of the topics including Getting Electricity across all economies included in Doing Business. An economy’s distance to frontier is indicated on a scale from 0 to 100, where 0 represents the lowest performance and 100 the frontier. Read more...

***Last year's rankings are adjusted: they are based on 10 topics and reflect data corrections.

Explore Economy Data


- OR -

Close